5 reasons to invest in a quality pre-owned car It’s widely accepted that a car loses a sizable proportion of its value at the moment you drive it away from the dealer’s showroom or forecourt, with some estimates of the subsequent rapid decline in value of between 30 to 40% over the first year or two. Buying used, the value will have already dropped, giving you a far lower initial purchase price, and the expectation that the drop in value after you buy will be at a far lower rate than when the car was new. Essentially, the depreciation rate is slower when buying used. There’s no two ways about it – cars do go wrong sometimes, and when buying used, you benefit from seeing previous buyers’ experiences of the car, in a way that you can’t when buying a new model fresh out of the showroom. You can research online forums, motoring magazines, and other commentary that gives an overview of the reliability of your chosen vehicle. You can also research instances where the manufacturer has recalled any of the cars, and factor this into your decision. You can get more for your money. If you have a fixed amount to spend, that money could buy you a high-specification, luxury used car, whereas the same amount might only stretch to a small, basic new car. The ‘options list’ tends to be absorbed into the value of a used car, too – the optional extras that cost the original owner an extra $2000/£1,500 when new aren’t likely to factor at all in determining the used value. Buying used gives you a wider selection to choose from. The manufacturers bring in new models and ranges, but discontinue the old ones as they do. If you hanker after the older model because it has a particular feature or style, you may not find it as a brand-new purchase anymore. As an example, the prospective buyer can drive home an elegant Citroen C4 from the maker’s current or recent ranges, but many enthusiasts are fans of the innovative CX, a model which offered a number of unique features for its time, and which was discontinued in 1991. In certain circumstances, you can be buying your used car from a private seller, rather than a used car dealership, and this can lend a different dynamic to the buying/selling process; whereas the dealer may be looking to sweeten the deal, and possibly encourage a drive home an elegant Citroen C4 with a brace of extras such as floor mats, etc, the private seller will merely be looking to sell you the car as is. ——————————————————————

Sarah Lee Marks is MyCarlady. She has over 23+ years of experience. She writes about cars, and is a staunch consumer advocate on car related subjects. MyCarlady offers free car buying advice, and private, auto-related services to help you maintain your personal or commercial vehicles. Call Sarah Lee for more information: 702-521-7546. Join the MyCarlady newsletter to be kept up-to-date on this and other important car information. ———————————————————————————————————————————————————————————– // ]]>