I've been looking at used cars lately, and honestly the prices still feel high to me, especially for older cars with a lot of miles on them. I keep expecting things to have cooled off by now, but a lot of what I'm seeing doesn't look like much of a bargain. Has anyone here bought a used car recently? Did prices actually drop in your area, or are they still pretty much the same? And what are you doing instead — keeping your old car running a bit longer, buying from a private seller, or just waiting to see what happens? I'd love to hear what other people are seeing out there.
Prices have eased a bit from the 2022 peak, but older high-mileage cars are still the stickiest part of the market. A few things worth doing: compare listings against Kelley Blue Book or Edmunds values, check certified pre-owned deals at dealers (they sometimes come with low-rate financing), and always get a pre-purchase inspection from an independent mechanic before buying from a private seller.
Worth adding: interest rates matter almost as much as the sticker price right now. Used-car loan rates are still high, so getting pre-approved at a credit union before you shop can save more over the life of the loan than haggling a few hundred dollars off the price.