The Cheapest Place to Buy a Used Car

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Yesterday we mentioned the cheapest new cars to own for five years. Now we have a study from CarGurus.com with the cheapest and most expensive places to buy used.

Miami is the cheapest place to get a used car, with a citywide average 6.6 percent cheaper than the national average. Next is Cleveland (5.7 percent cheaper), followed by Rochester, New York (5.4 percent).

And it might almost make sense for Jackson, Missouri residents to buy a used car from Miami and drive it home. Their city is ranked at the bottom of the list, costing 9 percent more relative to the national average. (You probably don’t want to actually do this. If the national average price were $2,000, it’d be a $312 difference.)

The next most expensive cities are Seattle (6.4 percent higher) and Montgomery (5.8 percent).

The study is based on 3 million used car prices (2000 or newer) in the largest U.S. metropolitan areas. CarGurus uses an algorithm that accounts for differences in make, model, year, mileage, and accidents. You can see the full list here.

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