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Why Buying a Second Hand Car is a Great Decision for Young Generation

The young generation of today is inching towards living the minimal lifestyle. This means that they want to spend less on materialistic things and more on experiences. This is why they opt for buying a lot of second hand things as it saves up on money. This is the reason why it is a great decision for this generation to opt for second hand cars rather than paying an exorbitant amount for a new one. In case you are thinking how do I sell my car online or how do I buy a car online and need someone to assist and guide you through the process then turn to CarSwitch. They are an online service provider that specialise in ensuring that you get the best deal, whether it is selling or buying a used car. The best part is, they also do all your paper work, help close deals and ensure that you have a smooth experience while dealing in used cars in Dubai, specially. It is best to go to such trusted service agencies and make sure that your money is in utmost safe hands.

Now that we have the groundwork laid out and know who to turn to when we need this service, let us now try to understand why you will be needing this service to begin with.

Save those big bucks! – there is no one who does not like saving money and especially there is no body in this young generation who does not like saving money. When you buy a used car instead of investing in a new one, you end up saving a lot of money. This also in turn means that you can change your car more regularly as opposed to when you buy a brand new one because the money involved is comparatively lesser and hence does not hurt.
The depreciation is minimized – new cars depreciate as soon as they leave the showroom and thereafter at a faster rate as compared to a new car. It is becoming easier to buy used cars that are one-three years old and they make for a great investment. When a person chooses the right used car, drives it and sells it after a while, there is very little loss in equity. The rate of depreciation usually dips and becomes stagnant around year two and then picks up again after year five. So do your research about how old your car is and then make a decision accordingly.
Reduced Insurance Costs – the value of the car determines the value of the insurance that is needed. The lesser the value, lesser will be the cost of the insurance that is needed. Another thing that is of advantage is that certain elements of the new car can be dropped from the insurance plan, further reducing the overall cost.
Less Registration Fees – the fee that is charged for registration purpose is most often based on the transaction value of the car. Hence, when you buy a used car, you end up paying less registration fees and save up on the otherwise expenses.
Getting higher Return on Investment – the ultimate reason for buying a car is for utility purpose and sometimes leisure purpose. You can get the same benefit of these from driving around a used car as you would with a new one. This saves up on a lot of money and also does not deprive you from the joys of owning a car.
Less Risk involved – the thing with a new car is that it is often at risk of getting stolen or getting damaged. These get reduced considerably when it is an old car. This helps you avoid any loss of money and ensures that your car is also safe at the end of the day.

We could go on about why buying a second hand car is a great decision for the young generation, but we will leave you with these thoughts to begin with. Analyse and understand each one of them as they will lay the foundation towards making a sound decision and owning a car in the most cost-effective way possible!

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