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Can You Get a Decent Used Car for Under 15k in This Market?

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If you’re in the market for a used car, you’ve certainly noticed that prices have increased over the past few years. Despite higher prices, it’s still possible to find quality used cars under $15,000. Here are some tips to help you find a decent used car in this market.

How Did We Get Here?

Used car prices have skyrocketed in recent years due to high demand and limited supply. On the demand side, many consumers turned to buying used cars instead of new ones because of the pandemic-related travel restrictions, personal safety concerns, and economic uncertainty.

On the supply side, there was a shortage of available new cars because of the global computer chip crisis and supply line delays that affected car production. These things also reduced the number of fleet sales, repossessions, and off-lease cars entering the used market, meaning there just weren’t enough vehicles available to meet the new demand. As a result, used car prices soared. In some cases, buying a used model was more expensive than buying its brand-new counterpart.


Don’t Give Up: Used Cars Under $15K Exist

The current rise in used car prices does not mean you should just give up on finding a great vehicle at a reasonable price.

Here are some strategies that can help you find reliable used cars on a tight budget in this crazy market.

Keep Looking for Good Used Car Deals

Finding decent used cars under 15k is still possible in this market if you follow good buying strategies and remain flexible. The good news is that the used car market is expected to improve in the rest of 2023 as new car production recovers from the chip shortage and supply catches up with demand, and that means that prices might stabilize sooner than you think.

This post may contain affiliate links. Meaning a commission is given should you decide to make a purchase through these links, at no cost to you. All products shown are researched and tested to give an accurate review for you.

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