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When you’re shopping for a new car, you don’t necessarily have to go for the latest models. A used vehicle that’s brand-new to you can be the perfect option. These cars are more affordable, come with lower depreciation costs, and are available in various models to ensure you get the features you want.
Here at Chris Nikel Chrysler Jeep Dodge Ram FIAT, we sell plenty of used vehicles to satisfied customers. Read on to learn more about the benefits of buying a pre-owned car and discover how our dealership can take your shopping experience to the next level.
One of the most obvious benefits of buying a used vehicle is the lower initial cost. Just look at the manufacturer’s suggested retail price (MSRP) for any car and compare it with used prices. You’ll notice that the used prices are always significantly lower than the MSRP, meaning you won’t have to scrape together as much for a down payment. Your monthly payments will also be lower, meaning you’ll have more money to cover other essential bills. For some drivers, used cars are cheap enough that they can buy them outright and not have to worry about financing.
Aside from the initial down payment and monthly payments, owning a vehicle comes with other expenses. Perhaps most notably, there are registration and insurance costs to consider. The state of Oklahoma charges taxpayers an excise tax of 3.25% when they buy a new vehicle. The tax rate on used vehicles depends on the sales price, but they tend to be lower. Annual registration fees also vary and are cheaper for older vehicles.
As for insurance costs, most providers base rates on the total value of the vehicle. Because used vehicles are less valuable and cheaper to repair or replace in the event of an accident, your monthly insurance payment will likely be less. However, it’s important to compare rates from different providers to get the best deal.
Even though used vehicles are already affordable, you’ll be glad to hear about the availability of specials that help you save even more. Our dealership has a whole collection of pre-owned vehicles under $15,000 that help you stay within a strict budget. Customers also appreciate our pre-owned vehicle specials and Nikel Value Inventory, which provide exclusive pricing.
Some people shy away from used vehicles because they don’t know their history, but certified pre-owned vehicles can give you the peace of mind you deserve. These vehicles are slightly more expensive than normal pre-owned vehicles, but they’re well worth the extra cost. Expert technicians perform multiple-point inspections to identify any potential issues and ensure a vehicle’s dependability. Certified pre-owned vehicles tend to be accident-free and have relatively low mileage. Their gentle use means they’re more affordable but can still be dependable for years after your initial purchase.
It’s also worth mentioning that certain pre-owned vehicles can come with warranties. Dealerships often offer guarantees up to a certain mileage or within a certain time frame to assure customers of the quality of their purchases. The combination of pre-owned certifications and warranties makes the process of buying and owning a pre-owned car as stress-free as possible.
One of the biggest downsides to buying a new car is depreciation. This process describes how your car gradually loses value and begins as soon as you drive a brand-new vehicle off the dealership lot. NerdWallet claims that the value of a new car can decrease anywhere from 20% to 30% by the end of the first year. Depreciation can range from 15% to 18% per year during years two through six. After five years, your new car could be worth 60% less than the original price you bought it for.
Some people circumvent depreciation costs by preparing their new car for resale. For instance, they might avoid customization or stay on top of maintenance to increase the car’s resale value. However, one of the most efficient ways to circumvent depreciation is by buying used. If you buy an older car, the resale value will stay more consistent because you’ve already avoided the majority of depreciation. For instance, if you buy a seven-year-old car, the depreciation rate per year will likely be much lower than it was during the first few years.
Some people prefer new cars because they can choose the trim level with the features they want or even build a custom vehicle. However, used vehicles are much more affordable while still offering plenty of flexibility. Our wide selection here at Chris Nikel Chrysler Jeep Dodge Ram FIAT means you’re bound to find the make and model that suits your lifestyle. Feel free to browse our selection and use the filters to make your search even easier. Handy filters let you sort by everything from the number of doors and transmission type to color and mileage.
While used vehicles are more affordable than new ones, you can still take advantage of financing. Our finance center ensures the used car you want is as accessible as possible. Feel free to talk to our finance experts to discover the right plan for you. Customers who provide bigger down payments can access lower monthly payments, but we’re here to help everyone lock in the most affordable rate possible. The application process is as simple as it gets, and our experts are ready to answer any questions you may have.
Throughout our years serving the Broken Arrow area, we’ve found that used vehicles are a desirable option among many drivers. In addition to being much more affordable, they come with peace of mind thanks to dealership certifications and warranties. You’ll also enjoy a wide range of options and accessible financing when you shop at Chris Nikel Chrysler Jeep Dodge Ram FIAT. Contact one of our representatives today to start shopping for the perfect pre-owned vehicle for you.