Car shoppers are increasingly ending up behind the wheel of a used vehicle, thanks to the stalled economy.
That’s the conclusion of a AAA report last week that found “the car market in the Washington metro area has shifted from an emphasis on new cars to used cars.”
New vehicle sales dropped 21.9 percent in the Washington metro area last year, according to data from the Washington Area New Automobile Dealers Association.
But used vehicles sales are faring much better.
Nationwide, franchised dealers expected to see a 4.2 percent increase in used vehicle sales for March according to CNW Marketing Research, which tracks vehicle sale trends. CNW predicts Americans will purchase 40 million used vehicles by the end of the year.
Despite the risks involved in buying a used car, they have one unmistakable edge.
“It’s the cost,” said Jamaal Khan, general sales manager of DarCars New Carrollton. “People are trying to cut back wherever they can, and interest in used cars is extremely high right now,” he said.
He said customers were primarily looking at models that cost from $10,000 to $15,000.
They are likely to find a better selection at that price range according to Dan Kitzes, senior manager of Carmax in Laurel.
He estimates the average price for a given model has declined by $1,000 in the past year.
“The value is definitely out there,” he said. “There is a really good opportunity as a consumer to get a good deal.”
But taking advantage of that opportunity requires some homework.
“It’s possible to find a used vehicle capable of delivering thousands of trouble-free miles — if you’re willing to invest the time,” said John Townsend, AAA Mid-Atlantic’s manager of public and government affairs.
The agency recommended that potential buyers think about what type of vehicle best suits their lifestyle, talk to current owners of models they are considering buying, and check out classified ads to get a sense of reasonable prices.
Then there’s the question of where to look. Though buying from a private owner can be less expensive, those purchases don’t come with the same guarantees that dealers offer.
Finally, there’s the all-important test-drive.
“Check how the vehicle handles at highway speeds and in stop-and-go traffic,” AAA recommends.
“Make sure it’s more than just a drive around the block.”
