The value and desirability of used automobiles have skyrocketed in recent years. That’s great news if you’re trying to unload your car but bad news if you’re in the market to buy, especially for specific models. There has been a price increase on the most popular used cars of the past.
“The used car market, I don’t think anyone has seen anything like it,” said Walter Cuevas, manager of Helfman Pre-owned vehicles. ISeeCars.com’s Karl Brauer says “You know, it’s unprecedented to see used cars rise in value.”
We anticipated the current market situation with used car prices. As the pandemic’s supply chain problems reduced the production of new cars, more people started shopping for used vehicles. The market for and value of used automobiles have skyrocketed in recent years.
Depending on the type of vehicle you need, that’s great news if you’re selling but bad news if you’re buying. The once-reliable cheap used cars no longer fit the bill. Helfman Pre-owned Car Manager Walter Cuevas: “The used car market, I don’t think anyone has seen anything like it.” “It’s unprecedented, you know, to see used cars going up in value,” Karl Brauer from ISeeCars.com said.
We anticipated the astronomical increase in the cost of used automobiles. As the pandemic slowed the production of new cars due to supply chain issues, more people started buying used vehicles.
Houston’s No Longer Reasonably Priced Used Cars
Avalon $22,033 VS $35,121
Traverse $21,709 VS $33,526
Price of a BMW3 Series: $21,631 vs. $36,310
RAV4 by Toyota $21,969 VS $36,730
Spend less today on a pre-owned automobile
You can do a few things to get the most excellent price on a used automobile if you need one immediately.
Obtain the Guaranteed Service Contract
Look for vehicles covered by warranties to avoid spending a fortune on maintenance and repairs. Some pre-owned automobiles will have remaining warranty coverage, while others may offer such an upgrade.
“So if you could go out and locate a 25 or 30,000-mile car that has certified pre-owned coverage from the manufacturer, it’s quite easy to buy that car with a lot of peace of mind because if something goes wrong, it gets serviced for free,” said Brauer.
Second, make sure you look into the past
The next step is to review the vehicle’s history. In addition to the possibility of accidents, you should budget for service calls. “It reveals the manner in which the car is maintained and the service history,” Cuevas said. Discover the ins and outs of a car’s history report right here!
You should look at more places
When shopping for a used car, most people only look within a 30- or 60-mile radius. Adjust your level of willingness accordingly. According to Brauer, “if you can expand 200, 300, 500 miles out, you’re going to get a much different geographical sample,” and sometimes cars that are very popular right in your area aren’t as popular for whatever reason in a place a couple of hundred miles away.
Precisely, we needed help to track down the least expensive cars that ISeeCars claimed to be available in our area. These cars and trucks include the GMC Terrain, Chrysler 300, and Nissan Frontier. All of these run somewhere close to $26,000.
Fourth, it’s always wise to get a second opinion
Cuevas said any reputable dealer should allow you to take the vehicle to a mechanic you trust to check it before buying. How long will these higher prices and low demand last? “If you can wait another three to six months, you’ll probably only get better deals as opposed to cars being more expensive three to six months from now. So yeah, the good advice to wait,” explained Brauer.
In general, any used vehicle under $20,000 is in high demand. ISeeCars.com is the place to go to find the cheapest cars in Houston.