As years go by, more people seem to be buying cars; nearly one million more cars were sold in 2014 in the U.S. than the previous year. According to the tracking company Autodata, Americans had purchased as many as 16.5 million new cars in 2014. The age of the average vehicle on the road now is just above 11 years. Whether you’re shopping for your first car or your fiftieth, it’s always helpful to familiarize yourself with the ever-evolving world of the auto market.
New Cars Smell Like Money
While more Americans bought a new car in 2014 than previous years, they also paid more as transaction prices reached a record high average of $32,386 per vehicle. Many newer models come with advanced standard features that help contribute to this increasing price tag. A 2015 J.D. Power U.S. Tech Choice Study found that 40% of drivers would describe blind spot detection and prevention technology as their most preferred new feature. Night vision was the second most preferred technology by 33% of the population. A study of Generation Y consumers (who accounted for 27.7% of new truck, car, and van sales) were willing to spend an average of $3,703 on technology features for their next vehicle. Many young people have just about $3,000 to put down on a car; here are some reasons why a used car might just be a new car buyer’s best option.
Finding a Good Used Car for Sale
Finding a used car for sale is as simple as determining what kind of vehicle you want based on your price range. The National Automobile Dealers Association forecasts nearly a 7% decline on the average used car price to under $15,000 for 2016: the average for 2014 was $16,025. While used car dealerships might not have all of the modern options of new cars, dealers ensure that their vehicles are running perfectly. Many dealers offer manufacturer-backed programs for newer used cars that act as limited warranties. Whether it is your first car or hopefully your last car, keep an open mind and you’re sure to find the perfect new or used car for you.