Many people looking to buy a vehicle could benefit from the used market, one expert has noted.
Lori Lothringer, a professor of financial planning at Omaha's Metropolitan Community College, said that for those who wish to save money for the future the answer is opting for used rather than new.
She noted it was foolish for those with car finance to adopt a "keeping up with Joneses" attitude as this can be damaging in the long-term and added that there are a great range of used models out there for those who are prepared to look.
Ms Lothringer gives the example of a family shopping for a BMW 3 Series four-door, stating that the savings to be made on a 2005 model - as opposed to a new car - could significantly aid that family in the future.
BMW will be busy tempting those who may recently have secured a car loan this summer, as the company has announced that it will be present at this year's Motorexpo event, according to Motor Trader.
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