Car Shoppers Rejoice: Used Car Prices on the Decline

For car shoppers on a budget, used cars offer the opportunity to find a reliable ride for less than buying the same model new. While there are plenty of inexpensive new models on the market, searching for a used ride gives you the opportunity to get a model that might have been out of your price range when it first came out, creating a world of opportunities to get the car of your dreams without breaking the bank. The Associated Press reports that now may be the time to make a move if you've been delaying purchasing your next ride, as the used car market is ideal for buyers.

Things have only been improving since 2011 when the economic recession began to ebb. Back then, used car prices were comparable and sometimes higher than new, but now the tables are turning. More people are selling or trading in their current cars for newer models, which means the number of used cars for sale is on the rise. At the same time, demand has slowed, since some drivers are turning back to the new market. This equates to falling prices for used models, and Kelley Blue Book's Alec Guttierez told the AP the average cost of a used car has dropped 4 percent between April and June.

Drivers in the New York/New Jersey area can find the used car, truck or SUV that they want at New Jersey State Auto Auction. The dealer carries a wide selection of makes and models at affordable prices and every vehicle on the lot is backed by Carfax. Drivers can also secure their financing on the spot, as NJ Auto Auction partners with a number of lenders to help get you approved quickly regardless of your credit score.