PITTSBURGH (KDKA) – These days, many people looking for ways to save on big-ticket items are passing on new cars and buying used.
It is not the gamble it used to be if you do your homework.
In fact, Consumer Reports said buying a used car can be one of the best ways to save a big chunk of money.
We all know that the value of a new car plummets the moment it leaves the showroom. So, many car buyers are turning to used cars.
“It’ll last for another 10 years, almost as long as a brand new car and save $17,000,” Israel Camacho said.
“Buying a late-model, low-mileage used car can be a smart move. It can cost as much as 45 percent less than the same car was when new, yet still have most or all the features you’re looking for and still have years of life left in it,” Jon Linkov from Consumer Reports said.
Consumer Reports said if you’re buying a used car, get ready to do some research. As you narrow down your choices, be sure to factor in a vehicle’s reliability.
You’ll need your mechanic to inspect the car, as the vehicle history report doesn’t always pick up everything such as accidents.
You’ll probably need to leave a deposit with the seller and expect to pay around $100 for the inspection.
But, what about certified pre-owned cars?
Consumer Reports said the extra cost may not be worth it, especially if you have done a good job of picking a reliable car.