Buying a used car is incredibly beneficial as you save money on hefty price hikes and taxes applicable for brand-new vehicles. You also enjoy free reign for negotiation and more affordable APR rates on older car models. However, you must carefully scan online auto trading platforms to spot the top used car options and deals. Here are a few easy ways to ensure you get more bang for your buck!
Start with online listings
Websites and automotive platforms like CarMax, Carvana, Autolist, Autotrader, Edmunds, and Vroom sell the top models of used cars. They offer the best APR rates and list updated prices of their vehicles. But visit these sites during the off-season as specific makes are not in demand and are, hence, cheaper. For example, nobody wants a convertible during the winter or a hard-top sedan during the summer. So, buying before the season changes will save you more money.
Compare deals based on APR
Compare the APR offered on different vehicle trims to find the best one. For example, the Honda Civic (2018 to 2023) sedans currently have a 2.99% APR financing option on some trading platforms. The exact APR rate is available on the Honda CR-V (2018 to 2023) SUV trims. Furthermore, there’s just a few thousand dollars difference between the used Honda Civic Sport Trim (currently $22,450) and the Honda CR-V LX trim (currently $26,570). Compare the prices and financing options and choose a car that fits your budget while providing the necessary features.
Get certified pre-owned (CPO) vehicles
CPO vehicles are restored to pristine condition. They meet all the safety standards and require no maintenance or repairs at purchase. The best time to buy CPO vehicles is before the end of a sales quarter when dealerships slash prices to clear inventory. It will ensure you get the best used car options and deals. You can also secure financing on CPO vehicles from the dealership.
Compare brands
Brands like Honda, Hyundai, Acura, Toyota, and Ford should be your top picks for budget sedans and SUVs. Alternatively, Audi, BMW, Jaguar, Land Rover, Lincoln, Lexus, and Volvo offer some of the best APR rates for premium CPO vehicles.
