Best End-of-the-Year Deals? Look Toward Used!

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I’ve figured out a pretty solid way to save around five grand on a used car.

I thought about trademarking my method and producing a late-night infomercial to sell it to the masses for only $19.95, but it’s so simple I might as well divulge everything here.

Regular readers may recall the innocent question a week ago that sparked a used car search. I didn’t think I needed a different car at the time, but once that door of possibility opens, it’s hard to close it.

My current car has over 125,000 miles on it and a host of small problems popping up. The cruise control works sporadically, the driver’s side seat heater doesn’t work and, most of all, the car doesn’t hold the 6 people in my family.

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Used-Car Prices Rise Again, Should Go Even Higher

Buy used or hold on to the car you have?

If you’re in the market for a used car, it’s more important than ever to be prepared and do your research. Prices for used vehicles keep going up, which means the longer you wait to pull the trigger, the more you’ll pay.

That doesn’t mean you should buy a car if you don’t really need it. I have a friend, for instance, who owns a 2004 Honda Pilot with just over 100,000 miles on it. He owns it outright and told me he’s starting to think about trading it in for a newer model. To that I answered, “Why on Earth would you do that?”

The Pilot hasn’t given him an ounce of trouble and fits his young family perfectly, and his wife feels safe driving it in the snow. The only reason he could think of to upgrade is because he wants something newer. For some people, I guess, that’s plenty of reason to justify a new car payment. Heck, the car dealers bank on people like my friend, and if that’s how he wishes to spend his money, well, I can think of worse ways.

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The Half-Price Used Car: Possible?

We all hear stories of the deals other people get when car buying. People brag about picking up a car for “under invoice” or knocking $2K off the purchase price during fierce negotiations.

Good deals, to be sure, but what about the mother of all car deals? The kind of sale typically reserved for grocery stores, discount electronic retailers and day-after-Thanksgiving sales… the holy grail of discounts: 50 percent off.

Is it possible to get a car for half off? Would a dealer even consider such an offer?

Absolutely. Sometimes. Maybe.

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