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How old of a used car should I buy?
My daughter is turning 16 next month and will be getting her driver’s license. I’ve been looking into buying her a used car that has modern safety features but is old enough to be affordable. What is the right balance? Can a used car be too old?
Drew Waterstreet · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
This is an exciting time! Of course, safety is always a parent’s number one priority. We recommend buying a used car that is three or four years old.
Vehicles depreciate by roughly 20% in their first year off of the dealership lot, and then 10% more in each subsequent year. So after three or four years, you should see some affordability in more modern cars that have safety features such as rearview cameras and proximity sensors.
If you want to look for a vehicle that is five to ten years old, consider the vehicle make and model. Some reputable vehicles in the safety category, according to IIHS crash testing, include:
- Toyota Camry
- Ford Taurus
- Subaru Outback
Make sure your new driver is covered with the right
car insurance
, too. Newly licensed drivers typically run higher insurance rates, but Jerry
can still find you savings. A licensed broker, Jerry compares rates from more than 50 insurers and helps you switch once you find a policy you like.View full answer
- Gregory R.
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