New cars can depreciate as much as 11% the moment you drive them off the lot. There are a plethora of affordable used cars on the market right now. Most car dealerships these days have a separate department at their dealership that is designated to sell only used cars.
As appealing as purchasing a new car can be, it may not be the best option when it comes to getting the best value. New cars can depreciate as much as 11% the moment you drive them off the lot. That means that a brand-new car worth $20,000 can depreciate up to $2,200 simply by driving it home.
Luckily, you have options. There are a plethora of affordable used cars on the market right now. Most car dealerships these days have a separate department at their dealership that is designated to sell only used cars. It is there where you can find the best deals on used vehicles that are still in good condition. The reason why going through a local dealership is a better idea is that only a dealership can offer certified pre-owned vehicles that have gone through a rigorous reconditioning processes. Local car dealers are also the only place you will find new warranties available for pre-owned vehicles.
Whether you decide to purchase a certified pre-owned car or a used car, your local dealership will offer you a better deal. Take into account not only the price tag of the vehicle, but also the added value built into your vehicle’s purchase. This can range from service contracts to upfront service at the time of the sale. Your dealership can also search the area for you to find the most affordable used cars in a given price range.
One last thing to keep in mind is that used cars will almost always be in better condition at car dealerships than when you buy them from private sellers. Like with certified pre-owned cars, used cars also go through a reconditioning process. The only reason they are not labeled as such is likely because there are too many miles on the vehicle. The fact that any vehicle you purchase will be in better condition when you buy from a local used car dealer can save you hundreds of dollars in repairs down the road.
Keep this information in mind the next time you are in the market for a pre-owned vehicle. Not only will you save in regards to overall value, but also in regards to service and repairs in the long run. The market is very saturated with affordable used cars, and this is to your advantage because it gives you a vast selection of vehicles to choose from. Seek out a reputable dealership, do some research, and save some serious cash.