Why buy a Pre-owned vehicle?
two out of every three cars sold are used cars. As cars have become more
reliable and last longer,
the supply of high quality used cars has increased.
Lower Purchase price
A 2-3 year-old car will be less expensive than a new version of the same model.
One of the main advantages to buying a Pre-owned vs. a new vehicle is that you avoid incurring the early depreciation. Typically, a new vehicle depreciates approximately 20% in the first year or ownership. Buying a 2-5 year old vehicle is a great way to get a current generation, low mileage, reliable vehicle at a lower price than a brand new car.
Insurance rates tend to decrease with
the age of a car.
Get a Nicer Used Car than a Lesser New Car
Another advantage of buying used is that you can buy a pre-owned model of a more expensive vehicle for the same amount of money as a very inexpensive new vehicle. For example, if you had $15,000 to spend on a vehicle and were shopping for new vehicles, you'd be able to buy a new Toyota Yaris or perhaps a manual transmission Scion xD. However, if you look at used, you would have a plethora of choices, from something luxury like a 5-year old BMW, something full size and 4WD like a 4x4 Durango or Explorer, or even a sports car like a 2 or 3-year old Saturn Sky, Pontiac Solstice, or Mazda Miata.
What factors should you consider
when looking at a used vehicle?
- Ask for the CarFax and review the vehicle's history. A CarFax report will tell you if the title is free and clear and whether the vehicle has been in an accident. At Toyota Sunnyvale we offer a full biography of every vehicle, including a Carfax.
- Look up the
Blue Book value to understand the vehicle's current market value. At Toyota Sunnyvale, you'll find most
vehicles 3 years old or newer are priced below Kelly Blue Book.
Often the manufacturers will offer a special APR on all Certified Pre-Owned.Toyota Sunnyvale Satisfaction Guaranteed
Peace of Mind
Certified vehicles go through extensive inspection. With Toyota, that inspection is a 160-point Quality Assurance Inspection. Every Certified Pre- Owned Toyota comes with a 7 year/100,000 mile powertrain warranty and roadside assistance (from original date of sale), as well as a 3 month/3,000 mile comprehensive warranty.
We also have a wide variety of extended service contracts available for purchase on nearly all of our vehicles. These plans cover anything from just the engine and transmission, to more comprehensive coverage that will cover everything that the factory warranty covered.
Value Comparison of Certified vs. Private Party
In many cases even if a certified vehicle is more expensive in price than another car, it may still be a better value. For example, if you are looking at a 2007 Camry with 62,000 miles from a private party for $13,000 and a similar mileage Certified Vehicle for $14,491, on the surface, the private party seems like the best value but the Certified vehicle actually provides a better value.
First, the private party vehicle has no warranty coverage left, while the Toyota Certified vehicle has up to 100,000 mile (from original date of sale) Powertrain warranty, a 3 month/3,000 mile comprehensive warranty, as well as road side assistance up to 100,000 miles.
In addition, Toyota has performed a 160-point inspection that, presumably, the private party vehicle has not. The value of those benefits can be well over $2,000! Additionally, the special APR offered on a Certified Vehicle can save you even more money - over $1000 versus a standard used vehicle rate (with no money down). In this case, the Certified Pre-Owned Vehicle is a better value by over $1500.
Test Driving Tips
Conditions: Be sure to drive the vehicle in similar conditions to what you'll normally be driving. If you drive mostly around town, spend most of the test drive around town, but do try out highway driving as well. If you live up a steep hill, find a steep hill nearby and make sure the vehicle performs to your satisfaction.
If possible, drive the vehicle is in bad weather such as cold, rainy, or windy conditions. Most cars drive great and feel like a great car when it's a beautiful summer day - the true test of a car is how it handles when it's not such a nice day!
Examine Fully: While you'll want to check the radio and other audio components, turn them off when you're driving so you can hear the vehicle. Check every component you're concerned with while on the test drive or when you get back from the test drive. Be sure to try the air conditioning, even if it's a cold day. Test the cruise control on your test drive.
For testing the audio system bring your favorite CD in and your iPod and see how it sounds. Lastly, don't be afraid to ask questions if the sales consultant doesn't know the answer, make sure they find it.
Here at Toyota Sunnyvale we are very unique in that every vehicle we sell, new and used, comes with a 3 day/250 mile return policy, and a 7 day/700 mile exchange policy (no questions asked).