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Essay text:
The growth of the used car field has
been a result of these demands.
Rising, higher prices for new cars have caused the typical American consumer to
examine alternate solutions for their transpiration needs. As the average car
on the road is 8 years old, compared to 5.8 years in 1970, the signal to the
auto industry has been that cars are being built better and consumers are not
afraid to buy them.
Of course, this choice does not come without an opportunity cost for the
consumer. A used car will generally be bought on the condition "as is" or, at
best, with a very limited warranty. If a buyer of a used car drives off the lot
and finds they have purchased a vehicle that needs lots of money spent on it for
repairs, they may possibly find themselves out of luck...
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