Finance

Apr 30 2017

The Best Cities and Towns for Used Car Deals #auto #painting


#best used car deals
#

The Best Cities and Towns for Used Car Deals

By Keith Griffin. Used Cars Expert

Keith Griffin has been an automotive journalist and new car reviewer for more than 13 years. His experience as a journalist dates back 35 years. He is currently immediate president of the New England Motor Press Association.

iSeeCars.com has released a list of the top U.S. cities that offered the most used car deals (under-priced cars) as a percentage of all the used cars for sale in the city. It s a helpful list for expanding your used car buying search, especially if you re on the East Coast.

The lesson from the research that iseecars.com did is look towards bigger cities, especially on the East Coast. It s dime-store sociology, but the prices may be better because more poor people live in urban areas and dealers have to price to what the market can afford.

Continue Reading Below

According to a press release from the company, iSeeCars analyzed 30 million used cars listed on iSeeCars.com over the past year and found that New York City had two times the underpriced cars than than Los Angeles even though both cities had about equal number of cars for sale. iSeeCars classified good used car deals as at least 5% below iSeeCars’ estimated market value. Eight of the top 10 best cities for used car deals were on the East Coast.

Based on the iSeeCars analysis, the Top 8 cities with the best used car prices as a percentage of all the cars for sale were:

  • New York City,
  • Buffalo,
  • Detroit,
  • Cleveland,
  • West Palm Beach,
  • Miami,
  • Washington DC, and
  • Hartford/New Haven.

On average, used cars priced under $15,000 in these cities listed at 10-14 percent below market value. New York City, Chicago and Los Angeles all showed more than 300,000 used car listings, but nearly 40 percent of used car listings in New York City were good deals, compared to Chicago at slightly more than 25 percent and Los Angeles at less than 20 percent.

Here s an interesting tidbit from the website.

Continue Reading Below

While East Coast shoppers enjoyed better used car deals, iSeeCars’ research determined that widening your car search could yield big savings no matter where you are located. “We learned that Washington DC had close to four times the number of deals as nearby Baltimore,” said Phong Ly, CEO and founder of iSeeCars.com. “Similarly, Dallas and Austin are only about a few hours away but there were three times as many underpriced cars in Dallas than Austin.”

As always, make sure you get a pre-purchase vehicle inspection from an outfit like AiM done before purchasing any used car. Include a vehicle history report from CarFax or AutoCheck as part of any used car purchase, too.

Top 50 Cities with the Most % of Used Car Deals Under $15,000

5 Cleveland-Akron (Canton), OH – 35.1%

6 West Palm Beach-Ft. Pierce, FL – 33.8%

43 Las Vegas, NV – 16.3%

44 Nashville, TN – 15.4%

45 San Diego, CA – 14.8%

46 Memphis, TN – 14.2%

47 Greenville-Spartanburg, SC – 13.0%

48 Sacramento-Stockton-Modesto, CA

49 Seattle-Tacoma, WA – 13.0%

50 Portland, OR – 12.6%

iSeeCars analyzed more than 30 million used cars for sale in the U.S. over the last 12 months and studied the used cars which were priced $15,000 and below. A used car is a deal if the price is at least 5% below iSeeCars’ estimated market value .

“Market value” of a used car is determined using a proprietary algorithm that analyzes similar cars for sale nationwide – those with the same year, make, model, trim, options, mileage, and other factors.


Written by admin


Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: