As many commentators have explained, although the value of both used and new cars have appreciated over the years, there is still a significant difference between prices. In addition, the price of used cars appreciates at a slower rate than that of new cars. In today’s market, many used cars have only been lightly used with low mileage. For this reason, buying a used car can make great financial sense and has become a compelling alternative for many buyers across the country. That said, a recent post here cautioned against buying used cars that come from a rental fleet even though the prices are fabulous (e.g., a used 2023 Tesla from Hertz (whether from Hertz directly or through a dealership) can be had for $25,000, which is 30% or more below what you'd pay for a used Tesla from Tesla. As explained, these former rentals are often cause all kinds of trouble for their new owners. Now, here's the point of this post: If you're working with a dealership to find a 2023 used Prius, and one becomes available, and it has 24,000 miles on it, ask whether it's from a rental fleet. The carfax will disclose if it did. And you would do well to pass on that and kick yourself for not having bought the new 2024 Prius you had a chance to buy.
[EOP]
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