Is now a good time to buy used vehicles?

The latest report submitted by the Chilean Automotive Chamber of Commerce (Cavem) noted an increase of 6.2% in the transaction of used vehicles , reaching 78,999 units in October. This month was the second to record blue figures, since out of the 10 months recorded, only July recorded an increase but of 3.1%. Now is a good time to buy a used car?

Everything indicates yes, as indicated by Cavem and certain digital platforms for the sale of used vehicles. In general, this is due to different factors, the main one being that used cars are cheaper than in 2022, new vehicles are very expensive, and people look favorably on used purchases.

Martin Bresciani, president of Cavem, specifies that “During the month of October 2023, we noted a slight rebound in the sale of used vehicles. This is no coincidence and is mainly due to the fact that since January this year, car manufacturers have introduced attractive offers for customers at their points of sale. In the world of new vehicles it is more difficult because their behavior is mainly governed by the dollar, and unfortunately it has been very high. We hope that customers will continue to use used vehicles as an opportunity to bring a vehicle to their family or the company where they work.

This last point mentioned by Bresciani coincides with the reality of the used vehicle sector, since people are more inclined to this type of purchase. Concretely in the different segments, three of the four available recorded an increase. Only passenger cars recorded a drop of 2.9%, reaching 35,213 units. Despite this drop, it remains the public’s favorite, since the closest segment was that of SUVs with 22,215 (increase of 12.7%), followed by trucks with 15,350 units (+ 10%) and finally utility vehicles with 6,221 (+6.2). %).

Of course, one point they should work on is the distribution by region, since the majority is concentrated in the Metropolis with a participation of 58.3% with 46,090 units, followed by Valparaíso with 6.1% (4,857 units) and the Bíobío closes the first place. three with 5.1% (4,017 units).

Now, on the side of used vehicle sales platforms, Diego Moreno, marketing manager at Link.cl confirmed that “we are in a good moment” as a market to dare to buy this type of car.

“In fact, we believe that it is a good time to buy a used vehicle, since their prices have decreased, gradually approaching those they were before the pandemic. Today, we see that there are very attractive offers on used vehicles, while new vehicles continue to have high prices. Another very important factor that has helped promote the buying/selling of used vehicles is that there are now very safe options to do so. An example of this is the service we offer through the Link.cl marketplace, in which the buyer acquires a guaranteed vehicle, because it has been previously examined by our experts, while the seller ensures that he will receive his payment reliably, since we act as custodian of the money until the transfer is completed.

What Diego Moreno highlighted coincides with the opinion of Andrés Cooper, general director and founding partner of Chileautos, who detailed what this loss was. “The sale of used cars has been reactivated due to the variation in their prices. In October, the average price of a used car was $12,609,828, representing a decrease of 12.8% compared to October 2022. This downward trend is expected to continue in the coming months, and responds to price normalization. “After the effects of the pandemic, it is for this reason that we think it is the ideal time to buy a used vehicle.

According to data provided by Chileautos, we see that the category that has decreased its prices the most is the van segment, which today has an average price of $15,491,419, which represents a drop of 16% compared to the same month of the previous one. year. Next comes the SUV category with a drop of 13.6%. On the other hand, the category that decreased the least is the sedan segment, which presents a variation of -9.5%.

Below you will find the average prices of used vehicles, according to data provided by Chileautos.

With these factors, it is expected that this type of vehicles will increase and it is a reality that their prices have fallen.

Regardless, if you are considering buying a used car, we recommend doing so at accredited sites and dealerships.