5 Ways You Could Save More Money with Second Hand Cars
Sometimes, buying a brand new car in Singapore makes less sense than buying a used one. There are a lot of questions surrounding the big decision of buying cars, especially if it’s a new car. “Is it worth it?” “Do I really need this car?” “What happens after ten years?” Vehicles depreciate rapidly, often losing thousands of dollars of value in the first month of ownership. Buying a gently-used car or truck allows you to bypass that depreciation and save a lot of money.
Did you know that you could still save even more money from buying second hand cars? Here are five specific ways that would allow you to do so.
1. Skip the favorites
Lots of the most popular cars and trucks out there come with a premium price tag. If you are fine with owning a used car that might be less popular, you could save some money – Sometimes a lot of money.
Since there is a higher demand for the go-to cars and trucks, prices tend to be higher for these most popular used vehicles. The solution? Shop for a similar vehicle from a brand you might have otherwise ruled out. For example, if you have been thinking about an SUV like the Honda CR-V, spend some time researching the similarly-appointed and comparable (and possibly less-expensive) used cars. Doing this gives you a great opportunity to save money.
2. Go back a few years
Another way to know how to buy a used car for sale in Singapore and save on your purchase is to seek out a model that is a few years old, or one that does not have the latest body style. The newest cars and trucks come at a premium because the current models have the latest, state-of-the-art technology and all the new bells and whistles. If you research what has already been out there for some time, you would find makes and models that already pack a good bit of tech under their hoods, and inside their cabins.
If you are dead set on driving a luxury car, consider a used model from several years ago. You will have the chance to drive a premium vehicle from an established brand, at a lower price.
3. Consider an electric or hybrid vehicle
Gas might be cheap now, but in the event it gets more expensive, the cost of fuel could weigh on your purchasing decision. Hybrid and electric vehicles have been on the market for years now, and the range is growing as technology advances, giving batteries the ability to hold more charge. These days, almost every manufacturer offers at least one electric or hybrid version of their mainstream models as an alternative to cars and trucks that burn gasoline or diesel fuel. If you are a commuter who tends to only drive a handful of miles to and from work each day, it is worth your time to check out hybrid and electric vehicles like the Honda Vezel hybrid in Singapore.
4. Know what you want and what you need
You might have your heart set on a specific used car or truck, but it might also be more practical and affordable to start looking at other vehicles too. Considering additional options can give you an idea of other available vehicles. Conduct research as a starting point for being able to make informed buying decisions without the showroom distractions that could end up costing you more than you can afford.
Think about the features a particular car has that are essential to your lifestyle, things you cannot live without. Then weigh these things against some of the nice-to-haves you would love to have in the car of your dreams. Whether you need third-row seats, lots of storage, or something small, compact, and fuel efficient, knowing the difference between what you want and what you need will help you choose the right car at the right price.
5. Look for discontinued models
Just because a manufacturer stops making a model does not mean it is not a vehicle worth considering as a used car purchase. In lots of cases, you could save money on such a purchase. Some customers think that once a car ends production, spare parts become like hens’ teeth. Actually, manufacturers typically keep making parts to service these models for years after they stop rolling off assembly lines. Another reason you could pay less for a discontinued vehicle: dealers want them off their lots to make room for newer models. Be sure to take this into account during your research.
You can still save more when buying a secondhand car
While you are already saving money when you buy a used car in Singapore, there are still more ways to save money. It is all about knowing what you need and what the market offers, and finding that sweet spot.
If you are looking for a place where you can find the cheapest used cars in Singapore, visit our website and let our experts help you.