Pros and Cons of Buying Older Used Cars

Cars are now a popular mode of transport to get around in cities. However, not everyone can afford a new car – and that’s totally fine. If your budget doesn’t stretch to buy a new one, a used car can be a great alternative. 

There are many roadworthy used cars available on the market. The selection of brands and models is much more diverse, from newer to older cars or those over 10 years old. Typically, their prices are also more competitive and affordable.

Still, many wonder if older cars are a wise choice due to their age. Are they still worth considering? Let’s explore the pros and cons of purchasing older used cars.

See also: 3 Things to Do After Winning an IBID Auction

Pros and Cons

Generally, a used car’s condition depends on its owner’s maintenance. This means many used cars are still very roadworthy, so you must be very selective when choosing one.

Buying a used car is often more profitable because its price is lower due to depreciation, typically ranging from 20 to 50 percent or even more, depending on the car’s year and condition.

For example, a new LCGC car priced at Rp200 millionmight resell for Rp140 million to Rp160 million. Tempting, isn’t it?

Used car taxes are also usually cheaper since vehicle tax is based on the generally used car market prices. Additionally, the administrative process is much simpler, allowing you to drive the car home right after the transaction.

However, some disadvantages often appear, including the risk of getting a used car in poor condition.

Furthermore, the availability of certain brands, models, colors, and production years is not guaranteed, as it depends on market conditions. Used cars over 5 years old may not feature the latest advancements.

See also: Buying a Used Car with a Loan at IBID: Check Out the Requirements

Tips for Safely Buying a Used Car

Considering the risk of buying a poor-quality used car, you need to be very careful when choosing one. So, it’s best that you bring along someone who really knows about vehicles to help you out.

An easy way to find a used car that matches its price is through IBID - Balai Lelang Serasi. 

At IBID, all auctioned cars are inspected by Astra Car Valuation (ACV) to determine their condition. The inspection results are then openly shared.

What’s more, IBID has a large inventory of used cars. If you’re lucky, you might even find a used car for underRp100 million. They also offer credit options with low down payments and terms of up to 48 months.

It’s very easy to join an IBID auction. You can download the IBID app from the Play Store and App Store and sign in as an individual or a company. If you don’t have an account, you’ll need to register first.

Enter the brand and series you’re looking for in the search bar. Then, select the unit and carefully review its description and auction details. 

After that, purchase an Auction Participation Number (NPL) deposit by choosing the car and clicking the NPL type. Select the location, auction date, and the quantity of NPLs you want to purchase. Remember, an NPL is valid for only one auction item.

See also: Here’s How IBID Inspects Used Cars for Accident and Flood Damage

Double-check your NPL purchase details before making a payment. Once payment is successful, you’re officially registered as an auction participant and will receive a confirmation email from IBID.

You then need to follow the auction schedule and make your best offer. If you win, pay for the unit within 5 working days after the auction closes.

If you lose, your NPL deposit will be fully refunded to your registered account within a maximum of 3 working days.

These are some details about the pros and cons of purchasing older used cars. The final decision is yours, but if you’re looking to buy a used car conveniently and safely, IBID is a solid option.

IBID is a subsidiary of PT Serasi Autoraya (SERA), dealing in auctions of vehicles, heavy machinery, gadgets, and lifestyle products. It is not only professional and reliable but also offers an easy consigning process.