Fred (Fayez) Farah learned how the used car buying process can go while operating his own dealership, North Star Motors. That market comes with a variety of advantages when compared to buying a new car, even past the initial savings most people already know about. With all these benefits, buying a used car can end up being a more cost-effective and buyer-friendly way to get the vehicle you want.
One of the bigger advantages offered by the used car market is variety. Compared to the market for new cars, the used market offers significantly more models for buyers to choose from.
Fayez Farah often has people looking for older car models, which can only be found at used dealerships. “If you’re looking for something more specific, you’re more likely to find it on a used lot,” he explained. The used car market also offers you the chance to get closer to the specific car you want in terms of things like color and features.
Used cars are usually certified for inspection and quality, helping you know you’re making a purchase that should be useful for at least a few years. New cars do not come with these same certifications and though things should be fine, it’s often not known what recalls may pop up with new vehicle models. Fred Farah offers this certification at his dealership and he has seen how it helps customers make more informed decisions.
New cars shouldn’t need to be repaired for awhile once you drive them off the lot, but there’s also a lack of knowledge about what may go wrong in the future. With used cars, vehicle history data is available through websites like AutoCheck, giving you the chance to look at what a car you’re interested in has been through with it’s other drivers. Fayez Farah provides this information to his customers when they make their purchase and this is now a common practice at many dealerships across the country.
In addition to reports, used cars tend to have more information available about them online. This gives people a variety of additional opinions to go off of that a new vehicle may not offer. A quick Google search of the year, make, and model of used car that you might buy will allow you to see the experiences other people have had with the vehicle.
It also allows you to look up a dealership and see how they describe the vehicle, something that Fred Farah does for his customers. “People will have questions about what they read online and you can tell them if it’s something common or not, things like that just cause there’s more info out there,” he said.
Whether you are purchasing a new or used car, you’ll have to get the vehicle that you purchased registered, but the age of your car could determine how much those registration fees cost. Fayez Farah operates his car dealership out of Texas, where drivers are charged a flat rate plus local fees to register their vehicle. Other states, like New Jersey, factor in things like age and weight to determine the cost of registration.
When people buy a new car, a variety of fees can be added on to the initial purchase, including the cost of shipping. Fred Farah knows this firsthand from operating his own dealership. Used cars usually do not carry these hidden fees, which allows you to get a car at or near the price you expected to pay walking into the dealership.
The Cost of Insurance
Fayez Farah also knows that used cars usually come with lower insurance rates. Those rates are determined by a car’s value and since used cars have already depreciated in value, those insurance rates will come at a lower cost. This can be especially beneficial for new or younger drivers, who already face higher insurance rates due to their level of experience on the road.
The used car market offers buyers a lot of freedom to make the purchase that’s right for them. Fred Farah hopes that this information will allow you to make smart choices and get a car that you can drive for years to come, while saving their money.
Fred (Fayez) Farah is the owner of North Star Motors, an independent car dealer in Houston, Texas and Okley Construction.