Not all one-owner vehicles are the same. For instance, a family van with nearly 160,000 miles is not the same as a four door sedan with only 70,000 miles. In fact, shopping for one-owner vehicles can be far more difficult than purchasing a new car. Finding a vehicle that has detailed maintenance records, for instance, can help the second owner know understand the history of a car, as well as possibly predict the future maintenance needs that may occur.
Used car dealers are the main source for many people who are looking for a car, truck, or SUV. Understanding the priorities that you are looking for can help you make sense of the process. Are you certain that you have to purchase an automatic, or would you be happy with a manual shift? Are leather seats a must, or could you be satisfied with cloth seats with new covers? The list can go on and on, but taking the time to rate your priorities will help you stick to a plan and not be swayed by something that is far down on the list of the priorities.
Used cars for sale are often a significant part of many family’s car purchases. Some families, in fact, only visit pre-owned dealerships and never spend a minute looking at new vehicles. These families understand that a new vehicle begins losing its value as soon as it drives off the lot, while a used car is often a much smarter purchase. Consider some of these facts and figures about the new and used car sales industry:
- 38.3 million used-vehicle sales across the industry in the year 2015, this was the best annual tally in eight years, according to 2015 Used Vehicle Market Report.
- 40 million used cars exchange hands every year between dealership sales and private-party sales.
- Any time you purchase a vehicle that is less than five years old, buyers should consider finding one that is certified pre-owned (CPO).
- Some families look for their one-owner vehicles from family and friends. They let their neighbors and grandparents know, for instance, that they are in the progress of finding a different or extra vehicle.
- Although used vehicles cost less, the financing does not have as many options. For instance, most banks will not offer a loan for a car that is older than four or five years. As a result, these cars need to be purchased with cash or the buyer needs to find an alternative kind of financing option.
- One of the reasons that one-owner vehicles are so sought after is that the average vehicle typically has three owners in its lifetime.
We are a society that depends upon transportation. And while some individuals live in large metropolitan areas that have many public transportation options, many others rely on their own vehicles to get to and from work and other locations. For the people who need a car finding the right one can be both difficult and challenging.
Although some people always purchase or lease brand new vehicles, a significant number of people rely on the used vehicle market to meet their needs. And while there are some buyers who never need to think twice about price, an increasing number of buyers look toward used vehicles to get the most for the money. For instance, while a new car can cost anywhere between $30,000 and $70,000, research shows that the most frequently searched price range for a used vehicle is less than $5,000.
What are you looking for in your next vehicle? If you do not want to deal with the immediate depreciation of a brand new car, a one-owner vehicle may be the perfect solution for you. Working with a used car dealer, as well as letting your friends and family know that you are looking, are some of the options for finding a used vehicle that will meet your current needs. As more and more cars are built to drive from 100,000 miles it should come as no surprise that the used car market is a vibrant part of the U.S. economy. The number of people with a driver?s license in America increased from 167 millions to about 214 millions in 2014, so the used car market will continue to thrive.