Are Used Cars Getting Too Expensive to Invest in?
When you’re ready to invest in a new vehicle, you might not want something that’s brand new. You’re not alone, either! Countless Americans are looking for used cars to ease the financial strain that comes with purchasing a replacement vehicle. Unfortunately, used cars aren’t quite as affordable as you might think.
Used car prices have been increasing dramatically over the last few years. In fact, the price of the average used car is expected to increase to more than $38,000 by May of next year. Used cars from dealerships are looking more and more like new cars when it comes to pricing. In some cases, this is a great investment for drivers looking to replace their cars. But if you’re looking for cost savings, then a used car from a dealership lot might require some concrete financial planning on your part.
Fortunately, there are options for financing new and used vehicles. It’s also possible to look into leasing, which gives you a little bit more leeway with your car payments and usage.