Should I Buy a Used Car?

If affordability is your primary objective, buying a used car may be the best course of action.

Christian Wardlaw | 

Aug 5, 2021 | 3 min read

Updated on April 8, 2026

Capital One

Used cars can offer affordability, especially when compared to their new counterparts. Looking at the pros and cons of investing in new, used, or certified pre-owned vehicles may help you determine the right car for you. 

Here are things to keep in mind when considering buying a used car.

• Benefits of buying a used car
  
• Considerations to buying a used car

Benefits of Buying A Used Car

Worried about cost? Budget-minded car shoppers may gravitate toward used vehicles due to their prices. Plus, used cars do not undergo the steep depreciation that occurs during a vehicle's first few years of ownership. 

Here are some benefits of buying a used vehicle. 

• Cost: Used vehicles are generally more affordable than their new counterparts. Depending on your budget, purchasing a used model may allow you to upgrade in terms of size or luxury. For example, rather than get a new midsize SUV, you may be able to buy a used full-size SUV. Or you can upgrade from a new mainstream brand to a used luxury brand.
• Lower Insurance and Registration Costs: Typically, older vehicles can cost less to insure and register in many states.

Considerations to Buying A Used Car

Used vehicles may cost less at the dealership, but they can carry risks and uncertainties. Here are some things to consider when buying a used vehicle. 

• Condition: Used vehicles vary in their condition. There's no way to be certain how the vehicle was cared for by previous drivers. Before purchasing a vehicle, check its vehicle identification number (VIN), order a vehicle history report, and get a mechanical inspection to learn more about its condition and history. Used vehicles that were clearly well cared for and have a full history of records supplied by the previous owner can be good bets. 
• Less Flexibility In Personalization: You may need to settle for a color combination, powertrain, or included equipment based on availability. For example, you might find a used car in like-new condition, but it might be in a color you don’t like, or have cloth seats instead of leather.
• Technology: Used vehicles are not always as safe or technologically advanced as newer vehicles. From a car’s underlying structural engineering and available semi-autonomous driving assistance systems to touchscreen infotainment technology offering Apple CarPlay, Android Auto, and Wi-Fi connectivity, used vehicles may be less innovative than new vehicles. 
• No Guarantee: If the factory warranty has expired, you may be on the hook for necessary repairs. 
• Financing: You may pay a higher interest rate for a used car loan compared to a new car loan. 

There's a wide scale of used cars available on the market. You can mitigate risks of buying a used vehicle by selecting a car with a clean VIN report, evaluating its maintenance records, and getting it inspected by a professional.  

Christian Wardlaw

Chris says his first word was "car." For as long as he can remember, he's been obsessed with them. The design. The engineering. The performance. And the purpose. He is a car enthusiast who loves to drive, but is most passionate about the cars, trucks, and SUVs that people actually buy. He began his career as the editor-in-chief of Edmunds.com in the 1990s, and for more than 30 years has created automotive content for CarGurus, J.D. Power, Kelley Blue Book, the New York Daily News, and others. Chris owns Speedy Daddy Media, has been contributing to Capital One Auto Navigator since 2019, and lives in California with his wife, kids, dog, and 2004 Mazdaspeed Miata.