Find Used Cars for Sale in NC
Many people in the market to buy a vehicle consider used cars for sale in NC when shopping for a vehicle. You can find a high quality, late model car that fits your preferences and won’t break the bank. Here are some advantages to consider when looking at used cars for sale.
Used cars are a great deal for individuals or families on a budget. The purchase price of the same car is less when you choose used cars for sale in NC instead of new. This means you will pay less in taxes insurance and registration for the vehicle.
More Car for Your Money
Your money stretches further when buying used cars for sale in NC. A new car that may not be in your budget will become more affordable when used. This is mainly because a lot of depreciation of the car’s value has already occurred. If a luxury car has been an elusive goal, seek out a used one. You can also buy a car that offers more high tech options at a lesser cost. Although many carmakers offer updates to new models of their vehicles, most do not have complete redesigns often. It is possible to purchase a used car that others will think is new.
New cars depreciate fast. Once you purchase and drive a new car off the lot, it is worth much less. This could be up to 15% of what was paid for it. Most new cars experience about 30 percent depreciation over the first year of life. After three years, many cars purchased new are worth only between 55 percent and 73 percent of the original cost. A vehicle purchased at two years old is the most cost-effective way to purchase used cars for sale in NC. The depreciation rate usually falls after the second year. This makes it easier to not only buy a used car but also sell it without losing a lot of equity.
Insurance rates are based on the car’s value. Of course, used cars have a lower value than their newer counterparts. You can expect a lower insurance rate. As your car gets older, you can also eliminate some insurance options if you want.
Most states have a minimum insurance requirement. North Carolina requires all drivers to have liability insurance with a minimum coverage limit of $30,000 for bodily injury liability, per person per accident. Liability insurance covers injuries and damages when you are at fault in a car accident.
Used Cars for Sale in NC
Comprehensive and collision insurance are often required by financing companies over the life of the loan. Collision insurance covers damage to your car from impacts and comprehensive insurance covers losses from incidents other than collision. Comprehensive and collision can be eliminated when the car becomes old enough if you choose.
When you are ready to consider a car purchase, consider used cars. They save you money and offer the best values. At Peters Auto Mall, we have a large selection of used cars for sale in NC. Stop by today to explore our inventory and take a test drive.