Used Cars

What is the difference between buying a used car v. pre-owned which makes no sense if you look at what the words mean!

I am on a budget and prefer to buy a good used car, but where would you suggest I can get such a car that hopefully was not in an accident, and will not give me trouble not long after I purchase the car? I looked at used cars with the new car dealers and find a 2015 or 2014 not too different price-wise from a new one. Why is that?
Anyone know how many years a used car can be financed? And how much of a down payment would be required?

Glowpun said:

What is the difference between buying a used car v. pre-owned which makes no sense if you look at what the words mean!

I am on a budget and prefer to buy a good used car, but where would you suggest I can get such a car that hopefully was not in an accident, and will not give me trouble not long after I purchase the car? I looked at used cars with the new car dealers and find a 2015 or 2014 not too different price-wise from a new one. Why is that?
Anyone know how many years a used car can be financed? And how much of a down payment would be required?

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Pre owned means it has been certified, means means practically nothing, since any dealing claiming such can drive the car ten feet and claim it passes, then later fudge the paperwork.

You need a mechanic you can trust, and do not be afraid to have to pay a mechanic to inspect a car you want to buy, better to pay to ensure it is of good sound working order, rather than take a used car salesmans word for it.

Glowpun said:

What is the difference between buying a used car v. pre-owned which makes no sense if you look at what the words mean!

I am on a budget and prefer to buy a good used car, but where would you suggest I can get such a car that hopefully was not in an accident, and will not give me trouble not long after I purchase the car? I looked at used cars with the new car dealers and find a 2015 or 2014 not too different price-wise from a new one. Why is that?
Anyone know how many years a used car can be financed? And how much of a down payment would be required?

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Just the description. Used is used;"pre owned" is a BMW.

Well, technocally theres no difference between the two unless one says "certified" before it. Usually 'certified' used or pre-owned cars will come with an extended warranty of some sort. Pre-owned is just a marketing term that sounds less-bad than "used".

If you're interested in buying a used car, whether certified or not, try to buy one older than just two years old. That's where you'll start to find some savings. There are plenty of well maintained, low mileage used vehicles available that are three, four and five years old if you take the time to look. Financing such vehicles will not be as attractive as it is for new cars. If you can pay cash, you're much better off, but even if you can't, you're saving yourself a ton in depreciation. A ton. If your vehicle is some kind of personal statement for you, well, then you're probably better off with a new one. Just remember, when you drive that new car off the lot, you're driving a used vehicle.

humbolt said:

If you're interested in buying a used car, whether certified or not, try to buy one older than just two years old. That's where you'll start to find some savings. There are plenty of well maintained, low mileage used vehicles available that are three, four and five years old if you take the time to look. Financing such vehicles will not be as attractive as it is for new cars. If you can pay cash, you're much better off, but even if you can't, you're saving yourself a ton in depreciation. A ton. If your vehicle is some kind of personal statement for you, well, then you're probably better off with a new one. Just remember, when you drive that new car off the lot, you're driving a used vehicle.

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*Edit: sorry humbolt, meant to submit general reply to OP, not yours. Yours makes a lot of sense, btw.

I would consider buying from a private seller. You can usually tell how well they've maintained their vehicle by how they and their home looks....this is just more time consuming. If they seem polite and have receipts for maintenance, even better. A car lot will almost always charge you more as they have to make their money, and I wouldn't trust them too much when they say it's "certified", I would only trust a warranty. I just traded in my pickup truck because it was shooting out spark plugs. The dealer I turned it in to isn't going to replace the engine, which is what needs to be done, they're going to sell it as is.

You can also look for a killer lease deal, like a 2015 3 yr. lease that no one else wanted and trade in your current vehicle if you have one to lessen your payments even more.

Been in the business for over 30 years....and here are my suggestions

Stick to 2010-13 models right now

They will give you the best value

What ever car you choose....make the deal contingent on YOUR mechanic doing a full inspection and checkout

If you have to finance, keep the term short.....no more than 36 months.....

If you have to finance longer, you need to look for a cheaper car.....

