Keeping Your Car Clean

Why Used Cars Are The New Black

13 July 2015

Patrick Fuller

At one time not too long ago, a brand new car fresh off the lot was the epitome of cool. Lately, the trend has shifted, and more people are putting their money behind used cars than ever before. Here are some reasons why buying a used car from a dealership, such as Grey Chevrolet Inc, is not only trendy, but a smart idea, too.

Almost like new

There has been a sharp rise in the number of Certified Pre-owned (CPO) vehicles hitting the market, which is great news for buyers. With a CPO vehicle, there's a higher level of reassurance that the car is going to be reliable. Just as new-car buyers tout the guarantee given by the dealership as being a major selling point, CPO vehicle buyers usually benefit from some sort of guarantee that the car won't be a lemon when it's driven off the lot.

Many used cars are actually not that old, especially as the popularity of leasing is on the rise. These leased cars spend a short time being driven as a lease, then find themselves back on the market at a reasonable price. These "lightly used" cars offer buyers all the perks of a new car at a fraction of the price. Buyers can get a reliable car without suffering the crushing blow of depreciation of the car's value the minute they pull off the lot.

More car for the money

Not only can used car buyers get a decent car at a lower price than buying new, the "newer" used cars are lasting longer than ever before. According to Consumer Reports, the average car lasts around 11 years. With a little care and maintenance, you can keep your car performing and looking great for many years, which means you won't have to replace it as often. Not only can you save money by buying a used car, but you can also save money by not replacing it for many years. Saving money is one trend that never goes out of style, and used car buyers are able to take advantage of this.

More choices and better prices

When new cars hit the market, there are always a few people who are hesitant to buy into new technologies. For example, although hybrids and electric cars have gained in popularity, their initial higher prices and unknown performance record caused some people to avoid them. Now, these cars are turning up as used vehicles, and offering buyers an ecologically-friendly option at budget-friendly prices.

The trend in green cars was once reserved only for those who could afford it, but as the number of used eco-vehicles rises, more people can experience the benefits the cars offer, which can have a knock-on effect for the cars' production. It's a win for used car buyers, and a win for car manufacturers as the popularity of the vehicles grows.

Saving money is always in style

Even if keeping up with the latest car trends doesn't motivate you to try a used car, saving money over the long term should. Used cars not only cost less to buy and avoid rapid depreciation, they cost less to insure and have lower tax rates. Even if you allow for maintenance, which could be minimal if you buy a CPO used vehicle, the savings can be substantial over paying full price for a new car, especially if you finance it.

Used car loans may have higher interest rates, but you can usually negotiate a lower selling price and reduce the overall interest you'll pay during the lifetime of the loan. Although the economy is improving, and loan rates can always go lower, buying a used car is almost always less expensive in the long run if the car is in good shape when it's purchased. 

More people are considering used cars even though they may be able to afford new ones. This is probably due in part to the economy's shaky nature in the past decade, but it also comes down to the fact that saving money on a reliable used car just makes good sense, and that never goes out of style.

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