The price of everything is going up in Jamaica from Food to housing.
If you’re thinking of buying a brand new vehicle, you might want to think again before taking the plunge.
Especially, if you’re planning to buy a house with a (National Housing Trust)NHT loan soon.
There are many reasons to buy a used car, rather than a new one.
With so many high-quality pre-owned vehicles on the Jamaican market, it’s often a more affordable and wise decision.
In this quick post you’ll learn a few reasons why most Jamaicans should consider buying a pre-owned vehicle.
Luckily here in Jamaica you can get great used vehicles at affordable prices. Here are some things to consider if you’re trying to decide between buying a new car or a used vehicle.
1. It More Easier To Spread Payments
When you buy a used car, you can usually spread out your payments more than if you buy a new car.
This makes it more affordable for many Jamaicans. In addition, the finance options available for used cars are often cheaper than those for new cars.
This means that you can pay off your car in smaller installments each month.
2. You Get More For Your Money
If you’re looking for a great deal on a car, buying used is the way to go.
With the economy in a downturn due to the COVID-19 pandemic, many people are selling their vehicles at highly discounted prices.
So if you’re in the market for a used car, now is a great time to shop around and find the one that’s perfect for you.
Some great places in Jamaica buy a used car are in Mandeville and Hagley Park Road in Kingston.
3. You Won’t Have To Struggle That Much
The pandemic has caused job loss and company restructuring, leaving many with an uncertain future especially in the Jamaican tourism sector.
If you need a car, buying a used one can help ensure that, should anything happen down the road, you’ll still be able to meet your daily obligations.
Rather than spending an arm and a leg on new car payments that could have been avoided.
4. You’ll Have Money To Pay For Insurance
If you buy a used car, you will probably be able to spend more money on car insurance each month.
This will help you avoid monthly payments with high interest rates. You might even be able to pay for the car insurance all at once.
That way, you will not have to worry about paying extra interest throughout the year.
5. Plus You’ll Get Cheaper Insurance Rates
When you buy a used car, you not only save money on the ticket price, but on monthly insurance premiums as well.
This is because insurance rates are much higher for new vehicles than for used cars.
6. You’ll Feel Little To No Depreciation
A used car in Jamaica that is at least three years old will depreciate at a much slower rate than a brand-new vehicle.
You will, therefore, get more use out of your investment without having to worry about the value dropping significantly year after year.
7. You’ll Have To Money To Use Somewhere Else
When you buy a used car, you can save money to spend elsewhere.
You can use that money to pay your bills without worry or treat yourself (guilt-free) to other experiences throughout the year.
8. Alot Of Used-Cars Are Still Under Warranty
The most common question people ask when they are buying a used car is about the warranty.
Many used cars come with the remainder of their factory warranty. Most certified pre-owned vehicles and used cars have been through a rigorous inspection process and come with an extended warranty.