buying How to Buy a Used Car
A small victory: Used-car prices slip from dizzy heights
A small victory: Used-car prices slip from dizzy heights (Associated Press) Your browser does not support this video Until the pandemic flattened the economy in March 2020 and shrank the supply of both new and used vehicles, average wholesale used vehicle prices paid by dealers rose only a little every year. Average prices briefly fell in April last year, only to soar over 60% to a peak in May this year, according to data kept by Manheim, a group of auction houses where dealers buy vehicles. Any decline, however slight, would represent welcome relief for buyers.
Whenis too expensive or the prospect of significant depreciation is too much to stomach, the vast used-car market is the best place to turn. Just because a pre-owned car, truck, or SUV isn't brand-spanking new doesn't mean it's without its . They're almost always more affordable, some come with a warranty, and many allow shoppers to get exactly what they want. Research is an important part of any vehicle purchase; buying used, whether from a dealership or a private party, requires extra investigation to ensure your prospective purchase is reliable. We've assembled this guide to help you navigate the process by identifying the pros and cons of purchasing a pre-owned vehicle and answering the questions that will inevitably arise along the way.
How To Spot Water Damage on a Flooded Used Car
How To Spot Water Damage on a Flooded Used CarTo make matters worse, the damaged goods continue to wreak havoc on the public beyond the time and location of the event through various methods of fraud and deception. One of the most common examples of this ill will is a flood-damaged vehicle listed for sale as a clean used car by the most unscrupulous of individuals.
Is a Used Car Right For Me?
Theversus a new car usually comes down to cost. Since pre-owned vehicles are cheaper than new ones, comparatively speaking, they make more sense for shoppers on a budget as well as people who are simply shrewd spenders. For instance, "nearly new" vehicles–as in pre-owned vehicles from the previous model year–typically provide several thousand dollars of savings versus an identical version from the current model year. Buying used at this point in time is particularly challenging, though, because the worldwide chip shortage has caused dealers' new-car inventories to dwindle and used-car prices to skyrocket. Still, the basics of careful shopping remain the same.
Many people who want to buy used can't afford a "nearly new" or certified pre-owned (CPO) vehicle. Luckily, there are a variety of alternatives for people who can't go either of those two routes. Not only is buying an older used car a good way to save money, but it's also a way for discerning shoppers to find a better equipped or a fancier model for less than it would've cost them new.
Used car buyers turn to even older vehicles to save a buck amid rising prices
In 2021, most used car buyers are now looking at cars seven years old on average.According to the data, the average age of a used vehicle Americans purchased in the first two quarters of 2020 hovered around 5.8 years old. Year-over-year in 2021, the age jumped to 7 years flat on average. In some metro areas, the average age of vehicles on which shoppers kicked the tires more than doubled. New Orleans, for example, ranked at the top with potential borrowers shopping 16-year-old cars on average this year. More often than not, older cars cost less, and it's clear Americans are looking to turn back the clock to land an affordable car.
Certified Pre-Owned: Real or Rip-Off?
, which typically ranges between two and three years old and has relatively low mileage, is considerably more affordable than buying a brand-new version of the same model. Since CPOs come with a manufacturer-backed warranty and a thorough inspection by a factory-trained mechanic, they can provide similar peace of mind and protection from catastrophic issues as vehicles fresh off of the assembly line. CPOs are also often the only type of used vehicle that can be leased.
5000 miles, six friends, three cars, and one clutch swap make for an epic Bonneville road trip
The Iron Lords car club is a tight-knit group that favors traditional hot rods. Their idea of a good time is joining a convoy of cars and making the yearly pilgrimage to the racing holy land that is Bonneville Speed Week. This group of six friends from the club have known each other since about […] The post 5000 miles, six friends, three cars, and one clutch swap make for an epic Bonneville road trip appeared first on Hagerty Media. Looking to purchase a car? Find your match on the MSN Autos Marketplace
Most automakers have a CPO program, which means that buyers have a wide selection of models to chose from, depending on local inventory. While a CPO vehicle is more expensive than buying an equivalent non-CPO model, the added costs offset the risks, especially since some include a vehicle-return policy. However, always make sure to understand the terms as CPO programs vary among brands.
