Is there a tiny pinpoint of light that can stir some meager hope in the heart of the compact and midsize passenger car segment? No, no there isn’t.
Even as sticker prices for these vehicles rise and as manufacturers endow them with enough technological goodies to make your mom’s car from yesterday look like a chuckwagon, retained value is dropping as fast as the segments’ market share.
Once a driving force, the segment has now become a red-headed stepchild at auction. (Read More…)
Autumn is here, leaves are falling, and dealers are marking down remaining 2016 inventory to free up room for models that won’t sound old in three months.
It’s a good time to hunt for that smoking deal on the 2016 vehicle of your dreams, but if your dreams — and bank balance — fail to reach that goal, looking back another model year could save you a lot of money.
New car looks and a low entry price can be yours if you’re willing to live with a vehicle boasting limited appeal and awful resale value. These are your best bets. (Read More…)
As our own Matthew Guy has marvelously demonstrated recently, it’s widely known a new-car purchase’s best value can often be found in the base-level trim. Rarely is a vehicle improved in proportion to the cost of additional options. Nor is the money spent on additional options or higher trim levels recovered in resale as secondhand customers are reluctant to pay more money for bells and whistles because, quite often, they’re obsolete by the time the car sells the second time around.
If we take these truths to an obvious conclusion, it can be said that the higher the trim level, the worse the resale value — and in my years of experience working for Autotrader, I can tell you that’s true. Many of the low-end pricing tools used by dealers to determine used car values often don’t even take trim into account.
Is it any wonder then that General Motors’ and Ford’s top trim levels have wretched resale values?
No, I’m not talking about “LTZ” or “Titanium.” I’m talking about Cadillac and Lincoln.
The lowly Cimarron might be be a distant, nightmare-fuel memory, but Cadillac’s current sales strategy is still being impacted by a history of not measuring up to European rivals.
The luxury automaker’s newest offerings — the CT6 sedan and XT5 crossover — have been saddled with so-so resale values by residual forecaster ALG, according to Automotive News, making it more difficult for Cadillac to offer competitive lease rates.
I have a ’03 Jetta 1.9-liter TDI. Do you know if the emission controls were tampered with on these models? If they are not part of the recall, am I to assume everything is as it should be? Resale value has dropped noticeably.
General Motors twice experienced the business end of a leather glove Wednesday, when over 20 million consumers demanded satisfaction via two lawsuits totalling $10 billion in claims over lost resale value as a result of the February 2014 ignition switch recall.
Sajeev – I’ve gotta get rid of 1 of my 4 family of cars – the family consists of a 2011 Civic LX (for the kids), 2009 Taurus X (for the wife) – and the two on the chopping block – 2006 Saab 9-5 Sport Combi (with 154,000 miles) verses 2006 Saturn Vue V6 (with 131,000 miles). I enjoy different aspect of each of these cars and I’m torn over which one should go.
My brother Tom’s Prius has been suffering neglect: a scraped door here, a tear in the bumper there, and my heavens, enough dirt to coat all the government buildings in the Washington DC metro area, where Tom lives and works, and pretty soon a two year old Prius is looking like a common beater. He has no plans to fix all this ugliness, but if there’s a logical, cost-benefit case to be made, he will definitely be swayed, as will his wife. (Read More…)
It’s a rough world out there: First new cars and especially SUVs were pretty much unsalable. A few months ago, the recession drove used car prices sky-high. Then truck sales were back with a vengeance. Now that you finally have a new shiny SUV in the driveway (yeah!) you wake up and it has lost a huge chunk of its value, overnight. Says USA Today today: “The run-up in gas prices past $3 a gallon has been running down the value of used SUVs, causing prices to plummet below levels listed in well-known buying guides.” (Read More…)
TTAC readers must be a truly un-American bunch. Americans love a deal, or so the saying goes. TTAC readers hate deals, or so it seems. TTAC readers are up in arms whenever it rains generous discounts to prop up flagging car sales. “The resale value will suffer if they do that!” is the echo from our dear readers. If they would only drive Fords, they would change their minds. (Read More…)