Buying a used car is one of the smartest financial decisions you can make. You pay less for the automobile and avoid the depreciation that new-car buyers face the moment the vehicle rolls off the dealer's lot. Buying used has a number of other advantages as well. You will pay less for registration and insurance. Also, the margin for a discount may be greater when you buy a pre-owned automobile. And if you purchase the vehicle from a private party, you will likely get an even better price than you would at a dealership.
A certified pre-owned or CPO car has been inspected to meet minimum quality standards and typically includes some type of warranty. While dealers and third parties certify cars, the gold standard is an automaker-certified vehicle that provides a factory-backed warranty, often extending the original coverage. Vehicles must be in excellent condition and have low miles and wear to be certified, which is why off-lease vehicles feed many CPO programs.
Once the internet manager or salesperson arrives at your home (if that's where you're taking delivery), review the contract. You don't have to read the whole thing, but do pay attention to such important details as the APR, total sale price, length of the contract, down payment, documentation fee and registration fees. Make sure your personal information is correct.
Though based on the existing Lexus IS, which debuted for the 2014 model year, you’d need to look closely at the 2021 Lexus IS in order to tell. It’s more obvious on the inside, and the car is basically identical when it comes to powertrains. But Lexus swears it has fine-tuned the ride and handling to make this the most fun-to-drive IS ever. Well, except perhaps for the IS F.
Once you find the car you want, you'll want to move fast so it isn't sold out from under you. So it's a good idea to get your financing set up before you begin searching for your car. If you're paying cash, there is little to do except make sure you have the funds available to withdraw cash or get a cashier's check when it's time to do the deal. If you're paying all cash for a used car from a private party, consider doing the deal in a public place.
Cons: While buying new might be the most satisfying way to buy a car, it's also the most expensive. Some cars depreciate faster than others, but no matter what you're buying, your new car is going to experience depreciation the minute you drive it off the lot. That's not to say buying a new car isn't a good value, but it's a financial hit you should keep in mind if you're shopping for a new car. Consider doing a little homework on the depreciation rate of the car you have your eye on before pulling the trigger.