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Last year was a record-breaking one for the U.S. Just like the country’s population is aging, so too are its vehicles. In 2015, the average age of cars on America’s roads set a record. The typical car cruising down the highway is 11.5 years old. Here are a few reasons more and more people are choosing to look for pre-owned cars for sale in Anchorage, Alaska. Reliability People are buying and driving used cars because they are reliable. Thanks to modern engineering and standards, cars are simply lasting longer. Despite people driving and owning older vehicles, this hasn’t translated into fewer new car sales. It simply means people are choosing to keep their old cars when they buy new or their older models are being transferred to the used car market. Experts anticipate the number of vehicles older than 12 years will increase by 15 percent in the next 5 years. Value Americans are buying a lot of new cars; they bought more than 17 million brand new cars in 2015. Most brand new cars are actually less expensive than they used to be when inflation is accounted for. Still, the average purchase price of a new vehicle last year topped $33,000, making a new set of wheels out-of-reach for many potential buyers. So, while thousands of people are buying new cars, thousands more are buying used vehicles. Buying used is a smart buy because new cars depreciate so quickly (about 20 percent) once they’re driven off the lot. When buyers choose a used car, someone else takes that initial depreciation hit—even if the car is only a year old. Cars depreciate, but savvy used car buyers limit the depreciation. Quality Because cars are lasting longer, used car buyers can expect the same high quality in a used car as they do in a new one. Many used car dealers are offering exceptional warranties for pre-owned vehicles, and dealers themselves are offering certified, pre-owed cars, or CPOs. These are vehicles that a seller has carefully inspected and ensured meets a high quality standard. In the first quarter of 2015, car buyers purchased 614,400 certified, pre-owned cars, or about 67 percent more CPOs in the first quarter of 2015 than they did in the first quarter of 2010. Car buyers have gotten smarter and so have their cars. Thanks to modern engineering and technology, cars are lasting longer than they ever have before. It’s an ideal time to look for pre-owned cars for sale in Anchorage, Alaska.
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