Around eight million used cars sold are sold in a typical year. And this enormous breadth of choice is probably the single best argument for buying a used car. Another big plus is that you avoid taking the financial hit of depreciation – around 20% of a new car's value is wiped out as soon as it leaves the showroom. Few new cars are worth more than half their purchase price after three years, while many will have lost up to two-thirds of their value. The introduction of ever-longer factory warranties has also added to the appeal of used cars – boosting peace of mind for those buying previously owned vehicles.
