When trying to purchase a car, many key decisions require incredible amounts of attention. First of all, you need to decide which type of car you should buy, like SUVs, sedans, or trucks. In addition, you will need to finalize the model, make, and color. While these decisions are highly important, there remains a bigger decision that could save you money, which is between buying new vs used cars.

Going through the process of buying a car can be exhilarating, and buying a new car is also a huge expense. You need to be extremely sure that you have your finances in place when planning to buy a car. On the other hand, buying a used car requires a lower amount and involves fewer risks. Here are some reasons to select the latter when deciding between buying new or used cars:

1. Depreciation
Most cars experience 20 to 30% depreciation in the initial two years of purchase. So, any used car that is being sold after many years of ownership will cost you 20 to 30% less than the market value of the car for a new model. In the debate of buying new vs used cars, this makes it better to buy a car that is still in favorable condition and saves you money.

2. Better options
If you are paying an approximately 30% lesser price for a car, you will most probably have enough of a budget to go for a better car. This way, you spend enough money to buy a new car but purchase a better car with better features and more options.

For example, if you can spend $20,000 on purchasing a car, you can buy a new car that will offer limited options and features. Also, it will depreciate quicker within two years of purchase. The alternative is to buy a used car of a later model that is around two to three years old. This would give you a better car with better features that may not have gotten in a new car with your budget. Depending on your price range, these new features can include heated seats, moonroof, alloy wheels, and 6-disk changer, among many more features.

3. Improving quality
Around a few decades ago, buying a used car was considered as good as buying junk. Cars manufactured at that time were designed to last for no more than 10 years. However, cars driven on the road have much higher longevity if they are properly maintained. So, even if you buy a car that is two to three years old, it can still be driven for seven to 10 years.

4. Extended warranties
Many car manufacturers have started providing used cars with proper certification and extended warranty. While this can increase the upfront cost by a little, it can save you thousands of dollars in the long run. Having an extended warranty also means that you will be saved from the costs of repair if something goes wrong with the car while it is under warranty.