I was doing some legwork on a Reader’s Ride sort of thing that I’m hoping I’ll get to do with a Porsche 968. Time hasn’t treated the four cylinder front engined Porsches quite as well as it has the 928, and that, too, is kind of dismissed by Dr. P’s acolytes of the rear engined faith. You can buy a 968, the ultimate development of the 944 and a very nicely performing, exceptionally handling car, for less than a new Yaris or Versa will cost you and you can get a decent runner 944 for just a few thousand dollars. As for the 924, like the 914, it’s considered eine halbe Porsche. Read More >
Category: Used Cars
Buy-here, pay-here lots, traditionally the place to find a vehicle with little, bad or no credit, are facing some stiff competition as of late from new-car dealers offering cheap financing.
Last year, the Cuban government finally made it legal for its citizens to freely buy new vehicles for the first time since Fidel Castro sent Fulgencio Batista packing in 1959. The people rejoiced right up until they saw the prices on the showroom floor this January, family sedans marked up 400 percent or above as if they were Ferraris and Bugattis.
Currently, around 2.13 million cars will come off-lease by the end of 2014, up from 1.7 million last year. By 2016 and beyond, however, over 3 million vehicles annually will turn up on many a CPO and used car lot, replacing a long drought with an El Niño-esque flooding of the U.S. used car market.
As more consumers trade-in their old vehicles for a newer model, a growing number of consumers are owing more on their trade-in than their vehicle’s actual worth.
New-vehicle sales are on the rise due not only to demand originally held back by the Great Recession, but by consumers coming off of their leases for their next latest and greatest.
Several Toyota models dominated this year’s Consumer Reports list of used car recommendations, with 11 out of 28 overall belonging to the automaker’s Scion, Lexus and namesake brands.
A combination of income tax refunds issued in January and February with accessible financing have boosted used-car prices overall in the first two months of 2014.
The best part about working at TTAC has very little to do with the constant press car access, the barely-disguised graft known as “new car launches” or having various varieties of invective spewed at you by tens of readers each day. No, the real fringe benefit is that you are paid to spend a fair amount of your waking hours reading and researching about cars, and that includes browsing the online classifieds for strange and obscure cars.
Younger buyers and subprime consumers are expected to drive auto sales in 2014, though some banks are already stepping off the accelerator with auto loans due to heavier competition and a desire to protect their margins.