The tsunami of pre-owned vehicles flooding dealer lots is great news for those seeking an affordable, low-wear used car, but the previous owners are taking a hit.
More than ever before, owners returning their vehicle for a trade-in are discovering their old car’s value sank faster than their ability to pay it off. New car buyers, take warning. (Read More…)
In the past, I’ve always bought used in the “golden zone”, i.e. two to three years old with less than 45k on the clock. This has always served me well. I’m pretty good at getting a good deal on this end of the process.
What’s brand new for me is dealing with an existing vehicle I still owe on. Due to a family addition coming along, we’re moving up from this late-model SUV (I don’t want to get too specific, but it’s a GM product) that has about 55k racked up, but is in good shape overall. Tires have tons of tread life, it’s mechanically sound, that sort of thing. We’re moving on to a Kia Sedona; my wife really dug one we kicked tires on. The minivan would be a late-model, purchased used — likely a 2015. Where my kung fu is not strong is in dealing with trading in or selling the existing vehicle.