Buying a car is an investment that every person needs to do. Due to the large investment needed for it, people start looking for used cars as an option to save money. That opens a whole new market, with a lot of options to choose from. Of course, used cars can have some advantages and disadvantage against new cars, so it’s better to know these facts before making a decision :

Pros :

• Insurance Rates: Used cars are older and usually have lower insurance rates than new cars, even if the brand and model are the same but in a newer version. Depending the car, model and insurance provider, you can save around 20% per year.
• Depreciation: New cars normally lose most of their value in      the first years of usage. Normally, A car loses around half of its value over the first three years, and another 20%/25% over the next three years. These percentages may vary depending on the car and the model. But, usually that is the reason why Used Cars are not as expensive as the new ones, and Used cars do not lose value as quick as the new ones : because the starting value is already low enough. (more…)