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6 Mind-boggling Facts Of the Used Car Market

At some point in your history of buying cars, you are sure to have considered buying a used car. In the majority of cases, you will have purchased a used car because of the lower costs. Now more than at any time purchasing a used car is an option being taken by consumers. The used car business is booming right now. Take a look at these 6 key facts before shopping for a used car.

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6 Mind-boggling Facts Of the Used Car Market

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  1. 6 Mind-boggling Facts Of the Used Car Market

  2. Introduction At some point in your history of buying cars you are sure to have considered buying a used car. In the majority of cases you will have purchased a used car because of the lower costs. Now more than at any time purchasing a used car is an option being taken by consumers. The used car business is booming right now. Take a look at these 6 key facts before shopping for a used car.

  3. 1. Used car trades dominate the automobile market You probably think that this isn’t right because all you see on TV are commercials of new upcoming models ranging from a sedan to a SUV. However, it is correct and the used car market is around 3 times larger than the new car market.

  4. 2. Certified pre-owned (CPO) cars are hot CPO cars stand out from regular used cars in the way that they are inspected, refurbished and certified by a certifying authority. CPO cars provide great deals to the customer. Detailed inspections before purchase and manufacturer warranties are key benefits. Naturally they sell well.

  5. 3. An average used car goes through 3 owners Most used cars don’t have just a single owner. Most used cars have a minimum of 3 owners and many of the owners don’t have the maintenance history for the car.

  6. 4. Used fleet cars usually encounter more accidents Used fleet vehicles are those previously owned by businesses and it is recognised that these cars tend to have been involved in more accidents than privately owned vehicles. Always opt for an independent thorough inspection.

  7. 5. Odometer fraud is still prevalent Many vehicles have analog odometers and the mileage can easily be altered to increase the value of the vehicle. Even with digital technology odometer discrepancies are still quite common today.

  8. 6. 3rd Party extended warranties can be illicit The offer of extended warranties is a lucrative business, particularly when used cars are involved. Should you opt for an extended warranty? If the warranty is provided by a 3rd party and not the OEM we would question its value.

  9. Created By www.premier-plates.co.uk

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