Used car prices are skyrocketing, with some costing as much as a brand new car.  Cheddar News reporter Ashley Mastronardi has more on what's behind rising prices for pre-owned vehicles and some tips for getting the best bang for your buck.




<div class="block">Used car prices are skyrocketing, with some costing as much as a brand new car.  Cheddar News reporter Ashley Mastronardi has more on what&#39;s behind rising prices for pre-owned vehicles and some tips for getting the best bang for your buck.</div>
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<div class="block"><i>Updating to clarify that Major World says it does have price stickers on cars.</i>
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Wake Up With Cheddar

Tips for Buying a Used Car: Work With Reputable Dealers

Welcome back to Cheddar News. I'm Shannon Lanier and I'm thanks for joining us. You know, used car prices are skyrocketing some even costing as much as a brand new car. That doesn't make sense with Cheddar News is Ashley Matri has more on the rising prices for pre owned vehicles and tips for getting more bang for your buck, check it out. Despite none of the used cars for sale at major world in New York City having visible price tags, customers still had major sticker shock. The prices are comparable to new cars right now. I've been shopping for a little while and the prices are really high. Experts say pre owned cars under $20,000 are becoming harder to find. Harold Bendel. Founder of Major world says the prices of used cars are going up since many people opted to buy out their leases in the pandemic. Would you give up a good car if it runs well? And you have to spend 25 30 $40,000 on a new car, which means less used cars are available on the lot on top of which whatever was generated you had all these used car dealers who were traditionally in the business looking for cars. Everybody was scrambling. So, what do they do? Well, if you pay a dollar, I'll pay two, these two Fords are on sale for $20,000. Each. Bend says you can find cheaper used cars for $10,000 even $5000. But he says those cars will likely $100 you to death, meaning you'll be in the shop constantly for repairs. There's a reason why certain cars priced higher and that's because they're winners. If you're in the market for a used car, Bendel's number one tip is to stick with the winners. Dependable brands like Honda and Toyota. He also says to stick with dealers who are reputable. And he says if a price seems too good to be true, it's up to you to do the math. Look at the term, look at your payment multiply the two together and if it's way above what you thought you were paying, then you should stop and ask yourself why. But experts say the prices of used cars are cooling, they're down about 6% from last year. Ashley Mastronardi chatter news. Well, experts also say if you really want to get a sense of how your preowned car runs, make sure you take it for a test drive. That's like the most basic point. Yeah, make sure everything is working and you can even try to take it to a mechanic to have, I've always done that. I've always taken it to a mechanic. It's like 50 bucks at a lot of places. I don't know. It sounds ok. It's driving the brakes work. I don't know.