Are you thinking about upgrading your vehicle? Everyone needs a reliable vehicle to get around. Cars help us get to important places like work, the grocery store, and family’s houses. If yours has been breaking down and becoming a money pit you know it’s time to get something different. Or maybe you want some cool new features and better gas mileage. Whatever reason you’re looking to upgrade, a used vehicle is always a great option! You might be thinking of buying a brand new vehicle or leasing, but there are many more benefits to buying used.
It’s pretty obvious that a used vehicle would be cheaper than a new one, but there are other ways that a used vehicle ends up costing you less in the long run. For example, Automobile Insurance. When you finance a new vehicle or lease, full coverage insurance is required by the lender. The lower the price of a vehicle, the lower it costs to insure with collision and comprehensive coverage. Used cars afford you the option to decline collision and comprehensive coverage and will reduce your monthly commitment even more.
Because used vehicles are cheaper than new ones, this can be a great option for people who find themselves in a bad credit situation. It’s hard to get financial acceptance for a new vehicle. With F&M Auto, you can be accepted for financing with a used vehicle no matter your credit and your monthly payments will be more reasonable than payments for a new vehicle. Get our Online Credit App process started today and quickly see all the affordable finance options available for you at F&M Auto Sales!
There’s also the car’s depreciation value to think about. When you buy a car new, right when you drive it off the lot, it generally deprecates by 20%. So if you were to buy a vehicle worth $25,000 you’d immediately lose $5,000 worth of value. This can be very intimidating for a car buyer and the last thing you want is buyer's remorse when upgrading to a newer vehicle. As the years go by, that deprecation gets even larger. The average depreciation for a new vehicle is around 50% after just three years! When you buy a used vehicle, the largest portion of the depreciation on the vehicle has already happened. You won’t be throwing away as much value.
Availability & Features
Right now due to the chip shortage, new vehicles are taking longer to make and deliver to car lots. Some customers are waiting months for a new vehicle! If you’re needing a vehicle soon, then buying used is the smarter way to go. Don’t wait an unknown period of time for the dealer to have new cars available when you can buy a used car and drive away today.
Another major factor with the new car shortage is the technology features that can be offered. These microchips help run all the special features in new vehicles. Due to the limited amount of chips, some car manufacturers and dealerships are limiting the available features. Shop used vehicles from 2018 and later for many of the same great features like remote start, backup camera, and Android Auto/Apple Carplay. You can browse our quality selection of 2018 and later models here.
One of the biggest hesitations people have when buying a used vehicle is the quality. Buyers are worried about their purchase having issues or breaking down faster than new. The Certified Service Center at F&M Auto Sales has licensed mechanics on-site. We thoroughly inspect every vehicle before it's sold to ensure we’re selling you a quality vehicle that won’t break down soon after you buy it. Warranties and extended warranties are available for all the used cars we sell. You can bring your vehicle here for professional service, maintenance, or any future repairs. We are here for you!
After considering the many benefits of owning a used vehicle vs. purchasing brand new, it’s an easy choice. Browse the top-quality pre-owned selection full of modern technology and safety features at F&M Auto Sales in Detroit, where you can buy confidently, save money, and enjoy excellent service after the sale.