The Benefits of Buying Used Cars in Toronto

TORONTO - May 1, 2024 - PRLog -- When it comes to purchasing a vehicle, the appeal of a new car may be attractive, but this choice is often avoided due to the hefty price tag that comes along with it. Our team at Nexcar Auto Sales & Leasing has put together this guideline to share with you the benefits of purchasing a pre-owned vehicle in Toronto. Deciding to purchase a used car comes with numerous advantages over buying a brand new car. From minimizing depreciation to enjoying upgrades at a fraction of the cost, choosing to purchase a used vehicle is often the popular choice. Allow our team to explain.

Minimize Depreciation
When one decides to purchase a new vehicle, they should know that as soon as the vehicle is taken off the lot, it loses 20% of its value. This means you have already lost 20% of your investment that you paid. In addition to this, new cars lose another 10% of their value within the first year. Now, you are down 30% in just one year. Therefore, purchasing a vehicle that is used, say 2-3 years old, will allow you to skip this major depreciation. Purchasing allows buyers to bypass this steep depreciation curve, allowing them to retain more value over time.

Reduced Registration & Insurance Expenses
When it comes to registration and insurance expenses, these rates are often reduced when a buyer chooses a used car. Generally, older vehicles come with lower registration costs, as they are assessed based on the purchase price. Further, insurance premiums for pre-owned cars are typically lower than those for new ones. This dual cost-saving advantage makes owning a used car in Toronto more financially manageable in the long run.

Luxury Features Without the Premium Price Tag
If you wish to indulge in luxury features, a used car can make them more affordable. Deciding to purchase a vehicle that is just a few years older will still come equipped with modern features. In some cases, used cars come with leather upholstery, heated/ventilated seats, dual-zone climate, keyless entry, and more.

Contact Our Used Car Dealership
Choosing a pre-owned vehicle not only makes financial sense, but also offers the opportunity to enjoy upgraded features without breaking the bank. Browse through our current used car inventory at Nexcar Auto Sales & Leasing and find the perfect vehicle for you.

🚘 Learn More: https://www.nexcar.ca/blog/the-advantages-of-buying-a-used-vehicle/
📞 Phone: (416) 633-8188
📬 Email: info@nexcar.ca
📍 Location: 1235 Finch Ave W, Toronto, ON M3J 2G4