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There's no doubt about it anymore, the car market is changing and a lot of that has to do with rising fuel costs. All statistics tell us that more and more people are downsizing in the kinds of vehicles they drive and moving from the more expensive SUVs to the smaller compact models, and there is also a trend that is becoming evident that the used car is selling more rapidly than the newer car.
It is possible to buy a high quality used car for less than market value, drive it for several years, and then resell it at a price close to the original. If you've done your homework and show a lot of patience you can save a lot of money on a used car. Used cars are cheap to buy since the appreciation takes a large chunk of the price of the car as soon as you drive it off a lot brand new.
As well, used cars are cheaper to insure because the replacement value of these is lower and insurance premiums on older cars are lower than the brand new models. For the most part, used cars are well taken care of. Particularly recently, these cars have been turned in after a one, two, or three year lease, and to avoid penalty charges consumers have taken care to make sure these vehicles are up kept in top condition. One of the last advantages to choosing a used car is their abundance.
When you first start looking for a used car on the market you will be amazed at all the choices. With such a wide range to choose from the consumer has quite a bit of power and the ability to walk away from any deal.
But there are disadvantages to the used car as well. Used cars have limited warranties or maybe even no warranties at all. As well, some used cars can have a checkered past and it's difficult to get an accurate history of these cars unless there are fully documented service records within the vehicle. Although it may not look that way on the outside, used cars are usually overpriced as well—especially from the dealerships. Make sure you always try to negotiate at least 10% off the sticker price.
Finally there is a disadvantage to the used car that you may not have thought of and that's that every used car is unique and because of that finding one that comes together with everything you want can be a chore. Every used car has different mileage, different options, and different driving characteristics. If you've decided that the used car is the right vehicle for you, it's wise if you keep your wish list flexible. Make sure that what you expect from a used car is fairly simple and not to elaborate. Used cars tend to come with different variations that are out of the control of the buyer.
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