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Interested in a used car? New-vehicle sales may be your friend

Posted on Tuesday, January 20, 2015 at 8:02:12 AM

Are you in the market for a used car? If so, then you might be in luck. According to the NADA Used Car Guide, strong demand for new vehicles has helped keep prices down for used cars.

Dealerships today could have a wide selection of used options for prices similar to, or lower than, those found during the first quarter of 2014. Used-vehicle sales are expected to be high throughout 2015. 

As a result, this can have a positive impact on new-vehicle buyers as well. The demand for used will cause dealerships to be more interested in quality trade-ins.

There is also a desire for energy-efficient vehicles today. According to TrueCar, some of the most affordable vehicles are hybrids and electric cars. For example, the January price for the Ford Focus Electric averaged 16 percent below the manufacturer's suggested retail price.

"Fuel savings are not top of mind to many consumers right now, and that makes this a great time to buy a hybrid or electric vehicle," said John Krafcik, president of TrueCar. "With gasoline prices now averaging just $2.10 per gallon, and vehicle preferences tied so closely to short-term gasoline prices, automakers are heavily discounting their most fuel-efficient cars to clear inventories."

For buyers interested in affordable auto financing and great deals, 2015 might be the time to shop used and energy-efficient vehicles.