Used Car Prices Should Remain High in 2012
The number of used cars available today is dependant on the number of new cars that were sold in the past 3 years.
There were only 10.3 million and 11.6 million new cars sold in 2009 and 2010, compared to average levels of 16 million in prior years.
To make matters worse, leasing took a huge nosedive, so there are few lease-returns coming back right now.
The good news is that higher used car prices make new cars more attractive. The year-over-year depreciation rate on 2010 models was only 6.6%.
Some experts are predicting increased incentives on new vehicles during the first quarter as Honda and Toyota try to gain back market lost market share.
If you currently have a used car you want to trade-in or sell for a new one, this is a good year to do so.
Used car prices are expected to keep increasing from now until summer.
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).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
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 2022
- Top 100 Cheapest Lease Deals May 26, 2022
- Biggest Discounts on New Cars May 26, 2022
- Cars With the Largest Rebates May 26, 2022
- Real Prices of Midsize SUVs May 26, 2022
- Best Car Deals by Category May 19, 2022
- Which Cars Better to Lease or Buy May 19, 2022
- New Cars You Should Wait to Buy May 19, 2022
- Real Prices of Midsize Cars May 19, 2022
- Best Bang for Your Buck Lease Deals May 12, 2022
- Best Electric, Hybrid Lease Deals May 12, 2022
- Top 100 Cheapest New Cars May 12, 2022
- Real Prices of Pickup Trucks May 12, 2022
- Best 0% Finance Deals May 2022 May 05, 2022
- Best Car Deals Around the Country May 05, 2022
- Real Prices of Large SUVs May 05, 2022
- Largest Hidden Dealer Rebates May 05, 2022
April 2022
- Worst Cars to Lease Right Now Apr 28, 2022
- Real Prices of New Compact SUVs Apr 28, 2022
- Real Prices of Compact Cars Apr 21, 2022
- Price Comparison of Subcompact SUVs Apr 14, 2022
