Used car sales expected to hit record levels

Sales are projected to hit 41 million this year due to a glut of expiring leases, rising interest rates and rising prices of new vehicles.
1:27 | 03/31/19

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Transcript for Used car sales expected to hit record levels
Back now with a surge in a certain type of car sale. More and more buyers finding big savings right now. So, what's fueling the buyers' market? Marci Gonzalez on getting the most for your money. Reporter: Used car sales revving up, expected to hit record levels. The preowned is just such a value that they're going in that direction. Reporter: 41 million used vehicles expected to be sold in the U.S. This year. That's 800,000 more than last year. Denise Perez driving home one of them. I decided to get a used car because I think it's more portable, reasonable. Reporter: Experts say the surge is happening because prices and interest rates are rising faster for new cars, making those used cars a steal. A new Ford F-150 costs more than $50,000. Buy one that's just three years old and you'll save more than $20,000, a savings of 40%. Another reason for the deals, lots of inventory with an unprecedented number of leased vehicles expected to be turned in this year. Those leases are now going to come back to dealerships as used cars. It's going to bring down their prices. Reporter: If you're shopping for a used car, experts recommend checking the vehicle's history using a site like carfax, and they say buying certified pre-owned from a dealership will get you the most reliable bargain. And if you have any hesitation, experts say you can ask to bring the vehicle to your own mechanic for an inspection, to make sure that deal is as good as it seems.

This transcript has been automatically generated and may not be 100% accurate.

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