By MICHAEL CANTU
Edmunds

The past few years have been rough for used-vehicle buyers due to higher prices, less inventory and rising interest rates. Compared to what people normally expect to pay from buying used, it's fair to say the market has been discouraging. But there seems to be at least a dim light at the end of the tunnel according to Edmunds' latest Used Vehicle Report.

COMPARE PRICES TO AVOID OVERPAYING
Finding out if you're getting a good price on a used car isn't as hard as you
think. There are multiple online sites like Edmunds that compare the price of
the vehicle you are shopping for with others that are for sale in your area. By
simply searching for the make and model you want, you'll know if you are paying
above, below or at the market value of the vehicle.

EXPAND YOUR SEARCH
You might find a better deal if you broaden your search beyond local dealerships.
Instead of driving to local dealerships, look at online sites first to know
what dealerships have in stock before you go there. You can adjust the search
parameters to include nearby cities and counties that might have better deals.

CONSIDER OTHER TYPES OF VEHICLES
If there is a particular brand, age and mileage you typically aim for when
buying a used vehicle, you might want to reconsider your usual approach. With
higher prices and interest rates, opting for a higher-mileage or older model
will help get you to the monthly payment you want. However, if you decide to do
so, make sure to get a vehicle history report to ensure it has a clean title and
has had regular maintenance visits. A prepurchase inspection from a mechanic can
also help spot potential issues.

If you prefer a near-new vehicle, then consider a different type of vehicle or brand to save money. Trucks and SUVs are popular and often demand a higher price than sedans or subcompact SUVs. If you don't need a truck or large SUV, you can save a lot of money by getting something smaller.

GET PREAPPROVED FOR AN AUTO LOAN
Getting the lowest interest rate possible will lower your monthly payments.