European cars are known for their elegance and performance. However, they are also quite expensive, and this keeps many people from owning them. An alternative is buying used European cars, which have some mileage but offer a similar experience to new cars. Below are some savings that you will make when you decide to buy a used car.
Lower insurance costs
The price of the car determines the amount of insurance that you will be required to pay. The higher the value of your car, the higher the insurance costs. New cars are expensive, and this results in higher insurance costs. Additionally, the dealer might require you to take a comprehensive cover that will cover all eventualities when you are purchasing the car. On the other hand, getting insurance for a used car is less complicated and cheaper. You can then use the difference between the two premiums for other purposes, such as taking the car for proper service and maintenance.
Higher resale value
Most car owners replace their vehicles every few years. Some decide to sell them to third parties and then use the cash to buy a new vehicle, while others will trade in their current vehicle for another one. You should know that when you want to sell your current vehicle, there will be a minimal price difference whether you bought it new or used, since in both these cases the car will be considered as used. The total price attached to the car will therefore be considerably lower than the cost of a new vehicle at the auto dealer. If you want to avoid this loss, you can buy a used car that you can sell at around the same price you got it.
Lower spare part costs
New cars are often the latest models in the market, and this makes getting spare parts an expensive affair, since they are not readily available. The only option that you have is to get them directly from the dealer or import them, both of which are costly. However, when you buy a used car, you will hardly be faced with this problem. This is because the car model will have been around for some time, and independent dealers will have spare parts to cater for the demand. You therefore have the advantage of getting spare parts at a cheaper rate compared to the parts for a new car.