Meadowlands Used Cars: 7 Common Misconceptions About Used Cars

August 25th, 2017 by

Broken, old, wear and tear, rusted, cheap… Many associate Meadowlands used cars with these words. We often think about a sketchy auto scam on Craigslist or an ’87 pickup truck with a 100-plus mileage compared to the shiny, sleek new cars we see in TV advertisements. Then again, who doesn’t enjoy driving out of the dealership lot in a new Toyota Camry with that new car smell?

The truth is, while new cars do come with updated, safety amenities and dealerships normally offer more extensive deals on leases and warranties, there are several misconceptions about used cars that steer (no pun intended) car buyers away.

Learn what they are and why you don’t have to break the bank when it comes to buying a used car. That being said, Meadowlands used cars presents you…

7 Common Misconceptions About Used Cars

  1. They won’t run as efficiently as new cars

Let’s face it, new car advocates claim there’s a reason why new cars are more expensive than used cars. Yes, with new cars, you don’t have to worry about the auto history. But, here’s a secret: prior accidents and high mileage aside, if we compare a new car of the same make and model with a 1-2 year used car, chances are, you’re looking at a very similar vehicle.  And, when it comes to Toyotas, since they’re made to last hundreds of thousands of miles, a few thousand more miles compared to no miles won’t make much of a difference. In fact, as long as Carfax shows a clean history and the car passes inspection, a used car is just as efficient as a new car. The only big difference would be the price point.

  1. Used cars will break down faster

Similar to misconception #1, some assume a little wear and tear entails several roadside assistance calls and weekend trips to the mechanic. However, this couldn’t be further from the truth. Know that, despite the newness of the car as well as the make and model, new and used cars require regular maintenance checkups: oil changes and tire rotations…[1] Before long road trips and every 6-12 months, it’s important to get your car serviced. Like we said earlier, of course if the used car has an odometer reading of 150 plus miles and has a history filled with multiple car accidents, it’s probably going to run differently than a new car just off the lot.

However, that type of used car isn’t the only option car buyers have. In fact, car buyers can purchase certified pre-owned (CPO) cars, which have passed extensive inspection and met manufacturer’s rigorous standards. Other than CPO cars having a lower price versus new cars, there really isn’t that much of a difference. With proper maintenance, your car shouldn’t start to break down until it’s approaching 150,000 miles, maybe even 200,000.

  1. They are a rip-off

A lot of times, we believe that more expensive means better. Cheaper implies poor quality. Especially for those who are new used car buyers, it’s easy to believe you’re not getting that great of a deal. But this is not the case. In fact, it’s the opposite. Since the price for a used car is cheaper than a new car, your insurance rate will be a lot lower. With insurance rates skyrocketing around $105-$193 per month[2] (for those who live in New Jersey, are good drivers, and have great credit), used cars can help bring the price down. Also, your car renewal will be cheaper from the get-go versus with a new car. And…it will keep on decreasing annually.

Plus, factor in depreciation. Depreciation is the value of an item as time goes by. With cars, that time is fast…as in one minute fast. As soon as you drive off the lot, your car can depreciate as much as 30% of its original value.[3] So, a $50,000-car, once off the lot, is now worth $35,000. Even if you decided on selling the car back to the dealership within a minute of buying the car, you’re still looking at a sizeable price difference. With used cars, since they’re cheaper, they won’t depreciate as much. In fact, you could even make the argument that once you drive off the lot with your new car, your new car is now used. Which brings up the irony when people assume used cars are old vehicles that have suffered much wear and tear.

  1. New-Car Shopping is a Cake Walk

Walking in a new car lot and hearing about the latest technological and safety features,[4] you aren’t thinking about the auto history. Or if the car is scratched… or if there’s soda stains on the passenger seat. In other words, it would seem like it’s easier to peruse the new cars than search for a reliable used car. And to some extent, we agree. However, remember what we were saying about the price depreciation difference between a new and used car? That’s the give and take. Yes, it’s easier to find a new car but it costs a lot more. Versus a used car, which is worth the wait. Plus, you can improve your search by browsing used car lots at dealerships. Compared to private parties, dealerships tend to be more reputable. They should also be able to easily provide you with the auto history, when asked.

  1. You’ll Get Scammed If You Buy a Used Car

If you do your research, that shouldn’t be the case. Meadowland used cars recommends that you first do a brief search for used cars. This could be done on the computer or at a dealership. You’ll want to know the price and vehicle identification number (VIN). Search the car on Kelly Blue Book. That way, you can see what the price should be around. You’ll also want to shop around and see if other cars of the same make and model are priced around that figure. If there’s a large price discrepancy, ask the dealership or private party why that is. And, depending on their response, you may want to continue inquiring about the car or shop around.

Also, make sure you always test drive the car. Of course, if the party is apprehensive about you going for a test drive, this may be a red flag. When you are test-driving the car, check if the brakes squeak, blinkers work, windows roll up, radio turns on and off. Basically, you want to interact with the car as much as possible to get a sense if it needs some minor fixes or major ones. Even if you think the car is fine, you’ll want to have an experienced mechanic inspect the car. Only after passing inspection can you know for sure that you’re not being scammed and that the used car is legitimate. So, long story short, doing the research and taking precautions ensures used car buyers won’t run into scams.

  1. You Can’t Get the Latest Model

Used cars are years older than new cars…so they say. But remember what we said? As long as they’ve had a previous owner, a used car is a used car. So, a used car could still only be months old. Which means you still can enjoy all of the updated technological features that are the same as a new car.

  1. There are no deals with used cars

Since used cars are already marked down, many believe there are no used car sales. That’s only reserved for new cars. Again, not true. In fact, East Coast Toyota is running a used car sale. Check out our used car specials before the sale runs out.

Final Thoughts

Used cars are just as good as new cars; there’s simply just several misconceptions about them. By learning about these misconceptions, you’ll become a more conscious car buyer and can take advantage of the steep price difference between new and used.

Remember though to do your research and have a reliable mechanic inspect the car. Also, consider CPO cars if you desire a car with low mileage and that meet manufacture’s strict standards. If you have any comments or questions, contact East Coast Toyota!

Summary

  • Used cars are often thought of as suffering from wear and tear. But, with many, that couldn’t be further from the truth
  • While new cars have steeper price tags, used cars don’t depreciate as much as them
  • In fact, cars can depreciate as much as 30% when driven off the lot
  • Used cars also won’t break down more compared to new cars. Like with any car though, you’ll need to get it serviced at least every 6-12 months
  • With used cars, you’ll receive a lower car renewal and car insurance rate
  • While it’s easier to find a new car, the steep price difference is worth the search for a used car
  • Do your research and you won’t get scammed with a used car
  • There are sales for used cars

What other misconceptions are there between used and new cars? Leave a comment below!

[1] Nerdwallet: Compare the Costs: Buying a New Car vs. Used

[2] Nerdwallet: How to Estimate Car Insurance Before Buying a Car

[3] Nerdwallet: Compare the Costs: Buying a New Car vs. Used

[4] US News: New Cars Vs. Used Cars

Posted in Used Cars