May 20, 2024
Used Car Shopping

Be Resourceful When Shopping For Used Cars

One of the most unexpected effects of the COVID-19 pandemic is that used cars are in higher demand than ever before. Thanks to the limited supply of used cars at dealerships across the country, prices are also rising to meet the demand.

If you don’t need a car right now, it’s easy to hold off shopping until things get back to normal. Sadly, that’s not the reality for many families that need to replace or upgrade a vehicle right away. If you find yourself browsing used cars for sale in this current market, there are a few things to keep in mind to ensure you make the most of a weird situation.

Consider a Long-Term Ride

When used cars are low-cost options, there’s nothing wrong with updating your car every once in a while. Now that pre-owned vehicles are in higher demand and more expensive, shoppers should consider buying something that will stick with them for the long haul.

Before you make a run at a used car, study its history. Most dealers offer a complimentary history report, but you can purchase one of your own as well. It might even be worth having a separate mechanic take a look. If you’re going to pay more for a car, you’d better make sure it has the chance to last for a while.

Used Isn’t The Only Way To Go

While shopping for a used car is often a great way to save some coin, that may not always be the case. The high demand for pre-owned options has led to higher prices. According to a report from iSeeCars.com, a slightly used Honda Accord can cost up to 5% more on average than the MSRP on a brand-new Accord in some areas.

Buying a new car isn’t exactly easy these days, but the financial difference may be so little that it’s worth waiting for your vehicle of choice to be ready.

Consider Something Different

If you’re a driver who only likes certain makes and models, it might take longer to find the used car you want. More importantly, that shopper loses all negotiating power and may not get a great deal.

Shoppers may need to consider older models, different trims, or alternative brands altogether. It’s also worth expanding the radius of your search. It might seem like going 300 miles away isn’t ideal, but saving $1,000 or more could certainly make it worth the trip.

Don’t Give Up

Just because the market is in flux right now doesn’t mean you should throw in the shop towel. Luckily, most dealerships keep an up-to-date inventory online, so you can start used car shopping from the comfort of your couch.

Combing through all of the used cars out there to find the one that works for your lifestyle and budget is going to take a little more worth today than it did a couple of years ago. When you finally bring home that new-to-you ride, the work will be totally worth it.

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