Tuesday, August 6, 2013

Understanding Four Different Used Car Markets

Are you facing the problem of needing to acquire another vehicle but don’t have the budget to buy a new car? There are many different options available when buying a used car. Random websites flash advertisements that urge you to “click here” to find the right one. Dealerships offer a wide selection, and there are always the classifieds. All the differences can be confusing. However, there are really only four basic markets for used cars:
  • Privately owned cars
  • Online auto sales
  • Used cars from a dealership
  • Certified pre-owned vehicles from a dealership
Privately Owned Cars
One option for buying a used car is to buy it directly from its current owner. Many people have bought great cars this way that have lasted for years. Although the price is generally the lowest for this market, there is also more risk involved. You could buy a great car or walk away with a lemon. Buying a high-quality car from a private owner takes a lot of effort on your part. Be sure to ask a lot of very detailed questions about the car. The more detailed questions you ask the more difficult it is for a person to pawn off a bad car.

Online Auto Sales
This is a fairly new option. There are online markets that sell vehicles. When exploring these options, remember to get detailed information about the vehicle you are interested in. If you cannot get enough information about a particular car, go elsewhere.

Regular Used Cars
Auto dealerships have a rotating inventory of used cars. Chevy dealerships will have used cars that are various makes and models, not just Chevrolets. However, their inventory is always rotating, and you might not find exactly what you are looking for. 

Certified Pre-Owned Vehicles

A certified pre-owned car is an excellent way to buy a new car that is in great condition. Car manufactures will refurbish their vehicles and bring them up to a high-quality standard. These cars carry various warranties that take the risk out of buying a used car. However, because the cars have to be refurbished, they are also more expensive for a used car. You can check out a manufacturer’s inventory at home when you visit the website of a particular manufacture and “click here” where the certified pre-owned button is.

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