Lower prices for used cars and other perks provide motivating reasons to buy a used car. For example, depreciation is a cost-saving factor because a new car can lose about 9% of it's value just driving it off the lot after a purchase.
Estimated depreciation of used cars in general is 19% after one year, and 60% after five years. Cars can lose value at a different rate depending on features, upgrades and consumer demand.
Used car buyers are discovering other money-saving benefits, such as, lower registration fees, license fees, and reduced insurance premiums on many used cars.
Rental cars make up a large portion of used car sales in the United States. Many of the cars go directly to auctions or to used car dealerships, but tens of thousands are selected by rental companies for resale.
These are often considered some of the best used cars on the market because they receive a high level of maintenance compared to the average privately owned vehicle.
Used cars that were once rentals can be one to three years old, with 20,000 to 30,000 miles on the odometer. Purchase incentives for these pre-owned cars may include certification by a licensed technician, a limited warranty, roadside assistance, or a re-purchase agreement.
As some consumers continue to downsize their budget, the benefits of buying used offer a compelling argument in favor of the frugal.
One example of a rental car company offering used cars: http://www.enterprisecarsales.com
