Let’s Bust 4 Common Used Car Buying Myths!

The used car market is a tricky place. It's full of conflicting advice and opinions from people who don't know what they're talking about, which can make it difficult to learn the truth. In this blog post, we'll bust four myths that you might have heard about buying a used car.

Myth # 1: Used Cars Don't Have Resale Value

One of the most common myths about used cars is that they don't have any resale value. This isn't true – in fact, a used car will often resell for quite a bit more than it did when it was first purchased. Of course, this varies depending on the make and model of the car and its age and mileage. But in general, well-maintained used cars tend to retain their value much better than new cars do.

This is because when a person gets a new car, they are essentially paying for the car's depreciation – that is, the decrease in value that the car experiences as it ages. On the other hand, a used car has already undergone depreciation, so the person buying it is only paying for what's left of that initial drop in value.

Myth # 2: Used Cars Aren't Fuel Efficient

Another common myth about used cars is that they are not fuel-efficient. This might be true in some cases, but finding a great used car with excellent gas mileage is also possible. Most modern vehicles give their best fuel efficiency when driven between 50 and 70 miles per hour, so the most important factor in determining how much you will spend on gas is the model of car that you choose.

If you need a used car that is fuel-efficient, consider choosing a smaller model or one with an automatic transmission. You can also save on gas by opting for a hybrid or electric car.

Myth # 3: You Need to Buy an Extended Warranty for Used Cars

In general, an extended warranty is only a good idea if the car you are buying has a high likelihood of needing expensive repairs soon. For most used cars, this is not the case. Unless something is visibly wrong with the vehicle or you know it needs major repairs, you can probably skip the extended warranty and save your money for some other purpose.

An extended warranty has its merits, but it's an unnecessary expense for most people looking to buy a used car that has been well-maintained.

Myth # 4: You'll Get the Best Price Online

Many people believe that they can get the best price for a used car online. While this is sometimes true, it's not always the case. In fact, you may end up paying more money than if you had bought the car from a dealer in your area.

This is because dealers often have access to cars that are not available online. They also have relationships with other dealers and can get a better price for the vehicle you're looking for.