Things to Consider When Purchasing a Used Car
The fall often brings about new car shopping. People are beginning to prepare for the winter and the tough driving conditions that it brings. It is best to have a vehicle that is ready for winter, before the first big snowfall occurs. New car buyers are left with the decision of purchasing a brand new car versus a previously used car. Both have different advantages, but most have heard the fact that a new car loses a large percentage of its value the minute it is drove off of the car lot. This fact alone leads more buyers into purchasing a used car. How can you purchase a used car, ensuring that you get a great deal and are not left with a poorly maintained vehicle?
New cars typically depreciate about 20% when they are driven off the lot. Most cars will lose another 10% in value during the first year. That is a 30% loss in value during the initial year of ownership. Many used cars will hold their value much longer, providing you with more return when you choose to sell it. It is important to look at the value of a used car and the asking price. You will want to compare the affordable used cars to resale value and decide if the different amount is acceptable to you.
Purchasing affordable used cars tend to take a little more research and planning before purchasing. You will want to narrow down your vehicle options to a specific make that you desire. You can set up searches with local previously used car dealerships or online. They will notify you when something that meets your criteria comes in. You will also want to have a set price and a minimum mileage that you are comfortable with purchasing.
Affordable used cars tend to have more miles on them. However, more miles does not always mean that the vehicle is in bad shape. If you choose to purchase affordable used cars with more miles, you will want to make sure everything looks good mechanically. Most vehicles with higher miles do not come with a warranty, so brining a trusted mechanic with you to inspect the vehicle can be helpful.
Purchasing a vehicle with higher miles can also provide many financial benefits to you. Motorists might not realize the long term financial benefits of keeping a car for 200,000 miles. Research shows that reaching that milestone (which would take the average motorist about 15 years) could result in savings of $30,000 or more. The average age of all cars on the road is more than 11 years, meaning that more and more people are forgoing the idea of a new car and choosing affordable used trucks and cars instead.
Some used car dealerships may be open to negotiations, while others may be firm in their pricing. Car owners will find that they often get better deals on previously used cars because of the minor amount of work they may need or because of the slightly higher count of miles. Car buyers who are able to find a used car that only needs minor cosmetic repair may be able to get a better deal on their used vehicle. Reliable used cars and reliable used trucks can provide many great deals.
The fall often brings about new car sales. People are preparing for the winter and more difficult of driving conditions. Most people choose to purchase reliable used cars because they tend to be of a better value. Although used cars can provide many benefits to a car owner, it is important to do research and carefully inspect any vehicle that you are considering purchasing.