Buying a second-hand car may be more beneficial than you think
Paying a lower price for a used car versus new is an obvious reason to shop in the used-vehicle market, but there are other advantages as well.
A car typically depreciates in value the moment it’s driven off the dealership floor.
According to Jason White, head of InspectaCar Financial Services, most cars lose 20 per cent of value the moment they leave the shop, and others will lose another 10 per cent in value during the first year.
That’s a 30 per cent loss in value during the initial year of ownership.
“A R300 000 car loses roughly R90 000 in value during that period,” said Jason.
“Depreciation flattens out, usually after a car’s third year before increasing again around year five.
Being well informed on brokering car deals can help you spot a good quality vehicle, allowing you to stretch your buck and purchasing that second-hand vehicle can save you more money than expected.
According to Jason and InspectaCar, the following are great benefits of shopping in the used-vehicle section:
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Reducing insurance costs:
A key factor in determining car insurance premiums is the value of the car. Because a used car has less value than a newer version, the cost of insurance should be less.
Getting more bang for your buck:
Stretching your car-buying Rand is another benefit of buying used. You can buy more car by purchasing used rather than a new one. You may not be able to afford that new luxury car you’ve yearned for, but one that’s two or three years old may fit your budget and offer the same features and style.
When you decide to purchase a car, bakkie, or SUV from a used-car dealership, you’ve made a pragmatic decision. Shopping from a trusted dealership ensures you’ll obtain a high-quality vehicle that has met the standards of an organisation specialising in the sale of used cars.
“We’ve been in business since 2002, and this type of assurance can never be obtained from an individual or private seller,” said Pertunia Sibanyoni, CEO of InspectaCar.
Now in its 16th year of operation, InspectaCar was born out of a vision to uplift and professionalise the used-car market.
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Over the years, the company’s main emphasis has been to dispel the notion that buying a used car is buying someone else’s headaches.
“We have created a unique experience for our customers.
“A one-stop-shop to complete the buying journey, from the online experience, the well-checked car, transparency, dealing with professional and trustworthy staff, to the value-added products,” said Pertunia.
“We are changing the used-car dealer landscape.”
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