Cars can be expensive, and many parents help their teenagers out by purchasing them their first car. If you are looking to purchase a first car for your teenager, you may be torn between buying a new car or a used car. While many people love the reliability and warranty that comes with new cars, there are equally as many benefits associated with buying your teen a used car. Read on to learn more about those benefits.
Used Cars Cost Less
The number one benefit associated with buying a used car for your teenager is that used cars cost less money. Most people are on a budget, and as such, may be looking for the best deal to help get their teen a vehicle to get back and forth from school and work in. Teens do not need the flashiest cars and are happy to have an automobile. Used cars are available in a wide array of price ranges, helping you to find a car for your teenager that fits within the budget you can afford.
Used Cars Are Cheaper to Insure
Another benefit to buying used cars for teenage drivers is that used cars are cheaper to insure. Teenage drivers typically have higher insurance premiums when compared to experienced adult drivers with decent driving records. As such, parents are often looking for ways to keep their insurance rates as low as possible when they have a teen driver. Newer cars are more expensive to insure. Opting for a used car instead of a new one can help to keep your auto insurance rates as low as they can be for a teen driver.
You Won't Be Underwater if the Car Gets Totaled
The final reason why used cars are ideal for teens is that the car will not be underwater if it gets totaled. New cars lose their value as soon as they are driven off of the lot. Because of this, many new car owners are underwater or owe more than the car is worth, for some time after buying a car. Teens are more likely to be involved in a car accident than an adult, and if they total a new car, insurance may not cover the total cost of what you owe on the vehicle because it is no longer worth what you paid. When you buy a used car, the car has already taken a depreciation hit and is more in line with what insurance will pay if the vehicle gets totaled.
Used automobiles can be just as reliable as newer automobiles and many even come with warranties. Always have a mechanic examine a used car before purchasing it and do your research on the value of the vehicle. Doing both of these things before you purchase a used car for your teenager will help ensure you are buying a reliable automobile and are paying a fair price for the car.
For more information, turn to a company such as On-Trac Auto Sales.