While there are plenty of good reasons to buy a pre-owned hybrid SUV, there are also some cons that may make a new vehicle seem like a better option. While you may be able to afford a new SUV with the standard features, why not get a used hybrid SUV with all the bells and whistles? Buying a used vehicle leaves you room to get more features like a leather interior, a sunroof or moonroof, automatic climate control, a heated steering wheel, a power liftgate, all-wheel drive (AWD) drivetrain, and more. That’s longer than many factory warranties on brand-new hybrid SUVs. If you shop an automaker’s certified pre-owned (CPO) lineup, they sometimes include powertrain warranties that last up to 100,000 miles. However, when you shop with a new-car dealer, you’re stuck with only that automaker’s models. When you go to a used-car dealership, you can find various years, makes, and models of hybrid SUVs. So, not only can you save some money on your monthly loan payment, you can also trim that insurance bill as well. This is because they generally cost less to repair or replace than new cars fresh off the lot. Generally, used cars will cost less to insure than brand new ones. Better yet, if you buy a five-year-old hybrid, you’ll bypass the bulk of its depreciation. If you purchase a year-old hybrid, you’ll already be through the significant depreciation phase. That brand-new SUV may look great, but there’s a good chance you’ll be upside-down on the car loan - owe more than it’s worth - for the first few years of ownership. New cars can lose as much as 20% of their value in just their first year on the road and 15-25% of their value per year until they are five years old. A smaller price tag can also open the potential for paying cash for the vehicle instead of financing. This lowers the amount you will need to finance, reducing your monthly payments and interest charges. A used hybrid model will be priced thousands less than its equivalent new version. If you buy a new car, you will pay a premium. Here are some of the more persuasive selling points: Lower Price There are plenty of great reasons to opt for a reliable used hybrid instead of a new one. Is a used hybrid SUV the right decision for you? Let’s weigh the pros and cons so you can make an informed decision. Buyers want to save not only on gasoline, but also on the cost of the vehicle by optioning for a used model. The result is a boom in the used hybrid SUV market. This is especially true among SUV and crossover buyers, as these large family haulers tend to have significantly lower fuel economy than sedans or hatchbacks. With rising gas prices, car buyers are seeking more fuel-efficient models.
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