The sorry state of the economy the past couple of years has actually led to higher prices for used cars, writes Kiplinger. That’s because more people started buying used cars, which tightened the supply while also reducing the number of fresh trade-ins. It may be a couple of years before prices drop again, but Kiplinger has some suggestions for saving money if you plan on buying a used car this year.
First, the cheapest models right now are found among compact and midsize family cars; big trucks and SUVs are “among the highest we’ve seen in years,” an Edmunds analyst told Kiplinger.
Another tip is to expand your search area to within a few hundred or even thousand miles. If you can find a market where the car you want is more plentiful, you might be able to get it at a cheaper price even after delivery costs.
The article also offers a strategy for researching prices, comparison shopping, and deciding whether to go the certified route.
“Bargains in Used Cars” [Kiplinger]