Want a new car but don’t want to pay new car prices? Hate having to pay outrageous insurance premiums or the fact that the moment you drive the car off the lot you just lost thousands of dollars? If you answered yes to any of these questions, buying a used car is probably the right choice for you!
The average new-car purchase is almost $37,000! However, when buyers purchase a used vehicle, the savings usually amount to anywhere between $10,000 to $15,000 less. Of course, there are a ton of factors like condition, car history, and mileage, but as a general rule used-car buyers can expect to save almost half of what they would have paid for a similar new vehicle.
While some detractors of used vehicles point out that newer models come with the latest and greatest features like the most advanced safety tools and entertainment systems, these are just merely extras that are not necessary. These additional features often put an otherwise similar performing vehicle outside the budgets of most average buyers.
There is no better time than today than to buy a used car. In the past, some unscrupulous dealerships would sell "lemons" or used cars they knew were faulty to unsuspecting buyers. The industry as a whole has worked hard to distance itself from these few bad apples that tarnished the reputation of reputable used car dealerships. That is why practically every certified pre-owned vehicle today comes with a warranty to give buyers confidence.
Besides the lower interest rates and initial cost savings, here are a few other benefits of buying used:
Buying a used car also means you can the best model of a previous year’s lineup. Buying new might limit you to only the most basic trim, but buying used could enable you to get that year’s top trim model with all the bells and whistles you could want at a great price!
Purchasing used vehicles is also not just something that a small minority of people are doing. In fact, the majority of people buy used vehicles since there are two used- car buyers for every new-car buyer.
Getting a certified pre-owned vehicle is not only an option for those that cannot afford to buy a new vehicle. Rather, there is an increasing trend for people not wanting to budget a large portion of their earnings towards new car payments. Every year, payments for new cars look more and more similar to mortgage payments. People are becoming increasingly reluctant to pay such a large amount of money on a depreciating asset with a short lifespan.
In short, buying used vehicles gives the modern buyer great options at great prices. These vehicles still perform just as well as their new counterparts and the only difference is they have some miles under the hood.