Knowing the details on the savings you receive when you buy used Hyundai vehicles over new ones can help you make an informed decision.
Hyundai New Car Prices vs Used Car Prices
It's always tempting to buy new vehicles, but when used ones offer so many savings, it may be even harder to resist those deals.
The Savings of Hyundai Used Car Prices
There's no question that when you look at Hyundai used car prices and Hyundai new car prices that you will save money if you select a used vehicle over a new one. All you have to do is compare similar models that are on the car lot to models that are a few years older and you will quickly see the difference. But there are a lot of other factors that go into buying a new vehicle. You don't want to purchase an unreliable vehicle, for example, just because you like the price tag. You also don't want to buy something too old or something that is undesirable to you in other ways. If you can find a slightly used Hyundai that is in good condition with few miles, you can save thousands of dollars off the Hyundai new car prices. If you are willing to go with an older vehicle with more miles, you can save even more.
Other Savings Areas: Insurance
When you look at Hyundai used car prices, keep in mind that the savings you receive on the sticker price up front is not the only place you will save. You will also likely save quite a bit on insurance on an older, used vehicle than you would a brand new option. There are many reasons why insurance will be lower. First, the vehicle is worth less money upfront. If you total the vehicle, the insurance agency will have to pay less money to you in order to replace it. Second, the parts for the vehicle likely cost less money than the newer vehicles. So if something happens and you need a repair that your insurance covers, they will have to pay less money to fix the vehicle than they would a newer model. Third, the safety of the newer vehicles is often higher, but they also have more safety features that can make it more likely the insurer will have to pay money to you in the event of an accident.
More Savings: Registration
You will also save money when you visit your state's DMV in order to register a used Hyundai. When you register a new vehicle, the prices are always going to be higher. There are a number of reasons for this, but when you take a look at the DMV determining factors, it is evident that a newer vehicle will cost more. They will consider the type of vehicle, including the year and perhaps even the weight. Heavier vehicles will cost more than lightweight vehicles. They will also tax you on the vehicle price, so the more expensive the vehicle is, the more you are taxed. They will also consider the trade-in value of your old vehicle if you traded one in for the newer version. If you register for several years at a time instead of just one year at a time, of course that will cost more. If you are able to transfer your old license plate, that will cost less than getting a completely new one. Some states consider things like place of residences, fuel type, number of cylinders and other items. These items vary by state, but you can rest assured that a 2017 Hyundai will cost more to register than a similar 2014 Hyundai.
You have a number of things to consider when you are looking for a different vehicle. You may lean towards new because you think the new vehicles are more reliable and safer to drive. However, Hyundai vehicles that are barely used and have very few miles on them can be just as safe and reliable. You will want to weigh the options and consider every angle. If you get a used Hyundai with quite a few miles and years on it, you may save a lot of money, but there could be repairs that have to be made in the near future. On the other hand, if you get a certified, pre-owned vehicle, you shouldn't have to worry about repairs any time soon. These vehicles have been checked over and have the manufacturer guarantees on them from the dealership. The way to save a little money is to find a vehicle with just a few years on it and as few miles as possible. You will save several thousand dollars and you won't have to worry about the vehicle having been put through too much before it was turned over to you. Saving a few thousand dollars is always positive, but you have to keep in mind that you will keep saving money with a used vehicle. You will have to pay less insurance premiums and less registration fees. All of that adds up as a great down payment for your next used Hyundai in the future. You may have to be flexible as to what type of vehicle you get and what features are available, but that can be worth it as well. There are generally enough used vehicles on the market that you can get pretty close. When you buy a new vehicle, you can specify those things and get exactly what you want. If you are willing to bend a bit and be flexible on color and other features, you can get a nice used vehicle much cheaper. Visit the Hyundai dealerships around you and start comparing the new and used prices and features in order to find the best deal for your situation.