In this time of economic trouble, people are trying to cut costs everywhere they can. Many people are now considering buying a used car that wouldn’t have considered it before.
There are good reasons, beyond just the price tag, to consider buying a used car. However, the biggest benefit is always price. The average price of a used car in 2008 was just over $8,000, while the average price of a new car was $25,000. You are going to pay less, out of pocket, when you’re buying a used car.
A fairly recent development in the world of used cars gives buyers another reason to consider buying used. Certification programs offered by manufacturers now offer buyers some of the same type of security and confidence that goes with buying a new car. Certified Used cars go through a rigorous inspection process and are often covered by a warranty that takes the vehicle beyond the original warranty provided by the manufacturer.
There’s another good reason to buy a used car instead of a new car, and it has to do with depreciation. A new car will usually lose around a third of its value over the first two years that you own it. By buying used, you avoid that depreciation penalty.
While buying a used car isn’t for everyone, there are significant advantages.