6 Mind-boggling Facts Of the Used Car Market

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6 Mind-boggling Facts Of the Used Car Market
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Introduction

• At some point in your history of buying cars you
  are sure to have considered buying a used car. In
  the majority of cases you will have purchased a
  used car because of the lower costs. Now more
  than at any time purchasing a used car is an
  option being taken by consumers. The used car
  business is booming right now. Take a look at
  these 6 key facts before shopping for a used car.

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1. Used car trades dominate the automobile market

• You probably think that this isnt right because
  all you see on TV are commercials of new upcoming
  models ranging from a sedan to a SUV. However, it
  is correct and the used car market is around 3
  times larger than the new car market.

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2. Certified pre-owned (CPO) cars are hot

• CPO cars stand out from regular used cars in the
  way that they are inspected,
• refurbished and certified by a certifying
  authority. CPO cars provide great deals to the
  customer. Detailed inspections before purchase
  and manufacturer warranties are key benefits.
  Naturally they sell well.

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3. An average used car goes through 3 owners

• Most used cars dont have just a single owner.
  Most used cars have a minimum of 3 owners and
  many of the owners dont have the maintenance
  history for the car.

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4. Used fleet cars usually encounter more
accidents

• Used fleet vehicles are those previously owned by
  businesses and it is recognised that these cars
  tend to have been involved in more accidents than
  privately owned vehicles. Always opt for an
  independent thorough inspection.

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5. Odometer fraud is still prevalent

• Many vehicles have analog odometers and the
• mileage can easily be altered to increase the
  value of the vehicle. Even with digital
  technology odometer discrepancies are still quite
  common today.

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6. 3rd Party extended warranties can be illicit

• The offer of extended warranties is a lucrative
  business, particularly when used cars are
  involved. Should you opt for an extended
  warranty?
• If the warranty is provided by a 3rd party and
  not the OEM we would question its value.

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Created By

• www.premier-plates.co.uk