While not all of the headlines we’ve seen in 2020 have been uplifting, this year does have at least one treat in store. If you’re in the market to buy a used car, the experts think this may be the time.
The Manheim Used Vehicle Index features a Manheim Market Report that looks at changes in the market. It found that there was an almost 12 percent drop in wholesale used vehicle prices in early April, compared to March prices. The report found that prices fell in all major segments, with vehicles that were three years old falling almost 5 percent.
Car and Driver compiled a list of vehicles that they recommend in the $5,000 range. It included favorites like the Ford Ranger, Toyota Sequoia, Honda Accord, and Jeep Wrangler. iSeeCars also released its recommendations, and it featured a 2015 Mazda6 for around $13,000 that was the best option in 20 metro areas.
It is worth noting that you may get less money for your used vehicle if you choose to sell it or trade it in. So, make sure to factor that into your decision-making process. Of course, the financial experts here at Village Motors of Conover are always ready to work with you do secure a great deal on your trade-in.
Additionally, despite the dip in the market, the Manheim Market Report found that sales for used luxury cars and SUVs are still going strong.
If you’re ready to get the deal of a lifetime on a high-quality used vehicle, please stop by Village Motors of Conover and browse our lot.
Did you know more used cars are bought and sold than new cars every year? Still, despite their popularity, used cars can sometimes get a bad rap. If you’ve ever been surprised by hidden damages, you might be understandably cautious about picking up another ride that’s been previously-loved. That’s where Certified Pre-Owned programs come in. What are Certified Pre-Owned (or CPO) vehicles, though?
Requirements and Standards
When you buy a car through a CPO program,
you’re purchasing a vehicle that meets specific requirements. Usually, the car
has to be under a certain age and mileage and must qualify for the program by
meeting the standards of a long, rigorous mechanical and cosmetic inspection.
To offer extra reassurances, used cars
purchased through a CPO program come with the backing of several warranties.
Often, manufacturers will offer to cover anything that needs to be repaired
within a short time of the initial purchase, and many powertrain warranties on
CPO vehicles last several years.
In addition to warranties, you’re likely to
get some additional perks when you buy a certified pre-owned vehicle. 24/7
roadside assistance is pretty common, as is the car itself coming with a free
Vehicle History Report and the option of dealership maintenance plans.
If you want to learn more about our Certified Pre-owned program or browse our extensive inventory, pay us a visit at Village Motors of Conover today.
If you are in the market for a vehicle and you have been denied a loan from some banks because of your credit history, you might be left questioning why your credit score even matters at all.
Banks use your credit score as a quick vector check of your creditworthiness,
or how likely you are to repay a loan. Low credit scores often indicate a
limited credit history, defaulted payments, or a high debt-to-income ratio.
None of these factors are catastrophic, though. Whether you have a short credit
history or one that highlights a few mistakes, you can still get into the car of
The Impact: Banks
typically view low credit scores as red flags, and could deny you outright for
an auto loan. Without the self-sufficiency afforded by a vehicle or the
opportunity to improve a bad score, the credit score cycle can seem self-perpetuating.
If your score is just high enough to be approved, you will still be subject to
high-interest rates that can make repayment difficult.
The Village Motors of
Conover Difference: At Village Motors of Conover, we aren’t like all of the
other dealerships looking to make a quick buck. We value people over credit
scores, which is why we work to offer you a great deal regardless of your
credit history. No matter the severity of your situation, we will do our best
to get you financed and on the path toward rebuilding your credit.
If you have questions about credit or would like to get approved for a new vehicle, call Village Motors of Conover today.