The Only Reasons To Buy A Used Car

At the root of it there are only two reasons why people buy used cars:

1 (A) Less Money For Same Car

Either making an affordable car more affordable or putting a formerly unattainable car within reach.

This would be my guess for why most used car sales occur. The buyer saves money on the car compared with when it was new. There's still useful life in it and the trade-off is worth it. For example, what used to cost $30k might now be obtained for $15k.

1 (B) More Car For Same Money

This is a slight variation on the same idea. You can buy something that used to be out of reach. For your money you could buy a regular new car or.... something a bit special.

Be careful though, as it can easily eat you alive with upkeep costs if you end up with a bad example of a complicated, formerly expensive car. It's generally not a good idea to buy a used car for, say, $10k if it sold for $80k when new – unless you're really committed. Generally there is a reason the price is so low.

2. Obtain A Classic

There's no way around this if it isn't in production any more.

Or some combination of these three factors. The smart money will give serious consideration to buying used when it makes sense.

You can save a lot of money. But as always, having a plan or system in place before you go down this route will result in a far better experience.