These Are The Cheapest Places In America To Buy A Car
For most Americans, buying a car is a major purchase, and given the high sticker price of new cars, many may find it sensible to opt for used cars. However, people in the market for a used car aren't aware of the significant money they could potentially save if they expand their horizons and opt to buy these cars from cities other than their own. Noted car search and research company iSeeCars.com has just released a report on the most budget-friendly cities in the United States to buy a used car that provides price trends of used cars across the U.S.
The report is claims to have analyzed data from over 6.5 million one to five-year-old used cars sold between January and August 2023 in the 50 largest metropolitan areas across the U.S. Besides highlighting prevalent used car market trends, results of the study give potential used car buyers deeper insight into the world of the domestic used car market. The data can be used by potential buyers to identify the top cities where they can score the best deals on a pre-owned car.
While there are several interesting takeaways from the findings, it soon becomes evident that Cleveland-Akron, Ohio, consistently ranked as the least expensive place in the U.S. to buy a used car. In contrast, those buying a used car in West Palm Beach-Ft. Pierce, Fla., were likely to end up paying the most.
Least expensive cities to buy used cars
Before we list the cheapest cities across the U.S. to buy used cars, it is important to know that the national average price for a used car stands at $34,227. However, if you happen to shop in Cleveland-Akron (Canton), the average price of used cars sold in the area is $2,769 lower than the national average, with the typical used car costing just $31,458.
Buyers in Cincinnati, Ohio, come in at a close second with an average used car priced at $31,622. There isn't much difference between the rest of the cities in the top 10, with Norfolk-Portsmouth-Newport News, Va., coming in at as the third least expensive city with an average used car costing $31,901 there.
The rest of the list includes cities like Fresno-Visalia, Calif. ($31,912), Orlando-Daytona Beach, Fla. ($31,971), Detroit, Mich. ($31,990), Columbus, Ohio ($32,177), Pittsburgh, Pa. ($32,286), Indianapolis, Ind. ($32,418), and Oklahoma City, Okla., ($32,443).
There are a few reasons why these cities are cheaper places to buy a used car. One is that the cost of living in these cities is generally lower than in other parts of the country. Another reason is that these cities have a lot of competition among used car dealerships. This competition drives down prices and gives buyers more bargaining power. Finally, these cities are all located in the Midwest and Northeast, which are two regions of the country that are known for having more used cars on the market. Having a larger selection of used cars to choose from means you are more likely to find a good deal.
Most expensive cities to buy used cars
Now that you know the cities where you're likely to get the cheapest prices on a used car, it might be useful to know which cities consistently demand the highest prices for used cars.
Topping the list, with an average sale price of $37,632 is West Palm Beach-Ft. Pierce, Fla., which is a significant $3,404 above the national average. The difference between the cheapest city and the most expensive city for used cars is a significant $6,174. The disparity is massive enough for West Palm Beach residents to travel to Cleveland-Akron (Canton), Ohio, buy the used car there, drive back, and still save a significant chunk of money.
Denver, Colo., with an average used car price of $37,233 grabs the second spot, while Austin, Texas, with its $36,827 average price is at third spot. Other notable cities in this list include Seattle-Tacoma, Wash. (36,593), Salt Lake City, Utah ($36,356), and Los Angeles, Calif. ($35,420).
Before making a purchase, it's essential to do your research and compare prices and options in your local area. Keep in mind that while these cities offer lower average prices for used cars, individual deals can still vary significantly based on factors such as the vehicle's make and model, condition, and market demand. Nonetheless, if you're on the hunt for an affordable and reliable used car, consider exploring these cities to maximize your savings and drive away with a great deal.