Not everyone is lucky enough to have a hefty bank balance between spending on a brand new car. Some people only settle for the second-hand or used car option. It is one amazing way to cover your needs, minus the expensive rate. Now, there are some points to click on before you purchase used cars for sale.

Checking out the best age is important, especially while focusing on a used car. Focus on its age, check out the working abilities and even the price points, before purchasing.

Points to look into:

There are various points to look into while purchasing a used car. But the main question is to ask yourself what points you need to figure out while purchasing a second-hand car. There are some interesting selling points associated with a used car.

  • Check out the features and specifications of the car. Can you get what you are looking for from this chosen model?
  • Look for a car with better monetary value. The amount you are willing to spend must match the working credibility of the car.
  • Don’t forget to check the lower running and upfront costs of the used car before finalizing a deal.
  • Check out the future resale values of the car. If you ever want to sell the car later in life, how much money can you grab from that deal?

These points might feel simple but will hold a strong value to your used car. Covering these sections will actually help you to spend the proper amount on the used car.

Perfect age of a used car:

At first, you need to focus on the depreciation level before you buy used cars. The depreciation won’t be the same for old and new cars. Newer cars will depreciate way faster than the used ones. So, when you drive a new car, it will lose around 9 to 11% of value immediately.

  • Within a span of 12 months, the same car has lost around 20% of its value. After that, a car will start to lose around 15 to 25% of its present value for the initial 5 years. Even after that, depreciation might take place but at a rather lower level.
  • If you keep these points in mind, then purchasing a car, which is 2 to 3 years old, is more or less like purchasing a new vehicle.

You can further save some extra bucks if you purchase an older vehicle. For example, a 5-year old vehicle has already lost 60% of its net value.

What affects depreciation?

The vehicle models will start to depreciate at multiple speeds. The luxury sports cars will have a higher depreciation level as the buyers are always on the lookout for the latest models.

  • On the other hand, the vehicles which are reliable will depreciate the slowest.
  • Moreover, vehicles with recalls or known to have higher maintenance bills will have a bigger depreciation level.

While you might find any bargain, you better consider the on-going repair costs before purchasing any used car model.

Deal with the maintenance cost:

Even with growing age, modern vehicles are of maximum reliability. On an average scale, a car, which is 5 years of age, will cost you somewhat around $400 for repairs. But, on the other hand, a 10-yeara old vehicle will need an annual repairing cost of $700.

A 5-year old model will suffer from issues but once every 3 years. However, the 10-year old will encounter an issue every 18 to 20 months. If you think about it, you have to spend much more as maintenance rate on older cars.

The best age of car for an overall benefit:

There are some main points which can determine the best age when it comes to best used cars.

  • How much do you have to pay for the used car when compared to its original rate?
  • How reliable will this purchase be for your use?
  • How much will be the total cost of the car when you are done with its repairing?

Some people plan to spend the least when it comes to used cars if they are going to use the vehicle for a limited timeframe. But, if you are trying to use the car for a longer span of time, then spending a bit extra won’t hurt you much!