Dealers love to put families in new minivans but might be less excited about a used minivan purchase. Enthusiastic salesmen introduce potential buyers to sparkling Kia minivans, newfangled Chrysler minivans or last year’s Dodge Grand Caravan model. However, there are some benefits of going with used minivans that can be easier on a driver’s or family’s pocketbook.
Depreciation – a vehicle can depreciate up to 25% of its value when driven off of the lot. This is an obvious reason that many drivers choose to go to the pre-owned route for their minivan purchases.
Lower auto insurance – the newer your vehicle is, the more you’re going to pay for auto insurance just to keep it on the road. Families with limited incomes know this fact, and choose their used minivans accordingly.
Lower liability – the specter of body damage is always an issue for drivers, especially when they’re driving around in big minivans, which present a very large target. New minivans can incur a lot of cosmetic damage that buyers may feel responsible to fix. A used minivan model can come with a more relaxed approach toward keeping the body exterior immaculate.
Less complex vehicles – car shoppers going to the dealer’s lot may be wowed by all of the great features of last year’s models, like in-dash GPS, new DVD features or other items. But when buyers don’t want to pay for these kinds of features, it’s the pre-owned minivan they go for.
In short, used minivans can come with far less liability and present a better return on investment. Make decisions based on a household budget and profit from driving what you can afford.