Used Car Sales Climb

By: | News Channel 7
Published: March 10, 2009

If you're looking to buy a car, car dealers say now is the time to buy a used one. Used car sales are rising. Not only will you likely get a lower price, you'll get more money for your trade in, too.

New or used, car dealers are making deals to make some sales.

And they say used car sales are climbing. "Because we're dealing, we need business, everybody needs business," said Kyle Milner, Used Car Manager for Dave Edwards Toyota.

Said Jay Wakefield of Wakefield Buick Pontiac GMC, "I think that consumers that have put off a car buying purchase, they'll look at used first to see that there's value there."

Some dealers say they're struggling to keep enough used cars on their lots. Dave Edwards Toyota sent out a mailer saying they are "in need of quality pre-owned vehicles."

Said Milner, "If they don't even trade with us, we're trying to buy those vehicles from them."

What does that mean for you? Some dealers say you can may save about 10% on the price of a used car and get about 10% more for your trade-in.

Said Wakefield, "The customer who is looking to trade in, their car is worth a little more."

If you have a vehicle to sell, some dealers say they're actually looking for trucks and SUV's. They struggled to sell them last year. But now, gas prices are down. Said Wakefield, "The demand for trucks, the demand for vehicles that can move a family and that people need for the upcoming summer season."

So can you get a loan? Dealers say lenders are loosening up. Said Wakefield, "I have seen over the last 60 days, the number of their applications is steadily risen and they are buying a lot of our business."

The rise in used car sales may not just mean a new used car for you, it could help stimulate the economy, too.

Here are some tips to get the most for your money when buying a used car:

determine how much you can spend and what you want before you shop,
ask if there's a warranty still in effect-- that will save you money on repairs,
have a mechanic check it out,
get the vehicle history report,
and don't be afraid to negotiate and shop around.