What is the biggest advantage to buying a used car? Money. Everyone knows that but some people still feel like buying used is somehow a step down. Let’s face it, the economy is not doing too well at the moment and everyone is hurting for money. Paying too much for a vehicle just to get the used car smell is a little silly when you can be using that money for other things like bills or groceries.
Buying a new car is a great feeling and it will make anyone feel good but it only lasts for a few weeks at most, then it is just another car. The biggest problem with buying new is that when you drive that new car off the lot you start losing money almost immediately. As an example, a new Honda Accord will cost you around 21,000 dollars brand new. But you can pick up a 2 year old Honda Accord with low mileage for around 17,000 dollars. That is a savings of 4,000 for a difference of just 2 years.
You can also look at it this way. Say you went to the car lot to buy a new car and you had 20,000 dollars in your pocket. You could easily afford a new Toyota Corolla but if you don’t mind buying a used vehicle, you could get a tricked out Avalon for the same price and it would only be a couple of years older.
Some people will argue that buying a used car is just buying someone else’s problems but that brings us to the biggest advantage of buying used. Many car lots now offer a certified pre-owned car program. Each used car sold under this program undergoes a rigorous testing program and any problems that are discovered are then repaired by certified experts. It allows you to buy a used car and save money without having to worry about some hidden problem cropping up later. A CPO vehicle will generally cost a little more than a regular used car but many people find that it is well worth the price given the added peace of mind. A CPO will be given a warranty from the manufacturer and it will still come at a cost that is way below a new model of the same vehicle.