Ever wondered where you're most likely to get a great deal on a used car? Well, wonder no more, because a new study has crunched the numbers for you.
NetCredit analyzed Car.com listings for 14 popular car models across 150 major US cities and adjusted their prices to normalize a list of parameters, like mileage and number of owners. Finally, they worked out each state's price premium for used cars compared to the national average.
Listings for cars priced under $1,000, with less than 50 miles or lacking information about the engine/fuel/transmission were not included in the study.
Alaskans face the biggest price premium of any state, shelling out 9.70 percent more on a used car than the average American would for the same one.
Used cars are similarly pricey in Hawaii and Mississippi, where shoppers pay premiums of +9.26 percent and +8.64 percent, respectively.
The cheapest state for used car shopping is North Dakota, where prices are -7.73 percent below the national average. New Jersey (-6.02 percent) follows closely behind, while New York (-4.73 percent) takes third place.
When it comes to cities, Miami residents are getting the best deal, with used cars costing 7.97 percent less than the national average. The most expensive city, on the other hand, is Bakersfield, California (+10.05 percent).
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Via NetCredit.
