Over the past several years there has been a significant uptick in the number of secondhand cars available for sale in Orange County CA. There are a number of factors are driving the surplus of used cars. One of the largest factors is the resurgence of new car sales over the past several years. As new cars become more popular the used car market necessarily becomes flush with trade-ins. Plus, while new cars were unpopular in 2008 and 2009 many people who would have purchased new cars instead decided to lease their vehicle. All of those leases are now starting to expire which means former leased vehicles are particularly prevalent in the surplus of secondhand cars for sale in Orange County.
Where to Find Second Hand Cars for Sale in Orange County CA
Anyone interested in purchasing a secondhand car for sale in Orange County needs to know where to look. While there are a variety of individual options they can all be boiled down into three essential categories. Used-car dealerships, private sellers, and local auctions.
Used Car Dealerships Are Expensive
Used-car dealerships are rarely the most popular choice in Orange County CA because they are the most expensive option. To complicate matters as new car sales rise and used-car sales begin to fall, used-car dealerships work harder to increase their margins – which means higher prices for consumers. For more than a decade it is common knowledge that used-car dealerships are typically the most expensive in the option, however they are still popular for people who want certified preowned vehicles.
Private Sellers Want Buyers to Pay for Sentimental Value
The second option is private sellers. While private sellers are typically less expensive than going to used-car dealership they present their own problems. One of the most commonly reported problems is private sellers ask significantly more for their vehicle than they should. This is primarily because the vehicles hold memories. Unfortunately, private sellers typically addend this sentimental value when creating their asking price. Additionally, it can be difficult to know whether a private seller actually did a good job of maintaining their vehicle or if all of their paperwork is in order.
Online Auctions Make It Easy
The third option is online auctions or live auctions in the Orange County CA area. These auctions are growing in popularity because buyers pay only what the market demands. As with all auctions, your sole responsibility is to pay one bid increment more than anyone else. There is no sentimental value and no dealership margins to account for. As an added bonus, many of the companies which leased vehicles typically termed auctions in order to liquidate their excess inventory. This creates a unique advantage for secondhand car buyers.
Plus, auction houses and many of the businesses they source vehicles from our willing to play some level of guarantee as far as the working condition of the vehicle. While this may not be the same type of guarantee as a certified preowned vehicle, it doesn’t sure that the car meets any of the characteristics it was advertised to have. For example, if an auction house dates a car can start, runs, and drives then it must be able to accomplish this before the buyer is obligated to pay for it. This makes auctions much less risky than they used to be.
Why Buy Second Hand Cars?
While many buyers understand that online auctions or local orange county auctions are the best place to buy second hand cars, many still question why purchasing a used car is better than buying a new one. While everyone has their own opinions about new versus used there are several undisputed facts which benefit secondhand cars.
1. Lower Prices and Less Depreciation
The first benefit of buying a secondhand car is that consumers not only pay lower prices but also suffer less from depreciation. For most cars, they will depreciate more than 50% over the first several years of their life – once they drive off the lot. This is why used-car is often the best bargain. For example, in orange county California, at an auto auction, it is common to find sports cars are luxury cars for the same price as a new sedan. In short, the older a car is the less depreciation the new owner will deal with.
2. Lower Taxes
Another significant financial benefit of purchasing second hand cars in Orange County CA rather than buying a new one is lower taxes and registration fees. California charges higher sales tax as well as higher registration fees based upon the age and style of a vehicle. By purchasing a secondhand car in Orange County all of these fees will be significantly lower.
3. Cars Are Built to Last
One of the biggest problems many people have when deciding whether or not to purchase a secondhand car is reliability and durability. This is because in decades past it was common for cars to only be good for 75,000 to 100,000 miles. Today that is no longer the case. Nearly every car is built to last at least 150,000 to 200,000 miles without any significant issues. Of course, this assumes that the car was well-maintained. Fortunately, a good mechanic will happily inspect the vehicle prior to a buyer purchasing it.