While the smell and feel of driving off the lot in a brand new car may be intriguing, buying a used car is usually a better bet. Considering the pitfalls of depreciation, the newfound affordability of a used vehicle, extended warranty options and the endless amount of makes and models available, choosing to buy a used car over a new one is a no-brainer.

Depreciation – Most know that the value of your new car dramatically plunges as soon as you leave the dealership, so buying a used vehicle can intercept the hard hit of depreciation. Used cars have already lost their value, so you don’t have to suffer through the hit as the first owner must.

Affordability – Used cars are more affordable than new cars. Waiting just two years after the model year can decrease your purchase price by 20-30%. You may also be able to afford additional options like a fancy sunroof, heated seats or performance wheels. With a cheaper purchase price, you may be able to get a better model with enhanced features. Further, used cars typically have less expensive insurance premiums and registration fees.

Extended Warranties – The quality and reliability of vehicles are continually improving, lasting more than 10 years if you take care of them. But, to further ease your mind, manufacturers offer extended warranties for used vehicles. Usually referred to as pre-owned vehicles, these cars are inspected to make sure they are still performing up to par, and will often come with longer mile/year warranties than a new car.

Better Selection – The pool of used cars is varied, allowing you to easily compare between brand, make and model. Look for the best deal online on sites like Cars.com or Autotrader.com or check out auto auctions or retired rental car fleets for a thrifty alternative to dealerships. More auto choices gives room for negotiating better deals, whether at the dealership or dealing with a private seller.

This was a guest post by GoBankingRates.com, a site that provides daily updates on the latest CD rates, finance information and more.