Latest Used Car Trends

As technology has advanced there are few things in life that haven’t been affected. One of the biggest beneficiaries of the advances in modern technology are the developments in used cars. There have been a number of used car trends that have changed the way the market operates. We’ve put together this handy guide to help you understand how the market has changed.

Financing

auto loan used car

One of the biggest changes in recent years is the record low interest rates that are currently been given. Current auto loan rates used car have not ever been better, and therefore it’s a great time to buy a used car. If you looked into getting a used car in years past and were daunted by the high interest rates, you should check a loan calculator, like the USAA used car loan calculator, and see what kind of current used car loan rates you can get.

Another advantage in the area of financing is that banks are more willing to give longer term lengths for loans. This helps put more cars in your price range, as the longer the loan length for used cars, the lower each monthly payment will be. Therefore, you can get more car for your money, especially since the average interest rate for used car loan has never been lower.

Finally, many lenders offer a number of tools to make the process even simpler. These included car loan calculators and pre-qualification to make the loan process more predictable and less stressful.

Eco-Friendly

Another trend in used cars is that more eco-friendly vehicles are coming on to the used car market. Eco-friendly cars include options like electric cars as well as hybrid vehicles. These sorts of used cars can save you money in a number of ways. First they save money on gas, as they use little to none. If you’re currently driving a gas guzzler, the money that you save on gas might be greater than the amount of your car payment.

In addition to the economic benefits, eco-friendly cars are also better for the environment. As reports of environmental damage become more prevalent on the news, any action that individuals can take to help reduce their impact on the environment can help.

Features Galore

Another great trend in modern used cars is that there are plenty of new features available. It’s becoming easier than ever to find used cars that have advanced features. Some of the features in the used cars on the market are satellite radio, backup cams, advanced audio inputs, Bluetooth, and others. As a result there’s never been more options for features on a used car before.

In addition to the entertainment and comfort features available in today’s used cars, there’s also a great many new safety features. Airbags have become standard in nearly all cars. In addition to the airbags for passengers and drivers, many used cars also have side airbags and proximity alerts, making them even safer.

Reliability

Finally, car manufacturers have also benefited from the advancements in technology. As a result, today’s used cars are in better shape than used cars have ever been in the past. This means that the used cars available today are likely to last longer than used cars that you’ve purchased in the past. When combined with the record low interest rates, this means that you can get more value out of a used car than ever before.

Another benefit of the enhanced reliability of todays used cars is that insurance rates are also lower. Used cars are cheaper to repair because of the modern manufacturing materials and methods. Insurance companies realize this and have adjusted their rates accordingly.

Conclusion

As you can see, there are a number of trends in today’s used car market. A number of events have resulted in a better environment to get the best rate on used car loans, and financing has become more flexible and user friendly. The cars are cheaper to run and better for the environment than ever before. The cars have more features for comfort and for safety, providing a better user experience, and used cars last longer and provide more value for money and ever before. So take advantage of the latest trends and get your used car today.