There are pros and cons to everything, including buying a new vehicle. One of the biggest deterrents is that new car price. Along with a larger price tag, you end up paying more in sales tax and insurance, plus a bigger down payment. A brand new car immediately loses 20% of its value the second you drive it off the lot and it just continues to depreciate over the years. While it’s nice to know you’re the first owner of a vehicle and you can enjoy that new car smell, sometimes it’s more feasible to look at a pre-owned option. Saving money is just one benefit. Below we’ve outlined the positives that come from purchasing a pre-owned vehicle. And when you choose Nate Wade Subaru, you know you’ll have a wide selection to choose from plus be treated with the respect you deserve. Browse our pre-owned inventory online or feel free to stop by our dealership at 1207 S. Main Street in Salem. We’re excited to help save you money and get you into a reliable pre-owned vehicle.
You may have wondered why a pre-owned vehicle, even if it’s not that old, can sell for so much less than a new car, truck, or SUV. The reason is simple: depreciation. The Oxford Dictionary defines depreciation as “a reduction in the value with the passage of time, due in particular to wear and tear.” Depreciation of a new vehicle is at its highest during the first few years of ownership, losing as much as 20% the first year alone. When you buy a pre-owned vehicle, you’re saving yourself money by avoiding the period of substantial depreciation. This means if you decide to sell your pre-owned vehicle, you’re more likely to get close to the original purchase price than if you were selling a brand new car, where you would be lucky to get back half of what you paid.
The biggest hassle after buying a car is insurance. But when it comes to the depreciation of a vehicle, that means good news when buying insurance for your new car, truck, or SUV. It’s commonly known that the more you’ve paid for your vehicle, the more you’ll end up paying for insurance. So when you choose to purchase a pre-owned vehicle, you’ll end up keeping some of your hard-earned money in your wallet when you leave your insurance agency. One of the biggest benefits is that, when you buy a brand new car, you’re required to purchase collision and comprehensive insurance, but with a pre-owned vehicle, you have the option to waive those coverages, which saves you even more. And, because used cars cost less, they can cost less to repair so insurance companies are apt to charge you less.
Back in the day, the term “used car” was synonymous with “lemon.” Today, there are laws in place to protect buyers from defective vehicles and reports you can download to check the history of the pre-owned car you’re interested in so you know it will be a reliable purchase. Here at Nate Wade Subaru, we always go the extra mile to make sure you get exactly what you want in a vehicle, be it new or used. Our pre-owned inventory is vast and includes other brands like Toyota and Honda. In order to save you even more money, every month we offer different sales and special offers on our used inventory. We base our prices on the condition of the vehicle and the Kelley Blue Book value according to wear and tear. Plus every pre-owned vehicle purchased at Nate Wade Subaru comes with a complimentary BlueStar Vehicle Condition Report so you can buy with peace of mind.
A high percentage of buyers looking for a new or pre-owned car, truck, or SUV have a budget they need to stay within. At Nate Wade Subaru, we’re here to work with you and get you the best deal possible. Our finance team is experienced and knows just how to work with the lenders to find you the lowest monthly payment that sticks to your budget. You can even get the process started early and fill out the finance application online. Nate Wade Subaru also offers financing specials to help you save even more money. We’re here to help you get behind the wheel of your dream car and we’ll do whatever it takes to make that happen. Stop by Nate Wade Subaru today. We’re located at 1207 S. Main Street in Salem or you can contact us by phone or online with any questions you may have.