Why Shopping for a Used Car Could be a Better Investment

Buick Encore

Given the high prices of vehicles these days, shopping for a new one is like making an investment that lasts for several years. At the Glockner Family of Dealerships in Southern Ohio, we offer a diverse selection of new and used cars. While buying a new vehicle has advantages like warranties and the latest tech, used cars could be a better investment for these reasons:

Used Cars Offer Lower Prices

As of September 2021, Kelley Blue Book put the average price of a new car at $45,031. In contrast, the average cost for a used car sits at $25,000. If you're searching for used trucks for sale, then opting for older vehicles with more miles, you pay even less.

The lower cost of used vehicles translates to lower monthly payments, less interest paid, and lower fees for taxes, licenses, and registration. Insurance rates will be lower because it's cheaper to repair or replace than a newer one.

Minimal Depreciation

A new vehicle loses as much as 20% of its value when you drive off the lot and another 10% after the first year. Though your car lost 30% of its value, you'll still owe the entire amount on any auto loan you took.

With this mismatch in value, it can put your loan in jeopardy. If your vehicle is totaled and needs a replacement, you'll get 30% less from the insurance company or outright selling. Meaning your compensation won't be enough to pay off your loan.

You can combat this by purchasing a used vehicle, as the previous owner took the depreciation hit. If you sell the car or get compensation after it's totaled, you'll get close to what you financed and can pay off the loan.

Hours

  • Monday 9:00am - 6:00pm
  • Tuesday 9:00am - 6:00pm
  • Wednesday 9:00am - 6:00pm
  • Thursday 9:00am - 6:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 9:00am - 5:00pm
  • Sunday Closed

Contact

Glockner Family of Dealerships

2901 US Highway 23
Directions Suite A
Portsmouth, OH 45662

  • Sales: 740-286-1160
  • Service: 740-353-2161
  • Parts: 740-353-2161

Better Model Selection

The lower price point of used cars means you may afford a higher trim with more accessories or even a better model. With certain trims and models often dropped with new releases, your search for "new Jeep Wrangler" may turn to "used Jeep Wrangler for sale near me."

Currently, chip shortages affect the availability of new cars. As the shortage continues, you may have to order your vehicle and wait several weeks to drive it. Choosing used cars allows you to see what you're buying and eliminates the need for waiting.

Used Cars Can Offer More Reliability

In the past, buying pre-owned was fraught with peril. You knew nothing about previous owners and less about the car you're buying.

Nowadays, Carfax presents information, including how many previous owners, how many accidents, and what maintenance it's had. Many used cars are still under warranty, meaning you can take advantage of free repairs and covered parts, and some have 24/7 roadside assistance.

If reliability is still a concern, consider buying certified pre-owned. Certified pre-owned means the car is younger than a specified number of years and went through several inspections to meet high performance, safety, and quality standards. Some dealers may throw in a basic limited warranty, courtesy transportation, a vehicle exchange program, or a powertrain warranty.

Considering these factors, stop scouring the web for "used car lots for Chillicothe, Ohio," and stop by your local Glockner Family of dealerships. Check out our inventory of savvy and affordable vehicles that fit any budget.

Some of Our Favorite Used Cars at Glockner

 

Pre-owned 2018 Honda CR-V in Portsmouth, OH

Located at our Portsmouth, OH Chrysler Dodge Jeep RAM Dealership, this lightly used 2018 Honda CR-V is a great option for anyone looking for a versatile SUV. With 27 mpg in the city and 33 on the highway, this fuel-efficient SUV would be great for any family.

 

Used 2021 RAM 1500 Limited in Portsmouth, OH

Also located in Portsmouth, OH at Glockner Chrysler Dodge Jeep RAM of Portsmouth, this pre-owned 2021 RAM 1500 Limited Truck Crew Cab 4x4 model is the perfect truck for any Portsmouth or Chillicothe, OH area driver.

 

Certified Pre-Owned 2021 Toyota Camry in Portsmouth, OH

For the ultimate family sedan, check out this certified pre-owned 2021 Toyota Camry, located at Glockner Honda in Portsmouth, OH. With seating for 5 and great fuel economy, any family in the Chillicothe, OH area would love this sedan.

 

Pre-owned 2022 Chevrolet Silverado 1500 in South Point, OH

For those looking for a powerful truck, this used 2022 Chevy Silverado 1500 is an easy choice. This Silverado 1500, located in South Point, OH at Glockner South Point Ford, offers drivers a V-8 engine, low miles, and impressive features.

To see these used cars, and even more, visit any of our Glockner Family of Dealership locations today!