An influx of used cars is expected to hit dealerships this year. As a result, this will be a prime time to buy a used car for a fair price.
As a record number of leases are expected to mature this year, there will be an additional 33% increase in the amount of used cars available on the lots. Dealers expect 800,000 used cars to flood their lots and the trend is predicted to increase through 2018.
Leasing has become very popular over the last few years, which is driving the increase in used car sales and bringing newer and higher-quality used cars back to the market. According to MoneyTalksNews, the NADA estimates that used car prices will decrease 2.5% each year for the next three years.
What cars will you see most of? According to Forbes’ list of the best car leases in 2013, there is expected to be a large number of the Audi A5, Chevy Corvette and Honda CRV, to name a few. In 2014, Toyota and Chrysler both saw a large increase in two-year leases, causing dealerships to expect a good number of cars from both companies during the influx.
However, not all vehicles are expected to be at lower costs: vehicles such as the Corvette and F-150 trucks are expected to retain their value and be sold quickly thanks to high demand. In addition, low gas prices are making these larger vehicles a more appealing purchase again.
Luxury cars are also expected to be among the influx of off-lease cars. Mercedes-Benz is included in this expectation with such a large volume expected, the company will likely to be forced to sell off-lease vehicles through non-Mercedes dealers.
During this time, companies are also expected to offer special sales and promotions in order to help sell these vehicles more quickly. Before you purchase your new used car, remember to compare finance rates and calculate depreciation.
Determine if now is the time for you to purchase a new vehicle is. Visit http://www.moneytalksnews.com/why-its-time-snap-good-used-car/?utm_source=newsletter&utm_campaign=email-2016-03-03-am&utm_medium=email for more information.