Disadvantages of purchasing used vehicles include increased maintenance costs, unknown car history, fewer safety and luxury features, fewer financing options and potentially lower fuel efficiency. A used car may not come with a warranty depending on where it is purchased.Continue Reading
Used vehicles may not come with features the consumer wants, and certain features may not be available at all on older models. Used vehicles may also lack new safety features that new models have.
Having a mechanic inspect the vehicle adds to the cost of purchasing a used vehicle. Consumers can purchase vehicle reports on a used car, but such reports are not always fully accurate.
Certified used vehicles that come from a dealership often come with a limited warranty. Others offer the option of purchasing a warranty. The warranty on a used vehicle may not cover as much as a warranty on a new vehicle. Even with a warranty, a used vehicle may require maintenance such as new tires or tune-ups sooner than a new vehicle.
Financing on used cars is also different than financing for new cars. A loan for a new car purchase often has a lower interest rate than a loan for a used vehicle purchase.Learn more about Buying & Selling