The trend of rising used car values is reversing. USA Today reported that overall used-car prices fell 4.5% on average in April.
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
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.
Need further proof that interest in hybrid and diesel vehicles is directly linked to the average price for a gallon of gasoline? According to CarMax, the largest retailer of used cars in the States, searches for hybrid vehicles on its website are up four percent in June over May while diesel are even hotter with a seven-percent increase. Further, the used car retailer reports that visits to its Fuel Economy section are up by 17 percent.
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.
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