Used car prices are surging. Here’s why you should buy now
1 year, 8 months ago

Used car prices are surging. Here’s why you should buy now

Associated Press  

Well, it was nice while it lasted. Squeezed by higher prices for gasoline, groceries and utilities, many of Catalano’s customers can’t afford either new or late-model used vehicles. “There weren’t that many used vehicles, and if there were used vehicles, they were quite expensive.” Last month, she finally found a 2003 Ford Ranger on Catalano’s website that she liked and could afford. At the start of this year, Chesbrough said, he thought higher loan rates would chase away buyers from both the new and used markets. Instead, robust demand from affluent buyers for pricey late-model used vehicles has strengthened sales in the United States.

Supply Vehicles Used Car Average Vehicle Buyers Buy Used Vehicles Fewer Catalano New Vehicles Demand Prices Car Price Chesbrough  buyers  fewer  used  average  vehicle  heres  buy  demand  prices  supply  car  price  vehicles  surging

History of this topic

Lower auto prices are giving Americans a break after years of inflation
9 months, 3 weeks ago

Lower auto prices are giving Americans a break after years of inflation

Associated Press  

DETROIT — Price increases for cars and trucks in the United States, which helped fuel inflation for nearly three years, are slowing and in some cases falling, helping cool overall inflation and giving frustrated Americans more hope of finding an affordable vehicle. In January, automaker discounts on new vehicles, including rebates and low-interest financing, averaged $1,469 per vehicle — five …

Lower auto prices are finally giving Americans a break after years of inflationary increases
9 months, 3 weeks ago

Lower auto prices are finally giving Americans a break after years of inflationary increases

LA Times  

Automobile prices, which had been fueling inflation in the U.S., are starting to drop, helping to slow overall consumer price increases and giving buyers hope of getting a deal. Even with prices edging down, Ivan Drury, director of insights at Edmunds, doesn’t foresee sales of new vehicles rising dramatically this year. Unlike with new vehicles, there’s still a limited supply …

Looking to buy a used EV? Here's why they're so expensive — and when they'll be more affordable
1 year, 4 months ago

Looking to buy a used EV? Here's why they're so expensive — and when they'll be more affordable

ABC  

Early last year, as demand for electric vehicles shot up and supply to Australia remained tight, second-hand Teslas were selling for head-turning prices. Key points: Used EV prices have fallen about 15 per cent from a 2022 peak They're tipped to fall sharply in about two years as leased fleet EVs come up for resale After 2030, the rise of …

The used cars that have fallen and risen the most in value
1 year, 7 months ago

The used cars that have fallen and risen the most in value

Daily Mail  

The value of some used SUVs and city cars has jumped by almost 30 per cent over the last two years thanks to a combination of high demand and low stock. Average values rose by 30 per cent over the last two years, having increased by 14 per cent between 2021 and 2022 and by another 16 per cent over …

Why car prices are still so high — and why they are unlikely to fall anytime soon
1 year, 9 months ago

Why car prices are still so high — and why they are unlikely to fall anytime soon

NPR  

Why car prices are still so high — and why they are unlikely to fall anytime soon Enlarge this image toggle caption Justin Sullivan/Getty Images Justin Sullivan/Getty Images It has been nearly three years since auto plants around the world started to shut down because of the pandemic. Enlarge this image toggle caption Mario Tama/Getty Images Mario Tama/Getty Images Supply …

Auto prices finally begin to creep down from inflated highs
2 years, 1 month ago

Auto prices finally begin to creep down from inflated highs

Associated Press  

DETROIT — All summer long, Aleen Hudson kept looking for a new minivan or SUV for her growing passenger shuttle service. Hudson made her purchase just as the prices of both new and used vehicles have been inching down from their eye-watering record highs and more vehicles are gradually becoming available at dealerships. With higher prices and loan rates combining …

Record used car prices: 10 best-sellers are up to 53% more expensive
2 years, 10 months ago

Record used car prices: 10 best-sellers are up to 53% more expensive

Daily Mail  

Britons face a cost of living crisis and used car prices escalating to unprecedented highs is yet another unwelcome financial burden on licence-holders. BMW 3 Series - 39% rise Sales in 2021: 175,190 Avg price Feb 21: £14,687 Avg price Feb 22: £20,369 £ increase: £5,681 The price of a used BMW 3 Series has increased by almost two fifths …

