Posts Tagged ‘used car prices

28
Sep
11

Is Now the Time to Buy a Used Truck or SUV?

When is the right time to buy a used car, specifically a used truck or SUV? According to one article the best time is now because wholesale prices are dropping in both the used truck and SUV category. Some of the best research that supports this is research that Black Book does every week at auctions.  For the past months Black Book.com has found that within the Top 5 declining vehicle segments in the used car market are: midsize pickups and compact crossovers. Combine this information with these useful tips from Save Money on Your Next Truck or SUV and it may just be the time to buy.

A few tips when trying to save money on your next used truck or SUV purchase are:

  • Independent dealers need your money more: there is a greater pressure to deal
  • Find a smart dealer: If dealer website are updated with new pricing daily then you’ve found one with smart business practices
  • Cash is king
  • Do your homework on the Options
  • Be willing to settle
  • Avoid Certified Pre-Owned

To read the full article as well as complete list from Save Money on Your Next Truck or SUV, please click here.

22
Jul
11

Used Car Prices Still Going Strong

With the rise in gas prices and the effects of the tsunami and earthquake that hit Japan, used car prices for small vehicles, particularly Japanese made cars, have been on the rise. As the summer is coming closer to an end looks like these used car prices may have finally peaked although prices are still 10-30% higher than at the start of the year according to NADA Used Car Guide. For example, a Chevy Aveo that was worth $5,275 in January could still be worth 20% more in August, and for Japanese made vehicles such as the Toyota Prius the increase could be more. Senior analyst at NADA Used Car Guides says that although prices are still up, they should begin to decline slightly in the fall.

To read full article in the Wall Street Journal, please click here.

24
May
11

Trade-in Values for Used Cars Rising

More good news for those looking to trade-in their used vehicle; trade-in values are on the rise. According to NADA Used Car Guide they anticipate trade-in values from May to June 2011 on many small popular cars to increase in trade-in value by over 10% and some even as high as 17%. This increase is expected because of the combination of: shortage of used cars in the market as a result of the devastation in Japan and the increased consumer demand for small cars. This increase isn’t just expected from May to June but has been seen in this first half of 2011.

To read the full article in F&I Magazine, please click here.

17
May
11

Auction prices up but retail demand not there yet

As more time passes we see more and more of the effects of the expected decline in new car inventories. At auctions, prices for used vehicles rise as more dealers attempt to prepare for a shortage of new vehicles in the market. The anticipated shortage is of course a result of the devastating earthquake and tsunami that hit Japan in March, that has had a major effect on vehicle production. So far, retail demand for all the used vehicles that have been purchased at the auctions, hasn’t caught up. The dealerships anticipate demand months out while consumers won’t see this as an issue for a few months to come. This combo may have used vehicle auction prices dropping and causing a used car bubble. Although there is fear and anticipation of a used-car bubble, wholesale used vehicle price continues to rise. For the month of June, NADA Used Car Guide raised its suggested price of small vehicles by about 10% from May prices.

To read full article on Automotive News, please click here.