Used Car Prices Predicted to Go Up
Looking to save money on a used car?
You just may be surprised by that number on the sticker.
Consumers paid $1,800 more for a used vehicle in July 2010 than they did a year ago - a 10.3 percent increase from last year (though Cash for Clunkers might have driven up the averages.)
One reason: used car inventory is low, so prices for unsold used cars are increasing.
But just because used cars are now pricier, it doesn't mean that consumers shouldn't buy used.
Purchasing a pre-owned vehicle has a lot of benefits: collision insurance and taxes are lower, and buyers don't have to worry about the values of their cars plummeting when they drive them off dealership lots.
Even if consumers end up paying more than they want for a used vehicle, in the long run, they'll save more.
My Recommendation for Car ShoppersTrueCar, Edmunds, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
New York Tri-State Residents - Important:There is a new car leasing service called Carvoy, available to NY tri-state area residents, which I recommend you try - especially if you hate the stress of haggling with car dealerships. Carvoy provides pre-negotiated lease deals, calculated with taxes and all fees incuded so you know exactly what it will cost. Here is my list of Best Carvoy deals, updated each month.
- Gregg Fidan
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About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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