zzdcar
Home
/
Reviews
/
Buying
/
Here Is Why It’s So Difficult to Know How Much You're Actually 'Saving' on a Used Car
Here Is Why It’s So Difficult to Know How Much You're Actually 'Saving' on a Used Car-November 2024
2024-02-19 EST 22:09:42

Image for article titled Here Is Why It’s So Difficult to Know How Much You're Actually 'Saving' on a Used Car

It’s no great revelation that used cars are way more complicated to shop for than new models. And it’s sometimes even more difficult to determine whether or not a customer got a “good price” on a used car. A recent look into buying habits revealed that online retailers can, theoretically, save buyers some money when shopping used, but the details reveal a different story.

Our friends at analyzed millions of 2012-2018 cars sold in dealerships and on the online used car startups Carvana, Shift, and Vroom. ISeeCars.com found that buying online could possibly save buyers money over getting used cars from traditional brick-and-motor dealerships, but in the aggregate that average savings was a mere 0.8 percent, or $185 overall.

There were specific models that have more savings potential buying online, however, according to iSeeCars:

Image for article titled Here Is Why It’s So Difficult to Know How Much You're Actually 'Saving' on a Used Car

The Chevrolet Silverado takes the top spot with an “average savings” at online dealerships of 6.6 percent. But “average savings” in this context is somewhat misleading, since iSeeCars is not basing the “savings” on the final transaction price, but rather the average of the listed prices for specific models within the 2012 to 2018 model years.

The sample size also isn’t great. On iSeeCars.com, for example, I looked for 2017 Silverados within 200 miles of Austin, Texas which reveals 472 results (which is a lot of trucks, because Texas and all that.)

Carvana’s website, on other hand, only came up with 11 results when I filtered by zip code, Shift only turned up one Silverado in Austin, and Vroom, which doesn’t allow you to search by location, only has 20 listings for 2017 Silverados anywhere.

Moreover, while the iSeeCars listings have a variety of trims, from a super basic work truck all the way up to the loaded High Country, the Carvana listings all seem to be either work truck or LT models (the LT is a mid-level trim that sits above the the W/T and LS trims). Vroom has mostly LT and LTZ (the LZ trim adds upgrades like leather seats and larger wheels)trucks, and doesn’t show any work trucks or fully spec’d-out models.

All of which makes it hard to draw an accurate conclusion about “savings,” since the higher trims offered in traditional dealerships and not online would also drive up their average cost in this analysis.

Meanwhile, if you’re actually searching for a good deal, these numbers are kind of meaningless, since your concern is not the “average savings” but getting a good deal for yourself on a single sale.

At traditional dealers, for example, I was able to find trucks that were dramatically cheaper than the online-exclusive listings. Carvana, for example, has this 2017 LT with 20,000 miles with a “no haggle” asking price of $30,000.

Image for article titled Here Is Why It’s So Difficult to Know How Much You're Actually 'Saving' on a Used Car

A local Nissan dealer, on the other hand, has a similar 2017 LT with 19,672 miles, and an asking price of just under $28,000.

Image for article titled Here Is Why It’s So Difficult to Know How Much You're Actually 'Saving' on a Used Car

But that $2,000 price difference also doesn’t reveal the whole story when it comes to trucks. If you have ever spent time on an automaker’s website configuring a domestic truck, you know there is a seemingly infinite amount of configurations with various options, trims, and engines. One of these LTs could be minimally equipped, while the other could have upwards of $8,000 worth of options.

In other words, sometimes slightly more expensive used cars are actually the better “deal” when you factor the equipment along with the miles and condition. And so while online retailers can dramatically increase the convenience factor, if a used car buyer is trying to get the most car for their money, the key is to focus on value, and know that every deal is different.

Determining value always takes a bit of work, and it’s never as simple as looking at miles and price.

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Buying
For $2,500, This 1990 Mercury Grand Marquis Will Stick It To Ya
For $2,500, This 1990 Mercury Grand Marquis Will Stick It To Ya
While we generally love stick shifts in everything from Miatas to riding mowers, there’s just something wonderfully incongruous about there being one in today’s Mercury. Let’s see however, if its price will keep you from becoming the Marquis de sad. Pontiac’s advertising once touted that We Build Excitement, Pon-tee-ack! Well,...
Nov 12, 2025
For $85,000, This 1984 Jeep Grand Wagoneer Ain’t For No Girly Man
For $85,000, This 1984 Jeep Grand Wagoneer Ain’t For No Girly Man
Today’s Grand Wagoneer doesn’t just rock a 500-horse biodiesel DuraMax, it also the provenance of having once been owned by the Governator himself, Arnold Schwarzenegger. It’s pretty cool, but we’ll see if its price doesn’t terminate your interest in it. Do you remember the late, great Chris Farley in Tommy...
Nov 12, 2025
For $14,000, Here's Some 1990 Pontiac Grand Prix ASC McLaren McLovin
For $14,000, Here's Some 1990 Pontiac Grand Prix ASC McLaren McLovin
Today’s contender is ultra-low milage, and will let you tell everyone that you drive a McLaren. That is if you drive it, which would possibly lower its worth. Before we get there however, let’s see what you think it’s worth now. Yesterday’s may have been plastic, but according to its...
Nov 12, 2025
What Do You Want To Know About The BMW M4?
What Do You Want To Know About The BMW M4?
This is the perfect M4. Why? Because it has carbon brakes, a manual transmission, cloth seats, and that’s it. What do you want to know about it? I’ve already driven a new M3 (), but it was optioned up the ying yang with things I just didn’t want or need....
Nov 12, 2025
For $3,500, Would You Wake Up This 1975 Chevy Cosworth Vega?
For $3,500, Would You Wake Up This 1975 Chevy Cosworth Vega?
Today’s Vega is one of the rare Cosworth editions with the DOHC four designed by that venerable company. That 4-valve engine makes its price intriguing. The fact that engine does’t run? Well, we’ll just see about that. Hey, remember last Friday? I know I don’t. Luckily we have the Internet...
Nov 12, 2025
Ten Things You Can Do To Make Buying A Car On Craigslist Safer
Ten Things You Can Do To Make Buying A Car On Craigslist Safer
Every time we see a we are reminded that buying stuff from strangers through the internet is no walk in the park. But these ten tips could turn it into one. You don’t need to take the person you meet fishing or tell him/her life lessons and stories about your...
Nov 12, 2025
Copyright 2023-2025 - www.zzdcar.com All Rights Reserved