4 Misconceptions About Purchasing a Pre-Owned Vehicle
Purchasing a pre-owned vehicle used to be seen as an unreliable gamble compared to driving a shiny new car straight off the dealership lot. Stereotypes of sketchy used car sales associates peddling barely-running beaters persisted for decades. However, the pre-owned auto market has changed drastically in recent years as improved quality, advanced safety features, better financing options, and extended warranties made pre-owned vehicles much more appealing. Now, you can often get more value by buying pre-owned compared to paying the full sticker price and suffering rapid depreciation with new.
Many myths and misconceptions still cause car shoppers to shy away from used rides. Let’s bust four big false assumptions about purchasing pre-owned vehicles in the modern market. You may be surprised to learn how buying a pre-owned vehicle today is nothing like the dicey propositions of the past. Modern pre-owned cars are far from the junkers and compromise buys they once were, thanks to major improvements across the board.
1- They’re Just One Step Above Junkers
The image of sketchy used car lots peddling barely-running beaters is outdated. These days, dealers thoroughly inspect trade-ins and auction vehicles before listing them for sale. Strict certification programs also help ensure quality and reliability. So you can find late-model pre-owned cars in like-new condition for thousands below the original sticker price. Modern pre-owned rides are far from lemons waiting to strand you on the highway.
2- Interest Rates are Sky High
Surprisingly good financing deals are available, even for buyers with less-than-perfect credit. Lenders understand the used market is lower risk thanks to better vehicle dependability and growing consumer demand. Shop around with an open mind, as you may qualify for competitive interest rates under 5% on pre-owned purchases. Payments often match or beat what you’d pay for new.
3- They’re Not as Safe
Major advancements in auto safety happened in the last decade. Features like backup cameras, blind spot monitoring, emergency braking, and stability control are now common, even on modestly priced pre-owned models. You can get a safe, modern car for your family without breaking the bank. Test drive thoroughly and check crash test ratings for added reassurance. But don’t assume pre-owned means unsafe.
4- There’s No Warranty Protection
Reputable dealers often include short-term warranties with pre-owned car sales at no charge. Extended protection plans are affordable add-ons that mimic new car coverage for 1-3 years. Between basic and extended warranties, you can match or exceed the peace of mind that comes with new…all while keeping more cash in your wallet. Carefully review what warranty options apply before purchasing your pre-owned ride.
Clearly, old stereotypes about the risks, costs, and compromises of buying a pre-owned vehicle no longer apply. With smart shopping, you can actually get more value purchasing pre-owned vs. accepting dealer markups and rapid depreciation on new. Be sure to keep an open mind, take your time evaluating options, and pay attention to included perks like warranties. Today’s high-quality pre-owned vehicles break all those past stigmas around buying used.
