Worcester Ranks as 9th Most Affordable City in U.S. for Used Cars
Wednesday, August 31, 2016
Worcester is ranked 10th behind Boston and Providence at 8 and 9 respectively, and ranked ahead of Tampa, Florida and Chicago, Illinois at 11 and 12 respectively.
Miami, Florida is ranked as the most affordable city to buy a used car, while Fresno, California is the most expensive.
“While staying local makes sense for most car shoppers, they also may not be aware that car prices do vary across the country. 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,” said Lisa Rosenberg, data analyst at CarGurus.
Overall, the analysis showed a strong concentration of higher used car prices in cities on the West Coast.
CarGurus applied mathematical models to analyze and compare millions of car listings and help car shoppers find great deals in their local market. For the analysis, CarGurus compared Instant Market Value (IMV) data on over 5 million used cars listed for sale in the largest metro areas in the U.S. to determine how prices stack up in different cities.
Analysts compared prices on used cars (model years 2001-2016) in each metro area to the nationwide average for comparable vehicles, then averaged the price differences for the individual cities studied to determine an overall percentage difference for each city versus the national average.
Metro areas are defined as the area 50 miles around the city center.
Related Slideshow: The 10 Most Stolen Cars in Massachusetts
- Worcester Ranks 4th Best City to Start a Family
- NEW: Worcester Ranks #319 on Safest Cities List, Beats Boston
- NEW: Worcester Ranks #1 in Traffic Study
- Worcester Ranks #1 Nationally for Health Care Access
- Worcester Ranks in Top 20 Strongest Metro Areas
- See Where Worcester Ranks for Snowfall in US
- See How Worcester Ranks for Singles
- Worcester Ranks at Bottom of National List for Summer Travel Destination
- See How Worcester Ranks for 1st Time Home Buyers
- Worcester Ranks Poorly for Staycations
- Worcester Ranks Near the Bottom for Soccer Fans
- Worcester Ranks as One of Worst Cities for Hispanic Entrepreneurs in U.S.
- Worcester Ranks Poorly for Single Moms
- Worcester Ranks 18th in US for Sweet Tooths
- Worcester Ranks High on Places with the Highest Cost of Living
- Worcester Ranks as One of Worst Real Estate Markets in U.S.