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  1. Personal Finance
  2. Saving Money

Get a deal on a used car

Published: Jul 25, 2011 4 min read

If you’re in the market for a used car, you may have noticed that prices are higher than they used to be. Blame limited supply (following reduced production and fewer leases amid the financial crisis) combined with higher demand. Used cars are now keeping about 12.5% more of their value than they did three years ago, says Alec Gutierrez, manager of vehicle valuation for Kelley Blue Book. As a result, prices on pre-owned autos have been closing in on fresh models.

But you can still save as much as 10% to 15% on a one-year old car vs. a new car, and about 30% on a three-year-old car, Gutierrez says — even more if you follow this advice: