On a Budget? Consider Buying Pre-Owned
2020 was an interesting year! For many of us, surviving 2020 meant we tightened our belts and counted every dime. Many of us are still counting!
If you need a new vehicle and are anxious about that expense, we encourage you to consider purchasing a pre-owned or Certified Pre-Owned (CPO) vehicle. Both options are a budget-friendly way to maintain the kind of quality you’re looking for, but for substantially less than you would spend if you bought a new car.
Find peace of mind.
Not so long ago, consumers buying a used vehicle were skeptical. They were nervous about being taken advantage of by shady salespeople, and car buyers often felt they were playing defense when trying to purchase a car.
With the availability and widespread use of the internet, those days of shady salespeople are long over. All a car shopper needs is a VIN to find a complete and detailed vehicle history online, making any “shady-ness” obsolete.
Equally reassuring is the Certified Pre-Owned vehicle program available at most dealerships. For a vehicle to be labeled “Certified,” it must meet a lengthy, standard corporate checklist of criteria. This thorough checklist, which can be found online on any car manufacturer’s website, should increase consumers’ confidence.
Some CPO vehicles come with extended warranties. If they don’t, most dealerships will allow you to purchase a warranty on a used car, too. Be sure to ask one of our sales team members about the warranty availability on the vehicle in which you’re most interested.
Save Money.
We all know that old saying about new vehicles losing value the minute they’re driven off the lot. As much as we all wish that weren’t true, it is. Some estimates put depreciation values as high as 30% within the first year. That’s a lot of money to consider.
By buying used, whether Certified Pre-Owned or not, you save money immediately. Usually, a Certified Pre-Owned vehicle falls right in the middle of the car-pricing scale. If a patient shopper waits long enough, they should be able to find a car that is comparable to the brand-new vehicle they’ve had their eye on in every way – except in the odometer reading.
Ask the financing team about lower interest rates and other savings that may be available when buying used or CPO. For many consumers, the savings in interest rates is well worth considering a used car.
Buying a used vehicle also saves money on car insurance. One of the most critical factors in determining car insurance costs is the value of the car itself. If a car is older, you may also save money by dropping some insurance elements, like collision and theft coverages.
Another potential savings lies in the transaction price and registration fees. Some states don’t charge as much for used vehicles as they would new. It’s worth checking into the particulars to see what your savings may be.
Improved variety.
It is estimated that between 300 and 400 new car models are put on the market each year in the United States. It stands to reason then that with used cars, there is a nearly endless variety available.
With patience and persistence, it’s possible to find your dream car, with all the bells and whistles, for considerably less than you would pay for it brand new.
Do your research. There are several websites, forums, even Facebook groups dedicated to discussing used cars available near you and the values and variety available.
Remember, cars last much longer than the fabled 100,000-mile expiration date of long ago. Because of this, don’t be discouraged by a higher odometer reading. It may be the difference between getting the car you’ve always wanted and settling for a car that just serves its purpose.
About Us
If you know you need a new vehicle but you’re anxious about what that may do to your monthly budget, we can help. Our team at Vatland CDJR understands what it means to be on a budget. Pinching pennies is nothing new and nothing to be ashamed of, either!
We have a vast inventory of Certified Pre-Owned and pre-owned vehicles from which you can compare, contrast, and choose the one that works best for you.
We will answer all your questions, take time for your test drives, and work with you in the financing department, too.
Visit us on South US-1, and let’s work together to find the perfect vehicle for you. Savvy shoppers know to look at used and CPO programs. You may be delighted by the savings you can find!
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