Nowadays, there’s a lot of expenses you would want to prioritize. This is very evident, especially if you’re in the stage of your life when you’re trying to be a young professional. Living on your own to paying your bills can be challenging financially. Experts even say that you should start saving for retirement at your age. There’s truly a lot of things you would need to consider financially when you turn into a young adult.
That’s the reason why some are delaying their brand-new car purchases. They prefer to settle for secondhand autos in the meantime. You may be in that situation where you have to decide to buy a car or save that money first. If that’s the case, let us tell you how buying a secondhand car can help you with your life as a young adult.
Here are why a secondhand car purchase is advantageous for a young adult like you.
As you probably know, secondhand cars can be a cheaper option for you to own a vehicle. Starting your life by yourself can be challenging for someone like you. Budgeting can be tricky for your age since you’re just starting to do it independently. If buying a car gets lower and lower in your priority list because of money, buying a secondhand one may help you. It’s a known fact that most used cars being sold are cheap. But not just that, secondhand car dealers can give you a variety of selections. Car models that are one to three years old can be your best options. While you may think that these cars are a good buy for their prices, you still need to be careful. If you have a mechanic friend, you can consult them when buying a secondhand car. Test drive the car you’re eyeing and do it thoroughly. Ask a friend who knows a trusted car dealership, too, for a recommendation.
Insurance is lower
Since a pre-owned car has less value than a brand-new one, you should expect lower insurance costs. That’s true because one vital indicator of car insurance cost is the vehicle’s value. So automatically, if you’re buying a car for a low price, its insurance cost will be low too. You’re going to save a lot of money if the insurance is lower. You can even use some of your money on more important things. Say you’re moving and needed a storage facility to store your belongings temporarily. Or you’re trying to get your master’s degree. Imagine how much you can save from buying a secondhand car if you’re on a tight budget.
It gives you access to a vehicle.
There are times when your job would require you to move from one place to another. It will be hard if you don’t own a vehicle to do the transfers. Worse is if you’re starting your journey in ensuring your financial stability. If you’re in that situation, you may want first to buy yourself a secondhand car. Do this before planning on buying a brand-new one. Just postpone that plan until you’re earning more than enough to buy yourself a new vehicle. This way, you can have access to a car of your own immediately. It can help you if you move around a lot. This can also prevent you from taking public commutes if that’s something you’re not comfortable doing.
Sellers are now more reliable.
Not that long ago, people used to think that buying secondhand cars was risky. You can’t blame them because some used cars have hidden damages or malfunctioning parts. The good thing is secondhand car dealerships seem to have improved nowadays. They’re now more transparent with the status of the vehicles they sell. This can give you more peace of mind on buying something that has already been used. Access to the real status of a used car is necessary for people who want to save money.
CPO or certified pre-owned cars are vehicles that were refurbished before reselling. They were inspected, and the damages were repaired by the manufacturers. This option is the best for people who are a little worried that they may buy a secondhand car that’s not worth their hard-earned money. The good thing about this is certified pre-owned cars also have an extended manufacturer warranty. This is why it’s recommended for first-time car buyers. You’d have a quality refurbished vehicle at a lower price plus a warranty. Not only can it help you with your savings as a young adult, but it can also give you peace of mind.
Your new life as a young adult can be very tough. Financial hurdles alone may give you a hard time managing them. Buying a secondhand car may help you with managing money matters. It’s just a matter of choosing carefully what to buy.