We just bought a 4 year old used BMW , no deals out there we shopped everywhere, got maybe 500 off sticker price but many dealers don't negotiate anymore. Got a 6.8% interest rate for 60 months from truist.

When we looked for our teen it was the same. At best 5-6k off for 2-3 year old car. We also ended up buying new.

I wouldn’t own a car for years and then upgrade. Just buy something now that you can live with long term. It’s for commuting it doesn’t need to be fancy. My high income DH drove a base model Hyundai Sonata for 10 years.

If you are interested in an EV I bought a two year old Mustang Mach E. Two wheel drive, small battery for $24k. Great car. Very little maintenance. Insurance is reasonable and less than Tesla. It was eligible for the $4k used EV tax credit if your household income is low enough.

When I was car shopping 2 years ago, I wanted to buy a lightly used Outback but we ended up buying new because 2 year old cars were selling for only $5K less than new. What is the used car market like now? What should we be expecting in terms of interest rates?

We now need to buy a sedan for commuting. The plan is to keep it for 2-4 years before upgrading, so we'd like to get one that will last that long without needing expensive maintenance. Any recommendations? We're thinking a sedan that's about 5 years old could be a good idea.