Buying a car of your own is a big decision and there are a lot of things to consider. For many people, a car is their first big financial responsibility and represents a long term commitment. 

Owning a car means you can avoid public transport woes and you may even find it easier to go on holidays or weekend getaways with your family and friends. 

Purchasing a pre-owned car makes great financial sense as they are often half the price of a brand new vehicle. Luckily, the used car industry in Australia is big, you just have to find the right place to buy and the right car for your needs. 

Here are the top 3 benefits of buying a used car:

1. Saves you money. 

Is your financial capability is something that you’re concerned about? Choosing to buy a used car represents a much more economical option. Spending $25,000 for a new vehicle may seem exciting but over a few years, these cars can depreciate to less than 50% of their original price. If you purchase a used vehicle you will lose much less money when it comes time to sell it, you can also pay off any loans faster and you can save on your annual registration fees. 

2. No hidden fees. 

Brand new cars often have hidden fees. Additional charges such as shipping and dealer fees can increase the actual cost of a new car. Generally used cars have no hidden fees. 

3. Depreciation has already occurred.

Did you know that a brand new car depreciates the moment you drive it off the dealer’s lot? Let’s say your $40,000 car loses around $8,000 the moment you drive it off the lot, that’s a huge amount of money to lose! Recent studies also indicate that cars lose between 15% to 20% of their value each year. Imagine losing your hard-earned money like that.

There are other numerous advantages to buying a used car but who can you trust to get you into your pre-owned vehicle? CarCoop!

CarCoop’s goal is to give credit-challenged Australian’s a chance to own a car even if they have a bad credit history. We don’t do credit checks and our low deposit rent-to-own plans include registration, insurance, roadside assistance, and 1-year of scheduled servicing. An added bonus is that instead of a 4-5 year term, CarCoop only offers a 2-year agreement with options to return, upgrade, or own the car. With an “end of agreement” payout figure of just $1.00 CarCoop’s Rent-to-Own vehicles and offers are hard to beat.

Enquire or pre-qualify for a rent-to-own vehicle today!