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Manassas Public Auto Auction is now offering FINACING on select vehicles. All Finance vehicles come with a 3 months warranty. Whether you have goo bad or no credit, our finance department will help you. Apply online now.

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Are used cars a good deal again?

Are used cars a good deal again?

 

(MoneyWatch) Used car prices are falling. For bargain hunters, that means a one-year old used car suddenly may be a better buy again than a comparable new model.

In recent years, I have pointed out that used car prices had risen so high that it often made more sense to buy a new car if you found the right rebate or low-interest loan. Now the soaring of used car prices — caused partly by a shortage of trade-ins — is reversing as new car sales boom.

Values for used cars sold at wholesale auctions hit a three-year low in April, according to Kelley Blue Book. The price of an average one-year old used car has dropped to 81.5 percent of the list price of that same model new car, says Kelley analyst Alec Gutierrez. That translates to a $110 per month savings vs. a new car with a five-year loan, he calculates.

Different segments of the used car market performed differently. Subcompacts showed a small gain (0.7 percent) for this year through April and mid-size pickup sales were up 0.8 percent as increasing construction activity stimulated demand. But values are down 12 percent for used gas-electric hybrids as recent falling gas prices curbed interest in these high-mileage cars.

 

Here’s a closer look at three 2012 models that illustrate good deals among used cars:

Ford Fusion The biggest bargains often lurk where a car has just undergone major redesign. The 2013 Fusion has won praise from critics. But if price is your passion, you can get a 2012 Fusion for nearly 30 percent off the new car price. According to Kelley Blue Book’s kbb.com, a typical 2012 Fusion SE with 22,500 miles on the odometer is selling for $16,187. For a comparable new Fusion, Kelley’s target price known as “fair purchase price,” is $23,088.

Of course, you can save even more with a two-year-old 2011 version of the Fusion. A 2011, typically with 31,500 miles, averages $15,427 for a one-third savings over the new car price, according to kbb.com.

Volkswagen Jetta Even among compact used cars — down only 1.2 percent year to date — the 2012 Jetta offers good value. Volkswagen’s biggest seller in this country, averages $14,453 as a 2012 2.0L model. That is a 16 percent savings over the new 2013 Jetta’s Kelley target price of $17,229. With a year-older 2011 model you would save nearly 25 percent with a $12,948 average price.

BMW 7 Series “High-end luxury cars present the most affordable buying opportunity used,” says Kelley analyst Alec Gutierrez. If you have the bankroll for a BMW, the 2012 740i with 22,500 miles averages $57,538. That is a $12,393 or 18 percent savings over a new model at $69,929. By looking for a $43,356 2011 model, you could save $24,573 or 35 percent vs. a new 2013.

Whether you are looking for a luxury used car or a frugal subcompact, here are some tips that will help you find a bargain:

 

— Consider a brand that does not hold its value particularly well. In the annual ALG ranking of brands with the best used-car values, Volkswagen is ninth and Ford 11th of 15 mainstream brands. Our other example, BMW, ranks sixth among luxury brand. Look at the contrast with a model from the top-ranked brand, Honda. A new Honda Civic has a target price of $18,210 while a 2012 model averages $16,500. That works out to an average difference of only $20 a month on a five-year loan, points out analyst Alec Gutierrez.

— Check over new car rebates and low-interest loans before you firmly decide on a used car. These deals are not as widespread as a year ago, but some are still offered. For instance, General Motors is offering a $4,000 rebate on the 2013 Chevrolet Impala with a 2014 model about to debut.

— Consider a certified used cars. These cars undergo rigorous inspection and carry an extra warranty of at least one year backed by the manufacturer. And the price premium can be as little as five percent.

 

As new car sales boom toward 15 million for this year, used cars are returning to their traditional status as a bargain buy.

 

© 2013 CBS Interactive Inc.. All Rights Reserved.

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Graduate Specials

ImageTake $100 off the asking price for all high school and college graduates. That’s all for the month of June. Tae advantge of this limited offer today. Just mention to us that you graduated and we will take $100 of the price. We now have many vehicles in stock to accomodate your needs. Vehicles as low as $1950. Come on in where deals are always “GREAT”.  AT Manassas Pubic Auto Auction we treat you right everyday! Call us now @ 703-367-9110 for more info.

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Who are we?

Manassas Public Auto Auction is an open public auto auction where dealers and public can buy cars at the same prices everyday. SInce, 2009, Manassas Public Auto Auction sold thousands of vehicles to dealers and public around the united states. If you are in the market for a vehicle, give us a break and stop by to look at our inventory. Nothing to hide. All our vehicles are VA inspected and then offered for sale at low prices. We now offer Financing on select vehicles but most of our vehicles are priced for cash only sales. Open 7 days a week, we are here to help you find your next vehicle at a low and affordable price. From Hondas to Audis from sedans to Trucks, we got it all. Come on in. Or call now 703-367-9110 for more details.

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Used car prices could go up as much as $1000

The storm that devastated coastal New Jersey and New York will likely boost used-car prices across the USA

Used car prices are expected to gust from $200 to $1,000 higher across the country in the wake of the destruction wrought by Superstorm Sandy.

Buyers are already starting to show up at dealers as they seek to replace the 100,000 to 250,000 vehicles that the National Automobile Dealers Association estimates were lost to the storm that devastated New York’s Staten Island and coastal New Jersey.

“This weekend was extremely busy,” says Brian Benstock, general manager of Paragon Honda in the Queens borough of New York. He estimates half of the buyers over the weekend were those looking for replacements for storm-damaged vehicles.

Car buyers’ research website Edmunds.com says prices could rise as much as $700 to $1,000 a car.

