Where to go when looking for used cars?
A great way to save money and stretch a budget is to buy previously owned cars rather than new ones. Everyone knows that new vehicles plummet in value as soon as they leave the dealership. This is not the case for previously owned vehicles.
Be sure to find the best auto insurance for your used vehicle by entering your ZIP code into the FREE comparison tool above!A great way to save money and stretch a budget is to buy previously owned cars rather than new ones. Everyone knows that new vehicles plummet in value as soon as they leave the dealership. This is not the case for previously owned vehicles.
There are several locations that quality pre-owned cars can be found. These include:
- On-Line Sites
- Classified Ads
Automobile dealerships are a popular place for people to start looking for a car. However, lots of people overlook their best bargains that are found on the pre-owned lot. Dealerships are constantly taking trade-ins for new vehicles. Some of these cars are sold to auction or wholesale companies, but most are resold on-site.
- They will take a trade-in on the pre-owned vehicle. This can help reduce the amount that is financed.
- They have the most flexibility in price. Due to the volume of cars they have available and the need to move the vehicles off the lot, they can negotiate substantial savings off of the sticker price.
- Most dealerships have available financing for pre-owned cars that is similar to the new car financing. Some will run specials that will include low interest rates or negotiable terms for the note.
- Some offer a warranty on previously owned models. This is especially true for vehicles of the same make as the dealership. For example, a Chevrolet dealer will often inspect and warrant a used Chevrolet vehicle.
- Price – Some shoppers find that dealerships charge more for pre-owned cars. This may be the case because dealerships typically have the highest amount of overhead than any of the other type of sellers.
- High pressure sales – This can be the case for any car dealer, but sometimes buyers feel pressured into buying a vehicle from dealership sales staff.
Websites have grown in popularity over the last decade as a method of purchasing vehicles. The development of technology in this area makes it possible for a consumer to quickly view vehicles that are available for sale in their area or far away from them.
- Variety – Just shopping local dealerships or used car lots can limit the number of vehicles available to the buyer. An on-line search can be extended to include all dealerships within several hundred miles of the user. The consumer can then survey several thousand vehicles. They can look through all of them until they find their perfect pre-owned car.
- Convenience – Car dealers are closed by the time some people get off of work. Some dealerships only stay open for a few hours on the weekend. On-line sites are available around the clock. Someone shopping for a pre-owned vehicle can use the website as much as they desire until they feel comfortable with the vehicles they have selected.
- Location – the convenience of being able to shop all dealerships for hundreds of miles is also a disadvantage. The user may be able to find three vehicles that would be perfect for them, but they might all be separated by 300 miles. It would take several days for the user to be able to travel and see each one before deciding on which one to purchase.
- Availability – not all webmasters keep their sites up-to-date the way that they should. Sometimes a shopper will discover the pre-owned car that was perfect for them was sold three days ago.
Over the years, a popular way to find used vehicles has been classified advertisements. Classified ads are published in every newspaper. Anyone can run an ad for their car for a small fee.
- Price – with little to no overhead in the sale, the price for the vehicles in classified ads are typically the lowest that can be found. A seller is typically just trying to get a little bit of profit from the car so that they can quickly sale it and apply that money to a newer vehicle.
- Convenience – classified ads typically feature cars in close proximity of the paper. If the buyer is searching classifieds from their local paper, chances are good that the seller lives nearby.
- Reliability – not all vehicles sold through classified ads are running in tip-top shape. Some sellers will try to unload a vehicle with a major issue without telling the buyer. Anyone that is considering the purchase of a vehicle through a classified ad should have the car inspected by a qualified mechanic to check for major defects.
- Financing – very few, if any, persons selling their vehicles through classified ads will be willing to finance the purchase. This means that the buyer must have all of the financing available before the purchase. Banks can balk at financing a used vehicle that has not been inspected by a dealership or qualified mechanic.
Anyone in the market for a new vehicle should seriously consider purchasing a previously owned model. The financial benefits can be considerable, and the numerous locations to find quality used cars offer a handsome reward for anyone that decides to go this route.
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