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Smart consumers opt
for used cars for many reasons, the biggest being price.
Simply put, the price of
a used car can be up to fifty percent less than the latest model, even if the model year
is fairly recent.
Depreciation is the factor behind these savings, the new vehicle drops in value the moment
it is driven off the dealer's lot. In fact, during the first year alone a car will
depreciate at least twenty percent, and will continue to drop in decreasing increments
every year thereafter.
The prospective used car buyer can take advantage of a vehicle that is only a few years
old, but is mechanically and physically sound, still looks great, and has a great price.
With the incredible savings, you can get practically the same vehicle as the latest model
and save a lot of money, or a higher end model that you would normally not buy which can
be purchased for much less.
The latter case you can often buy a vehicle with more performance, safety, and luxury
features that you might need but would be out of reason if purchased new.
Of course, the most common concern when buying a used vehicle is previous ownership and
any potential or unknown problems. In response to higher consumer standards, dealers are
now offering
Certified
Used Vehicles.
These cars have been certified thorough mechanical and physical inspections and have been
upgraded to a checklist of standards as close to those of a new car as possible. Often,
these vehicles come with a manufacturer's warranty, inspiring further confidence for
buyers. (It is still a must to visit "CarFax Lemon Check" to verify the used car
history.
In addition to Certified Used Vehicles, another option available to you is the Off-Lease
Vehicle. These used cars are usually between two and four years old and were driven by the
dealer's customers who originally leased them. Under a lease, owners are required to keep
mileage to a minimum and must service the vehicle on a scheduled basis. Often, the owner
will service at the dealership from which the car was purchased, making access to
maintenance files quick and easy. Part of the original lease remains in effect, and
further extended warranties
may be added.
Buying a used car through a dealer has become less of a challenge, although consumers
should still educate themselves and arrive at the dealership armed with information. The
used car you have in mind should be researched online for consumer reports, manufacturer
recalls, and blue book price.
Online services such as Stoneage.com, will provide quick and easy quotes on vehicles so
that you do not overpay for a used vehicle. Other web sites such as CarFax will provide
the vehicle history by running the Vehicle Identification Number (VIN) through a thorough
check.
An important point to keep in mind is that most dealers have calculated at least $2000
profit into each used car. This means that there is $2000 to negotiate with between
wholesale and retail price, and you should start with an offer of five percent below
wholesale price and proceed with the negotiation in full control of the price.
Using these the internet and comparing the information gathered at local dealers and used
vehicle publications will give you a solid basis for making a reasonable and educated
offer on a used vehicle. These guidelines also apply to private sales, although you should
be aware that most of these vehicles are sold "as is" and the sale is final.
With the progress being made at the dealership level with used vehicles, buying a
"nearly new" car has become a practical option. Combined with the numerous
reputable online services providing insider information, much of the uncertainty
traditionally associated with used cars has been eliminated. With patience and thorough
research, you can avoid paying too much and will leave a dealer or private sale with an
excellent used car.
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