How to make the most of falling used car prices | Features
The past few years have been rough for used-vehicle buyers due to higher prices, less inventory and rising interest rates.
Compared to what people normally expect to pay from buying used, it’s fair to say the market has been discouraging. But there seems to be at least a dim light at the end of the tunnel according to Edmunds’ latest Used Vehicle Report.
kAmt5>F?5D 7@F?5 E96 2G6C286 EC2?D24E:@? AC:46 7@C 2 FD65 G69:4=6 H2D Sag[hbd 😕 E96 E9:C5 BF2CE6C] (9:=6 E92E’D DE:== H2J 23@G6 E96 2G6C286 @7 Sa_[_gd 7C@> 23@FE 7:G6 J62CD 28@[ :E 92D 5C@AA65 7C@> =2DE J62C’D C64@C5 9:89] x? 255:E:@?[ ?6H G69:4=6 AC:46D 4@?E:?F6 E@ C:D6[ >2<:?8 FD65 G69:4=6D >@C6 2AA62=:?8 7@C D9@AA6CD @? 2 D>2==6C 3F586E] qC@25=J[ E96 5:776C6?46 😕 2G6C286 AC:46 36EH66? ?6H 2?5 FD65 😀 324< E@ 9@H :E H2D 😕 a_`h] tG6? D@[ :E’D DE:== H:D6 7@C AC@DA64E:G6 FD65 G69:4=6 3FJ6CD E@ >2<6 DFC6 E96J’C6 86EE:?8 E96 36DE G2=F6 7@C E96:C >@?6J] %96 6IA6CED 2E t5>F?5D 92G6 4@>A:=65 D:I :>A@CE2?E E:AD E@ 96=A J@F H:E9 J@FC ?6IE AFC492D6]k^Am
k9bmr@>A2C6 AC:46D E@ 2G@:5 @G6CA2J:?8k^9bm
kAmu:?5:?8 @FE :7 J@F’C6 86EE:?8 2 8@@5 AC:46 @? 2 FD65 42C :D?’E 2D 92C5 2D J@F E9:?<] %96C6 2C6 >F=E:A=6 @?=:?6 D:E6D =:<6 t5>F?5D E92E 4@>A2C6 E96 AC:46 @7 E96 G69:4=6 J@F 2C6 D9@AA:?8 7@C H:E9 @E96CD E92E 2C6 7@C D2=6 😕 J@FC 2C62] qJ D:>A=J D62C49:?8 7@C E96 >2<6 2?5 >@56= J@F H2?E[ J@F’== <?@H :7 J@F 2C6 A2J:?8 23@G6[ 36=@H @C 2E E96 >2C<6E G2=F6 @7 E96 G69:4=6]k^Am
k9bmtIA2?5 J@FC D62C49k^9bm
kAm*@F >:89E 7:?5 2 36EE6C 562= :7 J@F 3C@256? J@FC D62C49 36J@?5 =@42= 562=6CD9:AD] x?DE625 @7 5C:G:?8 E@ =@42= 562=6CD9:AD[ =@@< 2E @?=:?6 D:E6D 7:CDE E@ <?@H H92E 562=6CD9:AD 92G6 😕 DE@4< 367@C6 J@F 8@ E96C6]k^Am
kAm*@F 42? 25;FDE E96 D62C49 A2C2>6E6CD E@ :?4=F56 ?62C3J 4:E:6D 2?5 4@F?E:6D E92E >:89E 92G6 36EE6C 562=D]k^Am
k9bmr@?D:56C @E96C EJA6D @7 G69:4=6Dk^9bm
kAmx7 E96C6 😀 2 A2CE:4F=2C 3C2?5[ 286 2?5 >:=6286 J@F EJA:42==J 2:> 7@C H96? 3FJ:?8 2 FD65 G69:4=6[ J@F >:89E H2?E E@ C64@?D:56C J@FC FDF2= 2AAC@249]k^Am
kAm(:E9 9:896C AC:46D 2?5 :?E6C6DE C2E6D[ @AE:?8 7@C 2 9:896C\>:=6286 @C @=56C >@56= H:== 96=A 86E J@F E@ E96 >@?E9=J A2J>6?E J@F H2?E] w@H6G6C[ :7 J@F 564:56 E@ 5@ D@[ >2<6 DFC6 E@ 86E 2 G69:4=6 9:DE@CJ C6A@CE E@ 6?DFC6 :E 92D 2 4=62? E:E=6 2?5 92D 925 C68F=2C >2:?E6?2?46 G:D:ED] p AC6AFC492D6 :?DA64E:@? 7C@> 2 >6492?:4 42? 2=D@ 96=A DA@E A@E6?E:2= :DDF6D]k^Am
