Buying a used car makes sense for many reasons — the improving reliability of many manufacturers to lower insurance premiums. But finding the best price and location to buy a previously owned vehicle takes research and patience.
Consumers seeking to purchase a car should initially determine if they’ve made the right decision to buy a used vehicle instead of new car or truck. The major factor is to determine the proper balance between risks and value of a new car versus the same qualities of a used car.
One recent trend leading toward the consumers purchasing a used car is an analysis conducted by Consumer Reports, the independent research and testing organization.
In its annual subscriber survey during the past few years, the editors determined 5-year-old vehicles currently have one-third fewer problems than when the publication examined 5-year-old vehicles in 2007.
One important reason for the improvement is a decrease in rust and exhaust-system problems. Additionally, major engine and transmission issues have also decreased. As a result, more manufacturers’ vehicles can surpass 100,000 miles.
If a consumer decides to buy a used vehicle, the next decision is to determine where to purchase car and how to determine if the individual or used car business is reputable. Online businesses like eBay Motors have reliable reputations, used certifications and other criteria for vehicles’ mileage and condition determination..
Transporting a long-distance purchase can be expensive and inconvenience, however, and its gives more credence for buying a used vehicle near the buyer’s residence.
That’s where regional businesses, whether it’s used cars in Spokane, Wa., Atlanta, Ga., or Pittsburgh, Pa., can likely serve customers the best. Buying locally not only allows customers to view the vehicles, it supports the local economy.
Purchasing a used vehicle locally allows allows customers to ask other local buyers about their experiences with the business via consumer-oriented view web sites like Yelp or Angie’s List.
If a potential used car buyer needs further proof of the value of used cars, Consumer Reports also recently released a list of 10 vehicles, five each manufactured by Honda and Toyota, likely to last 200,000 miles.
And, finally, there’s depreciation. On the average, new car models lose about 47 percent of their value during their first three years. The depreciation for the following three years is lowered to 24 percent.