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Prices & Economy Drive Demand for Used Cars

Consumers continue to see the cost saving benefits of buying used cars.

 
PRLog - Oct. 11, 2012 - The demand for used cars remains high as consumers continue to look for ways of cutting back on personal expenses in the face of a still sluggish economy.

Used car prices have been declining recently, plus there can be other cost saving benefits to buying a used car, such as depreciating car values, which can cause a brand new car to lose about 9% of it's value just driving out of the dealership after a purchase.

In general, the estimated depreciation of used cars is up to 19% of value after one year, and up to 60% after five years of ownership. Different cars lose value at different rates depending on consumer demand, vehicle features and specific upgrades.  

There are other cost-saving benefits for buying a used car, which can include lower vehicle registration fees, vehicle license fees, and reduced insurance premiums offered on a variety of used cars.

Many consumers are not aware that rental cars account for a large percentage of used car sales in the United States. Post-rental cars can go directly to vehicle auctions or can be purchased by car dealerships. Thousands of these used cars are selected by rental companies themselves for resale to the public.

These used cars are often considered to be some of the best on the market since they receive more regular maintenance compared to most privately owned resale cars.

The typical used rental car for sale can be one to three years old, with an average about 25,000 miles on the odometer. Quality and cost-saving incentives for these used cars can include certification by a licensed technician, a power-train warranty, roadside assistance, or an offer to buy back the vehicle if dissatisfied.

The benefits of buying a used car can be compelling, especially when backed a reputable company.

An example of a rental car company offering used cars, including special offers: http://www.enterprisecarsales.com/usedcars

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Source:10TH Degree
City/Town:Lake Forest - California - United States
Industry:Used cars
Tags:cars, used cars
Shortcut:prlog.org/11997419
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