Your parents might have insisted on buying a brand new car every few years, but your budget and theirs is not exactly the same. It is time for you to replace the car you have and you’re just not sure what direction to go in. Mom and Dad got along fine with new cars, but used just fits your bank account better.

If this sounds like your situation, relax. There are some benefits that can go along with buying a used car instead of following in Mom and Dad’s footsteps. The points that build up a case for buying used include:

The lack of a depreciation hit – Brand new cars do not hold their value. In fact, you can take a huge hit in depreciation costs that end up putting you in an upside down situation in a loan. Used cars have already taken the hit. Their value on the car lot will generally be the same once you drive a purchase down the road.

The ease in paying them off – When you opt for used cars rather than new ones, you can generally position yourself better to pay off the buy faster. In some cases, you might even be able to get a great used car for money you have available. This can translate into no car payments for you, which is always better for the budget.

The information that is available today – Buying used was once a complete shot in the dark. Today, you can insist on getting car history reports that will clue you into any problems that might be associated with a vehicle. Certified used cars, too, offer a little more security than their counterparts of the past.

Warranties are available – It is possible to purchase repair warranties on used cars today. This means even if there is a problem with a purchase, you might not be stuck holding the bag.

Buying a new car every few years works for some, but there is merit to purchasing a used vehicle. If this option better fits your financing, go for it. Just take care to research a used buy closely and cover your basis in regard to purchase protections.