After the Great Recession, most Americans are much more price-conscious when shopping for a car or truck. Many consumers are opting to buy used cars instead of buying new. There are several good reasons to consider buying a used car, including ample selection and the improving reliability of older cars. But for most people, the main attraction for buying used is still affordability.

Used Cars Shreveport

Save Money at Blakey Auto Plex

Save money on the front end

There’s no question that buying a new vehicle is more expensive than buying a used one. In fact, in recent years the price spread between new and used is widening. Looking at the dollar figure alone, you’re going to save money buying used. But you also have to consider your initial investment on the front end. Unless you decide to lease, your initial costs on a new car will be hefty. Banks and credit unions typically require down payments of around 10 percent on a new car loan, but it helps to add more. If you pay less money up-front, your monthly payment will be higher.

Avoid Depreciation

Depreciation is an absolute value-killer. Once you drive your new car off the dealership lot, its value will drop immediately. Many people become “upside-down” immediately – they put down a minimum down payment, and when they drive off the lot, the immediate depreciation causes them to owe more on the vehicle than it’s actually worth. On mainstream vehicles, depreciation will cause your new car to lose at least 30 percent of its value in the first two years of ownership.

Certification Programs

Another trend that makes buying used a better option is the proliferation of certified pre-owned programs. The idea started with luxury brands such as Lexus and Mercedes-Benz. Today, most manufacturers have instituted these programs.

General benefits of CPO cars include:

  • Manufacturers usually consider only late-model, relatively low-mileage used cars and trucks with no history of major damage for their certification programs.
  • CPO vehicles undergo a rigid inspection process of mechanical and cosmetic items before they obtain certification.
  • CPO vehicles are normally covered by a warranty that extends beyond the original factory warranty. The warranty often includes the same features as a new-vehicle warranty, such as roadside assistance.
  • Several manufacturers offer special financing on CPO vehicles, usually at lower rates than those on new-car loans or the typical, higher used-car loan rates.

You should be aware that you might pay more for a CPO car than for a regular used car, but the higher price may be worth it for the extra coverage and the peace of mind you receive.

At Blakey Auto Plex, we’ve worked hard to build a reputation for high quality luxury used cars backed by extraordinary service. We’re the premiere location for used cars in Bossier City and the entire Shreveport Bossier City area. We offer several extended warranty packages to protect your car for years to come, and we’ll do our best to get you the best financing rates available. Please don’t hesitate to call us if you have a question about buying a pre-owned car – our knowledgeable staff is here to help you through every step of the purchase.