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Looking for a used car at a good price? Have we got a deal for you!
Not only have manufacturer incentive programs made buying a new car far more attractive in recent years, but used vehicles are seeing hefty price reductions, as well.
Roger Belisle, general manager at Markley Motors Inc., said incentives like zero-percent financing and employee pricing have driven down the prices on used late models.
"Sometimes, the late-model leases and rental cars we boy at auctions are half the price of when, they were new," said Belisle. "The heavy incentives drive these prices down and, ultimately, the consumer wins."
According to Belisle, the Buick, GMC, Pontiac and Honda dealership usually buys 25 autos per month at the GM auctions and sells one used car for every new car. Clearly, it's been a successful strategy as Markley has become the sixth-largest used car dealership and the 11th-largest new car dealership in Colorado.
What Belisle sees as an advantage, however, Greg Mulroy says may be cutting out a piece of the independent dealers' pie. The owner and manager of Mulroy Auto Sales in Loveland says the low prices on latemodel cars also can hurt private individuals looking to sell their vehicles.