Used cars degrade more slowly than new ones. In fact, a new car might lose up to 20% of its value in the first year, whereas the depreciation rate of a used car is far lower.
Many dealers get their used car inventory through dealer-only auctions, where you might discover well-maintained vehicles for far less than market value.
Certified Pre-Owned (CPO) vehicles are subjected to rigorous inspections and come with extended warranties, providing peace of mind without the high cost of a new vehicle.
Most jurisdictions have Lemon Laws in place to protect customers from purchasing faulty vehicles. Understanding these laws can help you avoid buying a lemon.
Beyond traditional dealerships, online classifieds may be a goldmine of great used car buys directly from owners.
Before making a purchase, investigate the vehicle's history with a Vehicle History Report to identify accidents, odometer rollbacks, and any red flags.
Low mileage does not always imply a better vehicle. Vehicles that stay inactive for long periods of time may develop maintenance concerns. Instead, get a well-maintained, higher-mileage vehicle.
Smaller, independent businesses may provide more customized service and rare finds than larger dealerships.
Certain seasons, such as winter, may be great for purchasing used cars because there is less demand and dealers may be more ready to bargain.
Purchasing a one-year-old secondhand automobile can save you a large amount of money while still providing numerous modern amenities.