How Many Used Cars are Sold in the US Annually?
When most people daydream about a new car, that’s exactly what they’re thinking about – a brand new vehicle that nobody has driven before. In reality though, shopping for used cars in Las Vegas is often more cost-effective for buyers.
Used automobiles make up a huge percentage of the auto sales market in the United States. While many people daydream about brand new vehicles, buying used is often the smart thing to do when it comes to purchasing a car.
Total Used Car Sales
According to findings published by Edmunds.com, a leading car reporting website, 2015 was a record year for the used car market in the United States. During the calendar year, a total of 38,276,140 used vehicles were sold. That’s an increase of nearly 6% over the total number of used auto sales in 2014.
The price for used cars also went up as a whole. The average price for a used vehicle in 2015 was right around $18,000, almost 5% over the reported average sale price in 2014.
The Used Car Boom
For many buyers and sellers, it’s clear that today’s used auto market is booming. It doesn’t show signs of slowing down, either.
One reason so many people are looking to used cars is that their current lease may be ending, many of which smart, budget-savvy shoppers are looking to get out of. Instead of leasing a new vehicle, many buyers are looking to put their down payment toward something that they can own.
With financing widely available on used cars, there’s little reason to buy new unless you just have your heart set on that ultimate vehicle. If money is tight, or even if you’re budget-conscious, you might pay considerably less for a model of the car you want that’s just a few years older.
Pricing and availability is making used cars attractive to buyers again, and even people who can afford to buy new are going the used route in today’s market.
Contact Reliable Auto Sales to learn more about buying a used car. Whether you’re looking for a family wagon, a sporty car with major horsepower, or a luxury sedan, Reliable Auto Sales can help you find the vehicle you’re looking for. We also offer financing options in Las Vegas to qualified residents, so you don’t have to wait to get the used car you need.