Some people say that it is easier to buy a cheap used car in Fayetteville, NC than anywhere else in the country. While this might be a slight exaggeration, it also may not be too far from the truth. Along with being home to all of the long time Fayetteville residents, it is also the home of Fort Bragg and the Pope Air Force Base, home of the 82nd Airborne Division and the US Army Special Operations Command. A lot of people never consider how being near a military compound can affect the local used car market, but it is actually fairly influential. Here is a quick look at a few reasons that it is easier to buy a cheap used car in Fayetteville, NC than most other parts of the country.
One of the biggest reasons that you can buy a cheap used car in Fayetteville, NC is because someone is always trying to get rid of their car in a hurry. This is common in all areas that are home to a military base. The reason for this is that the population is constantly in flux. There are always military personnel being transferred to other posts on other bases. When they move, most of them will sell their used car locally so that they don’t have to deal with it during the move. This is especially true for Air Force personnel because it is just as likely to move across the state as it is to another country. This means that compared to the stable population, there are more used cars than the demand for them. Couple this with the fact that most military personnel will wait until the last minute to sell their vehicles, which means getting rid of it is more important than making money off of it. On average, nearly 5% of their residents from the previous year move elsewhere on a regular basis.
It is also important to note that median household income in Fayetteville, NC tends to be a little lower than the state average whereas the overall cost of living is much lower. This means that residents tend to have a higher level of luxury income because their regular expenses are lower. Because of this, many of them often choose to either purchase a new car or lease a new car instead of buying a used one. Not only does this decrease the amount of competition for you, but it also floods the market with used cars. A high supply and low demand will always drive down prices
As you can see, there are a lot of reasons that you can buy a cheap used car in Fayetteville, NC. The best part is that the quality and reliability of these vehicles are exceptionally high. While there are a number of variables that keep the price of used cars down, the two biggest differences that make this area stand out is the population change due to Fort Bragg and the Pope Air Force Base as well as the lower average cost of living. This leads to more people purchasing new cars or getting leases instead of competing for quality used cars. This ensures that you can always find a great deal.