June 22, 2024

Why More People Are Buying Used Cars

Buying used cars

There are as many as 3.3 million used vehicles for sale at any time in the United States. However, in spite of this high number of unsold cars, it is becoming more and more common for people to buy used cars: statistics show that from 2011 to 2013, there was a 4.4% increase in used car sales in the United States. Meanwhile, from 2009 to 2014, the used car industry grew an estimated 3.5% every year. This is likely because buying used cars offers drivers a number of benefits, including excellent values, wide selections, and affordable prices. With these advantages, buying a new car often isn’t worth the price. Instead, more and more people prefer to buy used cars.

Currently, there are around 126,097 used car dealerships in the U.S. Unlike new car dealers, these businesses are not required to sell the most recent models, and therefore have access to a wider selection of vehicles. This makes good used cars relatively easy to find: research shows that almost 50% of used vehicles available for sale in the U.S. are equipped with air conditioning, and automatic transmissions outnumber manual transmissions 10 to one. Because of these attractive features, the value of used cars is often higher than might be expected.

This is especially true when you compare used cars to new vehicles: because of how quickly automobile brands release new models, new cars tend to depreciate almost as soon as they are driven off the lot. As a result, the value of used cars that are only two to four years old is very low compared to new vehicles, but has a variety of modern amenities that make it high quality in the used car market. However, like most used cars, even vehicles that are considered high quality are still extremely affordable in comparison with new cars.

Approximately 40.5 million used vehicles were sold in the U.S. in 2012, and 41 million were sold in the country in 2013. So many people choose to buy used cars because of the many benefits used cars offer their drivers, including affordability and high value. If you need a new vehicle, don’t waste time and money looking for a new model: instead, visit a used car dealership. Read more articles like this.

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