From clear financial incentives to increased reliability and better buying tools, there has never been a better time to consider buying a used car or truck. Unsold? Here are three reasons to buy used for your next vehicle.
Save money
It’s no secret that buying a used vehicle instead of a new one will save you money, but how much money can you save? Kelly Blue Book statistics show that in 2015 Americans spent an average of $ 33,500 on new vehicles versus just over $ 20,000 on used. That’s an approximate savings of $ 13,500.
With buying new, there is also the depreciation factor. As soon as you take a new car off the lot, its price drops by several thousand dollars. According to statistics from Consumer Reports, a new car bought in today’s market will depreciate to just 54 percent of its original price after just three years on the road. With used vehicles, such depreciation is a rarity, making trade-ins and dealer sales more economically viable.
Get a reliable (and better) vehicle
Following the route used can free up resources and allow you to buy a better, more reliable vehicle. The reason is simple: When you save on buying your used car, you can invest that extra money in a better make or model. If you do your homework, the cost should be nearly uniform, and in the long run, the investment will likely fall in your favor. By choosing a better-made model, your used vehicle will likely outlive the newer, less reliable alternative. Plus, with today’s car life at an all-time high, even vehicles with several years on the road can be a good investment. According to a 2015 survey by IHS Automotive, the average age of cars on US roads has reached 11.5 years, and estimates project a continued increase in useful life. For used car buyers, this is good news. The used vehicle is no longer a temporary solution, but a reliable alternative to buying new.
Vehicle History Reports and CPO Programs – The Future of Used Car Buying
Today’s Certified Pre-Owned Vehicle (CPO) programs further guarantee that when you buy used, you get a reliable car in excellent condition. With a growing number of new car drivers now choosing to lease their cars rather than buy them, dealerships nationwide have substantial inventory of CPO exchanges to buy. New car leases generally involve 3-year contracts with restrictions based on condition and mileage, meaning that when you trade in your vehicles, they are still in excellent condition.
Whether you’re buying a CPO model or a car from a regular used car dealer, the prevalence of vehicle history reports through online services makes it easier than ever to find a reliable used vehicle. Enter the vehicle identification number (VIN) of the car and gather valuable information about its history and registration. A dealer will be happy to help you with this process. With today’s tools, you can find a high-quality used vehicle faster than ever.