Used Cars & Used Car Prices (2024)

Used Car Buying Questions

What's the difference between a used car and a CPO Car?

Certified Pre-Owned (CPO) Cars are essentially top-quality, inspected used cars backed by manufacturer's warranties.

Typically, they

  • Are less than 5 years old
  • Have fewer than 100,000 miles
  • Have been thoroughly inspected by factory-trained technicians
  • Include an additional warranty
  • Qualify for new car loan rates
  • Often include additional perks like roadside assistance

For a non-certified used car, what you see is what you get, but at least you can rely on the Kelley Blue Book® Fair Market Range to know what you should pay!

Is age or mileage more important when buying a used car?

Most people think that a low-mileage car is the better deal, even if it's 5-10 years old. But, unfortunately, that's not necessarily true. It really comes down to how the vehicle has been maintained and treated over its life.

An older vehicle with low mileage has parts that may've rusted or deteriorated over time, especially rubber components like hoses, seals and tires. On the other hand, a higher mileage newer vehicle (which is more likely to have newer comforts and technology) can still be in great condition if all the maintenance like oil changes and tune-ups have been done religiously.

Here are a few things you can do to give you more context on a specific vehicle:

  • Research the model's history. Check to see if there are repetitive problems, such as serious (and expensive) issues with the transmission or engine.
  • Know the car's history. Ask the dealer or owner to show you a vehicle history report like Carfax or AutoCheck. Or you can buy a used car report yourself for around $40.
  • Have the vehicle inspected before you buy. Either bring it to your own mechanic or take it to an independent inspection source like Alliance Inspection Management (AiM).

For more information from our Kelley Blue Book editors, read the full article.

How do I get a good deal on a used car?

Rely on the Kelley Blue Book® Fair Market Range for Used Cars. Our valuation experts have done all the calculations for you to show you what you can expect to pay. The Fair Market Range takes into account all the factors that can make used car pricing confusing: mileage, condition, options, plus hard-to-figure elements like seasonal trends and regional variations in over 100 geographical regions across the U.S.

Updated weekly to give you the latest pricing, the Kelley Blue Book® Fair Market Range is based on actual dealership transactions, auction sales, online vehicle listings and our own analytics. We crunch a lot of data to give you a price range you can count on.

But please take note: you have to make sure you're using the right info when you look up a car. Most vehicles are available in a variety of styles (also call "trims"). If you check a price for a base model but then actually shop for a well-equipped style, your expectations may be off. And if you're looking at a specific vehicle from a private seller or on a dealer's lot, you'll need to configure the vehicle accurately - including options and mileage - in order to get the right price for that vehicle.

How do I get a good deal on a used car?

Believe it or not, most people rush when buying a used car. Even if you're not a mechanic, do a thorough walk-around and mechanical look-see. For example, check for uneven tire wear - it could be a sign of poor alignment.

When test-driving, spend as much time as you can. Sit in the car a while and check every interior function, then take to the streets and pay attention to:

  • Seat comfort: Too hard? Too soft? Do you have enough thigh and back support?
  • co*ckpit ergonomics: How is the visibility to the front and sides? Are the dashboard lights easy to see? Are the stereo and heater controls easy to reach? If there's an info screen, check this out thoroughly.
  • Engine noise: Upon starting the engine, listen for tapping or ticking sounds, which can indicate an issue. Once you're driving, there should be no grinding or groaning sounds.
  • Steering vibration: A well-operating steering system shouldn't shake or vibrate.
  • Brakes: The car should continue in a straight line when the brakes are applied.

For more tips about the test drive and info about how to buy a used car, read the full 10 Steps to Buying a Used Car.

Used Cars & Used Car Prices (2024)

FAQs

What is the most accurate car value website? ›

Since 1926, Kelley Blue Book has been one of the most trusted names in the auto industry.

How do I find the real price of a used car? ›

The first step in assessing a used vehicle's true worth is to check its book value. This is the figure you'll find in pricing guides and used-car pricing websites, which lists a vehicle's base retail value. To get a more accurate figure, you must factor in any options as well as mileage and condition.

