Notice: Trying to access array offset on value of type null in /srv/pobeda.altspu.ru/wp-content/plugins/wp-recall/functions/frontend.php on line 698
Open navigation Main Menu Mortgages
Financing your home purchase or refinancing your current loan Finding the right lender Additional Information
Looking for a financial advisor? Take our 3 minute quiz and match with an advisor today.
Main Menu Banking
Compare Accounts , Use Calculators Get help from bank reviews
Looking for a financial advisor? Take our 3 minute quiz and connect with an advisor today.
Main Menu Credit cards
Compare according to category Compare using credit Compare by issuer Get advice
You’re looking for the ideal credit card? Narrow your search with CardMatch(tm)
Main Menu Loans
Personal Loans Student Loans Calculators for Auto Loans and Loans
Find a personal loan in 2 minutes or less Answer some questions to be offered loans, with no impact to the credit rating.
Main Menu for Investing
Top of the Brokerages, and Rob-Advisors. Learn the basics Additional resources
Looking for a financial advisor? Do our 3-minute quiz and then match up with an advisor today.
Main Menu Home equity
Get the best rates Lender reviews. Use calculators. Knowledge base
Looking for a financial advisor? Do our 3-minute quiz and then match up the advisor you want today.
Main Menu Real estate
Home selling or buying homes Locating the right agent information
Looking for a financial advisor? Do our 3-minute quiz and match the advisor you want today.
Main Menu Insurance
Car Insurance Homeowners insurance Other insurance Company reviews
Looking for a financial advisor? Do our 3-minute quiz and then match up to an adviser today.
Main Menu Retirement
Retirement accounts and retirement plans Get the basics of retirement calculators Other sources
Looking for a financial advisor? Take our 3 minute quiz and connect the advisor you want today.
Open search Close search
Submit
Is it a good time to purchase a secondhand vehicle? Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make better financial choices by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare data for no cost to help you make financial decisions with confidence. Bankrate has partnerships with issuers including, but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The deals that are displayed on this site are from companies that compensate us. This compensation can affect the way and when products are featured on this site, including, for example, the order in which they may appear within the listing categories in the event that they are not permitted by law. Our mortgage home equity, mortgage and other products for home loans. However, this compensation will not influence the information we publish, or the reviews appear on this website. We do not include the universe of companies or financial deals that may be available to you.
SHARE:
You are on this Page on This Page
Prev Next
Kali9/Getty Image
4 min read Published September 30, 2022
Written by Rebecca Betterton Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers to navigate the ways and pitfalls of taking out loans to purchase a car.
Edited by Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since the end of 2021. They are dedicated to helping readers gain confidence to take control of their finances by providing clear, well-researched information that break down complex topics into manageable bites.
The promise of the Bankrate promise
More details
At Bankrate we are committed to helping you make better financial decisions. We are committed to maintaining strict ethical standards ,
This article may include references to products from our partners. Here’s a brief explanation of how we make money .
The promise of the Bankrate promise
Established in 1976, Bankrate has a long history of helping people make informed financial decisions.
We’ve earned this name for more than 40 years by demystifying the financial decision-making
process and gives customers confidence in the decisions they will take next. Bankrate follows a strict ,
so you can trust you can trust us to put your needs first. All of our content is authored in the hands of and edited by
They ensure that what we write is objective, accurate and reliable. Our loans reporters and editors focus on the areas that consumers are concerned about most — different types of lending options and the most competitive rates, the top lenders, the best ways to pay off debt and many more, so you’ll be able to feel secure when making your investment.
Integrity in editing
Bankrate has a strict policy and rigorous policy, so you can rest assured that we’ll put your needs first. Our award-winning editors and reporters produce honest and reliable content to help you make the right financial choices. The key principles We appreciate your trust. Our aim is to offer readers reliable and honest information, and we have editorial standards in place to ensure that occurs. Our reporters and editors rigorously check the accuracy of editorial content to ensure the information you’re reading is true. We keep a barrier with our advertising partners and the editorial team. Our editorial team does not receive direct compensation from our advertisers. Editorial Independence Bankrate’s team of editors writes for YOU as the reader. Our goal is to give you the most accurate advice to help you make smart financial decisions for your personal finances. We adhere to strict guidelines in order for ensuring that editorial content isn’t influenced by advertisers. Our editorial team receives no directly from advertisers, and all of our content is fact-checked to ensure accuracy. So, whether you’re reading an article or review, you can trust that you’re receiving reliable and dependable information.
