Buying Used Car Insurance


Buying a car is big decision and investment. We often think “newer is better” but with so many options in used cars and with a little bit of research you will see why buying a used car may be better than you think.

One of the biggest reasons to buy a used car is that it makes more sense financially. A new car can depreciate by as much as 50% of their original value in just 3 years. With the average price of a new car being $34,968 in 2017, it means you could lose as much as $17,484 in value!

If you find yourself trading in or selling your car and getting a new one often, then a used car is also better. Buying a car that is only 2 years old can mean huge savings and will still give you that “drive-like-new” experience.

Many times, what scares us away from used cars is the thought we may end up getting scammed or with a car in less than optimal condition. If that is the case, consider buying car that is either Certified Pre-Owned, previously leased, or that was previously a rental car. These types of cars usually pass through rigorous multi-point inspections, have been very well taken care of, and have regularly maintained.

Another way to make sure you get a reliable car is by searching for the vehicle history report. Keep in mind, if the car was previously maintained or fixed at a private mechanic, the report may not have all the accurate information. Don’t hesitate to bring your own mechanic to fully inspect the car you are thinking of purchasing; most dealers and private sellers will not mind.

Finally, you can check out websites like J.D. Power and Consumer Reports to research ratings on a car’s dependability and reliability.

Another reason why buying a used car may be better than you think? Car insurance premiums are often much lower for used cars compared to new cars.

For help finding the best auto insurance for your used or new car, contact a Preferred Link agent today!