There was a time when buying used cars when considered a gamble, similar to playing a game of Russian roulette. While there a few lemons in the used car marketplace, the overwhelming majority of used cars are quality vehicles. This is for a variety of reasons, especially the fact that newer vehicle models are safer and more reliable than ever.
For example, when properly maintained, today’s vehicles can easily surpass 100,000 miles without any major overhaul such as an engine or transmission repair. In fact, many models can easily reach 200,000 with no issues. In an analysis of Consumer Reports’ annual subscriber surveys over the past few years, it was determined that five-year-old vehicles has one-third fewer problems than five-year-old vehicles from 2007.
So, why buy a used car? While reliability and quality are just two of the main reasons why people choose to buy pre owned vehicles, used car values and costs also factor into the equation. According to Cars.com, the price gap between new and used vehicles was close to $20,000 as of earlier this year. In addition, used car values can be a whopping 35-40% cheaper than purchasing a new vehicles in the United States.
Just because life gives you lemons, doesn’t mean you have to make lemonade. It’s important to know what to look for when purchasing a used car. Many consumers feel most comfortable purchasing a certified pre-owned vehicle directly from the manufacturer.
While certified pre-owned programs vary from manufacturer to manufacturer, essentially, certified pre-owned cars are used vehicles that meet the manufacturer’s established standards and requirements for re-sale. Therefore, they carry some form of guarantee and protection against defects similar to a new-car warranty.
If you’re purchasing a used vehicle directly from its owner, you can always ask an auto tech to look over the vehicle in order to identify any current or potential issues before purchasing it.
