Vehicle sales are increasing in the United States year-by-year; there were over one million more vehicles sold in 2014 than the previous year. The addition of new technological features in new cars has lead to a record high average cost of $32,386 for new vehicles in 2014. Conversely, the forecast for used car prices by 2016 is expected to decrease 2014’s average price by 7% from $16,025 to just under $15,000. Since the average age of vehicles on the road today is set at 11 years, it may be time to look into a newer used car dealership to see where your money can take you.
Don’t you just hate it when a company makes a certain product only to discontinue it? If you like a particular make and model of vehicle, you are not bound to the laws of consumer demand so long as you can find a used car model. Up to 84% of consumers want to buy their car in person, but by researching vehicle availability in your area you can determine your options and easily compare price.
Naturally, used cars are bound to cost less than new cars; the exact amount is determined by the seller however. Finding a vehicle is only half of the battle since most people don’t have the funds to purchase a vehicle on hand. Finding a money lender with low interest rates is ideal as many lenders require 10-20% down for those taking out a car loan; most car leases require anywhere from $0 to several thousand up front, although the price of the down payment is negotiable.
While the unpredictability of a used car may turn some off, dealer-backed vehicles usually come with some kind of warranty just like a new car. Newer used cars bought at car dealerships sometimes come with manufacturer offered used-car programs that work just like limited warranties. With enough patience your ideal used car for sale is sure to show up in just a matter of time.