Americans love their cars. An IHS report stated that the age of a typical car on the US roads was 11.5 years. It does not mean Americans are not buying new cars. They are! They are just not selling or scraping their existing cars. As a result, the overall fleet in the United States has seen the average age increase by 17%. As the age of the fleet increases, so does the demand for auto parts. As expected, the industry reached $73billion in revenue in 2019. Maintaining a car is clearly big business.
A 2017 study by AAA showed that the cost of owning and operating a vehicle in the US was $8500 with the biggest component being maintenance & repair. In fact, a third of drivers were not in a position to afford an unexpected maintenance bill. This may cause drivers to delay maintenance. Instead of taking such a drastic decision, those looking for replacing car parts, also have an option of exploring the used auto parts market.
Here are the top reasons of why used auto parts are such a lucrative alternative.
The first, most obvious, and important reason to opt for used auto parts is the huge cost benefit that you can realize from it. Brand new auto parts are the instinctive choice among people. However, for the most part, you are paying a premium for the “new” part rather than the actual cost of the car. With a used car part, you are paying only for the functionality. You are stripping away the big premium attached to the brand name, which can result in big savings.
Moreover, when you are dealing with an older car, why would you want to use a new car part? You won’t be able to get the complete utility out of the car part anyway. So, you will be paying for the car part that will be used by the next owner of the car or inevitably find its way into the used auto parts market. Why would want to do that?
The used auto parts market is fiercely popular among the vintage car dealers. Now, if you are looking to get work done on a Nissan 300ZX, you won’t be heading to a dealership to find the parts you need. You will have to find used Nissan parts that have been refurbished to be used in your classic vehicle. You depend on a dealer to scrape old parts from a Nissan 300ZX to put in your prized car. These cars command a premium in vintage car shows. So, good used auto parts are a complete At that point, used auto parts are your only option.