Gone are the days of used cars being taboo in the car-buying process. More and more Americans are choosing to buy used over brand-new vehicles-and for good reason. The benefits of buying used are becoming more obvious, as the stereotype of used cars being lemons becomes a thing of the past. If you are beginning the car-buying process and aren't sure if a used vehicle will be the right choice for you, it's important you know why these types of vehicles are a great option. Here are some reasons why you should buy used.
The most noticeable difference in buying used is the pricing. Because the vehicle has some slight wear and tear-and more than zero miles-it is automatically cheaper than a brand-new car would be. Typically, used cars have a smaller sales tax, lower insurance costs, and less rates for registrations, depending on your state. These features alone will help add up and reduce the amount you spend on your vehicle.
The value of a new car drops significantly the moment you drive off the dealership lot. In fact, this value can sometimes drop 54% in three years. When you purchase a used car, it will keep its value for longer, depreciating at a much lower rate.
More is less in the used car-buying industry because you can get all the bells and whistles you want without emptying your bank account. Technology like a rearview camera or a top-notch infotainment system can easily be found in your budget if you buy used. While it might be a few years old, it will still give you exactly what you want without breaking the bank.
Certified pre-owned (CPO) vehicles are used cars that have been heavily inspected-and certified-by their manufacturers. This means that CPO vehicles are almost as good as new and typically have top-notch extended warranties that will keep your used vehicle running smoothly.