Today’s auto market has changed drastically. To an extent. Fifty years ago, we didn’t have the Internet and people had to go to the car lot to find what they were looking for. But, nowadays it’s easier to find good information that can help consumers such as yourself make the best conscious decision to find a car that will fit their needs. This is particularly true when purchasing a pre-owned vehicle. We’ve outlined a few key points for you to consider when purchasing a used vehicle to help you make the best decision when adding your next auto.
You’re purchasing the other half the previous owner paid for. This is known as ‘Depreciating Value’. As soon as someone drives a brand new car off the lot, it begins to lose its value as much as %20-50. Cars are not assets, they are technically liabilities to the bank, therefore the first owner of the car generally pays for the interest of that car for the first two-three years of ownership. Statistically speaking, most people replace their cars every 36 months, which means they never paid on the principle of the car. In other words, by purchasing a used car or truck, you are paying for the other portion the previous owner did not. This can save you thousands of dollars in the long run depending on the market, the vehicle’s real value and the interest rates.
There’s plenty of inventory to go around. With all the previous lease customers having to keep their mileage down, you have a plethora of cars, trucks, SUV’s to choose from including low miles. If you prefer an older style model compared to the new look, it may be easier to find with used cars versus new. New car lots tend to keep the most updated models and you may find that even their used car lot be scarce with older models. If there’s something specific you’re looking for, just ask.
You can find out the car’s history! We will have a detailed list from a company such as TrueCar or Kelley Blue Book that can help you access the health and longevity of the car. Longevity meaning, accidents, damage, etc. This is always beneficial to request.
In many cases a used car will give you just as much life as a newer model. There are really endless possibilities here. Most people look at a car as a necessity, not a luxury. Rule of thumb is buy used and keep your pockets full. By following this rule, you’ll not only be driving a great car you’ll be saving money in the long run.
For more information on our new car inventory, contact our dealership.