Used cars are an affordable alternative for families needing a reliable vehicle that won’t break the bank. According to Cox Automotive, used passenger cars are in high demand and are increasing in value. With that in mind, now may be the best time to purchase one of these newer used vehicles.
Best Two-year-old Cars You Can Buy Now
With many 2016 cars coming off lease, now is a great time to buy a relatively new vehicle with low miles. According to Consumer Reports, some of the most affordable cars from the 2016 model year coming off lease include the:
- Kia Soul: $12,852 average price
- Toyota Corolla: $13,809 average price
- Toyota Camry: $15,284 average price
- Mazda Mazda6: $15,870 average price
- Mazda CX-5: $16,970 average price
- Honda Accord Sedan: $17,288 average price
Best Used Car Websites
Here at Auto Credit Express, we work with partners that have extensive resources and tools that car buyers can use. Here are three of those websites:
At CarsDirect, you can compare used and new models with various online tools and detailed reviews. The tools available include an easy-to-use vehicle search engine, free trade-in valuation, and a Car Loan Calculator. You’ll be able to research vehicles, calculate how much car you can afford, and make an informed financing decision – all on CarsDirect’s website.
The Car Connection specializes in vehicle research and reviews. On TCC, you can find new and used cars in your area, and do in-depth research on specific vehicles. The editors at TCC compare makes and models beyond the price point, and help consumers find the best car for their needs. Whether it’s comfort, safety, or style, TCC has all the details available for you to make an informed car-buying decision.
Drivers Lane connects car buyers to dealers that specialize in low or no money down financing. Buying a vehicle can be expensive, and that’s why DriversLane offers a Paycheck Calculator and Car Loan Estimator. These tools can help you understand where an auto loan fits into your current finances. Many of these dealerships are buy here pay here lots, and DriversLane helps take the stress out of finding one of these dealers.
Benefits of Buying Used Cars
There are many benefits to buying a used car over a new one. Besides the obvious money saving benefits, there are four other reasons you should consider buying used:
- Biggest drop in depreciation already happened – New vehicles lose about 15 to 20 percent of their value within the first year of ownership, but depreciation is never that steep again. Because cars today are designed to last longer than 100,000 miles, you can buy a reliable used vehicle at an affordable price and avoid the worst effects of depreciation.
- Lower annual registration fees – Registration fees are usually based on the car’s value and model year. So, the older the vehicle, the lower the fee you typically have to pay each year.
- You have room to negotiate – You usually have more room to negotiate with used car prices compared to new.
- Warranties carry over – Depending on how old the vehicle is, it may still be covered by the original warranty, which can help save you money on maintenance and repair costs.
To Buy a Car or Not?
If you’re ready to finance a car with bad credit, but are having trouble finding a dealership to work with, let Auto Credit Express help. We work with a nationwide network of special finance dealers and want to help you find one in your area. Simply fill out our online auto loan request form today to get started.