Used Car Buyer’s Guide 2024: Navigating the Roads to Your First Ride

geoffrey

·

NEW-VEHICLE AVERAGE TRANSACTION PRICE

NewSource: Cox Automotive Market Insights Report 2924

With the cost of new vehicle prices at an all time high, its no mystery that more and more car buyers are resorting to used offers to help offset the inflated costs in today’s car market. Though despite it’s potential for helping you keep a few extra dollars in your pocket, buying a used car can be an exeedingly risky process for buyers who are unaware of what to look for. In hopes of helping others avoid huge headaches and financial setback, this article was written as a short guide to buying a used car in 2024.

Getting Started: Figuring out what you want

Identifying Your Perfect Car Match

Think about what you need in a car. Is it just for zipping around town, or are you dreaming of epic road trips? I remember being a 16-year-old in search of his first car, back then JDM metal was dirty cheap with running and driving Nissan 240s trading for an Xbox 360 and a some cash on top. Nowadays you’d be lucky to get a rusted out shell for less than $3,000.

I ended up setting my sights on a Green 1994 Nissan 300zx NA with T-Tops for $4500. Used cars come in all shapes and sizes so you’ll want to factor in your needs when assessing space, comfort, and yes, even style. Ultimately my advice to any future car buyer is to go with what your heart wants. If you’re goin to pay all that cash for a vehicle might as well get one that matches your personal tastes. Sedans, SUVs, hatchbacks… it’s like choosing your character in a video game. Each has its own superpowers and kryptonite.

My buddy once bought an SUV thinking he’d look cool but soon found out that parallel parking it was his worst nightmare. I can’t stress this enough. That flashy car might catch your eye, but can it protect you in a pinch? I learned this the hard way when my “cool” car and I had a little tango with a lamppost. Spoiler: the lamppost won. Remember to check those safety ratings!

The Used Car Budget Sweet Spot

In 2012 I was working a content creator at a local Toyota dealerships in Dallas, back when I remember our store had what was called the “Cash Corral”. The Cash Corral was a designated area of the sales lot for used vehicles under 10k. These cars weren’t going to win any beauty pagents but you could find a solid selection of economy cars with reasonable mileage. Today’s used car market is drastically different, and now that $10,000 budget that used to be the sweet spot for mileage and use has creeped up significantly more to around $15,000.

Lastly, keep in mind all of the ancillary costs associated with vehicle ownership. Besides the price tag, you’ve got insurance, maintenance, and fuel expenses all fighting for your discretionary dollars.

When to buy a used car

  • Seasons with the best deals
    • Generally speaking, the best season to purchase a car is winter given that it marks the time for several year-end sales events across the industry. Toyotathon and December to Remember are notable mentions here. Additionally, many dealers find themselves incentivities to moved stale inventory around this time of year so as not to carry any floorplan costs over into the new year.
  • Seasons with the worst deals
    • Car buyers should be wary of shopping during tax season as the influx of availble cash in customers wallets typically results in increased demand during this season. Dealers respond to the higher demand by reducing discounts and negotiating less on prices. As a result, it can be harder to find good deals or incentives, and buyers may end up paying more than they would at other times of the year.
Ford Showroom at North Texas Auto Show in Dallas

Where to Find Your Next Car

The Great Debate: Dealers vs. Private Sellers

Dealers are like that well-stocked vending machine, offering lots of choices and a bit of peace of mind. Private sellers? It’s like buying from a garage sale. Could be a hidden gem, or you might end up with a lemon. I once bought a car from a guy named Chuck. Chuck seemed cool. Chuck was not cool. The car was a disaster.

  • Facebook Marketplace
  • Craigslist
  • Cars.com
  • Autotrader
  • Autotempest
  • Local dealer websites

Wrapping It Up

Buying a used car is an adventure, filled with highs, lows, and the occasional trip to the mechanic. But armed with a little know-how, a touch of patience, and a good sense of humor, you’ll find the perfect ride to kickstart your journey on the roads. Remember, every seasoned driver started exactly where you are now. So buckle up, enjoy the ride, and remember – Patina Adds Value!