New report proclaims it a good time to buy used cars

Over the years, consumers have viewed used cars as an excellent means of keeping costs down when shopping for a new car. According to a new release from noted customer advocates Consumer Reports (CR), not only are used cars more affordable, they may also be more reliable.

In its Annual Auto Survey, CR found that 5-year-old vehicles have about one-third fewer problems than their newer counterparts, and that only around 1 percent showed any kind of major engine or transmission problems.

The best value for automotive shoppers was found to be 2- or 3-year-old models. These vehicles are seen as just on the other side of the steep value depreciation curve that all cars go through, and contain many of the most modern safety features, according to the Hartford Courant. Three-quarters of the owners surveyed reported no problems over the previous year of ownership, with the most common problems being relatively minor issues, such as squeaks and rattles with power windows and locks.

“That means that buying used,” writes the news provider, “isn’t the gamble [shoppers] might have thought, especially if [they] steer clear of trouble-prone models.”