Good news for buyers on a budget—if you’re looking to buy a used car now is the time. Why? Dealerships have their largest selection of used cars ever, thanks to the popularity of leasing and the number of people turning in their small and mid-size cars for crossovers and trucks due to falling gas prices. An increasing number of dealers are even offering the option for customers to lease used vehicles as well.
It’s a simple result of the classic “supply and demand” issue. More than 30 percent of vehicles on the road today are leased with their lessees turning the car back in at the end of the lease term without buying it. As a result, more and more late-model used vehicles are sitting on dealer lots in greater numbers. The good news for you is that means lower prices. In March, wholesale prices at used car auctions were 1.6 percent less than they were at the same time last year.
A number of brands are now allowing certified pre-owned vehicles to be leased as well, in addition to several third-party sellers and companies that now provide a lease option, such as the online used-car buying service Beepi. With the lease option, you can shave even more money off the price tag now that you don’t have to buy a used car to get all the benefits of driving one.
Come see our wide variety of used cars, trucks, crossover and SUVs at Pollard Used Cars of Amarillo, TX to see all your options.