What will you do if you want to buy a car but don’t have the right financial support as of the moment enough for something luxurious as brand new? Most of you would probably say: “car financing schemes” or “rebates” and all the words you can mutter relating to your situation. Why not used cars?
Resurgence of used cars became more prevalent due to a dwindling economy in the past decade. Prices became higher but since the economy is bouncing back these days, used cars now have never been cheaper. In fact, CNBC reports that in four years time, the entire American pre-owned car market has entered into price levels that is record-breaking low. Average used car is now sold at just $15,617, just more than a thousand bucks higher than the market price back in the third quarter of 2009.
Image credit: rptnorris
Well, isn’t that good news? If you find it troubling that you need outward assistance, then why not just opt for used cars if you have that little money to spend?
America’s Favorite Used Cars
GM and Ford may be the first car brands that will come into mind for most citizens, after all, both these manufacturers are still taking the American car market by storm as the two leaders in sales.
But the American car market isn’t blindly dominated by these two manufacturers alone, for the spirit of free economy, the USA was also penetrated by foreign car makers long ago. In the east coast, Florida, New York, Massachusetts and Pennsylvania all chose Honda’s Accord as favorite used car. That is in the East alone. West Coast States were a little off-beat since there’s not a single manufacturer that won them over. Texans like it big with Ford’s famous F-150 (seen on www.amesford.com) while most of California either chose a BMW 3 series of Toyota Camry; quite homogenous really.
In another list off Wall St. Cheat Sheet, it has also given the top spot to Honda’s Accord with 2.3% of the car market. Rounding off it’s top 3 (though notably Asian cars), it includes Toyota Camry at 2 with 2.1% (nice choice there for Californians) while Nissan Altima is on top 3 with a solid 2 percent. Ford’s F-150 is also up there on top 5 while yet another Honda, this time the Civic model is at top 4 – this is no wonder for Ford since majority of American states also enjoy this pick-up truck (yes like 30 states all over America – but that’s a whole issue altogether since this are reports from brand new cars, not used ones).
If you wonder where GM cars placed (since GM, undoubtedly still holds the number one spot for most cars sold in the past year all over USA), well its Chevy Malibu and Impala are loved by people from big cities in Ohio and is awarded top 8 and 9 spots for Wall St. Cheat Sheet’s top 10 Used Cars for Americans.
A Different League
In comparison with brand new car markets, used cars have a different yard stick when it comes to determining what model is good enough for would be buyers.
Buyers of brand new autos must be careful of trusted reviews and insights found either on the press and online but used car lovers must become extra-cautious. Would be pre-loved car owners must determine vehicle reliability report, NHTSA records, seller’s previous experience with the car, professional inspection and online vehicle history report.