(Enlarge photo)
Buying a used car, rather than a new car, can save you and your family thousands of dollars over the years. (Photo by Scott Jacobs)
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Buying Tips
How to Buy a Used Car
Introduction
By Philip Reed, Senior Consumer Advice Editor
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If you've decided to buy a used car, you've already made a smart decision. You
can get a car that's as good as a brand-new car, without suffering the depreciation
that wallops new car buyers. Used cars — even only one year old — are
20 to 30 percent cheaper than new cars.
But there are other good reasons to buy a used car:
- Buying a used car means you can move up in class
- You'll save money on insurance
- The glut of cars coming off lease makes creampuffs easy pickings
- Unlike with new cars, which are priced to the penny, bigger bargains are
possible for the smart used-car shopper
Furthermore, the classic reasons to avoid used cars — lack of reliability
and the expense of repairs — are less of an issue. Consider these related
thoughts:
- Used cars are more reliable today than ever before
- Many used cars are still under the factory warranty
- Most new car manufacturers now sell certified used cars, which include warranties
- The history of a used car can easily be traced using the VIN number
- Financing used cars has never been easier — leasing is even available
through some banks
- The money saved by buying a used car can be invested or saved to use on
items which appreciate — like real estate — instead of cars,
which depreciate
- If you buy from a private party, the negotiation process is less stressful
True, you can't be the first one on the block with the trendiest vehicle. And
there is the lack of new car smell. But your consolation will be the knowledge
that you got a great deal and made a solid decision. So read on, as we guide you
along the road to used-car happiness.
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