Getting The Best Deal On A Used Vehicle

It’s no secret that used cars are the single best way to save the most money when purchasing a vehicle. Of course, in order to get the best value when shopping for used cars, you have to keep an attentive eye on details regarding the vehicle’s overall condition. Visiting a dealership is the ideal way to shop, but we now live in an increasingly digital world, and the internet has become a rather popular place to purchase vehicles. Perusing the web and utilizing sites such as Craigslist is a common event these days, and you may even find a listing that looks promising enough. But the truth is, you simply will not get all of the details that you would not only like to know but should know.

It is not that you are guaranteed to get scammed in this regard, but the chances when dealing with a private seller are far riskier in general. If a deal seems too good to be true, chances are digging deeper will expose the issue that makes the price so low. However, just because the price is low and the deal is good, it does not mean that the vehicle is destined to be lackluster. Dealerships such as ours now have a multitude of offerings that go far beyond the traditional used cars, many of which are dedicated to offering the same vehicles that drivers want at significantly lower costs.

Once Upon A Lease

One of the main reasons why a driver would lease a vehicle is because they are looking to upgrade on a regular basis. However, in order to stay within the confines of the contracted requirements, drivers with a leased vehicle are required to remain under a given mileage limit. In addition to this, a previously-leased vehicle is always guaranteed to be less than two to four years old, depending on the lease. Although a formerly leased vehicle is still technically pre-owned, chances are the previous owner was extra careful with the vehicle in an effort not to be penalized when the lease ended. Each vehicle that is returned to the dealership at the end of a lease is put through a rigorous inspection process before the driver can get their new lease.

There are a lot of advantages to purchasing a vehicle fresh off a lease, as it provides a high value and relatively new car. Since an off-lease vehicle is not old by any means, they are more than likely to contain an array of modern features. Sure, the industry moves fast, but a couple of years is not that long. Plenty of engines from even five years ago are still in production today, and you are likely to find an infotainment center in previously-leased vehicles with some of the most modern amenities such as Apple CarPlay and Android Auto. The value of formerly leased vehicles is seen in a few different ways, but the most significant of them is depreciation.

Avoiding Depreciation

The concept of depreciation is when a car begins losing value after its first purchase, and vehicle depreciation can be far more severe than some shoppers realize. According to CarFax, after purchasing a brand new vehicle and driving it off the dealership lot, it will only take about a month for the vehicle to lose 10% or more of its value. By the time a vehicle is five years old, it may have lost up to 60% of its original value. In other words, if a new vehicle was priced at $70,000, it will lose $7,000 of its value in the first month after its purchase and will have lost a striking $42,000 in value after five years. However, by purchasing a previously-leased vehicle, the worst of the depreciation process has already taken place, and it will not trouble you as much as the previous owner.

Previously-Leased & Certified Pre-Owned

Sometimes you may find a previously-leased vehicle that is also a certified pre-owned (CPO) vehicle. There are many similarities between a previously-leased vehicle and a CPO vehicle, including the detailed inspection before their sale, that the vehicles cannot be more than a certain number of years old, and that they must be under a specific mileage limit. What differentiates a previously-leased vehicle from a CPO vehicle comes down to a few key things, such as the inclusion of a warranty from the dealership. The extra warranties on a CPO vehicle are specially designed to boost buyer confidence and provide peace of mind through an immense amount of additional coverage for a wide variety of repairs.

Much like a previously-leased vehicle, a CPO vehicle goes through an inspection process to ensure everything is working as it should before the vehicle is sold. This inspection process guarantees that no stone has been left unturned, and any required repairs during the warranty period will be covered. Not any car can become a CPO vehicle, and failing the inspection will result in the vehicle not being sold as such until any outstanding issues have been corrected. Although CPO vehicles are generally pricier when compared to standard used cars, this fact is easily outweighed by their higher reliability, one of the very most important aspects of any vehicle.

More Power And More Savings

Savings is the name of the game, and by shopping for used cars, you have already won. Regardless of whether you purchase a previously-leased, CPO, or traditionally used vehicle, the savings will be immense when compared to purchasing a brand new vehicle. Sometimes these savings can be particularly beneficial, such as allowing you to buy a higher trim vehicle that is better equipped than the base model. By purchasing a higher trim, you may be able to treat yourself to increased performance, more robust entertainment and connectivity features, and an interior with superior materials such as genuine leather.

Doing your research right can net you some rather impressive results. Depending on the age of the vehicle, it is more than likely that you can find a higher trim at a far lower cost than you could if you were shopping for newer versions. And by purchasing a previously-leased or CPO vehicle, you will still be paying less than with a new vehicle while taking advantage of nearly all of the benefits.

Shopping Around For Pre-Owned Vehicles

Used cars are a fundamental piece of the automotive industry, and more importantly, they are the best way to save money when shopping for a vehicle. Dealerships such as ours offer an extensive catalog of new, used, and certified pre-owned vehicles so that you can find your perfect car at a very competitive price. With the assistance of our highly knowledgeable sales team, you will have no shortage of answers to any of your questions, and together we can help you acquire your dream vehicle.

Our on-site finance center is also a great place to visit should you require any financing or perhaps wish to value your current trade-in. And our on-site service center and parts center is here to help as well. Our service center provides a wide range of repairs by our professional mechanics, while our parts center allows you to order anything you need, whether it is for on-site maintenance or your own DIY projects at home. If you are in the Indiana, PA area, then Colonial Motor Mart looks forward to assisting you.