CarGurus: Prices dip for used cars

December 19, 2011 12:00 AM

Many may not be able to swing an expensive car purchase at this time of the year, with holiday shopping eating up much of their budget, but the automotive research website CarGurus recently revealed that there are currently some great savings to be had on used cars.

"Used car buyers who delayed a car purchase earlier this year due to high prices will be pleasantly surprised by how much has changed in recent months," said Langley Steinert, founder and CEO of CarGurus. "The key for year-end shoppers is to do ample online price research so they can move quickly when they find a great deal. We expect many of these great savings opportunities we have identified to be gone by early next year, when prices will climb back up."

On average, the price of used cars has dipped by 4.1 percent since September, but some popular models have even more significant price decreases. The 2007 Toyota Prius, for example, is down 15 percent over the past three months, with the Hyundai Accent from the same year down 13 percent.

When buying a used car, drivers need to ensure that they keep up with the vehicle's auto maintenance. Regular tune-ups and oil changes can ensure that even a car with significant miles already on it stays on the road for longer.

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