There’s plenty of upside to driving a new car off the lot, but is it the only answer to your high-quality vehicle dreams? No. Below, we’ll lay out a case for considering used cars for sale near you.
Reasons to Shop Used Cars for Sale
Lower Depreciation Rates
According to CARFAX, a new car loses an average of 10% of its original value — in the first month alone. After the first year, the vehicle will likely lose 20% of its original value, and each subsequent year (up to four years), the buyer can expect an additional 10% loss in value.
This means that if you purchase a car today for $50,000, current depreciation rates anticipate it will only be worth $40,000 after a single year. After the second year, it will be worth $36,000, and after the third year, it will only be worth around $32,400. This means that in three years time, your new car will lose approximately $17,600.
Used cars, on the other hand, undergo a less drastic dropoff.
More Value Per Dollar
By buying a used car that is only two or three years old, you can bypass this depreciation hit while still enjoying the benefits of owning a newer-model car. In fact, Consumer Report agrees that you may be able to afford a better model used than you would be able to afford new.
If you are willing to do the extra research to find a gently-used, certified pre-owned car, you could return home with the vehicle of your dreams while leaving thousands of dollars in your bank account. And you will find you have a larger number of vehicles to choose from.
Shop Used Cars for Sale in Goldsboro, NC
With so many used car options to choose from, the process of finding the right used car for you can feel intimidating. At Matthews Motors Goldsboro, you can guarantee affordability without sacrificing quality.
Visit our dealership today to explore a diverse selection of used cars for sale in Goldsboro, North Carolina. Our staff is highly trained and is looking forward to meeting you.