Any competent financial advisor will tell you that, almost invariably, buying a brand new car is a bad investment. With very few exceptions, as soon as you drive a new car off the lot, its value drops significantly. Hopefully, the now publicly traded stock of Tesla Motors will fare better than the price of a used Tesla Roadster.
Lifecycle CO2 analysis. Higher miles per gallon ratings for new vehicles. End-of-life recycling. These things will matter to fewer and fewer people because, AutoMD has some interesting numbers out this week about how long people are keeping their vehicles these days. An online survey of car owners conducted in December and January found that about 77 percent plan on driving their current vehicles a total of 50,000 miles more than their previous vehicles. Considering the annual average for U.S. d
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.
New car sales have been in a downward spiral for over a year now, and the big beneficiaries appear to be used cars (and repair shops). A study by Manheim Consulting shows that the company's Used Vehicle Value Index has risen to a record high of 118.5 in the month of September, up 1.8% versus August. That's the ninth straight increase this year, as Manheim's index has steamrolled northward by 6.9% over the past 12 months.
The cynic in you might think that a rise in the price of used vehicles, just as new car sales are cratering worse than anyone can remember, is a not-so-transparent ploy to overcharge buyers. It turns out to be more a case of supply versus demand. Wholesale used car prices are bumping up as a result of sagging new car sales, according to auto auction company Manheim. Two-thirds of new car sales have a trade-in attached, which creates a supply stream of pre-owned vehicles to recycle onto dealer lo
If vehicles could be sainted, stained-glass artists all over the U.S. would be busy figuring out the best colors for the Toyota Prius to shine in. Brand new examples of the motorized mollusk that everyone can't wait to buy spend just five days on dealer lots. Last year's model lasts just fifteen days more.
var digg_url = 'http://digg.com/autos/Free_Gas_or_a_Hand_Gun_with_New_Car_Sold_80_Choose_Gun'; In a move certain to generate both controversy and publicity, a new and used car dealer in Butler, Missouri, is offering his customers a choice between two sales incentives with their vehicle purchase: $250 in gasoline or a free semi-automatic handgun.
How much per month are you willing to pay for your car? Rising gas prices and the worsening economy have many people reconsidering their automobile purchases. Think of it this way: if you had $400 budgeted per month for your car payment and gasoline, the more you spend to fill up, the less you have to pay for your car. These types of issues have been causing some car buyers who would normally purchase a new car to shop the used market instead. According to a recent survey by Wachovia, dealership
Although other sources state that Britons are buying smaller and more efficient cars during this year, used car hypermarket chain Carcraft announced that they sold more used dirtier cars in 2007 than ever, despite the higher vehicle duty (tax) and the higher cost of gasoline.
var digg_url = 'http://digg.com/business_finance/Chrysler_calling_2006_models_used_to_unload_them'; When even deep discounts aren't getting the job done, sometimes you've got to bend the rules. Normally, a Chrysler dealer must use a car as a loaner for three months before designating it a used car. Still wondering what to do with a "glut" of 2006 vehicles in June of 2007, Chrysler has told dealers if they use a car as a loaner for just one day, they can consider it a used car and move it off
Many used car buyers are completely unaware that their airbags might not deploy in the event of an accident. There are a few reasons for this, but the most prevalent is a scam in which a car that's experienced a previous collision has had its deployed airbag improperly replaced, sometimes with stolen airbag units from other cars and sometimes with nothing more than stuff like packing peanuts or whatever else was lying around the shop.
For those of you driving a Ford Festiva, which managed a very respectable 35 mpg, don't get your hopes up of getting a big fat check when selling your car. But those of you that bought a Prius or Civic hybrid, you should be happy to know that your resale value is holding very strong. Toyota Priuses lose almost no value in the first year or two of ownership, even with fairly high mileage. The reason for the high prices is a combination of low supply of used cars and the high price of gas. M