Going Diesel? Now Is the Best Time to Save on a Used Car
With all the attention hybrid cars get, compared with diesels, I’m surprised to read that they share a fairly minuscule segment of the auto market. Hybrids have about a 2 percent share of the market, while diesels, remarkably, have less than 3.
I’ve made my case for diesels here many times. I prefer them because they are more durable, produce more torque and deliver up to 30 percent better fuel efficiency than their gasoline counterparts. If gas prices rise, and diesel doesn’t rise as much, the extra cost for diesel-powered cars will be worth it. The benefits over hybrids are their long-term durability and no worries about battery replacement.
Diesel cars are gaining in popularity, more new models are entering the market, and used models could be priced as low as they’re going to get for a while.
The Germans have sold diesels here in the States for years. Mercedes-Benz, Volkswagen and BMW have owned the market, but Chevrolet will soon enter with a Cruze diesel and Mazda won’t be far behind with the introduction of a new oil-burning engine. For the people who want the benefits of diesel without the higher price of buying new, the prime time to buy used is here. And it’s quickly going to pass.
A CarGurus study says that used car prices typically hit their lowest average of the year in the period between Thanksgiving and the first week of January. After that, demand increases and prices react by going back up in the New Year. According to the press release,
This year, CarGurus analysts expect prices on used cars, which have been in steady decline since peaking in late August, will bottom out by January 8, 2012, at 4.6% below their August peak, with the most dramatic dip (2%) occurring between Thanksgiving and the first week of January. It is expected that prices will thereafter climb rapidly by as much as 4% by mid-February.
If you’ve been considering a used diesel-powered car, now is the time to hit DealFinder and get the lowest price of the year.
Is there a used diesel model you would consider as your next car?