Don't be tempted by that shiny new car, used cars can also be great.
There are so many joys to owning a brand-new car. First, you don't really have to worry about reliability because the car is covered by a new car warranty. Second, you don't have to worry about scratches and interior imperfections, because every single dent and scratch will be put on by you. Owning a new car is great, but we still highly recommend buying a used one. There are many reasons why used cars can actually be better than their new counterparts, but we've narrowed our list down to just five. Here's why buying new isn't always best.
Depreciation: The number one reason why a used car can be better than a new one is that you can save a ton of money. We've shown countless examples of used cars that can be purchased at a fraction of their original asking price, but few have been more spectacular than the Mercedes S65 AMG. This top-of-the-line Mercedes costs around $225,000 new, but can be purchased for around $65,000 less just a year later. Wait a few more years and an S65 can be found for a small fraction of its original price. The S65 is the perfect example of why buying a used car is such a good idea.
Fleshed Out Issues: One of the under-the-radar reasons why buying a used car is a good idea is that most of the first year issues have been fleshed out. It doesn't matter which company built it, most cars have at least one notable issue. Recently the Focus RS suffered from a head gasket issue, but Ford has covered it and owners won't have to worry if they buy one used. During the first model year of any new car there are bound to be issues, so people who wait to buy them used will know what to expect because the issues will be well documented by previous owners.
Bigger Selection: One of the things that sucks when you are looking at new cars, is that sometimes the manufacturer doesn't sell exactly what you want. Perhaps you wanted a WRX STI hatchback? Well too bad, because Subaru stopped building it. How about a BMW M5 with a manual transmission? Tough luck yet again. This year, cars like the Dodge Viper went out of production, which means that you can't buy one anymore. Buying a used car opens the options so the choices are nearly endless.
Insurance: One of the things that people seldom think about when they sign for that new car is how their insurance rates are going to change. Chances are that new car has a higher value than the car that it's replacing, which means that the insurance rates are going to go up. New cars are more expensive to insure on average, especially if they are leased or have a luge lien against them. Most people have to pay extra for what is known as "gap insurance" just in case the car is totaled and they owe more on it than the car is worth.
CPO Warranties: Back in the old days, people who bought a used cars were basically rolling the dice on how reliable the car would be. Certified pre-owned programs have changed the game on how easy it can be to buy a used car. A CPO car comes with a warranty, just like a new car, and offers peace of mind for buyers. Buying a CPO car is almost as safe a bet as buying a brand-new one, but it will also have all of the advantages that we've mentioned on this list.