What Shoppers Should Consider When Looking to Buy a Used SUV

There are a few factors that shoppers should take into consideration when looking to purchase a used SUV. Buying a used vehicle may feel overwhelming, so having reliable information beforehand may help to simplify the purchasing process.

Questions Shoppers Should Ask Themselves Before Making a Purchase

• What kind of budget will they be operating within? Shoppers should know their budget and general price range. This can mean either having the entire vehicle amount in cash or coming up with the necessary down payment beforehand, and then knowing what the monthly financing will cost. For the most part, loans on a used SUV are about the same monthly as they would be on a new vehicle. It is always cheaper to purchase a vehicle outright in cash, but this may not be an option for some consumers.
• What years, makes and models do they prefer? There are many used SUVs available on the market today. It is important that a potential purchaser has a good idea of what used SUVs they are looking for. This can help them avoid being talked into purchasing a vehicle that they don't really care for from a dealership, or else jumping on what seems like a great opportunity at the moment, and then experiencing regret.
• Should they purchase from an individual or a car dealership? There are benefits and disadvantages to both of these options. On the one hand, purchasing used SUVs from an individual can be less expensive, and shoppers may be able to negotiate a deal that is more flexible than they would be able to with a dealership. On the other hand, the vehicle may have issues that the seller does not disclose, and there are certain risks that are unavoidable when one chooses to purchase a vehicle from an individual. Similarly, a dealership may seem like a safer and more reliable option, but some dealerships are not reliable and may end up costing consumers considerably more.
• What will the cost of ownership be? Consumers should calculate the cost of ownership over the course of a year. This means adding up what fuel costs might be, what parts and repairs cost, how much their monthly payments or taxes will be, and other similar expenses.

Benefits of Purchasing Used

Purchasing a used vehicle has many benefits. First of all, it is more economically friendly to purchase used. A new vehicle depreciates significantly the moment it is driven off of the lot. A used vehicle may retain its value better and can even be an investment if handled the right way. Choosing an SUV that is likely to retain its value is a very good idea.

SUVs That Retain Their Value Well

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• Toyota 4Runner
• Acura MDX
• Mercedes-Benz G-Class
• Lexus NX
• Toyota Highlander
• Honda CR-V
• Chevrolet Tahoe / GMC Yukon
• Jeep Wrangler

Top 5 Routes for "Used SUVs"

1. Edmunds.com This link has many great resources available for shoppers. They have MPG rates, vehicle cost of ownership charts, and other highly relevant data available on their website. This link discusses the steps consumers should take when purchasing any used vehicle.
2. Autobytel This website discusses what SUVs tend to hold their values the best. Knowing how to avoid depreciation can be very helpful to potential buyers.
3. Cars.usnews.com is another great resource. This link discusses specific rankings and price ranges of multiple different vehicles.
4. Clark.com Similarly to Edmunds, this site discusses the ins and outs of purchasing a used vehicle. They also provide a step-by-step guide for purchasers.
5. carbuyingtips.com This website provides many car buying tips, as the name states. The article cited actually gives some fantastic advice to consumers pertaining to used vehicle negotiations.