Be careful about add ons.....I won't say don't buy an extended warranty, but do your research first

You should be able to keep payments low and get a decent mileage car

And stick to the larger lots, or new car dealers....they are more reputable, and care more about their customer service

gdgyva said:

Been in the business for over 30 years....and here are my suggestions

Stick to 2010-13 models right now

They will give you the best value

What ever car you choose....make the deal contingent on YOUR mechanic doing a full inspection and checkout

If you have to finance, keep the term short.....no more than 36 months.....

If you have to finance longer, you need to look for a cheaper car.....

Be careful about add ons.....I won't say don't buy an extended warranty, but do your research first

You should be able to keep payments low and get a decent mileage car

And stick to the larger lots, or new car dealers....they are more reputable, and care more about their customer service

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I already mentioned a mechanic inspection, but you brought up another good point, addons. Too often I have to work on cars with extended warranty companies, to find out they cover practically nothing. Many say internally lubricated parts are covered, but those internally lubricated parts are not covered by outside parts causing failures.

For example f a solenoid pack on a transmission fails and burns it up alot of insurance companies will deny coverage, or for engines something like a cam synchronizer failing blowing your engine they will say the cause was not an internally lubricated part, no warranty.


Too many people get taken by those extended warranty companies, some are awesome, others will not cover anything. I would agree with you to research them and not just buy the one the dealership throws at you, as you can always search around and get a better warranty company.

Spending 22 years in the auto repair business I'm a fan of buying a used car that is still covered by the new car warranty and is eligible for an factory extended warranty.

Glowpun said:

What is the difference between buying a used car v. pre-owned which makes no sense if you look at what the words mean!

I am on a budget and prefer to buy a good used car, but where would you suggest I can get such a car that hopefully was not in an accident, and will not give me trouble not long after I purchase the car? I looked at used cars with the new car dealers and find a 2015 or 2014 not too different price-wise from a new one. Why is that?
Anyone know how many years a used car can be financed? And how much of a down payment would be required?

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It depends - if it's a vehicle that was sold by that dealership or leased, it has to meet certain standards to be sold as a 'certified pre-owned'. It's tied in with the industry itself, not 3rd-party buy outs.

Often, when a vehicle is in high demand, dealers will contact current owners that have bought through them and see if they want to sell it back - or trade in. These tend to become classified as certified pre-owned.

There are perk and benefits for both the owners of such cars, the car dealers, and the person buying them. but these perks come at a cost. Certified Pre-Owned Cars: A Reality Check

It's a reliable way to ensure your vehicle has been well-checked since only certified dealers can certify a pre-owned vehicle.

If you go with CarMax, as many do, beware that they don't repair cars with open recalls before selling them.
Given the fact that CarMax sells cars at premium prices, I'd avoid them.

Glowpun said:

What is the difference between buying a used car v. pre-owned which makes no sense if you look at what the words mean!

I am on a budget and prefer to buy a good used car, but where would you suggest I can get such a car that hopefully was not in an accident, and will not give me trouble not long after I purchase the car? I looked at used cars with the new car dealers and find a 2015 or 2014 not too different price-wise from a new one. Why is that?
Anyone know how many years a used car can be financed? And how much of a down payment would be required?

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Aunt Spiker pretty well explained the certified pre owned thing. Carfax can also give you a history on a car as if it was in an accident and so forth.
Regarding financing and payments, a lot of that is dependent upon your credit scoring ( i.e. payment history and so forth ). It also depends on the price of the car you are financing.
If a downpayment is required it is obviously going to be more on a 25k car as it would be on a 15k car. same with the term of the loan. You might get up to a 5 year loan if you bought a higher priced car but they are not going to give you a 5 year loan for a 10k car.

Best advice on buying a car that is used, preowned, certified preowned etc... if you go to a dealer don't pressured into buying right away. go have some lunch at least maybe even sleep on it. They will always try and get you to buy today that's the salespersons job.
Also they will always try and upsell you to a car that's a higher price. If you have a firm ceiling on what you can spend then , once again, don't get pressured.
As to the car itself.. drive it.. pay attention to noises when it brakes or accelerates or turns just in case there is something wrong there. open the hood. look around in there for any signs of oil or other fluids. they have likely cleaned it up of course but you can still spot some leaks sometimes. Look underneath the car for the same.
No indications of fluid leaks is a must for me if I buy a used vehicle as fluid leaks are a sign of trouble in the future.

