You just got your driver's license, or perhaps you just came across extra funds for a new vehicle. Now you probably heard that it’s always best to buy new, and that secondhand vehicles are just only a pocket trap, but is this really the situation?
That isn’t the case, it actually is far from the truth. With that said, we shall uncover the comparative truth for secondhand vehicle myths now.
Secondhand vehicles depreciate more than firsthand automobiles?
No matter how new an item is, it will always depreciate over time — objects are bound to deteriorate.
For the case between secondhand and firsthand automobiles, the latter depreciates quicker. The reason for this is because buyers purchase the vehicle at retail price, but as soon as it leaves the lot of the dealership the firsthand vehicle losses an estimate of 20% value. Why? This is actually the amount that the dealer is prepared to pay the buyer if he decides to sell the vehicle back.
Benching on this thought, but for the case of secondhand vehicles, most of its depreciated value would have already fallen within the prior owner’s hand. Ergo buying a used car is a prime opportunity to get the most bang for your buck — all that is left is knowing the true value of the secondhand automobile.
Is cash the only mode of payment for secondhand vehicles?
Just because it is being sold off from a third party doesn’t mean paying cash is the only mode of payment. This misconception does not have a definite origin, but it is safe to claim that the idea of paying only cash is anchored to third parties not having the access to alternative payment solutions. It is like paying for a friend’s item but only in cash since that is what he/she only accepts. This cannot be further from the truth.
Markets are much more progressive nowadays, and are able to cater payments in installments. Word of advise however, if a dealer requires only cash, that can be considered a red flag because quality car dealerships will always give you a variety of options for financing your vehicle purchase. Make sure to take your time in making your decision because purchase of a vehicular partner is important.
Secondhand vehicles aren’t safe.
The idea here is that secondhand vehicles are sold because of prior problems; such as safety issues. Because of this, people mainly share their concern of the vehicles integrity. Yes, it is right to consider a vehicle for safety reasons but you can rest easy when purchasing vehicles from reputable dealers.
In terms of safety standards, automobile markets have come a long way and provide an inventory of vehicles that are equipped with modern safety standards such as:
For a clearer idea of the safest brands that received the best score from NCAP in the Philippines, you have car brands such as: Honda, Isuzu, MG, Toyota, Hyundai, Mitsubishi, and Nissan. Other brands that has not been mentioned does not entail that they are unsafe, however, the ones mentioned are just the top ones picked for 2021 ASEAN NCAP.
Moving forward, businesses would not want to jeopardize the legitimacy of their brand just to make a quick sale. The truth is that vehicles being offered are vehicles that the brand guarantees satisfaction and safety. You just need to find the perfect one suited for you and your needs.
Secondhand vehicles are just misunderstood, which is why JBA Philippines provides you a transparent platform; allowing you to better understand what benefits you can attain from the secondhand automobile market. We at JBAP provides top notch insight for vehicle condition and removes the guesswork so you can make the best decision for your next vehicle purchase