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Used Car Prices Have Hit Their Peak

Used vehicle prices have finally stopped their upward trajectory and are expected to head a little lower from here as the year progresses.

Most analyts were expecting prices to peak and head lower beginning in June, but the Manheim Used Vehicle Value Index shows that prices started heading down in April. Used cars have commanded higher prices over the last couple of years due to limited inventory and high gas prices, which boosts demand for fuel-efficient vehicles.

If you're shopping for a new car, now's a good time to consider selling your trade-in while used car prices are at their peak. If you're looking to buy a used car, prices usually hit bottom between December and January.

I don't expect used car prices to head too much lower since there's still a lot of demand, but timing your purchase towards the end of the year might save you a few hundred dollars.






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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