Shopping For A Vehicle That's New To You

Keep Your Options Open

​If you’re going to buy a new car, don’t restrict yourself to one that is “factory” new. Just because it’s a pre-owned or “used” vehicle doesn’t mean it isn’t “new”. It’s “new” to you, right? In the automobile industry, there’s a lot of literal and metaphorical mileage you can get out of a vehicle. Financing a new one may not be as wise as buying used outright. 
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It all depends on your particular situation. What makes the most sense is to determine your budget beforehand, then search a broad variety of listings to find something which fits that budget. Look, don’t be too sure you won’t find a screaming deal. RVs can be bought for a few thousand dollars. They’ll be falling apart, but what do you need the vehicle for?

The Sweet Spot

​A pre-owned or used vehicle can be a screaming deal with 200,000 miles and fifteen years at $1,500. The annual cost of ownership on a vehicle will be about $3,000, if you own it outright. Accordingly, if you can make a $1,500 vehicle last you a year, you’ve gotten more value than paying $5,000 for a better vehicle owing to basic ownership costs. 

With a $5,000 vehicle, you’d need it to work for you at least three years to get your money back. The sweet spot on buying a pre-owned vehicle used to be about $5k and somewhere between 30k and 100k miles. 

Today that sweet spot is around about the same mileage, but with inflation, you’re looking at an ideal cost around $7,500. Much higher than $15k for a used vehicle, and you might as well buy new.

Also, consider the make and model. An older vehicle may be a steal if it’s in good condition. A newer one may be a bad buy if it’s got a hidden issue like a perniciously slipping transmission.

Consider Pre-Owned Dealers And Private Sellers

​Car dealers who sell pre-owned vehicles generally have to sell them at a minor markup to what you would pay if you were purchasing from a private seller, but not always. Used car dealers commonly haunt police auctions where the vehicles of criminals are sold at cut-rate prices. They’ll buy the vehicle, fix it up, and sell it for more than they bought if for. 

A savvy pre-owned dealer can make a hefty chunk of change selling a vehicle for less than Blue Book value. So you can sometimes get a better deal at a pre-owned dealer than through a private owner. But it all depends on the vehicle, the seller, the dealer, and your budget. So be sure to explore all options for best results. 

Local Periodicals

​Lastly, peruse local periodicals like Anybody’s Autos. A lot of people don’t list online, and there are even some used car outlets who have yet to make the digital transition. You’ll miss deals if you ignore local print publications. 
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So keep your options open, aim for the “sweet spot”, look at private sellers, pre-owned dealers, and local print periodicals. Go this route, and you’ll get the best possible deal within your budget. For more tips, tricks, advice, and trends, be sure to subscribe to our blog.