A used car is a great option for buyers looking to save money. The reason why pre-owned vehicles are economically advantageous is depreciation. New vehicles carry a hefty premium that all but disappears as soon as it is driven off the lot. A new car depreciates by 11% the minute you drive off the lot. In the first few years of ownership, the value of that new car declines considerably, leaving you with the much less valued vehicle when you initially purchased it.
The infographic below, The Road to Buying a Used Car, reviews the advantages of buying a used vehicle as well as discusses how to research buying one.
This infographic is informative for anyone interested in making such a purchase. You have to be careful, while the reward of purchasing used is saving money on the purchase, the risk of buying used is getting stuck with a car that costs a fortune to repair, or just doesn’t work.
Getting swindled on a car purchase is a cultural cliché, but the fact is, the vast majority of dealerships are reputable and are happy to show you a used vehicle’s maintenance record. This will also include other documentation to support the price and reliability of the vehicle you’re considering. Nevertheless, you’ve got to do your research on the vehicle and ask the right questions in order to be certain of what you’re obtaining. On the infographic below, there are a few questions provided that are good examples of what to ask before purchasing. Make sure to also use online price guides for finding the average value of the car you are purchasing. Also,
If you choose to make a used car purchase from a private seller, especially a stranger, you have to be even more careful. You always have legal options if you purchase a vehicle that’s been misrepresented, but you certainly don’t want to subject yourself to that kind of problem when all you wanted was transportation. For more information and tips on purchasing a used car, check out the infographic below.
Infographic created by JDBNOW, a buy here pay here dealership in Ohio