It’s no secret that new cars begin losing their value the moment they’re sold and driven off the dealership’s lot — but did you know that a new car can lose up to 40% of its value within its first year on the road? For this reason — and a few others — more consumers have begun buying used cars when they need to replace a vehicle. For short description of the additional advantages of used cars, take a look at the points below:

1. More models to choose from. As long as you look for your next car from a certified used car dealership, you’ll find that you have many more options of used cars than you would with new car sales. In fact, because so many American consumers leased vehicles about two to three years ago — and those leases were generally two to three years long — dealerships are being flooded with pre owned cars.
   
   

2. Lower price tag. And guess what happens when a car dealership has too many cars on its lot that it needs to sell? Car prices start falling — and for used cars, which are already cheaper than new cars to begin with, the price difference can be very extreme. In fact, according to Cars.com, pre owned vehicles were about $20,000 cheaper than their new equivalents, on average, in 2014.
   
   

3. Flexible financing. Speaking of prices, financing a used car is definitely an important factor and a park for many consumers. Although people often state that it’s easier to finance new cars, you still have some good financing options for pre owned vehicles as well: most dealerships offer their own financing plans, but you can also go to a third-party bank or credit union for additional financing options (i.e., loans). Most dealerships automatically set pre owned vehicle financing plans with a maximum 60-month payment schedule, but you often have the ability to make your payments smaller by extending the plan beyond 60 months, or you can make the repayment shorter by increasing your payment amounts each month.

Ultimately, if you’re in the market for another car but you aren’t sure exactly what to get, don’t rule out a used car just yet!
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