Archive for May 26, 2017

May
26

Financing and Buying Used Cars

Pre owned trucks

In 2015, approximately 54% of used cars were around three years old or newer, according to reports from Edmunds.com. In 2014, the total of cars on the road in the United States reached a whopping number of nearly 253 million.

Lifespan of Used Cars
Nearly 40 million used cars are sold by dealerships and private sellers each year. A car will typically have an average of three owners during its lifetime. According to an IHS Automotive study, cars in the United States are just over 11 years old on average.

What About Leasing?
About 43% of people finance their car. Borrowers who financed their used car in the third quarter of 2016 had a credit score arou