Whenever we want to buy a car, there are two main options. We can buy it new or used. New cars are sold in automotive manufacturer showrooms across the world. When you buy one, you are its first owner. On the other hand, used cars are pre-owned and have had one or more owners in their past. They are usually sold through various outlets. Examples of these are auctions, independent used car dealers, franchise dealers, rental car companies, private party salesmen and also leasing offices. These outlets make up the used car market. Unlike in a showroom, you can haggle the price of a used car, pick only certified used cars, enjoy warranties and service plans which are extended.
The Growth of the Used Car Market in Recent Times
The used car market has grown in leaps and bounds especially in the West. It has contributed a larger amount of revenue than the new car market in terms of dollars. In the United Kingdom, the used car industry contributed 51% of all the revenue generated in the car market. Moreover, this market has had a bull run in the United States for more than half a decade. It has made a 68% growth ever since the global financial crisis. This has caused the price of a used car to increase beyond $18,000 per unit. This is because consumers are younger in age and consequently want younger used cars. This price is expected to reach $20,000 per unit by mid 2017. The growth has been spurred on partly by a change in attitude towards purchasing a used car. Consumers have discovered a number of benefits in buying used automobiles. Here they are.
The Benefits of Buying a Used Car
It is easier to finance the purchase of a used car. This is because your dealer can enthusiastically assist you to complete applications for credit because they are motivated by your approval. This also saves you the stress of having to do a lot of paperwork on your own. Your dealer assists you to complete your paperwork thus you never have to stand in long queues at the Department of Motor Vehicles (DMV). A great used car dealership in Toronto such as Dupont Auto Centre has a great reputation for satisfying all customer needs.
A big benefit of buying a used car is that you get to choose between very many types in the car dealer’s lot. This provides you with variety. In addition to that, you can test drive as many cars as you want with the assistance of a certified and professional driver. Cars in the used car dealership are checked thoroughly before sale.
You are always advised to purchase a pre-owned car that has a manufacturer’s warranty. Also, automobiles in used car dealerships are inspected so that they meet high standards of detailing, appearance and mechanical performance. In addition to that, you can request and get a history report of every car that you purchase. This proves that it is certified and in great working condition.
Buying a used car is an easy and affordable way to get your own automobile. The market of used cars is growing by the day and you can get literally any model that suits your fancy. Some benefits of investing in this market are indicated above. Read them and gain some insight on how to get a car today. I hope this information was useful to you. As always, feel free to comment below and let me know what you think. Please share any of your own stories of any used car purchases that you have made and how they may have stacked up to a new purchase that you or someone else may have made.