Should I Buy an Old Used Car?
It is not unnatural for you to see a 2005 Toyota Camry on the road today even when the car is almost over one and a half decades old. The facts stating that cars are known to run seamlessly for about 300,000 miles are also not surprising. Unlike the late 1900s, car manufacturers today are making vehicles for the long haul and every part is surviving longer than ever. Now, when it comes to old used cars, a few points do make a strong case. But you should not be closing your mind with them and take home a 10-year-old model without evaluations. There is a lot more to the right decision that normally meets the eye.
Older used cars are cheaper
This is no news. A typical $28,000 midsize new family sedan loses around $7,500 in its first year itself to depreciation. Over the next 4 years, it loses a further $6,000 cumulatively. Thus, when you buy that same 5-year-old sedan, you are actually paying 50% less than its initial MSRP which also reduces your interest premiums, tax rates, and other associated payments. This is why the top car lots in Greer, SC, see a high demand for 5 to 7-year-old vehicles. The lower price tag is too good to entirely ignore.
Older cars need more repairs
On the surface, you might think that you are taking home a great vehicle at a bargain price, but at that 5-year-old mark, you might have to change the car’s tires, replace the air and oil filter, service the engine and its cooling fluids, and/or flush the brake fluids.These do consume a few extra dollars and the expense will depend on how the car was previously maintained before it came to your ownership. And the older model you buy, the higher the drain you can expect. Along these lines, it is imperative that you pick only those used car dealerships in Greer, SC, who have a quality fleet in their lot. You can draw the maximum benefit from the lower price if you are buying a quality vehicle.
Reliability scores also matter
The best used car lots in Greer, SC, direct their customers to reliable older models that garnered top scores from rating companies like the J.D. Power. A high score means that the model is less likely to develop damages over the years and you will have to bear a proportionately lesser expense. Toyota has been consistently carrying the highest reliability ratings. Honda cars are doing good as well. Hover around these models when you go out to shop for older vehicles.