Used Car Prices to Hit Rock Bottom Soon
According to both KBB and CarGurus.com, used car prices are expected to drop by a further 3 to 4 percent between now and the first week of next year.
Prices peaked in August and are expected to hit rock bottom on January 8, 2012.
Historically, used car prices start climbing rapidly between January and February, sometimes by as much as 4%.
On a $20,000 used car, timing your purchase could save you an average of $800 - which is definitely not pocket change.
My Recommendation for Car ShoppersTrueCar No-Haggle, CarsDirect, and Ryde Shopper 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.
- Gregg Fidan
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