Used Car Prices Have Increased 30 Percent
We’ve been covering the staggering increase of automobile pricing all year, starting with the second-hand surge created by rental industries sucking up used models to replace all the vehicles they dumped during the pandemic. A year of suppressed demand and prolonged restrictions absolutely crippled supply chains and placed the automotive sector in an extremely difficult position going into 2021. We wish we could say things were improving but the most heartening news we’ve come across was the possibility that select manufacturers might soon have a line on semiconductor chips — hopefully encouraging new vehicle production.
But the used market is still heading into uncharted waters. According to data collected by CarGurus, the typical price for a used automobile increased by about 30 percent against this time last year. Though more worrying is how much of that spike is consolidated within the last 90 days.
These Depreciation Bin Specials Are Your Best Bet for Bargain, Off-Lease Bliss
Late-model used cars have long been the clever shopper’s new vehicle alternative. While hubris keeps some of us from dirtying our driveways with anything that isn’t fresh from the factory, bargain hunters know purchasing an off-lease vehicle is a decent way to save a trunkload of cash and obtain something that can still be considered modern. It also provides cash-strapped individuals with the ability to buy something normally above their means.
With leasing growing in popularity and off-lease vehicles pouring into the market like pigeons on a slice of bread, shoppers can find late-model, low-mileage cars for roughly half the price of a new one. Often, still under warranty. Some deals are better than others, and a recent analysis of 2014 model-year vehicles highlights several models with above-average depreciation rates buyers can easily take advantage of.
What Car Did I Buy? Droptop Desires Got The Better Of Me, It's Time To Supplement The Family Minivan
Intending to ask your advice before I actually made a purchase, I was left alone with no family to entertain me last Friday night and, well, something happened. To go along with our long-term 2015 Honda Odyssey EX, I exchanged a large sum of cash for a new vehicle.
Tell people what you’re going to name your baby, and they will tell you what they really think. Tell people what you named your baby, and they’re more likely to say, “Oh, how nice,” even if you named him Dwayne.
Similarly, tell people what car you’re planning to buy, and they’ll be forthright with their opinions. Tell them what you’ve already bought, and they’ll be more likely to say, “Oh, how nice,” even if you bought a Outlander.
So we’re going back in time to last Thursday. The automotive universe is littered with options. My choices are limitless. Major life changes have presented our family with new opportunities, but also new challenges. Regardless, it’s time to double the size of our fleet.
2004 Toyota Camry LE V6 Update: Make It 13 Winters and 347,000 Miles
Is this the best car in the world?
Not necessarily this car, but the 2002-2006 XV30-generation Toyota Camry in general. Is this Camry better than all the rest?
It doesn’t handle like a modern Mazda 6, doesn’t stop as well as a modern F-150, doesn’t have the perceived interior quality or features of a modern Honda Fit, and has suffered greatly from the effects of alloy wheel corrosion over the last winter.
But the 2004 Toyota Camry LE V6 we told you about last fall just made its way through another harsh, Prince Edward Island winter. Another 7,000 miles were smeared across its odometer. One trip was taken all the way from Prince Edward Island to Toronto; another from Prince Edward Island to Hamilton, Ontario, and another from Prince Edward Island to Mont Tremblant, Quebec.
Credit a single oil change.
2004 Toyota Camry LE V6: 340,000-Mile Used Car Review
Having endured 12 hard Canadian winters on an island covered in red dirt, this 2004 Toyota Camry is about to enter its thirteenth; its tenth since my father-in-law took ownership.
That red dirt is truly key to the story, because its color comes from Prince Edward Island’s high iron oxide content. Yes, that iron oxide. Rust.
But the Camry, undercoated three times since 2007, is an almost rust-free wonder with nearly 340,000 miles under its belt.
Kia Brags About Its Used Vehicles, Because Off-Lease Sales Are Hot Stuff
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.
Toyota to Offer Pre-Owned Leasing; Sensible Dreamers Rejoice
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.