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Used Car Shopping in the U.S. By the Numbers

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darby autocenter
Used Car Shopping in the U.S. By the Numbers

This year, more than 40-million Americans will buy a used car, and they'll save an average of $14,000 over the cost of purchasing a new one. As proof of the continuing trend toward buying pre-driven vehicles, the average age of a car on U.S. roads today is over 11 years old. In the Delaware Valley, wise shoppers look for the best used cars Philadelphia offers. You can begin your search online and then visit in person the dealerships that provide great pre-owned cars and trucks. Low down payments are a priority for many buyers, as is on-site financing. Dealers with a buy here pay here services are often the best.

With some manufacturers offering certified pre-owned programs, reconditioned used cars offer purchasers warranties similar to new vehicles. It gives auto shoppers more confidence and peace of mind about buying a used vehicle. Two significant financial considerations in favor of buying pre-driven are the price that's $14,000 less and favorable loan rates – in recent years, the cost of used car loans has risen more slowly than new auto rates. The selection of pre-owned lots is broader than ever before, and if you have an eye on a particular make and model, you can find it equipped with many options 

The most considerable hidden cost of car buying is depreciation. When you purchase a used car or truck at least three years old, it is vastly less than you lose on buying a new vehicle. Because of this, you'll also pay lower automobile insurance rates, which adds another layer of savings. It's why more financial advisors than ever advise their clients to consider buying used vehicles strongly. You'll also be able to afford a better make and model than you could purchase new within your budget, which can add to your driving enjoyment. When you combine all of these factors, you can see why buying used is trending.

Another interesting by-the-numbers fact about automotive purchase trends in the United States is this: about 17 million new vehicles will be sold this year while about 41 million used cars will be sold. As the gap widens between monthly payments for new and used cars, many smart shoppers decide in favor of pre-owned. You don't need to be a math wizard to see how much long-term benefit there is in spending less on the car you drive. When there is a minimal sacrifice in terms of quality and reliability – and many pre-owned programs offer warranties – it's easy to understand why people make the switch.

 

 

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