Used vehicle prices have been on a tear for over a year now, as slow new vehicle sales during the financial meltdown of 2009 have created a dearth of available used models today. Yet the sluggish economy means demand for used vehicles is high, so dealers are going to ever-increasing lengths to acquire inventory.
This ended about how we predicted. You all no doubt remember McFly, the guy that won a legit eBay auction for a slightly used Hyundai Genesis Coupe 2.0T for $16,125. Problem was that the seller – Glenn Hyundai of Lexington, KY – felt the car was worth more ($19,700) and refused to sell it to McFly. They claim they set a reserve price (even though they didn't) and wouldn't budge. End of story, kind of.
Motor Trend is lending its name and brand to a certified used car program at Planet Honda in Union, New Jersey. The program is actually "powered by" EasyCare, a company that provides a suite of contract services like maintenance and repair warranties and GAP insurance to new owners. (EasyCare was a Motor Trend "Best Buy" last year.) Formerly called APCO, EasyCare was until last year a Ford subsidiary. As a private company, it still oversees the certified used car programs for Land Rover, Volvo,