4 Myths About Buying Used Cars
Myth #1: Used Cars are Unreliable
Fact: Manufacturers improve the reliability of cars every year, and cars that are still reasonably new offer reliability very close to brand new cars.
Myth #2: Used Cars Don’t Have Warranties
Fact: If you target the right cars, you will also have the benefit of full factory warranty coverage. Newer used cars still have warranties, and there are many factory and extended warranties available if you should decide to keep the car for a longer period.
Myth #3: People Only Sell Cars When They’re Breaking Down
Fact: People sell their cars for all kinds of reasons – not just when they are on their way out. For many people, this is simply a matter of having the latest and greatest of everything as a status symbol. For others, the reasons include having children, relocating or needing to buy a different car to suit business needs.
Myth #4: Used cars are out of fashion.
Fact: First of all, think about how much fashion is worth to you. Are you willing to trade fashion for financial stability, or at least thousands of dollars in savings? Secondly, most of the time if you buy a car that is used, but still new enough to be covered by the factory warranty, you will still be driving the current generation of the car and hardly anybody will know the difference. The last generation BMW 3-series was a great example of this. It kept the same body style from 1999 to 2006, of which I have owned two. The only question I have been asked is how I was able to afford such a nice, new luxury car. The fact is, I wasn’t able to afford the cars new – I let someone else take on the depreciation and bought the cars for less than half price.
