Best Cities To Buy Used Cars
Nearly one year into the COVID-19 pandemic, the used car market continues to shift and recover in response to changes in driving preferences and disruptions to the global supply chain brought on last year.On the supply side, one of the major challenges for the car market in general has been the fact that manufacturers produced fewer new vehicles in the first half of 2020. As many parts of the world shut down in an effort to slow the spread of the virus, car factories were not able to produce new vehicles at their usual rate. This constraint on supply has raised prices in the used car market as car buyers face limited options.Despite increased car prices, the supply of used cars is also higher than it was a year ago by the measure of market days supply, or the number of days it would take to run out of dealer inventory at the current level of demand. One reason for this is that when the pandemic first hit, manufacturers delayed lease returns by incentivizing extensions. Those gently used, highly optioned, low-mileage cars are now coming back into the market, helping to fill up dealer lots. Under normal conditions, this influx of near-new supply would lead to lower prices for consumers, but the reduced availability of new vehicles has more consumers open to the idea of a used car. With more buyers in the market, prices for used vehicles have remained high.
best cities to buy used cars
When you shop for a new or used car, CoPilot helps you know more. We search every car at every dealer so you don't have to, we give you data and insights you won't find anywhere else, and we rank every car so it's easy to find the best car at the best price.
Memorial Day weekend is here and that means a lot of savvy car shoppers will try to capitalize on the best deals. According to an online service that helps compare car prices, shoppers in Michigan looking to get behind the wheel of a used car this weekend may want to rethink heading to the nearest dealership or to Motor City, where the prices are below the national average but definitely not as cheap as it gets in Michigan.
The prices of used cars can vary significantly in counties in the same general geographic area, Chase Disher, product manager for growth and analytics at the company, tells Patch. Knowing that information can empower shoppers.
Autolist, based in the San Francisco area, is a metasearch automotive marketing platform. The company aims to provide the best search experience for finding a new, used or certified pre-owned vehicle.The company has between 5 million and 8 million listings at any given time.
In 2022, however, there may not be many "cheap" cars to speak of. As of this writing, we're facing a shortage of used cars, which has caused their market value to spike to record highs. This makes choosing the right used-car retailer even more critical, as a mistake has never been costlier. You may also need to expand your search further to find a car online or at a brick-and-mortar car dealer.
Remember that you may find used cars for sale that are under recall and not yet repaired: It's not illegal for sellers to offer such cars. Check the vehicle identification number (VIN) at the National Highway Traffic Safety Administration's recall site so you'll know whether you're about to buy a car that you'll then need to take in for the free recall repair.
Use this list as a quick reference guide to point you toward the best place to buy a used car. Each used-car retailer has advantages and disadvantages, so depending on your priority (price? selection? warranty?), several outlets may fit your needs.
Buying a certified pre-owned (CPO) car is a convenient way to find a used car, SUV or truck in excellent condition. CPO vehicles, which are sold from dealerships of the same brand, go through extensive inspections and are reconditioned with factory parts. They also come with the best warranties. General Motors, for example, offers a one-year/12,000-mile bumper-to-bumper warranty and a five-year/100,000-mile powertrain warranty on all of its CPO cars. Our certified program comparison tool can help you see the differences in coverage. But just because they come with warranties doesn't mean they are exactly like new cars. Read "Certified Pre-Owned Cars: A Reality Check" to see what expectations you should have for a CPO car.
The coverage and convenience of a CPO car come at a price. CPO cars are typically the most expensive used-car option. Edmunds data indicates that consumers will pay on average a 6% to 8% premium for a 3-year-old CPO vehicle. One alternative might be to find a car from a private seller that is new enough to still be under warranty.
The remaining used-car inventory falls under this category. These cars don't typically get the same attention that a CPO car would receive but are still given a reasonable inspection. Any major issues are usually fixed before the car is put up for sale. Since dealerships accept trade-ins on a daily basis, you'll have an easy time finding these used cars at a dealer. Most dealership websites should include a link to a free Carfax or AutoCheck report, so make sure to take advantage of that and learn about the vehicle's history.
Some independent used-car lots may specialize in a certain type of car, which can make your selection process easier if you have that type in mind. For example, one place might focus on European luxury makes, while another might specialize in classic cars.
CarMax is technically an independent used-car dealer. But with upwards of 200 stores nationwide, it is the largest used-car seller in the country. You'll find a wide array of late-model cars in a variety of body styles.
Shopping for a car in the private-party market offers a varied selection and a potential opportunity to get the best price, though you sacrifice the convenience of seeing many cars side by side, as you do at dealer lots. Negotiating with a private-party seller is usually much easier than negotiating with a salesperson at a dealership since most car owners haven't received formal sales training. There are many ways to find private-party vehicles. Some of the more popular places to go on the web are Autotrader, Craigslist, CarGurus and eBay Motors.
There may be good used-car candidates on these sites, but you'll have to sift through a number of listings to find one. This is where you'll likely find the lowest prices, but the condition levels of the cars can vary wildly. Many of the car photos you'll see are just plain bad. Some listings have no photos at all. Information on the cars tends to be limited, and you may have to contact the seller to get a VIN, which is what you need to run a vehicle history report. It's not uncommon to encounter cars that have salvage titles, meaning they've likely been in a serious accident. You'll sometimes run across unlicensed car salespeople pretending to be everyday owners. And then there are ads placed by scammers for cars that don't actually exist.
The cheapest city to buy a used car might surprise you, as its cost of living is pretty high. However, Miami, Florida comes in as the cheapest city for used cars. Rounding out the top 5 cheapest cities for used cars are Cleveland, Ohio; Akron, Ohio; Stamford, Connecticut; and New York, New York.
Reporter Paul Brinkmann believes the lower price tag of used cars in Miami might be caused by the large supply of cars from leasing and rentals, combined with the dense population. Economist Jorge Salazar-Carrillo also cites a case of keeping-up-with-the-Joneses. Perhaps some Floridians care more about making a good impression, so they buy cars more often, creating a larger pre-owned market.
Car Gurus found that the West Coast has a stronger concentration of higher used car prices in cities than any other region. The percent difference from the national average for our five most expensive cities are:
We recently reported that a lightly used Subaru Forester compact SUV and Outback midsize SUV are among the best used car picks for shoppers this summer. The Forester and Outback are sought after for their standard all-wheel-drive, fuel mileage, reliability, and safety scores.
The iSeeCars data says you will pay 12.6 percent ($3,705) less if you buy the compact SUV in Duluth, Minnesota, or Superior, Wisconsin. A lightly used Forester sells for around $25,648, while the national average is $29,353 in these cities.
More than three-quarters of reviews left for dealerships in the town were rated as excellent, with just 9.1% being rated as terrible. The town is also one of the cheapest in the nation for used cars, ranking in the top 10 with an average price of 5,161.
Taking third place when it comes to the most expensive places for a used car is Chelmsford, in Essex, with an average price of 13,751. Chelmsford was one of seven cities in the 20 most expensive to be found in the South East of England. This comes as no surprise as the cost of living in the South East is generally higher than in other parts of the country thanks to its proximity to the capital.
The best and worst-reviewed towns and cities were calculated using reviews data from Car Dealer Reviews and we took the places which had the highest percentages of excellent and terrible reviews respectively. 041b061a72