Best-selling used cars revealed as sales jumped 11.5% in 2021
2 years, 10 months ago

Best-selling used cars revealed as sales jumped 11.5% in 2021

Daily Mail  

Ford's Fiesta may have been knocked off its perch as Britain's best selling new car last year but it claimed the crown of most popular used motor, figures show. The Fiesta was the biggest seller, ahead of Vauxhall's Corsa and the Ford Focus in the used car market, the Society of Motor Manufacturers and Traders said, as it revealed more …

Why buying a car is still such a miserable experience right now
2 years, 10 months ago

Why buying a car is still such a miserable experience right now

NPR  

Why buying a car is still such a miserable experience right now Enlarge this image toggle caption Matt Rourke/AP Matt Rourke/AP Thinking of buying a car? "The people who are looking for need-based transportation as opposed to want-base transportation — the folks who are looking for the traditional $10,000 or $12,000 car that has, you know, 95,000 or 105,000 miles …

Here’s why car prices are so high, and why that matters
3 years, 5 months ago

Here’s why car prices are so high, and why that matters

CNN  

New York CNN Business — Maybe America’s key inflation metric, the Consumer Price Index, should be redubbed the Car Price Index. Used car prices are particularly hard hit because rental car companies, facing a near halt in demand last year, sold off about a third of their fleets to raise enough cash to survive the pandemic. That rush of sales …

Here’s why car prices have gotten so high, so fast. And why they’ll keep climbing
3 years, 6 months ago

Here’s why car prices have gotten so high, so fast. And why they’ll keep climbing

CNN  

New York CNN Business — Car dealer lots have only a fraction of the vehicles — both new and used — that they typically have. Michael Nagle/Xinhua/Getty Images “That puts wholesale used prices at the highest level they’ve ever been,” said David Paris of JD Power. “The typically buy 2 million vehicles a year, and that’s how many cars they …

As chip shortage goes on, cars are scarce and prices are up
3 years, 7 months ago

As chip shortage goes on, cars are scarce and prices are up

Associated Press  

DETROIT — For the next few months, Charlie Gilchrist figures his 11 car dealerships in the Dallas-Fort Worth area will sell just about every new vehicle they can get from the factories — and at increased prices. It will still fall during the next two or three months.” The across-the-board surge in auto prices contributed mightily to last month’s jump …

Why Used Car Prices Went Absolutely Insane Last Month
54 years, 11 months ago

Why Used Car Prices Went Absolutely Insane Last Month

Slate  

You thought the price of wood was nuts? After cooling off a bit from a surge last year, the cost of used vehicles suddenly shot up 10 percent in April alone, according to the Bureau of Labor Statistics’ official inflation report on Wednesday. That’s pushed up sticker prices in the new car market and nudged more shoppers toward preowned vehicles. …

Here’s why car prices are at record highs - and rising
3 years, 8 months ago

Here’s why car prices are at record highs - and rising

CNN  

New York CNN Business — Car dealer lots have only a fraction of the vehicles that they typically have – both new and used. Justin Sullivan/Getty Images “That puts wholesale used prices at the highest level they’ve ever been,” said David Paris of JD Power. “And we are seeing used retail prices accelerating rapidly.” It’s a 180-degree turnaround in the …

A Pandemic Sticker Shock: Used-Car Prices Are Through The Roof
4 years, 1 month ago

A Pandemic Sticker Shock: Used-Car Prices Are Through The Roof

NPR  

A Pandemic Sticker Shock: Used-Car Prices Are Through The Roof Enlarge this image toggle caption Justin Sullivan/Getty Images Justin Sullivan/Getty Images Aaron Springer of Odenton, Md., wasn't looking to sell his 2014 Volkswagen Jetta SportWagen, which he bought used a couple of years ago. Springer's experience is exceptional, but it's also a sign of the times: Prices for used cars, …

The surprising used cars that are surging in value - and they'r not all SUVs, Datium data shows
4 years, 2 months ago

The surprising used cars that are surging in value - and they'r not all SUVs, Datium data shows

Daily Mail  

Used car prices are surging as the coronavirus crisis creates a global supply shortage - and unlike the new car industry, SUVs are not dominating the second-hand market. In just one week, prices for used Holden Commodores have surged by 4.8 per cent, Datium Insights data has revealed. Pictured is a 2013 VF-series Commodore - the last shape made in …

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