Used Cars For Sale in Memphis, TN (2024)

FAQs

How old of a used car is the best deal? ›

The optimal time to purchase a used car is typically between 2 to 5 years old. Within this age range, the vehicle has already experienced the most significant depreciation, yet remains relatively new and in good condition.

After comparing multiple car buying websites, our team found CarMax pays top dollar for used vehicles.

It wouldn't be a best seller list without the Ford F-150 pickup topping it and 2023 is no exception. Making up 3.3% of the 9.2 million used car sales examined, the Ford F-150 retained its top spot for another year, not just in the used market.

What is considered high mileage on a car? Often, 100,000 miles is considered a cut-off point for used cars because older vehicles often start requiring more expensive and frequent maintenance when mileage exceeds 100,000.

Older vehicles often require more frequent maintenance, and some components may need replacement due to age-related wear. The overall cost of ownership can increase significantly as the car ages, potentially outweighing the initial savings on the purchase price.

Honda and Lexus models are selling the fastest, while premium vehicles struggle to find their second buyers. Consumers are happy to buy used EVs, but hybrids are selling like hotcakes right now.

According to Autotrader, the best used vehicle should be between four and six years old, and have less than 50,000 miles. But you'll also want to consider how the owner drove the car, whether it was mainly driven in the city, highway or a mix — and how well the car was maintained.

In reality, there is no concrete answer for this – it all depends on the car. A well-maintained 10-year-old car could possibly be a better investment than a newer model which hasn't been looked after. As a very general rule of thumb, a car is usually reliable up to 5 years providing it has been maintained.

Is it better to buy a 10 year old car? ›

Today, buying 10-year-old used cars definitely makes sense, provided you keep a few parameters in mind. Why buying a 10-year-old used car is a good idea? Budget is the primary reason why you should consider a 10-year-old vehicle. In its first year, a new vehicle loses almost 20% of its initial dollar value.

Within the first year, many cars will lose up to 20% of their value. After that, they may lose about 15% more per year until the four-or five-year mark.