The immediate impact of Hurricane Sandy was devastating, and the storm's ripple effects will continue to be felt in the weeks and months ahead as communities work to recover. One side effect becoming apparent is Sandy's influence on the used car market.

According to the Detroit Free Press
, the destruction of some 250,000 vehicles has led to a shortage that could affect late-model used-vehicle prices nationwide. The National Auto Dealers Association estimates that prices could increase 0.5% to 1.5%. That may not seem like much ($50-$175 per vehicle), but suggests that in the short term, prices could jump $700 to $1,000.

So how could a dealer in Iowa be affected by a reduction in supply in New Jersey? Many used dealers work with the wholesale auction houses, where cars may travel many miles to meet demand. That means the absence of a quarter-million vehicles effects everyone.

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    • 1 Second Ago
      • 2 Years Ago
      A certified used car on a dealership lot costs about two grand less than a its new counterpart. If the price of used car went up any higher it would be new. The consumers (NOT hurricanes) are the ones that determine the price of these things and let the dealerships get away with murder.
      • 2 Years Ago
      For the next year or two, be carefull buying a used car. They might be flood cars with washed titles
        • 2 Years Ago
        This subject has been well publicized. The problem is that so much of the american public is stupid or noncaring. How many complaints are we going hear in the next year or so about people who bought a car,usually at a good price, and now whine about the fact that they didn't know.
      King Timothy
      • 2 Years Ago
      this is where stricter consumer protection laws would help out.
      • 2 Years Ago
      bottom line is a lot of these flooded cars will make it to auction in the near future' and a lot of people who dont know what to look for are going to buy them' and are going to be stuck with never ending expensive repairs' look for rust in the engine compartment or light smell of mold from the Interior' or if the interior has an unusually strong smell of cleaning products they may be trying to cover something.
      • 2 Years Ago
      its all mixed situations where people want to buy lower in pricewise and other hand the market keep resing the prices. It doesn't match. This is where economy strugles.
      • 2 Years Ago
      Welcome to real world of used car pricing.
      • 2 Years Ago
      It's sad how people take advantage of a disaster. Whether its price gouging on supplies, hotel rooms, food and whatever else these unfortunate people need.
        • 2 Years Ago
        It's less "taking advantage" and more there is now a reduction of supply which will drive up demand (= increased prices). It's simple economics.
        • 2 Years Ago
        welcome to capitalism
        • 2 Years Ago
        Yeah, because charging me(in Colorado) more for a car as a result of "sandy" is taking advantage...right...simple economics my friend ....more demand and lower supply= higher prices...
      • 2 Years Ago
      I'm sure Government Motors will not let that happen. They will be so appreciative of what the taxpayers have done for GM that they will help us all!! LOL
      • 2 Years Ago
      Sounds like another excuse to raise the price again.....This is the first time I have ever heard of a storm causing the price of a car to go up..... It's like in the middle.....if someone farts wrong the price of gas goes up.....
        • 2 Years Ago
        In a free market - the product is worth what the consumer is willing to pay. If consumers do not buy - the prices will be lowered. Stop buying gas and the price will drop, but at $2.97 a gallon it is lower than it has been in years.
      RR Coor J
      • 2 Years Ago
      I had the exact same reaction as the guy in the background. Poor Ferrari.
      Darlene Bramhall
      • 2 Years Ago
      Its really ashame that people gouges prices off of a tragity. That is so cruel and mean. Alot of people lost their cars. Lot of people lost alot of money. So they raise prices on the thing alot of people needs. Id love to hear of the bad **** that happends to these people that does this crap to people in need. Why does people has to be so MEAN?
      Jo Ann
      • 2 Years Ago
      Thats right, kick em in theteeth, they don't need em. There all ready down n out, why not kick em in the teeth, take all they have left, it wont hurt a thing. I just hope you greedy, low life scum are'nt in their shoes someday.
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