There will always be a surplus of used cars on the market. With every new car dealership also is a lot of used cars and trucks. Even when shopping at a top dealer you will find used inventory from other dealers within the lot. But why buy a used car over new? For many people they ask themselves just the opposite. They think, "Why buy NEW over USED?" There is a huge market for used vehicles and many reasons why people choose them over newly released models.
Yes you may be foregoing manufacturer warranties when purchasing a used automobile, but not necessarily. Unless you are buying something that is over five years old, typically the car is still under warranty. It typically works so that you are covered for certain vehicle flaws if they happen, for example, within the first five years of the car's lifetime or the first 30,000 miles-whichever comes first.
Every car buyer knows that if you buy a new car the value diminishes instantaneously to when you drive it off the lot. Many people view this as their main reason why they do not want to buy new. Yes buying new means that you have full exposure and responsibility to the history of the vehicle, but then again...that's what car fax is for. All cars have VIN numbers that make it simple for current owners and future owners to easily see the history of the car. This is also for your safety and confidence as a potential used car buyer.
You can absolutely finance a used car. It is harder to find a dealership that does not offer finance options than it is to find one that does. With any kind of decent credit you should quality for a loan. If you maintain and responsibly make your payments, then you will only help build your credit. People typically sign on to auto loans that are anywhere from 24 to 60 months in duration. Trade-ins and down payments will help bring your monthly payments down.
Don't be turned away from buying a used vehicle...they can have just as many perks as buying new. Not only can you finance but you can still enjoy warranties depending on the year. To make sure you get the most out of your purchase, keep up with maintenance and don't forget to look into the car's history before you sign any papers!
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