After looking at more than 20 million used cars for sale over the past year at dealerships throughout the country and weighing the prices of franchised dealers against those of independents, iSeeCars suggests their respective deals aren’t that different. All told, the prices at what iSeeCars referred to as new-car dealers (i.e. franchised lots) were only an average of 0.26 percent better than their used-car dealer counterparts (i.e. independents), according to iSeeCars.
Twenty percent of the time, dealers have cut the retail price of a used car an average of nearly 7 percent by the time it gets in the hands of a consumer. That’s according to iSeeCars, which came to this conclusion after analysis of 30 million used cars. The company’s analysis also determined that prices on used cars are reduced between one and six times throughout the period in which they’re listed for sale.
Back in the day, if a car reached 100,000 miles it was probably a reliable sign that it was time to trade it in and get a new vehicle. These days, the 100,000 mile threshold is much less of an issue thanks to numerous advances in engineering, automotive technologies and materials. In fact, these days it’s not unheard of to see cars with 200,000 miles still chugging along.
iSeeCars…empower them to land the best deal possible. The company’s algorithm can track how long a car has been listed and how many price changes it has undergone, which can offer consumers greater leverage when it comes to settling on a price.