Pre-owned dealerships offer their customers vehicles that were previously driven by single or multiple owners. These dealers of pre-owned vehicles offer their customers cars that can be of great value at a price that is far more affordable than any vehicle that a buyer might find on a new car lot. In fact, as the automotive industry builds an increasing number of models that are lasting for far more than 100,000 miles, the pre-owned dealerships in America often see significant increases in their monthly and yearly sales totals.
Learning to successfully work with used car dealerships, however, can take both research and patience. For instance, the used cars that are for sale on some lots are not always the same as those that are offered at another location. Most used car buyers find their most success when they are working with a reputable dealer with an extensive inventory of vehicles in a variety of price ranges. In addition, understanding the difference between bank provided auto financing and the buy here pay here financing option is beneficial. From knowing how your credit score determines interest rates, to understanding why having a down payment can be the deciding factor when getting approved for an auto loan, the process of buying a used car can provide great value, but it also requires close attention to details like milage, previous ownership, and many other factors.
Finding the Best Used Cars for Sale Takes Time
Not everyone has a widowed aunt with a like new car sitting in her garage. And while those people who can rely on a relative to be a source for a reliable and dependable used car, the majority of Americans find themselves looking on pre-owned dealership lots for the used cars, trucks, and SUVs that they drive. Understanding the value in buying a used car from a reputable used car dealer is important because not all individual sellers can provide the same value. Working with a used car dealership that specializes in one-owner vehicles, for instance, can provide reliable transportation options for buyers in all price ranges.
Consider some of these basic guidelines when you get ready to look for your next vehicle from a used car lot:
- 38.3 million used-vehicle sales industrywide were recorded in the year 2015. According to the 2015 Used Vehicle Market Report, this is the best annual total in eight years. These numbers are also an indication of a market that favors buyers, not sellers.
- 40 million used cars exchange hands each year, when numbers from private-party and dealership sales are combined.
- Considering a certified pre-owned (CPO) vehicle is recommended If you are planning to buy a vehicle that is less than five years old.
- $5,000 and under are the most frequently searched price ranges for used vehicles.
- Most banks will not give a buyer a loan for a car older than four or five years.
- Three ownership histories are the most common for used cars.