Lots of Great Used Car deals on Memorial Day Car lot sales.
The best deals to be found this holiday season are on luxury used cars with low miles, warranties or certification, in great, dry, desert weather condition.
Considering the lack of new luxury car inventory around the US, the stabilized values on most luxury brands: BMW, Mercedes Benz, Lexus, Infiniti and Acura will seem reasonable, especially as prices on new luxury models continues to climb and rebates decline.
USED CAR PRICES STABILIZE for Luxury Nameplates.
Jaguar, Audi and Porsche seem to be in high demand, especially for under 40k miles and 3 years or newer.
Examples include low interest rates of 2.5% for 60 mos. and warranties up to 100k miles.My formula for ranking a good deal on a used car has more to do with miles per dollars, considering the year, body style and overall condition of the car. I also like to study the vehicle model history at the
NHTSA.com website, looking at the complaint, recall and technical service bulletin sections.
In addition to putting a higher value on cars with 10k or less miles per year, the age of the vehicle being less than five years old is important. A lower cost on a car with low miles that is over six years old can point to possible replacement repairs due to dried out rubber components and self-lubricating parts which may not have had regular exercise.
Used 4wd trucks are the biggest disappointment, with high demand pushing miles and prices up beyond reasonable calculations.
On most 4wd and smaller trucks, Toyota Tacoma models are the most scarce in the used arena. You are simply better off to buy new, if you can afford it.
Ford F150 trucks being the best deal on new, with big rebates, and more truck value for the money. If your garage will accommodate it.
CAR LOANS and CREDIT
Consumers with foreclosures, short sales and bankruptcy’s with three years of post problem clean credit history will find credit for a
uto loans available, albeit, higher than average interest rates and requests for cash down payments. Check your AUTO credit score and debt to income ratios (be under 75%) before car shopping in the heat this Memorial Day weekend.
The over 100k mile suv is showing strong prices for those with credit challenges, however, I prevail on those with limited funds and credit to be very careful of these high milers. The cost upfront may be a fraction of the monthly repairs needed to keep this hoopty running.
Stay-tuned here for more on rebates and incentives for the top 10 best-selling models of 2014.
Read more…
to Learn more about Memorial Day 2014 Car sales and what to expect when shopping for a NEW car.
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Sarah Lee Marks is MyCarlady. She has over 26+ years of experience.
She writes about cars, and is a staunch consumer advocate on car related subjects.
MyCarlady offers free car buying advice, and private, auto-related services to help you maintain your personal or commercial vehicles.
Call Sarah Lee for more information. Join the MyCarlady newsletter to be kept up-to-date on this and other important car information.
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