Used Cars Near Riverside, California
Having been in business for over 70 years, we have met people from all walks of life. Here in the Inland Empire area we get customers from all around the Riverside area. One thing we've learned is that there is a certain segment of the population here in our nearly 27,000 square mile backyard that prefer to buy used cars rather than new cars. Whereas some of our customers will only buy new cars every so often, others will only buy used cars. They have differing reasons for doing so, but this fact keeps us motivated in providing the highest quality used car inventory no matter what the reason. In fact, at any time you can view our used car inventory online and see what kind of vehicles we have at the current time.
Used Car Dealer Serving the Riverside-San Bernardino-Ontario Metropolitan Area
If "Riverside-San Bernardino-Ontario Metropolitan Area" sound formal to you, that's because it is! That is how the U.S. Census Bureau federally defines the "Inland Empire." We share our home with over 4 million people and we're the third most populous metropolitan area in the State of California. So with so many families, individuals, and employees nearby, we need to have an impact on the quality of used cars in our own market. Above we mentioned that people have differing reasons for buying used cars over new cars. Here are some of the reasons we've found:
New Car Depreciation - Some people are concerned with the dramatic drop-off in value once a new car rolls off the lot. This drop in value is called "depreciation" (the opposite of "appreciation"). In other words, some items increase in value over time, some maintain their value, and others drop in value. New cars drop off in value at a much higher rate than used cars. According to Edmunds, a new car can lose 9% of its market value 1 minute after it is sold! The depreciation doesn't stop there though. At 1 year and 15,000 miles, a new car could have lost 19% of its market value, and by year two it can lose 31% of its market value. Jump to a car's 3rd year and its market value can be only 58% of what it was when it was new. That's a 42% depreciation, and some people we've met are very concerned about that. For them, it is smarter to let somebody else take the loss and so they look to buy a three year old car that has already fallen in value since the depreciation rate from three years and beyond is much more stable than the vehicle's first three years (not to mention more affordable). If this school of thought represents you, then visit our Online Used Car Inventory page right now to see what we have to offer. If you don't see what you're looking for, remember, we're always replenishing our inventory and can even custom order something that you want.
Budget - As mentioned above, new cars depreciate which means they drop in value. This leads to the obvious fact that used cars are priced for sale lower than new cars. Many people understand this, and many people are always looking for ways to save money in all areas of life including car-shopping. These people understand that a used car is likely to result in an overall lower amount financed or an all-around lower cash price. To them, a lower price on a quality vehicle is worth more to them than a brand new car at a higher sticker price. Many used cars are even "Certified" by the manufacturer and can sometimes even qualify for special financing rates usually reserved for only new cars off the line. Although not every used car has factory incentives available, it sure does sweeten the already good deal if and when it comes around. If you are a budget-conscious used car shopper in Riverside or the surrounding areas, contact us to see how we can not only save you money but do it with a great Riverside used car!
Credit Worries - Another major concern for some of the people that end up on our used car lot is credit. Many feel like because of their past credit history from paying bills late or having collection accounts and other problems, they can't qualify for the higher ticket new cars. Their reasoning is that they need to be more modest, more realistic, and they believe that a used car is easier to finance than a new car. While this is not always the case, many people find themselves on our used car lot for that very reason. Since every opportunity to sell a used car is different, we cannot say with certainty that a used car is easier to finance with someone with credit problems than a new car. Lenders ultimately make the decision, but the credit approval guidelines they give us allow for a very wide portfolio of customers. If you are someone who is worried about your credit, then see what you pre-qualify for using our online Application. You just might be surprised by how easy it is to buy or lease your next car here at MK Smith!
Budget - As mentioned above, new cars depreciate which means they drop in value. This leads to the obvious fact that used cars are priced for sale lower than new cars. Many people understand this, and many people are always looking for ways to save money in all areas of life including car-shopping. These people understand that a used car is likely to result in an overall lower amount financed or an all-around lower cash price. To them, a lower price on a quality vehicle is worth more to them than a brand new car at a higher sticker price. Many used cars are even "Certified" by the manufacturer and can sometimes even qualify for special financing rates usually reserved for only new cars off the line. Although not every used car has factory incentives available, it sure does sweeten the already good deal if and when it comes around. If you are a budget-conscious used car shopper in Riverside or the surrounding areas, contact us to see how we can not only save you money but do it with a great Riverside used car!
Credit Worries - Another major concern for some of the people that end up on our used car lot is credit. Many feel like because of their past credit history from paying bills late or having collection accounts and other problems, they can't qualify for the higher ticket new cars. Their reasoning is that they need to be more modest, more realistic, and they believe that a used car is easier to finance than a new car. While this is not always the case, many people find themselves on our used car lot for that very reason. Since every opportunity to sell a used car is different, we cannot say with certainty that a used car is easier to finance with someone with credit problems than a new car. Lenders ultimately make the decision, but the credit approval guidelines they give us allow for a very wide portfolio of customers. If you are someone who is worried about your credit, then see what you pre-qualify for using our online Application. You just might be surprised by how easy it is to buy or lease your next car here at MK Smith!
MK Smith Used Cars Focus Areas
Our location is ideal for us to concentrate on certain cities around us. We provide our used car inventory to residents and employees in the following cities:
- Riverside - Used
- carsFontana - Used cars
- Moreno Valley - Used cars
- Corona - Used cars
- Pomona - Used cars
Our service area is broader than just these cities, but these are the cities that send us the signals that ultimately determine which used cars we will focus on for maintaining our inventory over the long-haul.
