10 Almost New Cars that Should Be Bought at Used Car Dealerships near Me | CommunityCars.com Blog
There can be hidden benefits to shopping for a newer modeled vehicle compared to purchasing a brand new one at used car dealerships near you. The biggest one is the cost savings you experience by purchasing a vehicle that is a year or two old. The vast majority of all vehicles experience a significant loss in value during their first year, after they are driven off the car lot.
For the second and third years, the value lost (depreciation) is only a fraction of this amount. Even by the fourth year, the decline in depreciation is still less. In many cases, the total amount of depreciation lost between years two and four can be several thousand dollars less than the original amount lost during the first year!
Depending upon the type of vehicle you are shopping for, you can experience significant savings while still taking advantage of any remaining original car manufacturer’s bumper-to-bumper warranties. The more popular vehicle classes, where you can expect the most savings, are SUVs, luxury vehicles, and trucks.
- Ford F-150
- Chrysler 300
- Chevrolet Avalanche
- Chevrolet Trax
- Cadillac ATS
- Ford Escape
- GMC Sierra
- Nissan Frontier
- Kia Sportage
- Nissan Rogue
- Lincoln MKC
On average, these vehicles lose between 30% and 35% of their original value in depreciation during the first year. For instance, on a vehicle with an original cost of $40,000, this amounts to between $12,000 and $14,000 in savings by waiting a year to buy it as a certified pre-owned vehicle. Furthermore, the above list does not include a wide range of other compact, full-sized, luxury, crossover, and SUV cars and trucks which also lose most of their value the first year.
When you are shopping used vehicles, take the time to do some research and compare the costs between its original new car price and the current used car price to determine how much you are actually saving. For assistance in finding the right used car at the best prices, remember to shop at the dealerships featured here at Community Cars or call us at 888-340-0339 today!