Shopping around for a used car can be overwhelming for drivers – especially those who are desperate to stick to a budget. That's why it's helpful to keep a few tips and tricks in mind as you browse for vehicles. However, even that can be a problem, as there's a lot of information floating around. You can navigate these waters by keeping some key ideas in mind.
Snatch up great deals
Carlypso, a new technology-based company focusing on car sales, recently released a study detailing some of the current trends in the auto industry. One of the biggest pieces of advice the organization had was to act quickly when you come across a good deal. If you can find a vehicle that's being offered below market value, you should pounce on it. According to the report, these cars usually sell within about 10 days of hitting the market, so there's no time to waste. The better the deal, the faster you need to move: For every 1 percent drop in price, the average speed of sale jumps by nearly 1.5 days, Carlypso reported.
Wait out bad prices
Maybe you have a car in mind, but the price isn't exactly what you want. You have a few options in this case. Carlypso recommended waiting it out. According to the organization, used cars often enter the market at a seller-friendly price. When that doesn't garner a lot of attention, the price may drop, with some sellers even decreasing the sticker price as many as three times. Of course, this may not be much of a problem when you use an auto auction. That allows you to name your own price and only bid what you think the car is worth – a move that has potential to save you big time.
Be smart to save money
The most important thing to do is remain calm and think through each decision. Luckily, that's easy at New Jersey State Auto Auction. This lot offers hundreds of Carfax-certified used cars, trucks and vans, with the majority of these vehicles boasting low prices. It even has an in-house financing department ready to help drivers figure out how they will afford a used car and secure credit approval. Best of all, the finance team knows how to do all of this quickly, allowing you to jump on any deals you find.