Earlier this week the New York Times published this article with the headline “After Running Hot, Market for Used Cars is Cooling?” Yet, I wonder if the market for used cars is really cooling off? It depends on what your definition is of a “hot market.”
When most people think of a “hot market” they think of high prices and lots of sales. So when most people think of a cooling market, they think of lower prices and fewer sales, but as it turns out, that’s not what’s happening. [keep reading]
For many of us out there we hear those words and we think of things like going to the dentist, attending a funeral or maybe sitting in bumper-to-bumper traffic. In this day and age, shopping for a car has become a complicated process that can leave your average consumer feeling overwhelmed and at a loss. We can search on the Internet, look through the classifieds or do it the old fashioned way and stop by an actual dealership. With so many options, where do we even begin? Then you add in the other dreaded word: BUDGET. I mean, let’s be honest, if we all had millions of dollars at our disposal, this whole car buying thing would be a lot less complicated. Of course, this is not the case for the majority of us out there. So here’s the challenge: Is it possible to find a quality car when you’re shopping on a budget? Let’s say a budget of $5,000? This seemed to be a respectable amount so I set out on my journey with the hopes of proving to your average American consumer that their piece of that automotive pie in the sky is attainable.