According to U.S. News & World Report, people interested in car shopping might want to consider looking at a used car first when it comes to a couple of models.
A number of reports have said it’s a good time to buy a used car with the Dow Jones reporting that used car prices had dropped in the last year, but according to the magazine, there are a couple of cars that would be good used car purchases anyway.
Take the Volvo S60 for example. It’s rumored that a new design for the S60 will be coming out in 2010, which means a 2009 model will depreciate in value more rapidly than normal. But the magazine says a 2005 model might be worth your while as Kelley Blue Book estimates it at $13,585.
Another car the magazine suggests buying used is the Mitsubishi Eclipse. U.S. News says a 2008 Eclipse is around $6,000 less than a brand new model and with a high depreciation rate, it’s likely you can an older model even cheaper.
Across the board it is cheaper to buy a used car today than it was a year ago with the National Automotive Dealers Association reporting that used cars in every category fell in 2008.