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What You Need to Know About Buying a Used Car

2020-01-07
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Globally, over 79 million cars were sold in 2017. It's no secret that Americans, in particular, love their cars. Each year in the U.S., there are approximately 6 million car sales, with pickup trucks making up 16.4% of these sales. Out of every 100 cars sold in this country, one of these has a diesel engine.

In the U.S., used vehicles account for three out of every four car sales. Almost 40 million used cars are sold annually in transactions between individuals and through dealerships. Used car sales can be especially enticing to Americans who want an excellent vehicle on a stricter budget. But there are many reasons to consider making a few visits to used car dealerships in your area.

Why Buying a Used Car Might Be the Right Move for You

Many consumers are finding it difficult to afford pricey new vehicles, as the cost of those vehicles keeps climbing. You can save significantly by purchasing a used car instead of a new car. Experian Automotive reports that you may save an average of $14,000 on a used vehicle. If you purchase a car that's three years old or older, you'll see less depreciation. You will also pay less for insurance coverage, since car insurance companies take the vehicle's value into account to determine rates.

You can enjoy peace of mind with a quality used car or truck. Current vehicles stay reliable over longer periods of time, which accounts for the fact that the average vehicle in operation is about 11 years old. Reconditioned cars and trucks that come with warranties can be bought through certified preowned programs; approximately 2.7 million such vehicles were purchased in 2018. Services such as Carfax and AutoCheck use the vehicle identification number (VIN) to bring up a car's history of repairs and accidents.

Find Affordable Vehicles Through Used Car Dealerships

Many used car dealerships provide in house financing, including loans with lower rates, to help you afford a preowned vehicle. Whether you have excellent credit, poor credit, or fall somewhere in between, used car dealerships will work with you to determine what you can afford.

A preowned car or truck may end up being your best option. A used vehicle is far less expensive than a new vehicle and can be insured for less money per month. It may last for more than a decade of use. You can obtain the car's history to make sure it's a solid, reliable vehicle. Contact a local used car dealership to find out about certified preowned programs and in-house financing.

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