Parts and Autos

3 Reasons To Lease A Certified Pre-Owned Auto

Buying a used auto can help you save a significant amount of money. Basically, some of the best bargains in autos can only be found in the garages of private owners. However, the main endeavor is being assured that you are not buying a broken car. After all, a used vehicle does not usually come with a warranty. If the car is a lemon and the car breaks down unexpectedly, you will not have any recourse except potential a lawsuit.

Buying a certified pre-owned car (CPO) can help you manage the risk. You will still save money because they are less expensive than new models. Plus, they are thoroughly inspected and come with a limited warranty. Below, I will give you 3 reasons why you may want to consider buying a CPO or certified pre owned car.

Fact number 1: Inexpensive Auto In Great Condition

A lot of people mistakenly equate a inexpensive price tag makes a great deal when buying a used car. But, if that car leaves you stranded or experiences frequent mechanical problems, the costs of repairing it can transform it into a money pit. A CPO is nearly always in great condition. They’re usually a couple of years old and have low mileage on them. Plus, mechanics perform an exhaustive series of tests to make sure the CPO is consistent with the manufacturer’s specifications.

Fact #2: Depreciates Less After Purchase

When you buy a new car and drive it home, it loses thousands of dollars in value. The initial depreciation of a new car is significant during its first 2 years. That’s one of the reasons financial planners suggest buying a used car. A CPO helps you avoid paying for the initial depreciation.

Fact number 3: Includes A Warranty

There are steps you can take when buying a used car to help prevent problems down the road.  In the event, you can invest in a vehicle history report and have a mechanic perform a diagnostic test. But, the used car still won’t come with a warranty. By contrast, a CPO usually has a limited warranty that covers specific parts. This provides piece of mind. If something goes wrong with the parts that are covered, you will have recourse.

In spite of the fact that CPO Cars have been sold for many years, the majority of drivers are either unaware of them or avoid them due to their higher prices. But, it’s important to remember that those prices reflect a higher level of confidence in the car’s safety and reliability. If you haven’t considered purchasing a CPO, visit a local dealer. You might be surprised by the deals you’ll find.
For all your Used Auto Part Needs check out Everdrive.com

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• An Objective View Of Leasing A Car (0)

An Objective View Of Leasing A Car

Leasing a car is generally more expensive over the long run than buying and keeping a car for several years. I’ll explain why in a moment. Despite the increased costs, millions of people willingly lease cars every year. The decision is usually a matter of your outlook on your personal finances and your lifestyle. Those who enjoy the feeling of driving a new vehicle every couple of years will find leasing to be an attractive option.

On the other hand, people who cringe at the thought of spending money unnecessarily will likely prefer to keep their vehicles for several years. Below, I’ll provide an objective view of leasing a car. We’ll explore both the advantages and potential drawbacks of doing so.

Advantages To Leasing

One of the main reasons why people enjoy leasing a car is because it allows them the privilege of driving a new vehicle every couple of years. If you typically grow tired of your car after a few years, leasing a new one might be an ideal alternative.

Another advantage is that monthly lease payments are usually lower than the payments for financing an identical car. For example, you’ll pay less each month for leasing a Toyota Corolla than you’ll pay to service the loan for buying that same Corolla.

Potential Downsides

Of course, leasing isn’t without its limitations. The first disadvantage is that you’ll never truly own a car that you lease (unless you buy it at the end of your contract). This is mostly a financial factor. If you buy a car and make the monthly payments for 5 years, you’ll own the vehicle after the last payment. You’ll still derive value (via driving) from the car even though you won’t by making payments. If you lease a car, you’ll be making payments into the foreseeable future. After 5 years, you won’t enjoy the benefits of owning the vehicle.

Second, most lease agreements limit the number of miles you can drive each year. If you drive more miles than you’re allotted, you’ll end up paying significant fees. That may seem like a reasonable limitation, but millions of people exceed their mileage limits each year.

What Is Important To You?

Ultimately, your decision regarding whether to lease or buy a car (or simply keep your old vehicle) will depend upon what factors are important to you. The manner in which you view your personal finances and the amount of money you’re willing to spend to enjoy driving new cars every couple of years will dictate your decision. The key is to approach car leases with an understanding of the pros and cons, and how they affect you.

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