Published on : 04 September 20192 min reading time
Many people prefer to buy only new cars because they don’t think that they want a car that other people have used. However, this current financial climate is providing people who buy pre owned cars with some amazing bargains on cars that they otherwise would not be able to afford. Many of these cars are only a year or two old but the people who bought them when times were good can no longer afford them when times are bad. This makes sense because it is true of cars, homes, and anything else that people buy and make payments on. They don’t have any problem with these kinds of things when they are making plenty of money, but they live beyond their means because they don’t stop to think about the fact that the money they’re making might go away. No one really foresees the kinds of economic problems that have happened recently, and that’s obviously a problem because no one is ready when these types of things take place.
For the people who still have good credit and who aren’t overextended, now is the time to go to the car dealers and see what they have, because they will have taken in many cars that people can’t afford. Just last year the car might have cost twice as much as it does today, and the mileage on it still isn’t very much. There are definitely discounts on new cars, but pre owned cars and trucks are where the largest savings opportunities are. This is due to the fact that the depreciation has already been taken on them, so they cost less than new ones anyway, and then the dealer slashes the price even further because he knows that people just aren’t buying cars right now.
This is true in the UK, it’s true in France, and it’s true in many other countries throughout Europe as well as the US. There are so many pre owned cars and trucks out there today that the market is just flooded with them, and the prices are so low that dealers are competing with one another and basically losing money just to get these kinds of vehicles off of their lots. That can make for some very worthwhile bargains for someone who is patient and knows how to negotiate.