Many people who are looking for a used car say that price is their first consideration when shopping around. Used car buyers now have a wide range of choices, models and features at prices that are much more affordable than those of new cars. Extended warranties and certified pre-owned programs make buying used cars less of a gamble.
Used car prices are the primary reason people buy used. A new car begins to depreciate as soon as it's driven off the lot. By purchasing a used car, people avoid this sudden drop in value.
If you buy a used car, you can also avoid certain hidden costs. New car prices include the cost of transporting the car to the dealership and other fees charged by the dealer. Low used car prices mean that you pay lower taxes. As an added money saver, insurance premiums are often lower for used cars.
Perhaps most important, used car prices are negotiatble. Buyers can negotiate the price of a new car, but dealers won't be as willing to compromise as they would for a used vehicle. When you buy a used car, you may be able to negotiate significant savings, depending on the car's overall condition, mileage and other features.
Shoppers may find that they have more choices when looking at used cars than new cars. Features and extras that might put a new car out of a buyer's price range may be an option if the shopper is willing to buy used.
With so many used cars on the market, the options can be overwhelming. Before looking at used cars, make a list of the features you need in a car, what makes and models you like and how old a car you're willing to consider.
Questions to ask before you buy a used car include:
Generally, used car prices for two- to five-year-old cars are very affordable. Older used cars may be an option as well, but they're more likely to be in poor condition or have problems that could be expensive to fix.
Research is vital when you buy a used car. The previous owner's driving habits, accident history and repair work should be verified. Used cars may still be under warranty. If not, extended warranties may be available.
Certified pre-owned programs can make buying a used car less risky than it may have been in the past. Today, buyers of used cars benefit from being able to choose from an array of vehicles that are more reliable and durable than ever, decreasing the likelihood that the car they buy has significant problems.