The used car market offers significant values to every family interested in buying a first or second low-cost vehicle. In fact, late-model vehicles that are usually only 2 to 3 years old can offer the same luxury, reliability, warranty, and benefits as a new car, truck, minivan or SUV. With a little tenacity, research, and focus, every family can save a substantial amount of money and have the vehicle of their dreams. |
Buying used cars is all about finding the best balance of risk versus value. The older the vehicle is, the greater potential it has of needing extensive repairs, especially after the warranty has expired. However, late models are built for durability, and can last well over 100,000 miles, and even 200,000 miles, without need of any major repair. In fact, used cars offer significant value that includes:
Cars manufactured today will drive tens of thousands of miles before needing any tune up or even minimal repair. In addition, they are designed for the long haul, and are attached to an onboard computer to quickly diagnose any major or minor issue. Usually, any problem that will occur in the vehicle will happen early on while it still under warranty by the automotive manufacturer.
Warranties on late-model vehicles are extensive, and cover nearly any problem from one end of the car to the other. Usually, owners of late-model vehicles are only required to replace the tires, battery, and brake pads. The factory warranty is transferred to the new owner, and extends out for the life of its term, usually lasting 36,000 miles/3 years up to 100,000 miles/10 years. Before purchasing any vehicle, it is important to check over the warranty to see how long it lasts.
Saving on Depreciation
Studies indicate that the value of a vehicle can depreciate by as much as 47 percent in the first 36 months of its original sale. This substantial depreciation happens almost instantly, once the new vehicle is driven off the lot. Alternatively, individuals that purchase used cars can save substantially by avoiding major depreciation. In fact, older vehicles tend to depreciate at approximately 10 percent every year, while still providing a smooth ride for their owner.
Low Interest Rates
Many individuals interested in buying a vehicle tend to shy away from used cars because they think the interest rate is too high. However, the opposite is true. This is because far more used cars are sold every day when compared to new vehicles. Lenders are eager to offer a variety of loan options for purchasing used cars. Their low interest rates are only slightly higher than those offered on new cars. Even with the slightly increased interest rate, monthly payments tend to be lower than on new vehicles.
Many of the same safety features on new vehicles are available on used cars, trucks, SUVs and minivans. This includes airbags, electronic stability control, track control, anti-lock brakes xenon lights, and other effective safety equipment. Purchasing used cars makes good financial and safety sense for anyone interested in saving money while enjoying a beautiful ride, check out http://www.hertzcarsales.com.
Buying used cars is all about finding the best balance of risk versus value. Late models are built for durability, and can last well over 100,000 miles, and even 200,000 miles, without need of any major repair.
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