Depreciation refers to the actual value of the car compared to the price you purchased it for. New cars have a reputation for taking a big depreciation hit, and it’s no wonder why. Simply driving off the lot with your new car depreciates the vehicle. Why the sudden depreciation? Because at that point, the value of your car goes down a “Used Vehicle” price point.

Used cars, especially used cars over 5 years old, depreciate more slowly than new cars. That means they typically maintain a higher resale value. In some cases, you may even be able to resell your car for similar to what you originally paid for it. Comparatively, when you purchase a new car instead of a used car, you will almost certainly lose money on it—that’s because a new car depreciates immediately when you drive it off the lot and depreciates more quickly than a used car.

One of the biggest advantages of buying a used car instead of a new car is that you’re more likely to get a better-quality car for the money than you would buying new. This is in part because your budget will stretch farther when purchasing a used car compared to a new car.

When you’re buying a used car, someone else has taken the “hit” of immediate depreciation when the car drives off the lot. That means you may be able to find your dream car for 20-30% less than its original MSRP when it’s only a year or two old.

New cars are a higher risk for financial institutions, which means you may be required to carry gap insurance to cover the difference between what you owe and the vehicle’s value. With a used car, you typically have more flexible options for coverage and are insuring against a lower relative value than with a new vehicle.

One of the best ways to make sure you get a good deal on a used car is to go into the used car buying process knowing what you want. It can be easy to fall for a good price, features, or low kilometres, but it’s important to remember there are many factors that go into the right choice for a used car. Narrowing down your search to a few models that best suit your needs helps you frame your research so you know you’re choosing the best used car for the best price. Going into your car search with specific models in mind can also help you from getting distracted by “good deals,” specials, or other incentives that might throw you off course. Search online for reliability and safety reports for that model, ask to see the Carfax and vehicle inspection (independent) for that particular vehicle.

When you’re buying a used car, reliability and cost of ownership reports will be a huge indicator of whether or not it’s the right car for you. Reliability reports will tell you how long the car lasts, what typical problems you can expect—whether the make or model tends to have certain issues, etc. At BCS Auto Sales, all of our vehicles have been hand-picked to be offered for sale.

It can be easy to get caught up in price, kilometres, or other differentiators with used cars; however, when you’re comparing vehicles it’s important to make sure you’re comparing apples to apples. If your primary decision-maker is cost, make sure you’re comparing the odometer and history reports of vehicles in your price range. If kilometres are most important to you, make sure you’re comparing vehicles with similar odometer readings. It can get confusing when you’re comparing used cars since there are significantly more factors than there are when you’re comparing new cars. Narrowing down the models you’re looking for can help make this process easier to navigate. When looking online, pretty much the only thing you can’t check, is the smell of the vehicle. At BCS Auto Sales, our vehicles are smoke free and without odour.

Use online shopping tools to get to know your car’s current value. The trick here is making sure you’re getting an accurate estimate of the car’s condition when you’re comparing costs. Call ahead of time to ask questions about the condition of the car so you can do accurate research before visiting the dealership. If you didn’t get a good assessment of the condition before test-driving the car, don’t be afraid to take the time to do the research while you’re on site. At BCS Auto Sales, our clients have access to Wi-Fi or our use of our computers for price comparisons.

Used cars have dozens of factors that could impact the quality of the car. Before you purchase a vehicle, make sure to get a copy of the vehicle history. Carfax is a good resource for this and that is what we use at BCS Auto Sales. These reports, along with vehicle inspection reports, are free and available for our clients to see.

Another way to ensure you’re getting a good deal on your used car is to shop around. There are multiple online listing sites on which used car dealerships and private sellers list used cars for sale. These sites can be a good starting point when comparing available models in your price range. Be advised that some vehicles located in remote areas are subject to rougher road conditions and harsher weather, than locally driven vehicles. This must be taken into account when shopping for a vehicle.

Newer used vehicles, may still have some balance remaining under their original manufacturer’s warranty. At BCS Auto Sales, the majority of our vehicles will come with their balance of original manufactures warranty plus an option to extend warranties through third party sources.

If you’re not sure what model of used car will be best for you, consider looking at popular models from previous years. A popular car model usually indicates a good balance between quality and value. At BCS Auto Sales, we have a team constantly reviewing our vehicle offerings to ensure the vehicles are reliable, efficient and without concerns.

When buying a used car from a private party, you have no recourse should the vehicle not be describe and presented as advertised. At BCS Auto Sales, we are a certified and accredited Used Car Dealer and all of our team members are VSA (Vehicle Sales Authority) Certified. When purchasing a used vehicle privately, CarFax reports and Independent Vehicle Inspections costs are incurred on to the purchaser, not to mention any cost of reconditioning. At BCS Auto Sales, all our vehicles come with full CarFax Vehicle History Reports, Independent Vehicle Inspections and servicing as per recommendations from the independent vehicle inspection. Each vehicle offered at BCS Auto Sales, also undergoes a through and professional detailing prior to being offered for sale. It can also be more time-consuming to buy from a private party since they will typically only have one vehicle available for sale. You will sometimes have to visit multiple private parties in succession before finding the right car for you. At BCS Auto Sales, we offer an array of most makes and models.

Purchasing from a dealership can also save time since they often have multiple cars. If you are unable to find the car you’re looking for, a car dealership can also help you track down the right car and notify you when they receive it, helping to save you the time and effort. In addition, used car dealerships often run specials on certain vehicles or on their entire used car inventory that can help you secure a good deal on your used car.

Certified Pre-Owned (CPO) is an official certification from the car manufacturer. It means the used car has been inspected, refurbished, and certified by the manufacturer or by an official certification partner. This usually means improved reliability from your vehicle and fewer surprise problems. At BCS Auto Sales, all our vehicles have been hand-picked to be offered for sale. They are then independently inspected and serviced before going for a professional cleaning. This ensures quality and trust knowing the vehicles are in great shape and without concerns.