As the recession has prompted many Americans to tighten their purse-strings, many consumers are starting to reconsider the possibility of purchasing a low-priced used car.
According to AOL News, car dealerships have reported increases in used car sales of anywhere from 20 percent to 35 percent in the third quarter of 2010. Many of these used vehicles are priced below $10,000 and are no longer covered by warranty, and American drivers are reportedly increasing their demand for such cars.
While these cars are not in like-new condition, dealers reportedly do basic checks to make sure the vehicle has no glaring defect, even if that vehicle is priced as low as $3,000. The new conditions in the used car market may be advantageous for those with bad credit history that need to purchase a reliable, low-price vehicle.
“We don’t offer a warranty, but if you buy one of those older, cheaper cars from us, and something major comes up, like a blown engine, we would definitely stand behind it. The consumer could return that vehicle and exchange it for another one,” said Jeff Dyke, executive vice president of the car dealership group Sonic.