These 5 Used Car Myths Will Lose You Thousands!

Do not fall for these used car myths or you may lose a couple thousand dollars!

While a lot of us would like to get a brand new car, getting one secondhand may be a better bet for our wallet. However, a lot of us are kept back by all the used car myths we have heard over the years.

In the end, while many may not think that this is enough to deter a lot of us, many people are still skeptical about getting a used car due to a number of issues and problems they think it may have.

It may be that some of those used car myths are real, and some of them are not based on reality!

Some of the skeptics out there may think that it is all smoke and mirrors and that there’s no need to fall for used car myths, but in the long run, ignoring all of them may cost you thousands extra!

To make sure that you are in the know when it comes to whether or not to make the jump for a used car, we brought you some of the most important used car myths to stop and think about!

After all, while it may be a less expensive financial decision, a used car is still expensive, and you should know when you are making a sound financial decision and when you are not!

What do you think about used cars and the myths associated with them? Do you believe them? Were you ever proven wrong? Share your thoughts in the comments below!

Used car myth: Private sellers are always better than dealerships.

There are a ton of places where you can get yourself a used car, but in the long run, a lot of people end up going to a dealership. However, this means that you are missing out on private businesses that sell used cars and individual sellers!

It may seem like going to a dealership is the best choice since they have the most regulations and warranties, but in reality, none of the options are way better or way worse than others.

The issue when buying a used car is that you need to do your research thoroughly before you make a purchase and to make sure you check everything before making said purchase.

Dealerships, since they offer warranties, come with a sense of security that makes people think they are the best shot at getting a good used car. Yet, they are not always going to give you the best deal, and just because of the warranty, it does not mean you are getting a foolproof deal.

Private businesses and sellers have the same chances of offering you a well-maintained car for competitive prices, and it is up to you to decide which option is the best one for you.

The key to everything is doing your due diligence; you should make sure that the car goes through a pre-purchase inspection and that you research any history the vehicle may have, no matter who is selling it to you.

If you decide to go for a used car, make sure that you check the person or business you plan to buy from, check the reviews and reputation online, and compare all the features they may offer.

Some places may even offer free or reduced check-ups, extended warranties, and even family maintenance plans together with the vehicle!

Used car myth: The lower the mileage the better the deal.

If you want to buy a used vehicle, one of the first things to check is the mileage it comes with. In general, the older the model, the higher the mileage. With newer cars, the mileage will be lower, and it is overall believed that the lower the mileage, the better the deal!

However, it is not as simple as it may appear.

While low mileage is appealing, it does not translate to a problem-free car. Sometimes low mileage means that the car has been sitting for a while and depending on whether or not the car has been properly stored; this can translate into issues in the long run.

Likewise, to play devil’s advocate, it may have low mileage because there is some underlying issue with the car that you will discover only after you have bought the car.

This is why you should always ensure any second-hand car you buy is thoroughly inspected so that you can discover any problems before they arise.

What’s more, besides the pre-purchase inspection that you should have done on any used car, you should also do your due diligence and read about the brand and model you are buying.

Find out if the model has had any recalls, what other drivers believe about the car, and what issues have appeared since it came on the market.

That way you can know what to look for and also make an informed decision as to whether or not this low-mileage car is actually the deal of a lifetime or if it is going to lose you thousands in the years to come.

Used car myth: You won’t get a discount on a used car.

A used car is already discounted by virtue of having been used and not getting it brand new, so why would there be any discounts associated with them?

This is a true urban car myth, as there are dealerships and even private sellers who will end up offering discounts on their inventory, and this will definitely include the likes of used cars!

Not to mention, there are also a lot of businesses that deal with selling used cars that end up having better deals in the online sphere than in person. This is not a given, but at times you may find a better deal by shopping online than you would if you shopped in person.

Likewise, there are shops that end up listing their special deals on their dedicated websites before they bring them in, so it is always good to check out the websites too before you go to the physical stores.

If you want to get to know more about cars and understand them better, the TV show Top Gear is the best choice for you. 

Used car myth: There’s no resale value to used cars.

This is one of the biggest misconceptions about used cars that ends up creating a lot of issues; it convinces a lot of owners that they should not go for a better deal on a used but good car since they will not be able to know the true worth of the car.

In reality, preowned cars retain significant value even when they are in their second or even third ownership. Think about it like this: cars end up depreciating in value the second they leave the place where they have been bought.

There is no reason not to go for a slightly used car that has a great price and meets all your expectations just because it is second-hand. If it already was in great condition and you take good care of the car, you can end up selling your used vehicle when you want to upgrade.

Sure, you will not get as much as you paid for it when you initially bought it, but you will be able to recoup some of your money and use it for the next one.

You can always base your used vehicle price on the MSRP (manufacturer’s suggested retail price) and then adapt it to the condition and age of the car, or you can also contrast it with what other people and dealerships are offering for the same car.

Used car myth: You can forego a separate inspection.

Many people end up foregoing a separate inspection after they have bought a used vehicle, especially if the dealership they are buying from has recently conducted one.

However, this should not mean that you are not going to do any sort of inspection, which is where this myth gets a lot of the people, and it ends up costing them thousands down the line.

You should always have the car undergo a pre-purchase inspection so you can make sure that you are not going to buy a car that is defective or that has some hidden issues.

This is extremely important if you are getting the car from a private seller or an individual that you are not familiar with or there is not much to be said about their reputation.

The professional may end up pointing out any repairs you will have to do if you buy the car and sometimes may even advise you if it is a good or bad decision. Sure, this inspection is going to cost you, but in the long run, it can end up saving you thousands!

There are a ton of used car myths floating around, and you may be losing the chance to get an amazing, albeit used car, if you listen to them all. Sometimes that used car is better than a new model! If you want to see which used cars are definitely better than the new generation of vehicles, check out this article!