What is the right price for a pre-owned car?

The United States Census Bureau reports that on average, each American owns two vehicles. Yet only nine percent of the global population has a car. About 240 million of the 600 million cars, vans, and light trucks in the world are right here in the U.S. We live in a culture where having your own ride is considered a necessity, not a luxury. Just like any other necessity, you’ve got to find the best way to fit a vehicle purchase into your budget.

“What’s the right price for a pre-owned car?” That is a common concern, according to Tom Dean, Sales Consultant at Dean Honda’s pre-owned lot on Lebanon Church Road in West Mifflin. He says, “That is one of the questions I’m frequently asked, on and off of the sales floor. A vehicle is a big investment, and it is also an extension of the buyer’s values, so consumers are naturally concerned about getting a good deal.”

There is no pat answer for “the right price,” but taking a few moments to define your values and apply them to pre-owned vehicles that interest you, is well worth the time.

Who buys used cars?

We used to think used cars were only for a shade tree mechanic kid or a young couple on a shoestring budget. But in today’s challenging economy, people all over the Pittsburgh area have discovered that a pre-owned car makes good sense in plenty of other situations.

“I’m putting Yinzers in quality, pre-owned Hondas for a lot of reasons,” Tom states. “Some want a second car for the daily commute, to avoid loading up miles on their new vehicle. Maybe they need a fuel efficient alternative to a pickup truck, or a dependable car for a college student in the family. Some are paying off loans or mortgages and just don’t want to add a new car payment to the budget right now.”

What’s the WRONG price for a pre-owned car?

For most people, the amount of money required to purchase any car is meaningful. So there’s always a temptation to buy the cheapest one available. That’s not usually the best criteria. The odds of it being the right car for your needs are extremely slim. The odds of it leaving you stranded or not fitting your lifestyle, however, are pretty good.

So, what is the right price for a pre-owned car?

Determining the right price starts with a values-based decision. What is important to YOU?

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