How we make money
You have money questions. Bankrate has the answers. Our experts have been helping you manage your finances for over four years. We strive to continuously provide consumers with the expert guidance and the tools necessary to succeed throughout life’s financial journey. Bankrate follows a strict policy, which means you can be confident that our information is trustworthy and reliable. Our award-winning editors, reporters and editors provide honest and trustworthy content to help you make the best financial decisions. The content created by our editorial staff is factual, objective, and not influenced through our sponsors. We’re open about how we are in a position to provide quality content, competitive rates, and helpful tools to our customers by describing how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We receive compensation for the promotion of sponsored goods and services, or when you click on specific links that are posted on our website. This compensation could impact how, where and when products appear within listing categories, with the exception of those it is prohibited by law for our mortgage or home equity products, as well as other home loan products. Other elements, such as our own proprietary website rules and whether a product is available within your region or within your personal credit score can also impact the way and place products are listed on this site. Although we try to offer the most diverse selection of products, Bankrate does not include details about each financial or credit item or service.
Buying a comes with many benefits, including slower vehicle depreciation, lower costs and a lower upfront cost. The current situation of the car market reinforces the final fact that new cars set records in late summer. This makes now the perfect time to think about purchasing a used car. Current state in the market for used cars The summer closed out with high prices. The average used vehicle sold for $28,219 in July, and a similar figure of $28,061 in August, according to Kelley Blue Book. However, used cars are considerably cheaper than those offered on new car dealer lots. Since the onset of the pandemic, the automobile market has been a dramatic shift away from normalcy and has been slowly moving back to normalcy with little progress. However, it’s not all bad news. While we are not near 2021 levels of used prices and availability however, we are in a good location to buy secondhand, encourages Chris Frey, Cox Automotive’s senior manager for economic and industry research. Unfortunately, the cost of financing, purchasing and operate vehicles is at record levels. made by the Federal Reserve make the cost to finance your vehicle higher and fuel prices fluctuate as well. However, financing a used vehicle is still cheaper than buying new ones at $515 per month, compared to $667 in the second quarter of 2022, according to . If you choose to purchase buy a used, less costly car, you will save on your monthly payments. Prices for used cars are decreasing, but not by much. overall, prices for used cars are dropping, in the opinion of Henry Hoenig, a data journalist for Jerry but not much. The Jerry team reviewed the best selling vehicles of 2022 and then compared them to models that are lightly used in 2021 and discovered that «As as of August, just seven out of the 10 cars were worth more than used than the price of sticker on used models.» This implies that prices for used cars are still more expensive than they were historically, but on par with the current volatility of the market. The inventory of used vehicles remains higher than , as dealerships are still struggling to catch up with supply chain issues. Therefore, although prices may be more expensive than they’ve always been before, inventory of used cars is greater than the availability of brand new vehicles. Inventory of used cars is up by 10 percent to the same time last year, according to Cox Automotive’s 3rd quarter industry insights and is a good indication for the upcoming year. «Prices remain high due to the fact that there still aren’t enough vehicles,» Hoenig says. «It’s important to be aware that this isn’t like some of COVID-related shortages like we experienced.» Although manufacturers of other products used in daily life were able pick up quickly, cars are more difficult to manufacture. It’s important to keep in mind that the used car market is built off drivers getting rid of their vehicles, so even if there’s not as many drivers buying new there can be an impact on the availability of used cars down the road. Because of these elements, you could be met with more competition and slightly higher prices for used cars, but that doesn’t make buying a second-hand car an undesirable option. Should I buy a used vehicle? The question of buying a used car comes down to need. There isn’t a perfect solution car, particularly with the various macro-environmental effects that increase costs. While experts say that new vehicle inventory should be back to normal by the spring of 2023, most drivers do not have the luxury to wait for prices to fall. If you’re looking to purchase a car, buying used over new could result in savings. The factors that make up high demand for new cars and the limited inventory and interest rates above usual levels can make the cost of a vehicle more expensive either way, but purchasing used vehicles is significantly less expensive. Five questions you should ask when buying a used car While comes with a lower price, it could also carry the added anxiety that comes with an unknown vehicle’s past. To mitigate these feelings make sure you ask the right questions to gain an understanding of the background of the new car. 1. What is the ownership history of the car? A vehicle that has many owners is not necessarily bad news but can mean that the vehicle had serious issues that drivers tried to avoid fixing or couldn’t solve. Ask the dealer how many owners the vehicle had, as well as the length of time that each one of them had it. Owners who have a short period of time should cause worry. Bankrate tip
Think about buying a car. These vehicles must meet additional requirements created by the manufacturer. They must also be covered against any defects in the vehicle.
