A report from Edmunds put the average price of a used car in 2014 at $16,800, which is a record, and a 5.7-percent increase from 2013. It also found 1-year-old and 4-year-old cars showed gains at or near the average, while some vintages showed gains of up to 18.4 percent.
You know that sinking feeling you get in your stomach when you drive your brand-new car off the dealer lot and you know it just lost a huge chunk of value as soon as its tires hit the public roads? Yeah, well that feeling is about to sink even lower into the pit of your stomach.
Automotive remarketer Alteso is pitching a new way to conduct wholesale car auctions, which currently aren't open to the public. Their idea would give everyday customers a way to visit a dealer's site to see what's being offered at auction, then they could request the dealer buy the car on their behalf and take delivery the next day.
Few people associate Tesla Motors with the classic shady dealings of a used-car lot, but the electric-vehicle maker may be moving in that direction with its Model S. The California-based company very publicly guaranteed buying back its electric sedans from any owners who wanted to get rid of them after three years of ownership. The first of those vehicles could start rolling back in as early as spring 2016, Automotive News reports, which is why Tesla is working on a certified pre-owned vehicle-s
This has been a bad year for recalls. The US auto industry broke the record for repair campaigns months ago, and with about 25.8 million vehicles needing fixed, General Motors has gotten close to 2013's total full-year figure of 27.96-million recalled cars all on its own. You might think that used car buyers would run screaming for the hills from all these faulty models, but a recent study finds the exact opposite to be true. In fact, one of The General's vehicles actually gained value slightly,
In the wake of the 2011 tsunami that caused a meltdown at the Fukushima Daiichi nuclear power plant in Japan, there was a fear that radioactive cars and trucks could be bound for export. Within days of the tragedy, Nissan was already testing its vehicles' radiation levels (pictured above), and the rest of the Japanese auto industry followed soon after. However, three years after the natural disaster, it appears that some used models are still making it out and winding up on the roads in Central
We often mock Toyota for building boring, soulless cars, but a new study by Consumer Reports suggests that regardless of whether that's true, the company has some of the best used cars on the market. In its report on used cars from 2004-2013, the Japanese automaker had 11 vehicles among its brands on the list – more than any other automaker.
Time is money, and when it comes to the well-heeled folks who can afford to buy a Tesla Model S luxury electric sedan, that time becomes all the more expensive. That's the explanation behind an iSeeCars survey that found that a typical used Model S is priced higher than the new ones coming from the factory, Forbes says.
Acting as a middleman between potential car buyers and dealerships has become quite a lucrative business. "How lucrative," you ask? Well, a company called Cox Enterprises has just purchased a 25-percent stake in AutoTrader at a price of $1.8 billion. With the help of some simple maths, that works out to a rough value for the car-listing site of $7 billion. In most circles, that'd be called a "helluva lotta money."
When Luke Akers wanted to sell his 1996 Nissan Maxima GLE - yes, the one seen above that needs a ratchet strap to keep the front end from bursting with joy - the Florida filmmaker turned on his cameras and yelled "Quiet on set!" The result is a one-minute videographic homage to mankind's monuments, narrated with all the intensity of a BBC documentary to sell a 17-year-old sports sedan that comes "fully loaded with an engine, wheels, tires and an automatic transmission."
Shoppers can take simple steps to protect themselves against fraud
We use the Internet to research and purchase all sorts of products, but the Better Business Bureau is reminding consumers to be wary when buying a car online. Just like that time you tried online dating, appearances aren't always what they seem.
New tool generates MPG stickers similar to those on new cars
The EPA is featuring a new tool online to help sell used cars. The agency teamed up with the Energy Department to create a tool that will generate fuel economy information for used cars that mimics the ones required on all new cars.
Certified pre-owned programs are a great option if you're looking for a well-maintained, newer vehicle that has some kind of warranty, without paying full price. As it's a good system, there are a lot of automakers that now offer a CPO option. The newest and perhaps most surprising purveyor of gently used vehicles, though, is Koenigsegg.
Good news, everyone. If we can manage set aside about $37,000 over the next couple of years, a Tesla Model S, a used one, will be ours. That's one of the findings in a Bloomberg Industries study on Tesla's financing, vehicle buyback and resale programs. With the typically unconventional Tesla Motors eschewing the traditional lease program and guaranteeing to buy back used Model S vehicles at a pre-set price, the company could generate $368 million in revenue from used vehicle sales in 2016, Bloo