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November 4, 2013

Why Buying a Pre-Owned Car is a Good Idea

If you are in the market for a car, truck, SUV or other vehicle, there are a number of reasons that you should consider buying a pre-owned car. The most obvious reason is cost. Pre-owned vehicles cost much less than a new vehicle. In fact, a car that is just a few years old will often cost less than half as much as a new one. But initial purchase savings is not the only reason for you to buy a pre-owned car.

Buying More Car

When a person determines the amount of money that he or she can spend on a car, that amount can go further when buying pre-owned compared to new. For example, the amount that you might spend buying a new compact car could also be spent to buy a luxury car that is only a year or two old and with low mileage. Buying pre-owned allows a person to drive a bigger and better car than if he or she buys new.

Easier Financing

Though there are lots of opportunities to finance a new car, it is generally easier to finance a pre-owned car over a new car due to the lower purchase cost. As banks and other lenders have less risk from a small loan compared to a large loan, they are often more willing to work with those with bad credit or no credit to finance a pre-owned car. In fact, you also have the option of paying for some pre-owned cars through buy here, pay here without the need for traditional financing. Pre-owned car financing also holds the potential for a lower monthly payment than would be possible with a new car.

Depreciation Loss

Over time, a vehicle loses value as the vehicle becomes older, obtains higher mileage and suffers minor cosmetic damage from normal wear and tear. However, the loss over time is lower for a pre-owned car than a new car. This is due to the first owner of the pre-owned car driving it for the first year or two when depreciation is highest. This is an especially valuable point for those people who use their vehicle for work, to complete a long commute or are otherwise rough on their vehicles.

Maintenance Costs

In almost all cases, a pre-owned car will have more maintenance costs over a given period of time than a new vehicle. However, as modern cars and other vehicles are made to standards unheard of in the past, most used cars with even a high amount of mileage will provide years of service without needing serious, high-priced repairs. There are many vehicles on the road with hundreds of thousands of miles that are running on their original engine, transmission and other major components.

If you looking for a great deal on a reliable pre-owned used car, Paaco has the vehicle that will meet your needs. Paaco has been serving the Dallas / Fort Worth area for over 20 years and has built a reputation for providing quality cars at great prices.

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