With inflation and the cost of everything skyrocketing lately, Americans need to cut cut costs wherever they can. Consumers are looking for more and more ways to make their dollar go further. The first and most obvious aspect to cutting cost is when it comes to vehicles and transportation.
One of the most seamless ways consumers can save is to consider used cars over new cars. The value of used cars far exceeds that of new cars. The reason your brand new car loses so much of its value the moment it roles of that car lot is because the new car dealership needs to make its commission. Once you purchase the car, this cost has vanished and the car is only worth its value.
Not only are used cars more affordable, one from a used car dealership has a much more fluid price. This is more negotiable because the manufacturer already retrieved its loan to the dealership. Given good used cars are in as good of condition as new cars and a fraction of the price, the value of used cars is greater that of new cars.
It may surprise you to learn the average age of a car in the United States is 11 years old, so purchasing a used car that is 3 or 4 years old is pretty new by comparison. Moreover, there is an estimated average of 3.3 million used cars for sale at any given time in the US, so you have quite the pool to pick from.
The value of used cars is obvious to the educated consumer. Not only does buying a used car allow you to avoid the high depreciation rates seen in new vehicles within the first 12 to 18 months of ownership, but used cars prices also pushes up overall used cars value.
With every type of automobile available to the used car market, consumers are limiting themselves and their buying power. Used cars for sale are quite often in as good a shape as new ones, especially gently driven cars from lease turn ins. But what’s inarguably an advantage to considering used cars over new are used cars prices. Learn more about this topic here.
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