How to Beat the Recent High Used Car Prices in Anderson?
It is no news (or it is all over the news) that used car prices have hit record highs recently, especially after the coronavirus pandemic. For the first time ever, the average prices soared to over $22,500 and the rising trend is showing no signs of coming down. Car dealerships in Anderson, SC are complaining of dry supply, and customers all across the state are worried about losing money. The used car market is in a disarray.
But this does not mean that you have to wait out this phase. You do not have to postpone buying a used car just because the prices are high and the media is turning the phenomenon into something ominous. Yes, the average prices are rising but you can beat that by employing the following tactics. Plan and strategize instead of wait and watch.
1. The best time to trade in your old car
High used car prices also mean that you will get a higher resale value as compared to other times. You can use this opportunity to visit buy here pay here car lots that have trade-in offers and retrieve high prices on your old car. Plus, given that used car dealerships are facing a supply crisis, many will offer you great rates to absorb your car, provided it is in perfect condition. The best, and probably the most effective, way to beat high used car prices is to trade-in. The amount you pay remains constant as your high sell price offsets the effect of the high cost price.
2. Explore hatchbacks and compacts
When the used car market’s net average is at its peak, you should avoid used cars in Anderson, SC that cost high, to begin with. This means full-size SUVs and pickup trucks might have unaffordable tags as these segments sell for the highest prices in the used car market. Instead, visit a dealership like Family Auto with a large inventory. Explore your options among hatchbacks and compact cars. If you can do without the extra space for a few years, why buy a full-size car now by paying quite a few bucks extra?
3. Buy used cars with warranties
Right! This is not a direct method to bring down the cost price of the used car you are buying but you can save on other known expenditures to cut down on the total cost of ownership. Any car, new or used, requires repairs and maintenances. And these cost money on top of the price you pay to buy the vehicle. With Family Auto’s comprehensive 2 years/36,000 miles warranty, you reduce the repair costs of your new used car over that span. And the higher initial cost somewhat gets compensated in the overall calculations. So, take advantage of Family Auto’s warranties to beat the market’s high prices.
4. Allow depreciation to do its job
A 2012 Ford Fusion will cost less than a 2018 model. A 2009 Toyota Tacoma will carry half the price tag of a 2017 or 2019 Tacoma. The best feature about used cars is depreciation. The older you go, the greater the price falls, and you can buy a used car right within your budget no matter what the market average is at any point. Here again, used car dealerships in Anderson, SC with large inventories and quality assurances will matter. You can only buy older used cars if they are available and of impeccable quality. Family Auto of Anderson offers you both and we are the dealership to visit to beat market prices.
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