The previously used cars industry is often a “buyer beware” market, but it doesn’t have to be. Fear of purchasing “lemons” or being duped into overpaying by over-eager salesmen have some drivers running for the comparative safety of the new car lot. While new cars are nice, their rapid depreciation – – just driving that sweet new ride off the lot will cost you 20% of its value with another 10% depreciation hitting after the first year of ownership – – and high purchase price make them a far less economical investment than previously used cars.
A used car dealership will often have pre-owned cars and trucks for half the price of the average new car. In fact, for 50% of the sticker price on a new vehicle, you could purchase a 3- or 4-year old pre-owned vehicle that’s larger and comes with more features than Continue reading