Busting the Top 5 Myths About Buying a Used Car
More People are Buying Used Cars – Let’s Clear Up Some Myths
The 1-2 punch combination of inflation and higher-than-ever new car prices is leading savvier car buyers to buy used cars and pre-owned luxury vehicles and SUVs. It’s not hard to understand why. Used cars and trucks have always been a better value.
Today’s vehicles run over 200,000 miles without a hitch as long as they are maintained. Why not let someone else eat that depreciation? The average new SUV or car loses 20% of its value in just the first year.
So, do you want to buy a new vehicle and wait weeks or even months to get it…for over MSRP? Or do you want to let someone else ride out the first 10-20k miles and save yourself $8-10,000 or more?
It’s an easy decision if you do the math!
People avoid used cars largely because they believe in unfounded myths — here are the Top 4 Myths About Used Cars:
1.) Used Cars Are Sold Because Something’s Wrong with Them
This one really makes us roll our eyes because it just doesn’t add up. It assumes that no one ever leases a car or truck and everyone keeps their new vehicles until they hit 300,000 miles. That doesn’t make a lot of sense, does it?
THE TRUTH:
Most low-mileage used cars, trucks, and SUVs come from leases, company cars, fleets, or people who just like to buy a new car every 2-3 years. Major World technicians also do a detailed top-to-bottom inspection and road test of every vehicle we buy before it enters inventory.
2.) Used SUVs and Cars Don’t Get Scheduled Maintenance
Again, this is another myth about used cars that makes no sense. Who buys a new car for $40-50,000 and is then too cheap to get the oil and air filter changed? This myth doesn’t pass the smell test.
THE TRUTH:
Most of the low-mileage used SUVs and sedans we source come off of leases, company car fleets, and/or are 2-3 years old. Most of them came with FREE scheduled maintenance. What’s more, people tend to take great care of new cars.
3.) Used Cars Aren’t a Good Deal and Don’t Get Good Financing
We have no idea where this one came from because it’s the opposite of reality. Saving 30-50% off the price by buying a 2-4 year old vehicle that still has tons of life left is THE definition of a good deal. You get 90% of the vehicle for 50-70% of the price.
THE TRUTH:
Most of the depreciation of a new vehicle comes in the first few years — yet today’s cars and trucks last well over 200,000 miles. It’s easy to see the value in used cars. As for financing — that’s decided based on the purchase price, downpayment, and credit score, nothing else. New or used has nothing to do with it.
4.) Used Cars Don’t Have Any Warranty Coverage
Some people are under the impression that as soon as a new car is sold to someone else, any warranty coverage that vehicle has goes bye-bye. It’s definitely not that simple. Keep reading.
THE TRUTH:
First, there are federal laws protecting your rights under a warranty that you should know about. Second, most manufacturers have transferable warranties now, so whatever miles remain on the warranty go to you. Third, there are lots of great options for manufacturer and aftermarket extended warranties.
5.) Used Cars Have Poor Resale Value
Some people worry that if they buy a used SUV or car and then decide they want another in a few years, they will have lost more value than if they had purchased a new one. That’s not true at all.
THE TRUTH:
Remember how we said earlier that new cars lose 20% of their value in the first year and the bulk in the first 5 years? What that means is that the first owner of a new car almost always eats the most depreciation of all. One of the best reasons to buy a used SUV, car, or truck in the first place is the money you save. That rule still applies if you sell the car after a few years.
Major World for Major Value in Used Cars and SUVs
If you or your family are shopping for a used SUV, crossover, car, truck, or minivan in New York — your first stop should be Major World. We built our reputation the old-fashioned way, by delivering serious value and square deals on the nicest vehicles we can find.
The way we see it, if we treat our customers like kings and queens, they’ll come back and they’ll tell everyone they know. That’s our marketing strategy in a nutshell. Great prices, great service, and easy financing that gets you on the road in no time.
Browse from your phone or computer using our online search portal. We offer a simple, no-nonsense financing process that you can start online before you even get here (it won’t touch your credit BTW!).
You deserve the very best used car dealership in Long Island. Get the Major World standard of customer care right now by calling (866) 614-2884.
