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If you’re shopping for a car, you may already know that buying used is a smart move that greatly expands your choices. The key is knowing where to look for them.Buying a used car will not only save you money but also allow you to shop higher-end brands, says Ivan Drury, Edmunds.com’s senior manager of insights. For example, maybe you wanted a new Toyota Camry. Instead, he says, you can save about ,000 and get a 3-year-old Lexus.Because of the bankruptcy of Hertz rental car agency, along with the many cars coming off lease, there are a lot of used vehicles to choose from, says Jeff Huang, who attends auctions as the remarketing sales supervisor at Westlake Financial Services. “A good used car is a real value proposition — and there are definitely deals to be had,” Huang says.Shoppers looking for great bargains will find them in cars older than 7 years, says Mark Holthoff, used car editor at Klipnik, a website for used car enthusiasts. “That’s because the depreciation curve has mostly been flattened,” he says. For example, a 2014 Mercedes-Benz E-Class sedan, costing ,000 new, now sells for about ,000.Shop in the right placeNew cars are sold only by franchised dealers, but used cars can be purchased from a variety of sellers:Used car departments at new-car dealerships.Used car superstores such as CarMax.Online used car sellers such as Carvana, Shift and Vroom.Car rental sales lots.Independent used car lots.Private parties.Public auctions.You’ll typically find the newest and more expensive models at new-car dealers’ used-car lots, the only place to turn if you want a certified car with a warranty and factory financing. Prices are likely to be higher than other lots’ but negotiable.National used-car chains such as CarMax, online retailers and rental car agencies also offer newer cars, often with factory warranty remaining. You can also get a loan and buy extended warranties. Prices are typically no-haggle.Independent lots, private parties and public auctions typically deal in older or cheaper cars. The upside is that you may find a 20-year-old one-owner cream puff, cheap. It does happen. But most cars have had several previous owners, and a checkered past is not rare. Plus, you’ll have to arrange your own financing.Adjust your expectationsThere is a built-in risk-versus-reward element to used car shopping: The more you’re willing to spend, the less chance the car will need repairs and overdue maintenance. Here’s an overview of the three price levels of used cars:High-end used cars: If your budget is over, say, ,000, you might consider getting a certified pre-owned (CPO) car from a dealer. Shopping for a CPO car is easier because it’s pre-inspected and comes with an included warranty. While you’ll have to pay a premium, you’ll also be able to buy a car with more modern technology and safety features. Of course, you can always buy a non-CPO car and purchase an extended warranty.Midrange used cars: A sweet spot for used car buying is a 3-year-old vehicle coming off a lease. Many of these cars will sell for 40% of their original price and still retain a new-car feel, according to Drury. Another source of near-new bargain-priced vehicles is car rental lots. According to an iSeeCars analysis, Hertz vehicles are selling for an average of ,389 below market value.Older used cars: Many people are afraid that cars from 7 to 15 years old will require costly repairs. But Holthoff points out that new cars can effectively cost the owner ,000 a month in depreciation.“You might have to spend money on a repair, but depreciation is a constant,” he says.To offset repairs, set aside 0 a month so sudden mechanic bills won’t deplete your savings.It’s best to buy older cars from private-party sellers because you can get a better idea of the mechanical condition, Holthoff advises. A used car dealer will show you the vehicle history report, but a private party might have the service records and can answer many other questions.Look for unexpected valueThe used car market is vast and, if you can spot an outlier, you can save big money. Here are a few examples of how to find that diamond in the rough:Cars that haven’t been recently redesigned will sell for less. Check car sites such as Edmunds.com to find out when the last time major changes were made to a model.While there is a stigma to buying a used rental car, the vehicles are well-maintained and priced lower than buying from dealers, Drury says.If a car dealer’s vehicle history report shows you are looking at a former rental car, leave and buy a similar one directly from the rental agency’s sales lot. You’re likely to find it cheaper.Be willing to travel to an area where the car you want is less popular. For example, all-wheel-drive vehicles sell for less in the southern U.S., where winter driving isn’t a factor.Be willing to travel to a more competitive market. A Honda dealer with a city to itself has less pressure to dicker on a CPO vehicle than a dealer in a city with three or four rivals.Used luxury cars often offer the biggest savings, according to Holthoff. The money you save on the purchase can be used if any repairs are needed.More From NerdWalletDon’t Fall for COVID-19 Student Loan Relief ScamsGet Your Finances Ready to Refi Student Loans5 Reasons It’s Smart to Lease a Car Right NowPhilip Reed is a writer at NerdWallet. Email: articles@nerdwallet.com. Twitter: @AutoReed. 5428
IMPERIAL BEACH, Calif. (KGTV) - Someone posted a threat against Mar Vista Academy in Imperial Beach on social media, said San Diego Police Monday.The threat was posted on an Instagram account, police said. Officers did not elaborate on the nature of the threat.According to Sweetwater Union High School District spokesman Manuel Rubio, no children were on campus when the threat was reported.Mar Vista Academy is currently a secure campus, Rubio added, saying there are no plans to increase security on campus Tuesday. 526
HOUSTON, Texas -- Police engaged a driver in a prolonged slow-motion chase along Houston highways Thursday morning.According to KTRK, the chase started after a 911 call to a disturbance. The suspect reportedly pistol whipped a woman and fled when police arrived.Police believed the suspect might have been armed during the pursuit.The chase started out as a high-speed chase. But when the SUV suffered a flat tire, the driver briefly stopped on the highway before proceeding at very slow speeds.Several miles later, the driver again pulled over and the SUV was surrounded by authorities. Yet somehow the SUV was able to drive away again.After another brief chase, a patrol car performed a PIT maneuver to stop the SUV for good.Officers surrounded the vehicle and pulled the driver out.The driver was removed from the scene on a stretcher. 872
Humanity's first visit to a star began this weekend. NASA's Parker Solar Probe will explore the sun's atmosphere in a mission that launched early Sunday. This is the agency's first mission to the sun and its outermost atmosphere, the corona.After being delayed on Saturday, the probe successfully launched at 3:31 a.m. ET Sunday from Cape Canaveral, Florida, on a United Launch Alliance Delta IV Heavy rocket, one of the world's most powerful rockets.Although the probe itself is about the size of a car, a powerful rocket is needed to escape Earth's orbit, change direction and reach the sun.The launch window was chosen because the probe will rely on Venus to help it achieve an orbit around the sun.Six weeks after launch, the probe will encounter Venus' gravity for the first time. It will be used to help slow the probe, like pulling on a handbrake, and orient the probe so it's on a path to the sun. 913
Hurricane Maria is moving toward the west-northwest near 9 mph (15 km/h), and this general motion is expected to continue through Wednesday.On the forecast track, the eye of Maria will move over the northeastern Caribbean Sea today, and approach the Virgin Islands and Puerto Rico tonight and Wednesday.Maximum sustained winds are near 160 mph (260 km/h) with higher gusts. Maria is a potentially catastrophic Category 5 hurricane on the Saffir-Simpson Hurricane Wind Scale. 482