The decision to purchase a vehicle is a major one because of the amount of money involved. People want to know that their purchase will be one of high quality and of course at a great price. It is important to have a large selection of inventory to choose from without pressure from pushy sales people. For many people used cars are just as good an investment as a new one.
There are many benefits for people who decide to purchase used cars instead of new. Most dealerships have a good selection of inventory available, so you can have your pick of different styles and vehicle types. Perhaps the biggest benefit is affordability. New vehicles are always more expensive, and they tend to depreciate in value much faster than a pre-owned one. They usually require a higher down payment, usually ten percent of the purchase price. Of course, the higher your down payment, the lower your monthly payment will be. A new model depreciates in value from the moment you drive it off the lot. They usually lose 30 percent of their value within the first two years of ownership.
Another major benefit of purchasing used cars is being able to buy a certified pre-owned model. Most manufacturers have instituted these programs into their existing inventory. Inventory in these programs are usually late-model and have relatively low miles. In order to obtain certification, there should be no history of any major damage, and they must undergo a rigorous cosmetic and mechanical inspection. It is also common for these models to be covered by an extended warranty that offers many of the same features as a new warranty. Certified pre-owned models usually come with special financing offers, which are at a much lower interest rate than most new models.
Many people who decide to purchase used cars still need some type of financing. Not every dealership works with the same network of lenders, so some people may have more difficulty than others obtaining financing. Usually, customers with bad or no credit will require a cosigner or be required to put down a larger down payment. The more financing options a dealership can offer, the better chance they have of making a sale.
No matter where a person decides to make their purchase, they want to feel confident that they are getting the most for their money. Many customers will look for dealerships that will continue to offer them deals after their purchase is final. This might include free washes, discounted oil changes, or special attention when they are in for maintenance or service issues. Having a knowledgeable sales staff to listen to their needs but not pressure them into making a purchase is also important to customers. Most people just want to find reliable used cars at a great price.