Don't Overlook These Two Issues When Purchasing A Used Vehicle

13 February 2019
 Categories: , Blog


When it comes to used vehicles, people mostly concern themselves with making sure the car or truck doesn't need a lot of repairs and that they can get a good price. Although those are important issues, here are two things you should also look at to ensure the vehicle is the best fit for your needs and goals.

Value Retention

Buying a used car you plan to drive until the wheels fall off is perfectly good strategy. After all, vehicles decline in value to longer they are driven, so you may as well extract as much use out of the car as you can. If you plan on trading the vehicle in for another or selling it in the future, then you should research how well various models retain their value and purchase a used car that will help you get the most money when you are done with it.

For example, many Lexus vehicles retain about 42.2 percent of their value after five years of ownership. So, a five-year-old Lexus that was worth $30,000 brand new would be worth about $17,340, which represents a pretty hefty down payment on another vehicle if the loan was paid off during that time period. In comparison, a Honda Accord only retains about 34.5 percent of its value.

The Kelly Blue Book website can be immensely helpful in figuring out how much vehicles are worth after a period of time, so take full advantage of it to get an idea of the types of used cars you should be shopping for.

Upgrade Costs

Newer vehicles tend to have all the latest gadgetry, such as GPS and USB ports to connect compatible devices. Although many of these items can be installed in older used cars and trucks, it may cost you a bit of money to do the upgrade.

The exact cost of the upgrade will vary depending on the vehicle's age and the types of features that are already installed. For instance, it may be relatively cheap to convert an existing cigarette lighter into a USB port. However, if the vehicle doesn't have a cigarette lighter, the USB port will have to be installed from scratch, which may require a major reworking of the vehicle's electrical system.

Consider the types of features you want in your used car and how much it will cost to upgrade the vehicle of your choice if it doesn't come with them, then make your choice accordingly.

For more tips on purchasing a used car, such as a used Lexus GS 350, contact a local dealership.