The marketing of car manufacturers try every angle possible to convince people to buy a brand new, retail-priced car over anything else. This is because the biggest profits are to be made on a car unit comes with that retail sticker price. That's one of the reasons why the price of car drops so much as soon as it is driven off a dealer's lot owned. However, upgrading to a fairly new used car not only saves a huge amount of money for a buyer, it also allows one to step up to the latest technology without paying through the nose for it.
All cars owned grow old over time and become outdated. This is because the car manufacturers continually make changes in new versions to attract buyers. Some years the changes can be very slight and cosmetic. Other years can bring fundamental changes to the car model, separating it from the last production range altogether.
“The used car market is a vibrant option for car buyers who don't want to spend full price on a vehicle but still need a car that's fairly up to date.” According to the owner of 5 Star Auto Plaza – A St. Charles Missouri Dealership who specializes in Guaranteed Auto Loans.“The savings that can be obtained from buying a recent used car can be more than enough to help pay for a child's college, a renovation on the house, or a major furniture purchase.” Dan would know, he's featured on a weekly radio show as the "Expert Contributor" on all things auto and financing.
One concern for consumers is that used car are beat up, have mechanical issues, and aren't worth their price. That myth is being proven wrong by more and more buyer’s everyday purchasing used not even a few years old and using them for substantial durations. In fact, most cars only three years old with a second owner should easily last 5 to 8 years before major work or repairs is needed.
The price difference paid between a new retail car and the same model three years old as a used car can be as much as 30 to 40 percent, according to CNN Money. And a used car is usually in the neighborhood of 30,000 miles on the odometer, plenty of life left for a good car that can last at least another five years if not longer.