Now is as good a time as any to get your hands on used cars Grants Pass Oregon. Currently, the market is experiencing a quick shift to luxury SUVs. Because of this, some used cars are coming off lease, which resulted in an excess supply of luxury sedan that is quickly depreciating on the used car market.
Thanks to a change of heart, many families shifted their attention to SUVs, which lead to another significant opportunity for those who are smart enough to notice.
We are talking about luxury family sedans that were acquired three to four years ago, coming to the market en masse. Not many buyers are lining up.
Even though the economy recovered from 2013 to 2015, resulting in a spike of luxury SUV vehicle sales.
However, as the current gas price is sitting at $2.83 a gallon, more buyers are noticing off-lease sedans while the demand for large SUVs and sedans are declining.
Because used car values are dropping, automakers are finding it hard to keep up the sales of new luxury vehicles.
What Makes Used Cars Desirable?
Apparently, those who are opting for used cars right now have noticed the wisdom in doing so as there are some stable values to be realized.
Take the 2014 Chevy Impala 2LTZ. This vehicle in a spanking brand new condition will set you back to pay around $30K if not more. However, if you swing by a used car Grants Pass dealership, you’d probably pick it up for about half the price. Think about it. The market range for an Impala LT that is a 2016 model starts at only $15,998 and will not go much higher than $20K. This is easy $10K cheaper than a brand new Impala.
Another case in point. The Subaru Impreza WRX that happens to be an enthusiasts car might not have felt the effects of depreciation like other sedans, but you can still save by purchasing a used car. You can get a 2016 model that hovers around $20K, which is still a $10K savings compared to a new WRX.
There isn’t a good or bad time for buying a used car. However, one needs to look at specific factors when it comes to making your purchase decision.
How much disposable income do you have? Your budget would be the deciding factor whether you can conduct your search for a particular price range. The money that is left after all expenses is paid would be a sure indication of how much you can afford to pay. Having a set amount available every month will help you determine the value of the car you can put your money on. Car sales experts recommend you purchase a vehicle that is below the amount you qualify for otherwise may just find yourself in a tight spot with other monthly commitments.
Current car troubles. Is your existing car giving you too much trouble? Are you spending too much money on repairs? One could instead put these funds towards a reliable vehicle. If you have to pull your car into a repair center continuously, then you should consider trading it in for another one.
Maybe your family is growing. You have a small car, and a new baby is arriving soon. The time has come to consider looking at a sedan that is more spacious and suited to a family of three or four people.
Some may say that a baby is small and does not take up a lot of space. But, they sure come with plenty of luggage. Especially, if you consider the size of the pram and baby bags. The question is will it all fit in your boot?
Time to Seal the Deal
Before anything else happens, you need to ensure you have the pink slip, the smog certificate, and that you verified who the owner of the car is by checking that their iD matches the name on the pink slip.
Also be sure the smog certificate states it has been done within 90 days. Some states have more paperwork that needs to be in order. Get familiar with these requirements.
Most of all. Reach a price you will all agree on.
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