RICHMOND, Va. (WWBT) - There is a sweet spot when it comes to buying cars and that’s looking for one that is 3-years-old.
A three-year-old vehicle most likely came off a lease.
Many of these cars will sell for 40-percent off the original price according to our partners at the financial website Nerdwallet.
Cars that are 7 years or older can have significant discounts because the depreciation curve has pretty much been flattened.
A 2014 Mercedes Benz E-Class Sedan sold for 70,000 new, now you can get one for about 20 grand.
Nerdwallet experts say when it comes to used car warranties are a must. If they don’t offer one, you may want to shop elsewhere.
Be willing to travel to find your car. All-wheel drive vehicles are much cheaper in the south where they don’t have as much winter weather.
Look for cars that haven’t been redesigned in a while, they usually sell for less.
You’ll find that information on Edmunds.com.
Always look at the vehicle’s history. If it shows it was a rental car and you’re at a dealership, you may want to go to a rental car shop and buy directly. You’re likely to find it cheaper.
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