Written by a Guest Blogger
Right after the 2008 housing and market collapse, many people were in such poor financial shape that they could only afford used cars. The rise in demand greatly increased prices. Now, though, with the economy beginning to look up, pressure on the market has eased. The fact that new cars are selling at healthy discounts is also keeping used-car prices depressed.
The market offers some great deals now. To make sure that you get the best deal available, you need to learn a little about the used-car market.
Buying a Used Car Is an Excellent Idea
The manufacture of new cars greatly pollutes the environment. Heading to the used-car dealership each time you need a car, then, is the environmentally friendly thing to do.
A used car also can save you a fantastic amount of money. Buying a new vehicle, your investment loses value the minute you drive off the lot. Depreciation works against you. This doesn’t happen with a used car. Your car’s price remains intact. If you always buy used, you let others pay for the depreciation. You save money.
Learn to Price a Used Car
Every motor vehicle manufactured since 1981 comes with a unique Vehicle Identification Number or VIN. You can use this number to check online for the kind of prices you should expect to pay for it. Tools, such as MyVinny, give you average wholesale prices for every used car. When you find a car that you like, you can use the tool to find the lowest possible price that it could sell for. You can add dealership margins to it and arrive at a number that you can aim for when you haggle.
Check Out New Car Dealerships
You don’t necessarily need to head to a used-car dealership for deal on a used car. New car dealerships have used cars, too — ones that they’ve accepted as trade-ins. Usually they sell these cars to used-car dealerships at low prices. If they sell directly to end users, they can make more money, even if they ask for less than a used-car dealership. So trying a new car dealership can be a good idea.
Consider Buying a Slightly Flood-Damaged Vehicle
If you’ve been reading up about buying used cars, you’ve probably often read warnings about crooked dealerships selling flood damaged cars without full disclosure. While it’s good advice, it’s also important to remember that flood damage doesn’t automatically make a car useless. A car that has only light flood damage could work perfectly well. As long as you can be sure that the car wasn’t submerged deeply enough to have water get into the electronics or the engine, the car may be okay. You’ll get it at a massive discount.
You need to be able to trust the seller of a flood-damaged car when they tell you about the kind of damage the car has. SalvageAutosAuction.com is one of the most trusted names in this business. Every car listed has complete and accurate information on damage levels.
It makes the most sense to buy a salvage car if you don’t plan to keep it for 100,000 miles. If you simply need a car for light use for a couple of years, you could save a lot.
About the Blogger
Cecil Owen is a motoring enthusiast with a motor mechanic background. He always enjoys tinkering with all things mechanical and his articles mainly focus on ways to not pay more that is needed when it comes to autos and parts.