Benefits of Purchasing a Used Vehicle
Purchasing a used vehicle comes with a multitude of different benefits. These range from advantages in the shopping process itself, down to the actual performance of the vehicle in mention. The first benefit of any pre-owned vehicle is the price. However, if you compare two vehicles of the same model but different model years against each other, you may find an incredibly similar performance profile, with the main factor that separates the two being price.
Taking a real-world example into consideration, a 2016 Chevy Colorado offers the same three powertrain configurations as its brand-new 2021 counterpart. If you choose either the base 2.5L four-cylinder or the optional 2.7L Duramax turbo-diesel engine, then you will get the same exact power and torque output in the 2016 and the 2021 model. If you chose the available V6 engine, then you will have less performance in the older truck - a grand total of three less horsepower and six fewer pound-feet of torque. We doubt that anyone will be dissatisfied with having 305 hp at their command rather than 308 hp, especially at the substantially lower price of a used 2016 Colorado.
Another massive benefit for pre-owned vehicles is a much less aggressive depreciation rate than a brand-new vehicle. Depreciation is when the value of a product, such as a vehicle, falls after its initial purchase. According to CARFAX, depreciation is the most prominent within the first year after the vehicle was manufactured, with a new vehicle losing roughly 20% of its overall value within that year. This means that if you were to purchase a brand new vehicle for $30,000, then it’ll be worth approximately $24,000. By buying a used vehicle, even one that is only a year old, you avoid that initial depreciation and get a lot more of your investment back when it comes time to trade in your truck for a newer model.
Certified Pre-Owned (CPO) vehicles are a massive advantage when shopping for a used automobile. This is because CPO vehicles are unlike any other pre-owned vehicle you’ve ever purchased, and in a good way. Unlike traditional used vehicles, CPO models have been carefully chosen after an in-depth selection process that ensures only the highest-quality vehicles are sold under the CPO label. This is primarily done through a rigorous inspection process that leaves no stones unturned to guarantee the vehicle is working in the best possible condition that it can be upon your sale.
To make the idea of CPO vehicles even more intriguing is the inclusion of warranties granted by Chevy. These warranties are unlike any you can get with a traditional pre-owned vehicle as a CPO Chevy vehicle will give you such as a limited powertrain warranty, for example. This warranty is valid for up to six years after your purchase date, as long as you’ve traveled fewer than 100,000 miles, and it comes with Roadside Assistance as well. In addition to this, you’ll also receive a Bumper-To-Bumper Limited Warranty for an entire year, or until 12,000 miles traveled. To keep your vehicle in its best shape, your CPO vehicle will also come with a Scheduled Maintenance Program, allowing you to bring your vehicle in for free scheduled maintenance for up to two years after purchase, or up to 24,000 miles traveled.
Vehicles are commonly traded in to get some extra cash to put towards your next vehicle. Trading a vehicle is what keeps the pre-owned market alive as it always ensures a constant flow of vehicles for future customers to purchase, meaning there’s plenty of reasons to trade in yours. At DePaula Chevrolet, we offer a competitive trade-in program for our customers. Whether you’re shopping for a new vehicle or a used one, trading in your current vehicle bestows many advantages to aspiring shoppers. This means you’ll not only find the perfect vehicle at a competitive price when shopping at our dealership, but trading in your old one will guarantee some financial relief on your next purchase. Receiving your trade value estimate is a simple process and can be done either in-person or on our online website through our “Value Your Trade” tool.
For those looking to utilize this service and for those who don’t have a vehicle to trade-in, we offer our on-site finance center. At our finance center, we can show you how to apply for different financing options, and we also offer tips for maintaining an excellent credit score on our online website. Applying for financing deals with us is simple and straightforward. If you’re interested in applying for financing, you may either visit our on-site location or apply directly through our online website.