INTRODUCTION - With the average price of a new car increasing every year, it's not surprising that the fastest growing segment of the auto business is the used car market. In the past decade, used cars have become better and better values. Buying a car that's just a year or two old can save thousands over the price of a new model. As used cars, luxury and sports cars are a much better deal. Older cars are also great bargains for basic transportation, especially as new cars keep going up in price. With the improvements made in automobiles over the years, a well maintained car should remain reliable for at least ten years and 100,000 miles. Surveys have shown that the average person trades in or sells a car when it's only four and one half years old with just 41,000 miles on it. That leaves a lot of good cars out there with plenty of life left in them. If you are looking for a new model, buying a used car of the same style, only a couple of years old, can really be a good deal. The biggest percentage of a new car's value is lost in the first year of ownership. Accessories such as expensive stereo systems, power assists and convenience options are far less a factor in a resale price. Plus, by the time it is a couple of years old, even minor problems the car may have had would have been discovered and taken care of.