My Dad was a small-time car dealer. He told me never buy new, you lose 30% when you drive it away.


The trick to buying used cars is knowing what to look for (or having access to someone who does) and refusing to buy anything that isn't a good deal in good working order.

I went through this late last year and spent two months searching hard. I didn't find jack **** at any used car dealers... everything was badly overpriced and half of it was junk.

After a month I stuck to focusing on single owner sellers. I looked at a LOT of cars, used Craigslist as well as local wannad papers. I'd call and ask a lot of questions before bothering to go look, and even then 90% of the cars I looked at failed the sniff test.

If there's something wrong with it, have the owner FIX it BEFORE you buy it. never know how much a repair will cost necessarily.


I got pressured hard to "buy now" and almost gave in a couple times, but I resolved and insisted I would NOT buy until I found a mechanically sound vehicle in my price range, and finally came across what I was looking for at the price I wanted.

Mostly, patience, careful examination of the vehicle, and the ability to walk away.

Critter7r said:

Well, technocally theres no difference between the two unless one says "certified" before it. Usually 'certified' used or pre-owned cars will come with an extended warranty of some sort. Pre-owned is just a marketing term that sounds less-bad than "used".

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Bingo!

Goshin said:

My Dad was a small-time car dealer. He told me never buy new, you lose 30% when you drive it away.

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I heard that a lot last time I bought new (17 years ago). To me, if you plan on keeping the car for a decade at least, and get every possible mile out of it like I do, that factor becomes pretty much irrelevant.

Glowpun said:

What is the difference between buying a used car v. pre-owned which makes no sense if you look at what the words mean!

I am on a budget and prefer to buy a good used car, but where would you suggest I can get such a car that hopefully was not in an accident, and will not give me trouble not long after I purchase the car? I looked at used cars with the new car dealers and find a 2015 or 2014 not too different price-wise from a new one. Why is that?
Anyone know how many years a used car can be financed? And how much of a down payment would be required?

Click to expand...

Find a reputable used car dealer and ask them about getting you a car. Most used car dealers buy their stock at auction and can you get some great deals. For a used car dealer, buying a car at auction that they know they have an immediate and guaranteed sale for is a great motivator for giving you a deal. If they can pick up a car, haul it back to their lot, get handed a check and fill out the paperwork, they LOVE it. The used car business is all about volume and fast turnover. Also, ask about dealer demo models specifically, you can pick up a vehicle that a salesman used as a driver for a year or so (4,000-10,000 miles) for about 1/2 - 2/3 of it's original sticker price.

jet57 said:

Just the description. Used is used;"pre owned" is a BMW.

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Used BMWs don't run on gasoline, they run on $$$$. Used BWM drivers measure fuel economy in mile per $.

Glowpun said:

What is the difference between buying a used car v. pre-owned which makes no sense if you look at what the words mean!

I am on a budget and prefer to buy a good used car, but where would you suggest I can get such a car that hopefully was not in an accident, and will not give me trouble not long after I purchase the car? I looked at used cars with the new car dealers and find a 2015 or 2014 not too different price-wise from a new one. Why is that?
Anyone know how many years a used car can be financed? And how much of a down payment would be required?

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Are you handy? Do you own tools and know how to use them and know how engines and suspensions and other mechanical trivialities are supposed to work? Buy a cheap car, privately, that fires up right away and drives down the block smoothly with no weird noises.
If not, get whatever you can afford with a drive-line warranty from a dealer. And don't get financed by a car-lot. Talk to your bank.

faithful_servant said:

Used BMWs don't run on gasoline, they run on $$$$. Used BWM drivers measure fuel economy in mile per $.

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You should try going to Germany there are so many old BMWs and Mercedes you can easily pick one up for a few hundred dollars.

radcen said:

Bingo!

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From a new car dealer with whom I have done business with before, I got a 2014 Honda still under original warranty although it will run out in a few thousand miles. Out the door price was 15k. Yeah, it is certified by something like Motor Trend? Whatever. I purchased an extra policy that covers electronics. I heard from several places that starting in 2012 cars have become something like computers on wheels. So what will become of these mechanics who work on cars prior to 2012?

So for late model cars no longer under factory warranty, where does one go to fix a car with all those computer electronics? Will your neighborhood mechanic be able to repair them?