Educated Decision
We have the ability to access more information on both new and used cars, than ever before. This gives us the ability to research every aspect of purchasing a new or used vehicle. Knowledge is power and there's just no excuse to be uninformed.
Lower Insurance Costs
Your car's value is the primary item your insurance company considers when determining rates. That makes sense; the more valuable a car, the more money they'll potentially have to shell out in the case of a wreck. It's understandable that a BMW purchased used will cost less to insure than one purchased new, and that all comes back to depreciation. You might not notice the difference between your 3-year-old BMW and a brand new one, but rest assured, your insurance company will.
Cheaper Registration Fees
It depends on where you live, but older cars often cost less to register. Some states vary based on a car's age, weight, or even power. On top of registration, many states charge yearly taxes, which are also often based on a vehicle's age.
Cars Last Longer Now
There's a reason nobody sells cars with 5-digit odometers today. Cars last longer than ever! In terms of mileage, 200,000 may not be the new 100,000, but nonetheless, automakers have taken impressive strides. Used-car shoppers should still be sure to have potential purchases inspected by a mechanic, but often concerns about a used car's remaining lifespan deserve to be put to rest.