kAmx7 J@F AC676C 2 ?62C\?6H G69:4=6[ E96? 4@?D:56C 2 5:776C6?E EJA6 @7 G69:4=6 @C 3C2?5 E@ D2G6 >@?6J] %CF4<D 2?5 $&’D 2C6 A@AF=2C 2?5 @7E6? 56>2?5 2 9:896C AC:46 E92? D652?D @C DF34@>A24E $&’D] x7 J@F 5@?’E ?665 2 ECF4< @C =2C86 $&'[ J@F 42? D2G6 2 =@E @7 >@?6J 3J 86EE:?8 D@>6E9:?8 D>2==6C]k^Am
k9bmv6E AC62AAC@G65 7@C 2? 2FE@ =@2?k^9bm
kAmv6EE:?8 E96 =@H6DE :?E6C6DE C2E6 A@DD:3=6 H:== =@H6C J@FC >@?E9=J A2J>6?ED]k^Am
kAmx?DE625 @7 E2<:?8 E96 562=6CD9:A’D H@C5 E92E :E’D @776C:?8 E96 36DE C2E6[ 86E AC62AAC@G65 3J 2 =@42= 32?<[ 4C65:E F?:@? @C @?=:?6 =6?56C 367@C6 8@:?8 E@ E96 562=6CD9:A]k^Am
kAm%96? 4@>A2C6 2== E96 C2E6D E@ 6?DFC6 J@F’C6 86EE:?8 E96 =@H6DE @?6]k^Am
kAmx7 J@F 2C6?’E 92AAJ H:E9 E96 C2E6 J@F C646:G65[ J@F >:89E 36 23=6 E@ C67:?2?46 E96 =@2? =2E6C :7 C2E6D 5C@A]k^Am
k9bm|2I:>:K6 E96 G2=F6 @7 J@FC EC256\:?k^9bm
kAm%96C6’D 8@@5 ?6HD :7 J@F 4FCC6?E=J @H? 2 42C H:E9 6BF:EJ] &D65 42C AC:46D 2C6 DE:== 9:89[ 3FE E92E >62?D J@F D9@F=5 86E >@C6 7@C J@FC 42C[ H9:49 H:== 96=A @77D6E E96 9:896C AFC492D6 AC:46 @7 J@FC ?6IE G69:4=6]k^Am
kAmv6E 2 7C66 G69:4=6 2AAC2:D2= E9C@F89 @?=:?6 D:E6D =:<6 t5>F?5D 367@C6 J@F 86E 2 EC256\:? @776C 7C@> J@FC 562=6CD9:A E@ >2<6 DFC6 J@F’C6 86EE:?8 2 72:C G2=F6] x7 J@F 5@?’E 92G6 2 EC256\:? @C :7 :E 5@6D?’E 92G6 6BF:EJ[ 4@?D:56C AFEE:?8 >@C6 >@?6J 5@H? E@ 86E E96 >@?E9=J A2J>6?E J@F H2?E]k^Am
k9bm$9@A 46CE:7:65 AC6\@H?65k^9bm
kAmxE >:89E 36 92C56C E@ 7:?5 46CE:7:65 AC6\@H?65 Wr!~X G69:4=6D 😕 E@52J’D >2C<6E[ 3FE :7 J@F =@42E6 @?6 H:E9:? J@FC 3F586E[ H6 C64@>>6?5 8@:?8 7@C :E]k^Am
kAm}@E @?=J 5@ r!~ G69:4=6D F?56C8@ E9@C@F89 :?DA64E:@?D 2?5 255:E:@?2= C64@?5:E:@?:?8 2?5 @776C 6IE6?565 H2CC2?E:6D[ E96J 4@F=5 A@E6?E:2==J BF2=:7J 7@C :?E6C6DE C2E6D D:>:=2C E@ E9@D6 7@C ?6H 42CD] p=E9@F89 r!~ G69:4=6D 2C6 >@C6 6IA6?D:G6[ E96 =@H6C :?E6C6DE C2E6 2?5 =@?86C H2CC2?EJ 4@F=5 @77D6E E96 9:896C AC:46 @G6C E96 4@FCD6 @7 @H?6CD9:A]k^Am
kAmkDEC@?8mts|&}s$ $p*$ik^DEC@?8m |@DE FD65\42C D9@AA6CD H:== 92G6 2 >@C6 5:77:4F=E E:>6 7:?5:?8 E96 562= E96J H2?E 😕 a_ab 2?5 a_ac]k^Am
kAmqFE :7 J@F >2<6 2 76H 4@>AC@>:D6D @? E96 EJA6 @7 G69:4=6 J@F H2?E[ C6D62C49 9@H >F49 J@FC EC256\:? 😀 H@CE9[ 2?5 4@>A2C6 :?E6C6DE C2E6D 2?5 =@42= AC:46D[ J@F 42? 766= >F49 36EE6C 23@FE J@FC AFC492D6]k^Am
link
