Now a Good Time to Buy Used Car
If you read my Used Car Buying Guide, you'll know that buying a 3 to 5 year old used car and holding onto it for many years is the best way to save maximum money when it comes to car ownership. A "slightly" used car which is at least 3 years old gives you the best compromise when it comes to reliability vs cost.
Basically, a 3 or 4 year old car should still be highly reliable, while also having depreciated by at least 50% from MSRP.
Now the good news - this week Edmunds.com released a report showing that NOW is the best buyer's market they've seen in a very long time for 3-4 year old used cars. This is due to a glut of vehicles coming off lease, and residual values taking a hit.
My prediction is that prices for these vehicles will continue heading down even further, so if you can wait a few more months you should have even more to choose from. This is because most lease deals are signed in the fall and towards the end of the year, which means more lease returns in later months.
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid
About The Author
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.Latest Weekly Car Buying Tips
May 2024
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- Cars With the Largest Rebates May 16, 2024
- Which Cars Better to Lease or Buy May 16, 2024
- Real Prices of Pickup Trucks May 16, 2024
- Best 0% Finance Deals May 2024 May 12, 2024
- Best Bang for Your Buck Lease Deals May 09, 2024
- Best Electric, Hybrid Lease Deals May 09, 2024
- Biggest Discounts on New Cars May 09, 2024
- Biggest Price Drops on New Cars (Spring 2024) May 02, 2024
- Best Car Deals Around the Country May 02, 2024
- Real Prices of Compact Cars May 02, 2024
- New Cars You Should Wait to Buy May 02, 2024
April 2024
- New Cars with the Most Available Inventory Apr 25, 2024
- Best Car Deals by Category Apr 25, 2024
- Top 100 Cheapest New Cars for 2024 Apr 25, 2024
- Real Prices of New Compact SUVs Apr 25, 2024
- Worst Cars to Lease Right Now Apr 18, 2024
- Real Prices of Midsize Cars Apr 18, 2024
- Price Comparison of Subcompact SUVs Apr 11, 2024
- Real Prices of Large SUVs Apr 04, 2024
- Largest Hidden Dealer Rebates Apr 04, 2024