Other than your house, a car might be the most expensive purchase that you’ll ever make. And while some are willing to invest in brand-new vehicles to assure the car’s reliability and durability, others put affordability as their top priority.
A used automobile listed for sale here in the Philippines normally has a price tag thousands of pesos cheaper than that of a new one. But here’s the thing: cheaper is not always better. There are more factors you should carefully consider before taking the leap. Not sure where to start?
Here, we list down four pros and cons to getting a pre-owned vehicle, so you don’t have to drive home in a second-hand clunker.
Two reasons to go for used cars for sale in the Philippines:
1. It’s much more affordable.
It goes without saying, the whole point of buying a used model is to save money. To illustrate, while an entry-level brand-new Toyota Vios sets you back P841k, the price of a second-hand Vios is just somewhere between P300k and P500k. This is according to Philkotse.com, one of the most reliable websites to buy and sell cars (both new and used) for Filipinos.
Another reason adding up to affordability? You are able to pay off a second-hand car much faster, saving you financing fees.
A used Toyota Vios can be had at somewhere between P300k and P500k
2. The depreciation benefits
Specialists point out that a new car loses a considerable portion of its value as soon as you drive it off the dealership, and up to 40% during the first year. On the contrary, with a used vehicle, it’s feasible to take it home, drive it around, and still eventually sell it with little loss in equity.
Not to mention, taking home a pre-owned vehicle can also help you lessen insurance rates.
Comparing the cost of new and used cars
Two drawbacks to buying used cars for sale in the Philippines:
1. There are more hidden risks
Bringing home an old vehicle with just a little piece of information about it might make you end up with a clunker. And by the time that happens, pondering on why the seller wanted to get rid of it in the first place would be too late.
When you opt for an old machine, there are no guarantees that it is going to operate soundly for the next five or 10 years. It can be on the blink any time, leading to higher repairs and maintenance costs.
When you are the second owner of a vehicle, it is unsure if it is going to operate soundly for the next five or 10 years
2. You get lesser choices on features and colors
Though the selection of second-hand cars may be wide, not everyone can get the perfect model they have set their eyes on. Just imagine the challenge in finding the exact hue of bright pink for your dream Volkswagen or a Ranger with an aggressive snorkel in heaps of used car lots.
At the end of the day, you will have to choose between spending possibly forever on your search for the perfect car you had in mind or…accept what is in front of you.
The conclusion: Used cars for sale in the Philippines—yay or nay?
In a nutshell, there’s a lot to take into consideration when shopping for a pre-owned automobile. Know what you can afford and check the current trade-in values of second-hand cars for sale via reliable sources like Philkotse.com. Whatever you do, try to balance what you want and what you really need. Your next vehicle might be just a few clicks away.
What do you consider most when looking for a car? Tell us in the comments!