Having a fancy brand new vehicle is nice and all, until something goes wrong. Fresh vehicles haven’t always had the time to fully “work out the kinks”. A used car, however, has played its part (a small part preferably) but is still reliable and suitable enough for another go-round with a different owner. If you’re lucky, you’ll get a deal on a new, not-so-new used car.
Used Vehicles Typically Cost Less
The average vehicle will likely have three owners in its lifetime. Between private-party and dealership sales, nearly 40 million used cars exchange hands each year. According to 2015 Used Vehicle Market Report, released Wednesday, said there were 38.3 million used-vehicle sales industrywide. People aren’t spending crazy amounts on cars either. In general, the most frequently searched price range for a used vehicle is under $5,000.
Used Car, New Car Quality
Since used cars for sale are everywhere, from apps to pre-owned dealerships, be sure to do some research before deciding. Avoid being scammed by learning about the car you’re interested in, speaking to a professional and obtaining reports. Used cars and pre-owned cars that are certified pre-owned ensure you get the vehicle suitable and safe enough for you.
If you’re planning to buy a vehicle that is less than 5 years old, consider one that’s certified pre-owned (CPO). A certified pre-owned car, according to JD Power, is a Late-model, low-mileage vehicle with a clean vehicle history report Multi-point Inspection and Reconditioning Process and extended warranty protection. If you aren’t buying from a used car dealer, but use a car finder or app, be sure to inspect and test drive the vehicle before purchasing. An estimated 20% of used car buyers don’t take the opportunity to test drive the car before buying it.
Getting a new vehicle is easier and less expensive than you think. Virtually all automotive dealerships offer the convenience of one-stop shopping through on-site financing offerings that assist consumers in securing financing. Most dealerships work with at least 5 to 10 different banks or finance companies so that they can offer competitive deals to their customers. Big car dealerships, in some cases, double as a used car dealer offering something for everyone.
Before buying your next vehicle, consider a used CPO vehicle from a trusted used car dealer to ensure you get the right care within your budget.