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Used Car Prices Rise Compared to Last Year

Used Car Prices Everything old is new again. Or at least as expensive.

According to Edmunds, the average price of a three-year old car is 11% higher than it was last year (typically, year-over-year increases are only 3.5 percent). In fact, used cars of all model years are 5.5% more expensive than 2009.

GM's used vehicles seem to have the highest increases, with used cars and trucks up 7.8 percent in the past year, a remarkable feat considering the brand recently emerged from bankruptcy.

For bargain hunters, buying a used car is still financially sound, but be aware that, given all the new car incentives, some new cars are now cheaper than used.

Though higher used car sticker prices may appear at the dealership, that doesn't mean you can't negotiate. Many dealerships price their used cars higher, allowing for haggling. How much dealers are willing to deal varies by vehicle and dealership.






3 Steps Every Car Buyer Needs to Take to Save Maximum Money

The key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:

Step 1 Get Prices From My Trusted Network

Select the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Select Vehicle to Get Local Pricing

Step 2 Get Prices From TrueCar / CarsDirect

TrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.

Step 3 Complete my Checklist

Follow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan

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About The Author

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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