Are Used Cars Really Cheaper?
New cars may be cheaper than used, Edmunds.com says
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Auto Insurance,
Autos,
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Cheap Cars,
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Hybrid Cars,
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Insurance,
SUVs
In another one of those market oddities, a new car may be cheaper than a used car right now. Mercury News explains that subsidized interest rates on loans for new models and heavy demand for used cars by frugal shoppers are the reasons. There's no time like the present, so get out there and kick a few tires.
"Prices for used cars are surprisingly high, and in some instances it might be less expensive to purchase a new vehicle, according to auto information company Edmunds.com.One reason is that automakers often subsidize the interest rate on a loan for a new car. Used-car loan interest rates are typically higher.
Edmunds says this scenario plays out for a number of vehicles, including some luxury cars such as an Audi or a BMW. For example, the payment on a manual-transmission BMW 128 coupe would be $506 a month assuming no down payment and a 60-month loan..."
