The most obvious advantage among pros and cons of buying a used car is that you get the car at a cheaper price therefore you have to apply for a loan of a lesser amount and therefore, you are liable to pay a lesser interest on that too! Well, you can consider this advantage connected to the first one for sure but read further where we will let you know how this can be a disadvantage too. Car insurance is another must-have! You are meant to get your car insured if you buy an old one or a new one. But the insurance premium for a new car is comparatively higher than an old car. If you search for a good vehicle in the used car market, the previous owner has already paid the hefty premiums when the car was new. Now you can easily pay the lesser premiums because the car’s IDV (Insured Declared Value) is lesser than what it was before. If you buy a used car from a brand authorised dealership, you get a warranty on the repair. Read this carefully. In my case, I bought a Maruti Suzuki car from a True Value dealership and the car was still under its original warranty from the factory.
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