It’s amazing to consider how many used cars change hands on a regular basis. Almost 40 million used cars are sold through dealerships and private parties throughout the year. There were 9.81 million used vehicle sales during 2015’s first quarter, according to Edmunds.com. A little over half, or 54%, of the used cars sold during the entire year were 3 years old or less. The average sales price for a used car the following year was $19,189.00, as reported in the “Edmunds 2016 Used Vehicle Market Report.” This represented a 3.4% increase from the previous year.
Since you’re probably looking for a new or used car, are you planning to take out a loan or purchase it outright? If you’re planning to approach your bank for loan to purchase a used car, it’s important to note that most banks will only grant