All important decisions pose legitimate pros and cons. Our salespeople at Performance Ford Windsor encourage our customers to think through all the pros and cons of pre-owned vehicles before making final decisions.
For many savvy and budget-conscious consumers, buying a pre-owned vehicle is the best way to go! At Performance Ford Windsor, we have a healthy inventory of pre-owned vehicles from which to choose.
Pre-owned vehicles should always be a consideration because of the savings, variety, and certified pre-owned programs we can provide.
Used cars cost less than new cars. Period. It is true that in general, you can get more bang for your buck when you purchase used. You can also make informed choices on more problematic makes/models because they’ve already been road-tested. That also holds true with which makes and models are safe, reliable, and proven road-tested.
It’s generally accepted that a new car depreciates in value 20% when you drive it off the lot and an additional 10% in the first year. A 30% value loss in only one year is a hard financial hit to take - especially when you factor in the interest paid over the first year. No matter how you try and do the math, it’s hard to make that come out to any kind of advantage.
Think about insurance this way: the more value a car has, the more the insurance company has to pay to replace it. If the vehicle you’re purchasing is not the latest model, it has less value; therefore, it will cost less to replace it. So your insurance should be less expensive.
Most warranties are for 3 years or 36,000 miles, so it may be that the used car you are purchasing is within the warranty. If not, ask your knowledgeable salesperson about expected maintenance costs for your used vehicle and whether there are any warranties available.
While savings is likely the number-one reason consumers buy a pre-owned vehicle, sometimes the lower monthly payment is offset by more frequent maintenance needs.
Let’s face it: no matter how nice it is, a pre-owned vehicle isn’t new. For some, that’s a real obstacle. The price of a pre-owned vehicle is generally lower than a new car, but if you are buying without any kind of warranty, it is considered a good standard practice to put a little money aside each month for the possibility of an unexpected maintenance issue. This varies greatly based on the age of the vehicle and the number of miles on the vehicle at the time of purchase; however, it is worth keeping in the back of your mind.
If your budget will only allow for the base model of a brand-new vehicle, it may very well be that if you buy the same make/model used, you can afford much more than is offered by the base model.
Every year vehicle models change, which puts more and more variety into the used car inventory. You can afford to be picky and look for exactly what you want because odds are, you’ll find it.
They say variety is the spice of life. They also say patience is a virtue.
While variety is definitely available, if you are super specific about the vehicle you’re interested in, it may take a while to find it. Buying pre-owned will be less frustrating if you are amenable to all possibilities available.
Certified pre-owned programs vary; however, they’re worth asking about. All manufacturer-certified vehicles include a warranty of some kind and often have added benefits, like roadside assistance or a loaner if your car is in the shop.
Think of certified pre-owned programs as being a step above when it comes to purchasing a used car, because these vehicles are almost always low mileage and still covered by a factory warranty.
However, some dealerships may not have the inventory of certified pre-owned vehicles you’re hoping for. It’s important to find out what is available. Also, certified pre-owned vehicles are typically more expensive than used vehicles. Ask your salesperson about the differences between certified pre-owned and used, and make sure you understand which you’re buying before you sign on the dotted line.
At the end of the day, buying a car is a big deal. It doesn’t matter if you’re buying certified pre-owned or used; either way, we understand the importance of this purchase.
Our trained professionals at Performance Ford Windsor want to show you the savings, variety, and make sure you have all options available to you for a fraction of a new car’s cost.