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It turns out local drivers in the market for a used car are perfectly positioned to save some money on the purchase.
Car-shopping site CarGurus recently ranked the most affordable and most expensive cities for buying used cars. Three major New England cities – Boston, Providence, Rhode Island, and Worcester – ranked among the top 10 cities where consumers are likely to get a break on a used car.
In Boston, consumers can find used cars that cost about 4 percent less than the national average. Used cars in Providence and Worcester are about 3 percent cheaper than average. The three cities ranked No. 8, No. 9 and No. 10 in the country, respectively.
Car-shoppers in Springfield, Massachusetts can also find a used car priced a little less than 3 percent below average. Springfield ranked No. 17 out of 98 metros. (Disclosure: CarGurus is a Boston.com technology partner, powering the Cars section search functionality.)
CarGurus could not pinpoint a single factor on why used vehicles in these metros are cheaper than average, but it could be related to the number of dealerships nearby, the region’s population density, or the average number of cars per dealership, among other potential factors.
For consumers, this means it could pay to consider shopping in a nearby city to save some money on a used vehicle according to Lisa Rosenberg, data analyst at CarGurus.
“While staying local makes sense for most car shoppers, they also may not be aware that car prices do vary across the country,” said Rosenberg in a statement.
“Expanding a car search to a nearby city can sometimes yield significant savings, and for those truly driven by price, it might be worth it.”
CarGurus looked at 5 million used car listings in the nation’s 98 largest metro areas. The company then compared prices on used cars (model years 2001 to 2016) in each area to determine the nationwide average for comparable vehicles and averaged the price differences for individual cities.
According to CarGurus’ analysis, Miami is the cheapest city to buy a used car. Consumers in Miami can find used vehicles that are priced nearly 10 percent below the national average.
At the other end of equation, Fresno, California is the most expensive city to buy a used car with prices about 12 percent higher than average.