Video: Car specs explained so you can understand a car before you buy it (CNET)
Where is Best to Buy a Used Car?
With the proliferation of used-car shopping sites–of varying quality and credibility, mind you–there are more ways than ever to buy a pre-owned vehicle.and make a purchase face-to-face if that's what they prefer. Simply put, choosing the best place to buy a used car comes down to personal preference, and that often includes the advantages and disadvantages to both buying online or in-person.
Tested: 2022 Honda Civic vs. the Compact-Sedan Competition
Honda's 11th-generation Civic takes on sedan rivals from Hyundai, Mazda, Nissan, Toyota, and VW. © Marc Urbano - Car and Driver 2021 Mazda 3 Premium The Mazda 3 similarly offers multiple powertrains, including a price-leader 2.0-liter with 155 horsepower and a 250-hp turbocharged 2.5-liter, but we went with the mainstay of the lineup: a naturally aspirated 2.5-liter four with 186 horsepower. The 3 also offers all-wheel drive—unusual for this segment—and while that feature will surely sell in the Snowbelt, it's not what we would have preferred here.
Shoppers looking to buy certified pre-owned (CPO) can visit their local dealership or the dealer's website.let you shop from the comfort of your home while still enjoying the benefits of their financing and trade-in offers. Less risk-averse shoppers can peruse websites such as Craigslist for a used vehicle of their liking, but this route typically requires the most research.
Choosing the Right Used Car
Once the decision to buy a used vehicle is made, your attention should turn to choosing the right one. Most importantly, the list of candidates and the final choice should be determined based on your budget. After finding a comfortably affordable price range, the search can begin by identifying the type of vehicle or focusing on specific makes and models.
The risks associated with buying a used vehicle can scare people off. And buyers with bad credit or past financial troubles can be. However, by avoiding predatory buy-here, pay-here (BHPH) dealers as well as understanding and preparing for the work that's involved with buying a pre-owned vehicle, the experience can be a positive one, albeit it one with varying levels of risk.
How to Buy a Car Right Now, Without Overpaying
If you’ve driven by a car dealership lately, you’ve seen it with your own eyes: There just aren’t many cars available right now. Continuing effects from the COVID-19 pandemic are pummeling automakers with parts shortages and other production disruptions. As auto plant shutdowns drag on, the number of cars on dealer lots continues to dwindle. At the same time, demand for new cars continues to surge. More shoppers chasing fewer new cars means one thing: Skyrocketing prices for new vehicles. Prices of used cars have risen substantially in turn, as many new car buyers have turned to the pre-owned vehicle market.
Selling Your Own Car: Trade-in Vs. Selling it Yourself
While some people are searching the used-car market for their first vehicle, many are also shopping for a replacement or an upgrade from their current wheels. Depending on the condition and value of that vehicle, dealers will allow shoppers to trade it in and apply the credit to the next vehicle purchase.
This method is often easier than selling it yourself, but it's not uncommon forfor more money than they'll earn as a trade-in. It just depends on how much work the seller is willing to put in to maximize the vehicle's desirability and worth.
Tesla FSD 'issues' in 10.3 update result in rollback, before apparent fix .
Tesla attempted to update its driver-assist system beta software, but it apparently caused a lot of trouble for the company and drivers.According to Tesla owners on social media, cars were opting out of various active safety features, such as automatic emergency braking and forward collision warning without the driver's input. In addition, other drivers mentioned issues with the forward collision warning blaring without any immediate danger in sight. Perhaps worst of all, Teslas began applying the brakes for no reason whatsoever, according to other social media reports.