For instance, General Motors is offering a $4,000 rebate on the 2013 Chevrolet Impala with a 2014 model about to debut. — Consider a certified used cars. These cars undergo rigorous inspection and carry an extra warranty of at least one year backed by the manufacturer. And the price premium can be as little as five percent. As new car sales boom toward 15 million for this year, used cars are returning to their traditional status as a bargain buy.
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According to the used-car valuation experts at Kelley Blue Book, the average value of a one- to three-year-old used vehicle has increased from $15,000 in 2008 to more than $23,000 in 2011, which amounts to an average boost of nearly 16 percent per year.This is causing an affordability my company problem among cash-strapped buyers who cant otherwise afford a new car, which on average costs nearly $30,000 according to the industry research and forecasting company TrueCar.com. While the pace of used-car appreciation is likely to subside as supply, and ultimately sales, improve, shoppers in the market for a used car will continue to pay more, making it difficult to buy at a discount. says Alec Gutierrez, manager of vehicle valuation for Kelley Blue Book. This situation can be blamed largely on the economists old friends, the forces of supply and demand. The industry is currently suffering from a diminished stock of used models on dealers lots, just as pent-up demand is bringing buyers back into the market.
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