Many car buyers have been wondering which factors actually determine a used car's value or whether you can buy used cars cheap or have to pay a lot for them. With the financial crises we are facing today, there are in particular two types of vehicles that you can make a great bargain with:
- Vehicles with poor fuel mileage
- Vehicles that can be viewed more as toys rather than cars.
With the gas prices we have today it should be pretty obvious why the demand for poor fuel mileage cars is not so high. If you go to a pawnshop you'll probably see plenty of the vehicles mentioned in the second group. Here you can find anything from customized Camaros to modified Harleys.
But there's another reason to purchase these cars; another element that makes them even cheaper if you act pretty fast. It's estimated that 40 plus percent of the increase in gasoline price is caused by the decreased value of the dollar due to the home mortgage crises. It's also estimated that gas prices will drop below $3 a gallon in relatively short time from now and what will happen then is that the value of the cars mentioned above will rocket back up to their 'good old' prices.
Below I have listed 5 of the cheapest used cars on the market right now:
Dodge Grand Caravan
This Doge minivan went for about $24,000 two years ago, in 2007. Today the trade-in value is around $7,000.
Jaguar S-Type
This supercharged Jaguar had a list price in 2007 of about $64,000. Today you can buy it for than $25,000.
BMW 760Li
This V-12-powered BMW sales price was more than $120,000 in 2007. Today you can buy it for less than $80,000. Be aware that it needs to be serviced by BMW mechanics, and that can be pretty expensive.
Buick Rainier
This Buick's sports vehicle went for more than $32,000 two years ago. Today you can purchase the same make and model for about $9,000.
Lincoln Navigator
The four-wheel-drive Lincoln Navigator went for more than $52,000 two year ago. If you buy it from a private person today you can get it for around $25,000 which is half of the previous price. If you want to buy used cars cheap, this is something for you.
Are you searching for cheap used cars then you should do yourself a favor and check out these used auto dealers and also learn about the other sources of vehicles that cost a fraction of their listed values.
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