2. Has the car been in any crashes? While you can easily check a vehicle’s accident history on websites like Carfax or AutoCheck but it is better to ask the dealer upfront. Even if the accident was minor it is important to find out how the damage was dealt with and if you will have to deal with any repercussions during ownership. 3. Do I have access to the maintenance logs? Most authorized vehicle dealerships will keep records of any maintenance done on a vehicle, but asking them directly is an excellent way to assess the vehicle’s care. Avoid buying a vehicle that hasn’t undergone regular maintenance because it could result in higher costs down the road. 4. Do you have a clear car title? A clear vehicle title states that the car doesn’t have any remaining disputes with the ownership of the vehicle and also confirms that the car isn’t subject to any limitations that prevent it from being sold. If the seller cannot present a clear title for the vehicle consider this to be an indication of fraud and away from the deal. 5. May I take the car for a drive? It is essential to test drive the car prior to signing on the dotted line, especially when it comes to an older vehicle. Make sure you take your time while test driving, and make sure you be aware of the handling and the condition of the car. This is also a good chance to chat in a more relaxed environment and ask the salesperson any questions regarding the vehicle. Following steps: Buying used is the best option to get behind the wheel of a new car while saving money. Although the prices of today might be higher but buying used is less expensive than buying a brand new alternative. The key to getting the best used car is asking the right questions and negotiating the most affordable financing. Learn more
SHARE:
Authored by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers with the ways and pitfalls of borrowing money to purchase an automobile.
Editor: Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate from late 2021. They are committed to helping readers gain confidence to take control of their finances with precise, well-researched and accurate information that breaks down otherwise complicated topics into bite-sized pieces.
Auto loans editor
Similar Articles: Auto Loans 5 minutes read March 02, 2023
Auto Loans 6 minutes read Dec. 01, 2022
Auto Loans 3 min read on Nov 21, 2022
Auto Loans 5 minutes read on Sep 27, 2022
About
Help
Legal Cookie settings Do not sell my personal information
How we make money Bankrate.com is an independent, advertising-supported publisher and comparison service. We receive compensation for the placement of sponsored products and, services, or when you click on certain hyperlinks on our site. So, this compensation can influence the manner, place and in what order items appear within listing categories, except where prohibited by law. This is the case for our mortgage, home equity and other home loan products. Other elements, like our own proprietary website rules and whether a product is offered in the area you reside in or is within your self-selected credit score range could also affect the manner in which products are featured on this website. Although we try to provide the most diverse selection of products, Bankrate does not include information about every credit or financial product or service. Bankrate, LLC NMLS ID# 1427381 | BR Tech Services, Inc. NMLS ID #1743443 |
|
(c) 2023 Bankrate, LLC. The Red Ventures company. All Rights reserved.
If you liked this post and you would certainly such as to receive additional information regarding instant same day payday loans online best; https://onuwra.site, kindly browse through the website.