The coronavirus pandemic has caused an increase in Americans buying used cars to save more money. The average cost of a brand-new car is $40,000. In this pandemic-wrecked economic climate, more Americans are choosing to buy used cars like never before. The average used car costs about $20,000. And the typical monthly car note costs $400. However, since used car
Financial experts tend to agree buying a used car makes more sense than buying a new one. After all, a used car has already taken the depreciation hit new cars experience during their first year on the road. This can be as much as 20 percent of the retail price of the car.
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