Posted Thursday, Nov 25, 2021
Apart from a home, buying a vehicle is one of the largest purchases a person can make. And it is one of the most important. It means reliable transportation to and from work, school, and social events.
But new cars are becoming more expensive, and this trend shows no signs of slowing. The average cost of a new vehicle is now almost $33,000, up more than $1,500 from just a year or so ago. This is where independent dealers like Gates preowned used cars come in.
If you are considering buying a used car, there are several reasons to do so. It can save you a lot of money and be a good investment. The trick is finding a reliable car and one that is of good value.
Keep reading to find out some tips on identifying quality cars and used trucks for sale in Wisconsin. Taking the right steps will give you the peace of mind that you saved a lot of money on a reliable vehicle.
There are a few big reasons to buy a used car. The most obvious is the lower total price. This means a smaller monthly payment and less paid in interest.
Another reason to buy used is that it’s a good investment. Everyone knows that new cars depreciate the minute you drive them off the lot.
It’s one of the reasons more people are turning to used cars: it reduces or even eliminates this dynamic. In short, you are minimizing the potential for depreciation by buying used.
Part of this has to do with vehicles lasting longer than they used to. Innovations in manufacturing and new technologies allow vehicles to keep running much longer than those made even 20 or 30 years ago.
Engines last longer; components don’t wear out as fast. The average lifespan of a car today is approaching 12 years, the highest ever; and you can expect to put over 200,000 miles on a vehicle today. This means that a car that is a few years old could have a decade or so of use.
When shopping for a used car, there are two main options: large dealerships and buying from individuals. There are several big disadvantages to each.
The good news is that there is a third option: buying from an independent retailer like Gates Auto. We’ll also go over the reasons why this is the best option for saving money and ensuring you’re getting a quality automobile.
The downside of buying a used car is that you may not know what you’re getting. You may be uncertain about the quality and that can be risky. The benefits of buying a cheaper car can be offset if you have to spend thousands of dollars on repairs.
The key is finding good quality used cars that have guarantees that protect you from any unforeseen defects. That is one reason people flock to big dealerships.
Unfortunately, many dealerships only focus on maximizing profit. They are not interested in matching you up with the right car but in making a sale. In other words, you will pay a premium for quality assurance.
If you are buying a car you found on Craigslist or Facebook Marketplace, there is no guarantee that it is actually in the advertised condition. If it turns out that major repairs are needed, there is no way of proving that the owner was aware of the defect. You are stuck with the responsibility of getting it running and the price tag for doing so.
This makes independent dealers like Gates preowned used cars a happy medium between the big dealerships and going out and trying to find a used car on your own. You won’t find any vehicles on our lot that have serious issues or need any immediate repairs.
Each of our preowned cars undergoes a 172-point inspection and comprehensive reconditioning process. They are all backed by two manufacturer warranties.
“Franchise dealerships” sell about half of all used vehicles. They have access to a large pool of vehicles. Also, since leasing is a big part of their business model, they will have a large number of newer models.
The downside is that you are still going to pay a premium in dealership markups. Certified pre-owned cars will cost thousands of dollars more than their uncertified counterparts. This makes it hard to find a good deal from a franchise dealership.
Also, large dealers rarely have cars older than a few years old. This limits your ability to find slightly older, lower-mileage cars from them.
Gates Auto has a fantastic relationship with the dealer community. It allows us to access a wide variety of vehicles so that we can select only the best quality used cars and pass that value along to our customers.
The standard car loan is moving more towards 72 months. This is because want to keep monthly payments down. That may sound great, but it means you will be paying thousands of dollars more interest over time.
Also, big dealerships will offer much better rates for new cars than used ones. This leaves you with the dilemma of paying more for a new car, saving on interest, or buying a used car at a much higher rate.
You will not face such a dilemma at Gates Auto. Since we specialize in used cars, we’re going to work with you to find the best loan rate for the car you want.
We can even get you prequalified before you step onto our lot. Fill out our online loan application, and you will know what kind of rates you’ll be looking at without even leaving your home.
Now that you have an idea of the advantages of buying a used car, you can find one to suit your driving needs and budget. It’s not only a great way to save money, and it’s a smart investment.
At Gates, preowned used cars are our specialty. We have an extensive inventory of quality used vehicles. Take a look at it online or reach out to us to schedule a test drive today.