Here are the top 5 most compelling reasons to buy a used car rather than a new car:

1. Used Cars Are Cheaper

Used Cars are much cheaper than their newer counterparts. And not simply because they are older, a 2009 used car will cost thousands less than a new 2009 car. Read our article How To Save Thousands By Buying Used Car At Auction

2. Used Cars Hold Their Value Better

If you buy a used car today and sell it in a year you will most likely be able to sell it for nearly what you paid for it. On the other hand if you by a new car and sell it in a year you will be out thousands of dollars.

3. Used Cars Are Greener

Hybrids are huge right now, partly because they are perceived as being eco-friendly, however the carbon footprint of building a Prius is so large that if you bought a huge gas guzzling Ford-150 truck used and drove it around for 4 years you would still have a smaller carbon footprint than the guy you who bought the new Prius. It’s a lot like recycling.

4. Insurance Costs of Used Cars

Insurance premiums are lower on used cars because the full value of the car is often lower. Which means that regardless of what your driving history looks like, you will save a considerable amount on your insurance buying a used car compared to a new car.

5. OEM Parts

If you buy a used car older than 5 years, especially for popular models, there is a whole industry devoted to creating cheaper replacement parts for your cars. In many cases these the exact same parts that were used in the new car but do not carry car-makers logo. This is because the car-makers outsource the manufacturing of the parts to smaller companies and their contracts typically prohibit them from undercutting the car-maker in the first 5 years. So you benefit when you go to get your car service because you can buy replacement parts without the hefty mark-up