Used Car FAQs
Used Car FAQs
Gone are the days when used cars were considered, as a whole, unreliable. Presently, people are buying used cars because of the numerous benefits and increased prevalence of reliable sellers. In this blog, we will help you get answers to the most commonly asked questions that have come our way regarding used cars.
Why have used cars become so popular?
There are many reasons behind the increasing popularity of used cars. To begin with, used cars provide individuals with the option to buy a car that caters to all of their exact needs, but at a lower cost. Along with lower purchasing costs, the registration fees and insurance costs are also lower.
New cars depreciate to around 30% of their initial value within the first year. After this initial severe depreciation, the car retains its value much more effectively. Therefore, used cars experience lower depreciation compared to new cars. This allows you to make back a more significant percentage of your investment if and when you decide to resell the vehicle.
What is the difference between used cars and certified pre-owned cars?
While all certified pre-owned (CPO) cars are used cars, not all used cars are considered certified pre-owned cars. Dealerships are often affiliated with manufacturers, and they put their used cars through a meticulous testing and maintenance process before offering them for sales.
CPO cars come with an approval stamp from the manufacturer. CPO vehicles are also under warranty and offer roadside assistance. While these cars come with heftier price tags as opposed to normal used cars, they provide higher reliability and security, and will still be cheaper than new models.
Why is it wise to buy used cars from a dealership?
When you purchase a used car from an established dealership, there are more assurances of the quality of the product. Local dealerships rely on their reputation; therefore they always offer exceptional customer services. They provide used cars with warranties and other services to improve the buying experience. Additionally, dealerships offer higher flexibility and allow you to make customizations in your used cars. For an additional cost, you can add certain features or even have some things removed.
Are there any financing options for used cars?
With the growing reliability of the market, there are many lending options to finance your used cars. Dealerships, banks, private lenders, etc. all offer viable financing options for used cars. However, their rates vary from each other and also depend on your credit score. When you are looking at the financing options, make sure to compare the different offerings before making your final decision.
How do I prepare myself to buy a used car?
When it comes to buying used cars, you will be met with endless options, making the decision quite perplexing. Therefore, you have to spend time understanding the market and doing thorough research. When looking for dealers, check out their reviews to see how credible their products and services are. Compare the offers from different dealerships for your desired vehicle. Also, consider your financing options before making the final decision.
Used cars allow people who are on a budget to buy a car that perfectly caters to their needs. Taking the time to evaluate all of your options is an important step in making the best used car decision for you and your family.