Introduction
A brand new car depreciates by about 30% of its original value during the first year of ownership.
If this makes you cringe, look at it from the point of view of a used-car buyer. Think "affordable."
There's a lot to be said for buying a used car rather than a brand-new one. You can get a good used car for less money than you'd have to spend on a new one. Or you can choose to get more car for the same money. Many makes and models, features and options that may be out of your price range in the new-car category can be within your reach when you shop for used cars.
To be successful in your selection and purchase of a used car, be rational and proceed with caution. Caveat emptor, the well-known Latin phrase meaning "let the buyer beware," is a valuable rule to keep in mind when you shop for vehicles that have been owned and driven by other people.
Consumer's guidebooks, the Lemon-Aid publications and the Annual Auto Issue of Consumer Reports, published every April, are worthwhile reading before you start to shop.
You may have to be fairly flexible in your choices, according to what's available on the used-car market, and arming yourself with as much information as possible will help you know which models are worth looking into and which you'd be best to avoid.
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