The used car market is seeing a slight decline in sales, which could create ideal conditions for buyers on a budget. When the economy took a turn for the worse a few years ago, many drivers turned to used cars or held on to their current rides in an effort to save money, and this resulted in fewer used vehicles that sometimes cost more than their new counterparts. As conditions have improved, numerous car owners have turned back to the new car segment, putting less of a strain on the supply of used cars. This has given the used car market some breathing room, as prices have come down and inventories have grown.
According to a recent Edmunds.com report, used car sales fell 3.4 percent in the first six months of 2013 compared to the first half of 2012. With less of a demand for pre-owned models, dealers will likely be lowering prices to reach their sales quotas, making this an excellent time to begin the search for your next ride.
It is important to note that, while overall sales may have fallen, franchise dealerships and certified, pre-owned sales have improved 6 and 12.5 percent, respectively. This means drivers will want to check out other options, such as New Jersey State Auto Auction. The dealership, located in Jersey City, is open to the public and has more than four football fields worth of used cars, trucks and SUVs. Every model on the lot is backed by a Carfax report, so you'll know exactly what you're buying before you finalize the sale. You can also get approved for an auto loan in minutes, as NJ State Auto partners with a number of major lenders to help get you behind the wheel of the car you need regardless of your credit history.