Best Used Cars To Buy
You probably already know that a new car can lose up to 20% of its value the second it is driven off a dealer’s lot so if you want to save a couple of dollars and let someone else lose that 20%, you are probably interested in the best used cars to buy in the beginning of this year.
During last year, the prices for used cars were a little bit higher than expected due to the reason that new car sales did not fully recover after 2009 which was a terrible year. As a consequence, less people traded their used cars for new ones; this resulted in a low stock volume of used cars and for this reason the prices were pretty high.
At the beginning of this year, the number of new car sales has been improving and the prices for used ones should decrease, at least in theory. While some will wait until the prices of used cars go even lower, other want to buy one in the following period.
Compounding the supply issue for buyer is that many automakers do not offer great deals for used cars. Even with those advertised special offers, the financing deals are rarely going below 2%. Of course, this is better than what you will get at the bank, but these deals are not as widespread as they used to be a couple of years ago.
Of course, this does not mean that buying used is not buying smart anymore. More than that, if you have all the necessary information about the latest deals in used cars, you will be buying like a genius. You need to know that some of the automakers offer special deals on their pre-owned vehicles, which will certainly increase your savings furthermore. These certified pre-owned cars (CPOs) usually are in a pretty good shape and they are inspected by the dealer and backed by a CPO warranty. If you are a nervous buyer, this will certainly give you some piece of mind. In addition, there are lots of car manufacturers that give special deals and incentives on their CPO cars.
These used car deals are something to be seriously taken into consideration by buyers. You need to know that many of the credit companies usually see used-car buyers as bigger risks in comparison to new-car buyers, so as a consequence the financing rates for a used car has the tendency to be a little bit higher. When the car manufacturers start rolling out special financing deals, it is your time to make a move.
For February 2011, there are a couple of interesting financing deals from some of the most appreciated names in the car industry, including here Mercedes. Although cash back offers are quite rare on a CPO, buyers can still get an excellent deal by negotiating the sales price and taking full advantage of reducing financing rates. The best used cars to buy for this month would have to be the following:
On selected certified pre-owned Benzes, you can get 1.99% APR financing. The models that you can get at this rate include the entry-level C-Class and the E-Class. In addition, the M-Class is also eligible for this deal if you are in the market for a midsize SUV. The last model that can get this rate is the GL-Class. This promotion is available for the 2007/2008 models and it expires at the end of February.
If you are looking for something from the Blue Oval, you need to know that there are a couple of CPOs like the Focus, Explorer, Mustang, Fusion, etc that are available with 2.9% financing for 48 months. The deal expires at the end of March.
For those of you that want to purchase a Japanese car, there are a couple of deals on Mazda models with 2.49% financing for up to 36 months. This offer expires at the end of this month.