Used Car Prices Keep Going Up
Most people think that a car's value depreciates over time.
But analysts discovered that the average used-car price is up 10% versus last year, thanks to tight supply and high demand.
Hyundai was the brand with the greatest increase in used prices at 22%.
As for increase in models, the Chevrolet Camaro came in at the top, seeing a $2,312 or 16% increase versus the year before.
The second-place finisher, the Ford F-150, was up 14% over last year.
While used-car buyers will likely feel a pinch when they buy, both new and used buyers will see a benefit if they're trading in a car for their next purchase.
The higher the used car prices go, the more attractive it becomes to buy a new car since the price difference is less.
If you're the type of car shopper who never considers buying new, now might be the time to at least comparison shop.
My Recommendation for Car ShoppersTrueCar No-Haggle, Edmunds Price Promise, 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.
California Residents - Important:There is a new online car buying service called Roadster, available only to California residents, which I highly recommend you try - especially if you hate the stress of haggling with a car salesman. They provide an expert concierge who negotiates the price of the car and delivers it to your home with zero hassle - you never have to interact with a dealership. Here is my in-depth review of Roadster and why I recommend it.
- Gregg Fidan
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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