Economists for two of the nation’s largest wholesale auto auctions say they expect the sudden burst of demand could raise used car prices by up to 2% — about $200 on a $10,000 car — above the level they would normally be.

“It’s definitely going to raise used car demand,” says Tom Kontos, executive vice president for Adesa Analytical Services, the consulting arm of one big auction. “It’s going to keep prices higher than it otherwise would be.”

Although prices will be higher, many buyers may not notice. Before the storm, prices had been drifting down as they typically do in the fall, Kontos says. The average price of the recent-model used cars sold to dealers at wholesale auctions was $9,742 in October, down 1.4% from a year ago.

The storm’s devastation “is going to keep rices from softening as much as they otherwise would have,” Kontos says.

No matter how much prices are raised by Sandy, at least the impact will be temporary, says Tom Webb, chief economist for Manheim Consulting. And the vehicle impact isn’t as bad as arose from Hurricane Katrina, that flooded New Orleans and the Gulf Coast in 2005.

Sandy not only is causing a surge in demand, but affects supply as well. At Paragon Honda, Benstock says many buyers are using their insurance checks as down payments on new vehicles, instead of just buying used. “A lot are finding they can get into a new vehicle for less” than they expected, he says.

But there are fewer new models on hand. For instance, Toyota says it lost up to 4,000 new vehicles awaiting shipments to dealers. Ford says it lost 800 new vehicles in inventory.

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look at the list of Best Used Cars Under $5000

Most Fuel Efficient, Cheap to Maintain and Reliable Used Cars Under $5,000

Families across the United States have been hit hard by economic recession, with a majority of families in many parts of the country simply unable to afford a brand-new car. Rather than taking out a loan on a later-model used car, consider the cars on this list of quality and cheap-to-run used cars under $5,000.

  The cars on this list were chosen under the assumption that the buyer is paying cash, rather than taking out a loan which carries a monthly payment. Your options will be much open to many later-model cars if you go through a dealership, but many cars made in the last several years are not built well.

  Those that fall under the magic $5,000 price point actually built to last and worth driving will likely be a couple of years older, and thus likely be offered without a warranty.

  On the bright side, owning an older and inexpensive used car outright, that is to say without owing money to the bank, will be a huge weight off your shoulders should you lose your income or face other financial difficulties.

  All of the used cars on this list have a low total cost of ownership, factoring in purchase price, gas mileage, insurance and cost of repairs.

5. Used Honda Accord, 1995-1999

  You won’t have to look too far to find a used late-1990s model Honda Accord under $5,000 that has been well taken care of. The Accord is larger than the other sub-$5,000 fuel misers on this list, so it might be the only viable option here for families with older children.

  There is a reason why there are more older-model Hondas on the road than cars from any other automaker, hands down. These cars stand the test of time. Honda Accords have enough technology that silly little things break from time to time, but even a “new” (refurbished Japanese import) engine will not put you out of house and home.

  The V6 models are known for their durability, but of course don’t carry as good fuel economy as their inline-4 counterparts.

4. Used Hyundai Accent, 2003-2007

  Right around the turn of the millennium Hyundai began to drastically improve its product offerings, especially the lowly little Accent. The new generation of small Hyundai cars will still come with factory warranties due to the crazy 10 year powertrains Hyundai has been offering.

  The Accent makes a great used car if economy of operation is your biggest concern. Because it is newer than most of the used cars under $5,000 you will find anywhere, a nearly-new Accent will be fresh if it has been maintained. Early long-term consumer reports show that the Accent will stand up to the test of time.

  You won’t win any races or jaw-drops, but the Accent is a fine daily driver, especially with manual transmission.

3. Used Subaru Impreza, 2000-2002

  The used non-WRX Impreza market is full of huge bargains, as most used Impreza buyers spring for a few extra thousands for the WRX. That makes the XXXX-XXXX standard Imprezas a super steal as frugal and fun used cars. Though not legendary for their gas mileage, these cars won’t burn you too bad at the pump.

  Not quite as cheap to repair as the more mainstream Japanese compacts, the Impreza makes up for it in high-weather climates due to its solid all wheel drive system. These trusty little bargain-basement performers will handle in rain and snow better than nearly every compact car on the road.

  A well-maintained 2000-2002 Subaru Impreza can give you years of service as one of the best used cars under $5,000 out there, but keep up on your maintenance or things will get expensive down the road.

2. Used Ford Ranger, 1998-2002

  Ford’s Ranger is the much less common smaller truck offering. What the F-150 gets in thrills and mass-market options, the Ranger saves as a great no-frills used work truck or daily driver. These Rangers are so easy to work on, with inexpensive parts, that they make great used cars you can do simple repairs on yourself.

  Plus, with Ford’s perfectly adequate four cylinder, the light-on-its-feet used 1998-2002 Ford Ranger offers top marks for utility and cheap cost to drive as the months and years go by.

1. Used Honda Civic, 1994-2000

  The Honda Civic earning top marks as an inexpensive, great on gas and cheap to main used car is the biggest no-brainer on this list. Civics hold their resale value so well that you will not be able to get as new a model for under $5,000.

  Still, with some of the cheapest repair bills of any car in the industry due to the sheer number of mid-1990s used Honda Civics still running around.

  Honda’s B15 series of engines, used in many of the Civic models during this period, are absolutely legendary for their durability. Pair that with a chassis and snick-snick manual transmission that can be driven as a gas miser or a wanna-be sports car for the poor man, and you have a winning used car combination.

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Another Happy New Customer

Another Happy New Customer

Lauri A, took advantage of the pre-sale event and purchased this nice well manintained 2001 Honda Accord. We got a bunch more just like it. Come on in.

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