Who will pay the most for my used vehicle? ›

Private Sale. You can likely get the most money for your car by selling it privately. This is because you're selling to the next owner directly instead of through a middleman like a dealership or car buying website.

Should I buy a car now or wait until 2024? ›

Experts say that 2024 will be the best year to purchase a new car since 2019. As interest rates slowly drop throughout the remainder of the year, payments will become more manageable. Don't overlook manufacturer rate promotions, as they can save you thousands of dollars.

Which is better, Nada or Kelley Blue Book? ›

KBB factors in the condition of the vehicle, local market conditions, and popularity of the vehicle, so their prices tend to be a lower than NADA. NADA values tend to lean higher because they assume cars are in good conditions.

What is the top rated used car website? ›

  • Our Top Picks.
  • CarGurus.
  • Autotrader.
  • CarsDirect.
  • Hemmings.
  • Autolist.
  • AutoTempest.
  • Cars & Bids.

How accurate is Kelly Blue Book? ›

The accuracy of KBB values can vary depending on several factors, such as the condition of the vehicle, its location, and the current market demand for that particular make and model. KBB values are based on a number of factors, such as the car's make, model, year, mileage, condition, and features.

How do you determine the fair value of a used car? ›

You can find the actual value of your car by going to a library or bookstore and referring to a Kelley Blue Book. Or, you can find similar vehicles that are being sold in your area (within 50 miles of your zip code) with local auto trade magazines, or online.

How do you tell if a used car is worth it? ›

What to check when buying a used car
  1. Research used car ratings and rankings. You should also research the make and model's general history. ...
  2. Give the car a quick look for issues. ...
  3. Take the car on the road for a test drive. ...
  4. Inspecting a used car with a trusted mechanic.

Who is paying the most to buy used cars? ›

Sell your car to an individual or private party

Selling your car to an individual, also called a private-party sale, is typically where you can get the most money.

Who gives the most cash for cars? ›

Local junkyards and private buyers typically pay the highest amounts for junk vehicles. Private buyers often pay more because they're buying for parts or personal repair projects, while scrapyards can pay higher prices because they save on dismantling and compacting services.

Who is best to sell a used car to? ›

Best Places To Sell Your Car

If you want the best price for your car, consider placing an ad on a private seller marketplace or to potential buyers in your local area. However, dealers and online car buying services may be your best choice if you want an easy process with a quick turnaround.

What is the best day to buy a car? ›

Best Days To Buy a Car

Mondays and Tuesdays tend to be less busy, as many people are occupied with work and other weekday commitments. By visiting the dealership on these days, you're more likely to receive prompt attention from salespeople and have more negotiating power.

What is the average price of a used car in 2024? ›

According to CarGuru, consumers might see a new baseline price of $24,700 for used vehicles in 2024. That's up from $20,500 in the first quarter of 2020. In addition, the used vehicle market showed a 46% decline in cars priced under $10,000 — and those cars had, on average, 10.4% more miles on them.

Is leasing a car a good idea? ›

Leasing helps protect you against unanticipated depreciation. If the market value of your car unexpectedly drops, your decision to lease will prove to be a wise financial move. If the leased car holds its value well, you can typically buy it at a good price at the end of the lease and keep it or decide to resell it.

Is Edmunds or KBB more accurate? ›

Many experts believe Edmunds' values are more accurate than KBB's. That's not always the case, of course, which is why getting several estimates and averaging still makes the most sense.

What is the best car value search? ›

For over 90 years, Kelley Blue Book has been The Trusted Resource for used car values, helping car owners understand what their used car is worth. Depending on the method of disposal, there actually may be more than one Blue Book Value for the consumer's car, truck or SUV.

Which car review site is most reliable? ›

Car Review Websites
  1. Edmunds.com. Edmunds is one of the more popular car review websites, with an average of 16 million unique visitors per month. ...
  2. Cars.com. Cars.com is one of the largest online automotive listing sites, with over 30 million monthly visitors. ...
  3. DealerRater. ...
  4. AutoTrader. ...
  5. Carfax. ...
  6. CarGurus. ...
  7. SureCritic. ...
  8. Carwise.
Nov 7, 2022

What is the best company to value my car? ›

An HPI car valuation provides the most accurate and reliable car valuation available.

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