You’re About to Save Money on a Used Car

There’s a perfect storm of conditions coming together to ensure that car buyers can walk away with the deal of a lifetime on a late-model used car.

It began in 2014, when automakers wanted to jump-start their sales by offering crazy low lease terms to lure folks into dealerships. It worked and new car sales and leases have increased steadily until this year.

The momentum of new car sales is starting to slow, partly because the cars leased in 2014 and 2015 are now coming off lease. In fact, an estimated 12 million low-mileage vehicles will come off lease by the end of 2019. Continue reading >>>

Bad News for Finance Company Means Good Deals on Used Cars

Following financial news is about as invigorating as watching cantaloupe ripen, which is why the vast majority of us don’t include it as a regular pastime.

Financial developments, though, can have lasting impacts on our lives and affect the ease with which we buy houses, cars, and other items that typically require financing. Trends in the automotive finance industry can also provide a glimpse into the future of car prices and help us find the perfect timing for purchasing a new or used car.

With that in mind, we have some interesting news to share from Ally Financial, formerly GMAC, that might be good news for used-car shoppers who love to take home a great deal.

The news is not so great if you’re an automaker, a dealership, or the CEO of Ally. Continue reading >>>

The Best 2014s on the Used-Car Market

2014 Honda Odyssey

Let’s say you are one of the millions of Americans who are in the market for a used car. Given that you’re reading a car-shopping website’s blog, that probably isn’t a huge stretch of the imagination. With 2014 models coming off lease, now is an excellent time to buy a used car that still has some of its youthfulness and shine left. So we decided to take a look at how some strong 2014 models have fared since we first looked at them critically when they started rolling off the assembly line. A good deal of what we had to say when we first looked at these cars brand new probably still has a lot of value. Continue reading >>>

When Used Cars Come With Extra Surprises

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This is a true story: A friend had purchased a new-to-her Honda CR-V. She was instantly in love with the car, a spotless low-mileage white 2006 model. After a few days of driving, however, she started to notice a peculiar smell. The odor worsened over the coming days until it became so offensive in the summer heat that she had to drive with the windows down.

She scoured the car for the source of the smell with no luck until, one day, she discovered a rotting tuna sandwich under the driver’s seat.

It’s not uncommon to find forgotten possessions in used cars, but they normally amount to some loose change or stray crayons.

A man in Kentucky, though, may have won the award for the most interesting find yet. Continue reading >>>

Why I Regret Buying a Porsche

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About a year ago, I bought a Porsche.

I probably should have listened to my father-in-law, who has raced Porsches and owned roughly eleven 911s. This guy has experience and told me that I’d probably regret the purchase.

“Getting an older 911 is risky,” he said. “They are expensive to maintain and repair, and there will always be something that needs to be fixed. Don’t do it. Get a Miata or something instead.”

Well, me being the defiant, brand-driven, performance type didn’t care much for that advice. So I went out and bought a 2002 Porsche 996 911 Targa. Those low-slung Porsche looks, that Stuttgart logo, and the trademark purr of a Porsche engine were all it took to convince me to sign up for more than just a couple years of Porsche payments.

I should have listened to my father-in-law.

Continue reading >>>

Are We Always Passively Shopping for Cars?

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Whether you’re aware of it or not, you’re always shopping for a new car.

You can be casually scrolling through Facebook, thinking only of cat videos and the most recent “Game of Thrones” episode, when a post from a car dealer goes by featuring a shiny new Ford Explorer. You might wonder, even for a moment, if the new rig would make for a good replacement for your aging Honda Pilot.

Or maybe that first glimmer of desire for a different car appears when a friend posts photos of his or her new GMC Acadia.

Whatever the source of inspiration, you might start wondering if you should consider buying a car. At the very least, you’ll start thinking about the type of car you’ll want when the time comes to make a purchase.

Perhaps you’ll click on the dealer’s link out of curiosity, or even (innocently) begin a search inspired by your friend’s new car.

Even though you didn’t think you were in the market, a different car suddenly becomes a very real possibility. This is called “passive shopping,” and a new study suggests that social media has created an environment in which we’re doing it all the time.

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Use the Drop in Subcompact Prices to Your Advantage

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Looking for good, basic transportation? You can’t do much better than the used subcompact market, whether you’re searching for a used car or crossover.

But don’t think you’ll save only in the subcompact used-car market. Smart maneuvering could afford you savings in other segments as well….

According to the latest research from Black Book, which evaluates the used-car market by attending hundreds of used-car auctions a week, both used cars and crossovers have shown price drops far exceeding anything else in the used-car universe.

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Buyers Want Used Cars That Will Last a Decade

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There’s an interesting quirk happening in used car buying that could affect new car sales for years to come. Almost half of all buyers want the car they buy to last at least 10 years.

The survey from AutoMD.com showed the majority of buyers are thinking pre-owned, or what we mortals would call used cars, crossovers, SUVs, and pickups. Price was the most important factor, but so was making sure the car would last a decade.

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5 Things to Know About Buy Here, Pay Here Dealers

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This Connecticut Buy Here, Pay Here dealer has cornered the market on used Suzukis.

There’s nothing inherently bad about Buy Here, Pay Here dealers. They provide a service to those automotive buyers without good credit who sometimes need a used car in a hurry.

However, it’s important to keep in mind most Buy Here, Pay Here dealers (BHPH dealers) aren’t in business to establish long-term relationships. They’re trying to make the most profit they can from financing used cars.

Here are five things you need to know before purchasing a used car from a BHPH dealer.

Continue reading >>>