One- to three-year-old-vehicles are pouring back onto dealer lots, but the predicted drop in used vehicle prices hasn’t happened yet.
Consumer choices (meaning: trucks, trucks, trucks) and the high value of returning vehicles are keeping used prices near record levels, but analysts still expect a drop later this year, Automotive News reports. (Read More…)
The record-setting surge of new vehicle sales as America climbed out of the recession sparked a whole new kind of automotive competition.
A surge in off-lease vehicles returning to dealer lots means the certified pre-owned (CPO) market — once an unsexy afterthought — is now a battleground, and Kia Motors wants everyone to know how well it’s doing. (Read More…)
There’s been a slow, yet steady change in the automotive marketplace over the last eight years, and you, the consumer, have been the lobster sitting in the pot as the change has occurred. The market has gotten significantly worse for car buyers. The number of franchise and independent dealers has been reduced by almost half. And yet, those surviving dealers have had an unprecedented run of year-over-year growth since 2008.
But as that growth has slowed in 2016, car buyers find themselves paying more money for used cars than ever before. We know that the typical American household can’t afford the typical new car sold in America, but we may soon be approaching a day when that same household can’t afford the typical used car, either. In fact, according to NADA Data, the average used car transaction price in 2016 will crest $20,000 for the first time in history, and will be 59.1 percent of the average new car transaction price of $33,903.
What does all of this mean to you? That buying used may not be the smartest financial choice you can make. In fact, it might not be very smart at all.
Electrified transportation isn’t catching fire in the new vehicle market, but sales are positively scorching at used car lots.
The top three fastest-selling one- to three-year-old vehicles in the U.S. today aren’t pickups or SUVs, but a low-volume plug-in hybrid and two EVs, according to automotive data and research company iSeeCars.com. (Read More…)
Not all used cars are created equal.
Used cars have become somewhat commoditized in the last five years, thanks to the rise of pricing tools and third-party advertisers, but there’s still some truth behind the old school notion that every used car is a unicorn.
While most car dealers mean that each car is unique in its mileage, color, trim level, and condition, there’s one hugely important factor that most dealers would prefer you ignore: how they obtained the car.
Each car on the lot has its own story, and knowing those stories might help you figure out if you want a particular car to become part of your life story.
One supermarket’s loss was Ehren Thompson’s gain.
The Sydney, Australia man was able to use a 77-pound wheel of Parmigiano Reggiano cheese he found at a local grocery store to get himself into a used Peugeot hatchback, according to BuzzFeed News. (Read More…)
TTAC commenter Piston Slap Yo Mamma has given us a great gift.
While perusing used cars on his local Craigslist site, he noticed a trend occurring in the vehicle images. Fingers. Lots of them. Obscuring license plates. Possibly, revealing more about the driver than the plate itself.
So numerous were these crooked appendages, often topped with purple or naturally yellow nails, that he felt the need to share them. So, this Tumblr page was born. (Read More…)
Craigslist can be a great place to waste a few hours browsing oddities or finding your next money pit of a project car. I have a few projects but one of my more nostalgic goals is to find a Yugo to add to my collection.
Most examples of the Yugo that pop up online are usually in a non-running state or resemble Swiss cheese, but the crew over at BangShift found the oddest one of them all.
Thank you for taking the time to read and answer this email, it’s greatly appreciated.
I have a budget of $6k and would like to buy a used car (automatic transmission). I really like the Scion tC models from ’06-’08 (I’m a fan of its smooth curves). Is it worth spending $6k on a car that has ~100k miles? I live in Silicon Valley and most the Scions I’ve seen for sale are in Sacramento or LA; I wouldn’t mind traveling a bit for the right car. By that measure, I love to drive and need a car that can take me all along the West coast as well as the weekly commute and won’t break the bank when it comes to repairs. Am I asking too much of a used vehicle? My 2001 civic made it through 235k miles, and while I prefer to stick to the Honda or Toyota family, am I missing out on a reliable American vehicle?
Again, thank you for the advice.
Back when I used to judge high school solo and ensemble music competitions for money in college, I seriously considered buying a rubber stamp that said “More dynamics.” I mean, every single kid needed to use more dynamic contrast (loud and soft playing), so I literally wrote “More dynamics” on every single judge’s sheet. The stamp would have been a YUUUUGE time saver. After about three months of doing the Ask Bark column, I’ve decided to buy two rubber stamps—one that says “Pontiac Vibe” and another that says “Scion tC.”
A wave of older vehicles is poised to flood Toyota dealer lots, but the automaker is confident it has just the plan to deal with it — pre-owned leasing.
Toyota is certain that adding a leasing option to its certified pre-owned inventory would boost CPO sales and clear lots in the face of a growing compliment of three-year-old product, Automotive News reports.
The plan has already been quietly rolled out in the U.S. Northeast, but a national strategy should be in place by the end of April, dependent on training in each dealer region. The option would allow a reduced commitment for buyers who don’t want to finance the full cost of a pre-owned vehicle. (Read More…)