Is this a good time to buy a used car?

In terms of the best deal, it depends on the specific vehicle you want. Some depreciate like crazy, others not so much.

Nissan for example. A new Pathfinder sells in the mid/high $30K range. You can buy one a year old with mileage under 20K for $23-25K.

Most commodity sedans depreciate more than that.
 
Originally Posted by Kestas
I would wait a while. It's too soon to expect bargains. People are holding on to their prices until they realize the market has changed.


Agree with the above.

Based on some of the car specific forums I visit
pen to paper the used cars aren't really being priced very well, in some cases a 3 year old car is more expensive than the same brand new (as posted yesterday)

Seems the cash on the hood is limited to NEW cars only

Personally I think cars are keeping their values because people think the asking prices must be good deals without any research, my guess is boredom must be making for impulse buys
 
I negotiated 3-4 weeks back on some used vehicles and left the ball in three dealers court if interested in a drop cia a follow up email. 2 contacted me back with what I asked.
 
Thank you all for your comments. I made a very generous offer on a used car at one of my local Chevrolet dealer's early in March. They said no. Dealer's are now allowed to sell again here in Michigan so I made another offer on the same car, upped the number a bit. They still said no. It is a small dealership in a small farming community. Obviously they like the car more than I do.
 
Are the auctions closed? That would be a reason for them to hold on to their stock for better prices.
Here in rural WV, my local Lawn and Garden shop is selling zero turns faster than he can assemble them. People are buying everything he has. I asked him what was going on and he doesn't really know. We had a stretch of warm weather and people wanted to get out and mow etc. This was even before talk of stimulus checks....that no one seems to have received.
Maybe they are getting more calls than we think.
 
I've been wondering if this was a good time to replace a vehicle. Then I realized: since I'm not driving anywhere, mine aren't going to wear out any time soon.
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I just bought used 15% below book value, and I negotiated free shipping across the country. Extremely clean vehicle and with COVID I had plenty of time to detail and change out all the fluids!
 
Originally Posted by krismoriah72
Im not sure about your area but the auctions are closed in mine... which means that there is no place to dump their used cars.

If there is a particular car you like, use every trick in the book to get the lowest price.. good chance it will be yours.





Make a low offer and walk out the door after leaving an email address.
 
I think yes right now is a good time to buy used, and not just because of the pandemic and its effect on the economy. Generally you can get a higher quality car that is more reliable, more efficient and more fun than has ever been available before, for the same money. Quality has been going up for a long time and the used buyer is benefitting from that more than ever. Also, it's not just the asking price, it's whatever final price you can negotiate. Cash talks. Needless to say, pay attention to the service history and documentation. Also, if you are buying from a dealer, ask for a certified inspection or be willing to chip in a bit to get one done, if you are really interested in a certain car.
 
Cash doesn't always talk...dealers like making money on in-house financing. I've never financed a car but I also don't bring up the fact that I'm paying cash until after price is negotiated.
 
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