More consumers are showing interested in the used car market with the number of people looking at pre-owned or late-model vehicles rising last month, according to a Washington DC radio station.

In March, there was a 5 percent increase in people looking at used cars, which suggest more Americans are watching their budgets during the weak economy, WTOP.com reports.

And the used car deals may get better for people with non-traditional financing. Lon Anderson of AAA said that for people who come with cash or who have pre-arranged their financing may find some “really good deals” in used cars, according to the article. For people interested in keeping costs low, Anderson suggested to look at a certain car.

“The newer the vehicle, the more likely it’s going to burn very cleanly and will utilize all of the latest technology,” Anderson told the news provider.

Recently AOL came out with a list titled The Best Used Cars Under $20,000. Included on the list was the 2006 Pontiac GTO, which was described as “arguably one of the best sport car deals available” in the article.

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At the New York International Auto show, patrons of the annual event were reportedly flocking to see the new hybrid cars and citing their desire to save money in the long run as the reason why they were interested.

Ed Roberti, a 65-year-old Brooklyn resident, was admiring Toyota‘s third-generation Prius, the New York Daily News reports. The car manufacturer claims the car can get 48 miles to the gallon on city streets and 51 on the highway.

“It’s a hybrid so it’ll save you a buck, which is always a good thing,” Roberti told the news provider. “I like the styling. It’s a really great looking car.”

Roberti added that he was thinking about replacing his Saturn, a brand that General Motors said it would stop producing after they released the 2011 models.

Some people have taken the bargain hunting a step further and looked at purchasing used hybrid cars, especially with reports that gas prices may stay around the same level till next year.

According to the Energy Information Administration, the price for regular gasoline is expected to average $2.23 a gallon during the summer driving season.

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A national bank has created a new car loan program that rewards consumers with a lower interested rate provided they purchase vehicles that have been certified to be environmentally friendly.

U.S. Bank will offer a half-percent rate reduction on used car loans certified by the EPA as SmartWay vehicles, meaning the automobile offers low emissions and good fuel economy.

“Including EPA-certified SmartWay vehicles in programs like this is a great way to lower greenhouse gas emissions,” said Margo Oge, director of EPA’s office of transportation and air quality. “We applaud companies that develop initiatives that benefit both the consumer and the environment.”

The bank also stated these car loans will be set up on automatic payment from a U.S. Bank account, making the transaction paperless. The program is available for used cars that are up to six years old.

People who are currently in the market for a used car and would like to take advantage of the program should visit the EPA’s website to find a list of cars that have been deemed SmartWay vehicles.

One of the vehicles listed on the site is a 2008 Chevy Aveo, which “sips fuel at a sufficiently frugal rate,” according to Edmunds.com.

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With a weak economy coupled by a favorable outlook towards gasoline prices, one news provider is urging consumers to get into the used car market to get a great bargain.

U.S. News and World Report recently stated that the consumer price index, which reportedly measures how much people pay for goods and services, dropped .4 percent in the last year, which is the first time it’s done so since 1955.

According to the news provider, this sour news for the economy is good news for consumers who strive for bargains.

One of the areas the magazine focused on was transportation and said that “now is a great time to buy that used Prius,” and that people should hold off on buying a new car.

This goes along with a recent report from the Energy Information Administration which predicted manageable gas prices this summer, USA Today reports. The price for regular gasoline is expected to average $2.23 a gallon and may remain in that range through next year.

With low gas prices and a fuel-efficient used car, a consumer could save more money in the future.

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People in the market for a used car with excellent fuel efficiency may get excited about some data from the Energy Information Administration.

According to the EIA, prices for regular gasoline are expected to average $2.23 a gallon during the summer driving season, which could be described as a relief from the approximately $4 a gallon the public had to deal with last year, USA Today reports.

Tancred Lidderdal, a senior economist for EIA, told the news provider the “bargain prices” on gasoline may entice Americans to drive more. And this may not just be a trend. The administration is predicting the average price per gallon for gasoline will be around $2.42 in 2010.

The report suggests people in the market for a used car may be able to save even more money if the vehicle they purchase is fuel efficient.

Last year, Consumer Reports rated some of the top fuel efficient used cars on the market, which included the 2004-2006 Toyota Prius that reportedly gets 44 miles per gallon, as well as the 2006-2007 Honda Civic Hybrid that gets 37 mpg.

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According to one company, if Americans were given an incentive to buy used cars, it may help improve the economy.

CarMax is urging Congress to consider including used vehicles in the proposed Cash for Clunkers legislation in an effort to have more Americans afford a car.

The proposal legislation aims to increase new auto sales by giving consumers a voucher to trade in their older car for a new one. The amount will reportedly depend on the make or model of the car.

However, if Congress allows used cars to be included into the legislation, the thinking is that it will allow more Americans to purchase a car, thus spurring the economy. Given the popularity of hybrid vehicles, it may also help get older model cars, which may not be environmentally friendly, off the road, which is another goal of the Clunker program.

Because of the current state of the economy, many people have looked into purchasing a used car instead of opting for a new one, citing their need to save money.

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