Buying a used car can save you money, but falling for common myths might end up costing you more than you expect. Understanding the truth about these myths can help you navigate the used car market with confidence, avoid unnecessary expenses, and get the best value for your money. Knowing what to believe and what to ignore is key to making a smart purchase.
1. Older Cars are Less Safe
It’s a common belief that newer cars are inherently safer due to advancements in safety technology. However, many older cars are still quite safe and meet or exceed safety standards at the time of their manufacture. It’s important to look at the car’s safety features and crash test ratings, not just its age.
2. Cash Payments Lead to Better Deals
This one is tricky. While some sellers might prefer cash, it doesn’t always guarantee a better deal. Financing options can sometimes open doors to negotiations that cash can’t.
3. High Mileage Equals High Risk
Believe it or not, high mileage isn’t the death knell for cars. According to a 2020 study by J.D. Power, vehicles with higher mileage often have fewer problems due to consistent usage and maintenance.
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4. Manual Transmissions are Always Cheaper to Repair
While it’s true that manual transmissions have historically been cheaper to repair and maintain than automatics, the gap has narrowed with modern advancements. Today’s automatic transmissions are more reliable, and their repair costs have decreased, while parts and labor for manual transmissions can sometimes be more expensive due to less commonality and fewer specialists.
5. Dealerships are Always More Expensive
Dealerships sometimes offer warranties and certified pre-owned programs, adding value to your purchase. Plus, they can’t afford the reputational damage of selling a dud.
6. Extended Warranties are a Waste
For some high-maintenance models, an extended warranty can be a lifesaver. A study by U.S. News & World Report suggests that an extended warranty might save you money in the long run for certain brands known for reliability issues.
7. Accident Cars are a No-Go
A car that’s been in a fender bender isn’t automatically a bad choice. Some accident cars, if repaired properly, can be just as reliable as their accident-free counterparts. The key is a thorough inspection and a good repair history.
8. Avoid Discontinued Models
Just because a model is discontinued doesn’t mean it’s undesirable. Often, these cars offer great value and are still supported by the manufacturer.
9. You Can Judge a Car by Its Exterior
A shiny exterior doesn’t always signify a healthy interior. Always check under the hood and consider a mechanical inspection.
10. Certified Pre-Owned Cars are Overpriced
Not necessarily. These cars often come with extended warranties and have gone through rigorous inspections, which can offer peace of mind.
11. Avoid High-Maintenance Brands
While some brands are known for higher maintenance costs, this doesn’t mean you should avoid them entirely. Sometimes, the driving experience and satisfaction they offer can outweigh the maintenance costs.
12. Newer is Always Better
A 2018 study by Consumer Reports revealed that many used cars are as reliable as new ones. Sometimes, a well-maintained 5-year-old car can outshine a brand new, but lower-tier model. So, don’t just go by the year; go by the car’s condition and history.
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