If you would like to be assured of purchasing a top quality used car or truck, there is just one place to go. These used cars are the next best thing to a new vehicle and include rock-solid warranties and are recently repaired and updated to guarantee peace of mind. Be aware, however, that you’ll be expected to pay top dollar for these jewels.
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The Best Used Cars; Where are They?
The best-used cars probably will not be found in automobile sales lots at the edge of town near a cornfield. That is where you’ll discover terrific bargains on corn, but not cars. You’ll discover that the best-used automobiles at brand name dealerships. The reason is simple. These dealerships get their pick of the best-used cars available.
Brand name dealerships are picky over which used cars will find a home on their used car lot. This component of the dealership lot is coveted by the supervisors because the sales of these used cars represent a good chunk of the dealership’s revenue. Car industry numbers demonstrate that these dealers make more profit from used cars sales than through the sales of new cars.
Dealerships always have their eyes open for used cars to market, but these dealerships do not take any vehicle. They are especially excited to take trade-ins from those buying a new vehicle. These are cars about six years old or newer with less than 80,000 miles on the odometer. These are the sorts of cars sought after by used car buyers and command a premium.
The dealership will put these vehicles through a reconditioning process that might include new tires, replacement of worn components and repair of components not up to par. After the vehicle is repaired and refurbished, it goes to the used car section and is available for sale. It is sold for approximately 20 percent over its trade-in cost.
Certified Used Cars
Even better deals are available on used cars that are four-years-old or newer, with a mileage reading less than 50,000 miles. These vehicles will experience a rigorous repair and replacement regimen and are stamped with the coveted Certified Used Car label.
These used cars must meet a manufacturer’s strict requirements. These terms include a thorough inspection, such as strict tests on the car’s electrical systems, mechanical components, and body parts. The point of this Certified Used Car label is to assure prospective buyers that they are purchasing a car that meets point-by-point factory standards.
Moreover, the dealer may also offer an extended warranty of 12 to 24 months and qualify the buyer for rock-bottom financing. These cars are the next best thing to brand new.
Only new car dealership franchises may offer the Certified. Seeing the tag “dealer certified” or “accredited” on used car lots isn’t the same as Certified Used Car. Those labels are just designed to confuse used car shoppers and are not backed by the automobile manufacturer. Remember, just a new automobile dealership can put a Certified Used Car label on a used car.
Used car shoppers will pay a premium for a Certified Used Car. That price can add $500 to $2,000 on the sticker price. Luxury used cars will see a $2,000 to $3,000 premium added to the sales price for the Certified Used Car label.
This tag is like a reassurance banner attached to the used car, promising the owner that the factory is riding shotgun and backing up the performance of a secondhand car for a period of time.
See also: The Ultimate Used Car Buying Guide
Other Places to Find Used Cars
The used car dealer market falls into three broad categories. The best-used automobiles, as shown above, are those located on new automobile dealership lots. Dealerships have the money and ability to refurbish a used car to make it roadworthy and extend trouble-free driving for several years. The manufacturer’s warranty, running for 12 to 24 months, offers peace of mind to the used car buyer.
The used cars which don’t meet the new car dealership’s criteria will be sold at wholesale to used car lots. These can be vehicles with higher mileage or electrical or mechanical issues that the dealership does not want to repair.
That doesn’t imply that good deals cannot be found on used car dealerships. The used car operator may opt to fix an issue and market a perfectly good vehicle to a purchaser. The used car buyer may also opt to fix any issue and deduct the cost of the repair from the sticker price.
Other perfectly good cars can make their way into a used car dealership for the simple reason that a particular brand isn’t sold at the new car dealership. To put it differently, a Toyota dealer may move a Ford trade-in off the lot since the Toyota dealer doesn’t sell Fords. People searching for Fords do not go to a Toyota dealer.
The vehicles which will not make much money – a couple hundred dollars within the trade-in cost – find their way to automobile auctions. Again, it is still possible to discover a great used car at an auction, but the used car buyer is competing against professional and skilled buyers.
If you’re seeking the best-used automobiles, head to a new car dealership and search for the Certified Used Car label. The dealership will refurbish that used vehicle, repair electrical and mechanical issues and backup that vehicle with a manufacturer’s warranty. That service offers safety and peace of mind. However, the automobile buyer should expect to pay a premium for this service and security.