Five Reasons Why You Should Buy Used in 2024

February 23rd, 2024 by

As we roll further into 2024, there’s never been a better time to shop for used cars. Thanks to modern day advancements, cars are built to last in ways they never were before, creating a robust and diverse used car market. 

Today, HoneyCar presents five reasons why it’s time to pay a visit to our extensive, transparently priced selection of used vehicles.

1. They Cost Less Now

We’ll get the obvious one out of the way – yes, a used car still costs less than a brand-new car, and always will. The economy’s ups and downs have compounded the new car market in recent years, but used car shopping remains as approachable as ever.  

By buying used, you’re able to bypass several of the fees and taxes typically associated with new car buying. Insurance costs are curtailed, as used cars have already depreciated in value and thus come with reduced premium rates. Furthermore, if there’s a specific new model you have your eyes set on, chances are you can find a comparable, more affordable model that’s only a year or two older.

2. They Also Save You Money Down the Line

When you buy used, you’re not just saving money on the purchase price – you’re making a wise investment for the future. Used cars generally tend to be cheaper to maintain and repair than new cars. Used cars have been on the market for years, making their parts more readily available for purchase.  

New cars straight off the assembly line may not have odometer readings, but they also have no previous owner history, leaving you with no point of reference when something goes amiss. Before you purchase a used car, make sure you look into the vehicle’s history report, which gives you a comprehensive overview of its health and potential warning signs to stay alert for. Use CARFAX or a similar site to complete your due diligence. 

3. Less Vehicle Depreciation

The adage about new cars is that they depreciate the moment you drive them off the lot. New cars typically depreciate by roughly 20 percent upon leaving the dealership, and an additional 10 percent during their first year of ownership. 

Used vehicles have already weathered that initial, unavoidable depreciation hit. As such, they’ll continue to depreciate at a much slower rate moving forward, making your cost-to-value ratio more stable as a result.

4. A Larger Selection

Variety is the spice of life. When you decide to shop for a new car, you’re automatically limiting yourself to the styles and trends of this year’s models. But there are plenty of fish in the sea, and millions of unique used cars to select from. From vintage cars no longer in production to optional colors and features that were exclusive to a particular year’s model, your dream car awaits amidst an ocean of virtually infinite options.

5. More Car for Your Buck

Modern vehicles are built to last in ways we never imagined at the turn of the century. 200,000 miles on the odometer is the new 100,000 (or close to it). Most new vehicles come with generous manufacturer warranties that could very well be transferred to you after you buy. And with the advancements that have been made with safety features and tech, buying an older model is a safer proposition than ever before. 

For these reasons and more, there’s never been a better opportunity to get the most bang for your buck when you buy used. 

Discover the Used Car of Your Dreams Today 

Now that we’ve covered how much sense it makes to buy used, your next step is finding your dream used car amidst our selection here at HoneyCar 

Schedule your test drive today and prepare for the bounty of savings heading your way. We’ll get you completely financed and squared away before you drive off our lot. The used car way is our way here at HoneyCar, and you’ll soon see for yourself why it’s the only way to car shop. 

Posted in HoneyCar Tips