Every year an estimated 3.3 used cars are sold for every new vehicle in the United states; in 2012, car dealers sold about 40.5 million used cars to U.S. drivers. Obviously, many people don’t choose to buy used cars, they do so out of financial necessity. Even so, many people do choose a used car over new. So why buy a used car, even if you can afford not to?
Here are the top answers to the question, “Why buy a used car?”
5. Best Cars For Teenagers
Although everyone probably knew a registered Cool Teen growing up whose father bought them that shiny new car, most parents would cringe at the thought of handing over the keys to a new car to an untested, likely text-happy teen. If you’re helping a teenager buy their first car, then there’s no reason to trust them with a new model.
4. Better Selection
By definition, if you’re buying a new car, then you can only buy vehicle models released in the last 18 months or so. A used car lot will actually have a much more extensive inventory. You might actually find a used car that suits your present needs better than the latest model to roll off the assembly line in Detroit.
3. Cheaper Insurance
Yes, used cars are cheaper than new ones by 35 – 40% on average. But most insurance companies will also set lower rates if you’re driving a used car.
2. Used Car Values Not So Different Than New Cars
Unlike purchasing a house, buying a car isn’t necessarily a great investment. The second you drive your shiny, new car off the lot, it’s value goes down. In just a year or two, its resale value will have plunged.
1. Safest used Cars Can Be Safer Than New Models
So what’s the number one answer to the question, “Why buy a used car?” Many people are surprised to learn the answer is safety. The last three years have seen a record number of auto part and vehicle recalls. Sometimes a safety issue on a new model won’t become apparent for years to come. Sure, if you buy a used car from your sketchy neighbor across the street, you could end up with a lemon.
But certified pre owned vehicles are carefully inspected for issues before they get put on the lot. If you’re wondering what to look for when purchasing a used car, put safety first.
And, of course, used cars won’t break the bank the way a new luxury automobile will.
