Buying a used car has its pros and cons, but if you’re concerned that you might be tricked into buying a junker, here’s some reasons why you should give the used car market a shot.
This is the most obvious reason for buying a used car as opposed to a new one, but it still holds true - statistics say that most brand-new vehicles lose the majority of their value within the first three years off the dealer’s lot, which means even 3-year-old models are significantly cheaper than new ones.
It used to be that cars fell apart a lot faster, but these days, cars are built to last longer. That translates to lots full of used cars that are almost like-new and more reliable than ever before thanks to increased competition and better engineering innovations.
If you’re still suspicious of buying a used car, it’s easier than ever with the Internet to access a Vehicle History Report that’ll give you detailed information on your vehicle’s service history and whether or not it’s been through any collisions or accidents.
Most automobile manufacturers these days have certified pre-owned, or CPO, programs. What these programs do is take in used cars produced within a certain time frame, subject them to a rigorous inspection, and put them back on the market if they’re in like-new condition, which means CPO vehicles are more trustworthy than your typical used car.
While used cars often have higher interest rates on loans than new cars, loan interest is at an all-time low at the moment, so it’s prime time to get your used car financed.
Ever wanted a more upscale or high-end vehicle, but couldn’t afford it? If you buy used, you can opt for a luxury vehicle for the price of a more mainstream choice without missing out on all the comforts and amenities of a more sophisticated car.