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The Best Used Car Bargains
June 4, 2015If you're in the market for a compact or subcompact used car, now might be the best time to buy. That's because right now car buyers are paying 2% and 2.8% less, respectively, for those types of vehicles than they did a year ago.
And compacts and subcompacts are not the only used car segment seeing price drops on vehicles five years old or younger, according to Edmunds.com. Prices on minivans are also 2% lower than they were a year ago. Midsize cars are seeing a 1.6% price drop, while prices on large cars are down by 0.5%. And if you've been itching to buy an entry-level sports car, shoppers for those vehicles are seeing a 2.1% price decrease.
On the flipside, certain used car segments are seeing price increases on vehicles that are five years old or less. For instance, used vans saw the largest price increase, up 6.6% compared to last year. Pricing on trucks are up 4.9%, while large SUVs are seeing a 3% increase.
Below is a look at all how all vehicle segments fared in the first quarter of 2015. As always, I recommend you use TrueCar No Haggle and CarsDirect to see vehicle pricing in your local area.
Image courtesy Edmunds.com
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe 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 NetworkSelect 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 / CarsDirectTrueCar, 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 ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
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About The AuthorGregg 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.
I welcome your car buying questions. Email Me and I'll be glad to answer them!