Now is a great time to buy a used car

Auto Industry News

November 04, 2011 12:00 AM

As the year winds down it becomes a great time to buy new cars, and recent statistics show that used car prices are on the way down as well. A study by CarGurus found that the average price of a used car is around $19,278, down 0.88 percent from September and 1.7 percent from August.

The findings are certainly good news for consumers, who have been plagued by somewhat high used car prices over the last several months. Though it is a bit above where it was at this time last year, any decline in price can't be a bad thing.

"With prices less erratic and demand expected to drop further as winter approaches, consumers should be in a better position to gain clarity on market values and negotiate with dealers," said Langley Steinert, the CEO of CarGurus.

Although prices are trending downward that doesn't mean that you shouldn't still try to get the best offer possible. According to Consumer Reports, one of the best things you can do to ensure you get a good deal is to be familiar with the value of the car you're interested in ahead of time. By checking a number of sources you'll be better equipped to tell if you're getting a fair offer.

Also, you should be sure to be familiar with your trade-in value. There are plenty of easy ways to determine the number, but New Jersey State Auto Auction offers one of the quickest. The company is an authorized AutoTrader.com Trade In Marketplace dealership, and you can check the value of your car in a matter of seconds. ADNFCR-2112-ID-800634018-ADNFCR