- Posted May 16, 2014 by
Used car prices are dropping
If you are searching for a used or pre-owned car, you may want to turn your focus to five car segments that will soon get much cheaper. According to Black Book, a car value data company, cars in certain segments are expected to drop in value this month and through July, as tax refund season ends.
Cars in the entry and upper mid-size sedan, full-size sedan, full-size crossover and compact car segments are expected to drop in value over the coming months. Average prices are expected to drop anywhere between 3.4 and 5.9 percent during this period, depending on the segment.
Certain luxury sedan and crossover models are a particularly great buy right now, as many have depreciated quickly over the last few years. With prices falling over 15 percent since the same time last year, the dream of owning a luxury car may not be too far off from reality.
Notable models are the Mercedes-Benz E-Class (17.4 percent drop), BMW 3 Series (16.2 percent drop) and Cadillac SRX (15.5 percent drop). These cars can be had for lower than average prices, and can be found with low miles in recent model years.
Pre-owned car dealers such as Enterprise Car Sales have many of these models in stock often, so finding the right car for you at a great price shouldn’t be much of a challenge.