Americans are buying used cars more than ever, 41.4 million of them compared to only 16.1 millions new cars in 2007, according to CNW Marketing Research Inc. New cars, on average, lose 15-30% of their value the moment they're driven off the lot, according to auto web site Edmunds.com The slowing of new car sales are not lost to dealers who are putting greater emphasis on their used-car inventories, offering wider selection and lower prices. And considering the options consumers now have in the used-car market, used cars are lasting longer. In 2006, the average passenger vehicle in the US was 9.2 years old, a record, according to industry analysis group R.L. Polk. From "certified pre-owned" cars to no-haggle superstores (like CarMax), 2008 offers an unrivaled opportunity to get a great deal on second hand cars. With the wealth of safety, reliability and pricing information online (Edmunds.com But many car buyers have an aversion to used car shopping because of their fear in the possibility of buying a lemon. There are indications 'tho that the process is slowly being changed. It seems like transparency is becoming the key to restoring trust after many years of rip-offs and bad experiences of several generations of Americans in buying used cars. 1. Through a dealership: Used cars can be certified pre-owned car or not. Certified Pre-Owned Vehicles Pro: No lemons. All certified pre-owned vehicles are thoroughly inspected by a factory mechanic and come with generous extended auto warranties. Con: You pay more for this extra level of protection. According to figures from Edmunds.com A certified pre-owned car is perfect for consumers who know very little about cars and won't be able to spot a lemon. But don't be assured that Certified Pre-Owned Car is free of defects. Manufacturers' certified programs vary. Some offer considerably longer warranties or more thorough inspections than others. For lists of the most comprehensive ones, go to Edmunds.com Edmunds.com 2. Buying From Individuals Pro: The cars are cheaper. Con: You're buying a high-ticket item from a complete stranger. Once the deal is closed, you'll have little recourse if you got stuck with a lemon. (In most states, lemon laws only apply to cars bought through a dealership.) Buying a vehicle from a private party will take the most legwork, but it will also most likely yield the greatest deals. Again, internet auto sites can help you in buying used cars
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