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Hurricane Sandy Drives Used Car Prices Up

SVLuma / Shutterstock.com Hurricane Sandy’s trail of destruction hasn’t left used car shoppers unscathed. The National Automobile Dealers Association reports that used cars that are up to eight-years old could see prices rise 0.5% to 1.5% in December. “The loss of used-vehicle supply and the increase in replacement demand after Hurricane Sandy will have the greatest impact on used-vehicle prices in December,” says Jonathan Banks, executive automotive analyst with the NADA Used Car Guide. In comparison, NADA says that ... continue reading»

Tags: News, Used Car Prices, flood damaged cars

Used Cars: Better Choice than New?

Justin Sullivan/Getty Images When shopping for a car, choosing between new or used means considering a lot of different factors. New cars are under warranty, while with some used cars, you have to worry about the vehicle’s maintenance history and hope there are no problems. On the other hand, used cars tend to be more affordable than new cars, and you can often get more car for your money. Now there are a couple more reasons to give used cars another look ... continue reading»

Tags: Analysis, new car prices, Used Car Prices, used car deals

Used Car Prices Declining

Tim Boyle/Getty Images If you’re shopping for a used car, there’s good news. Used car prices are beginning to drop after months of record high levels. Earlier this year, analysts said that used car shoppers should expect to pay more due to higher demand and lower inventory levels. In February, the National Automobile Dealers Association (NADA) Used Car Guide predicted that used car prices would peak in April and May. While this was good for consumers who wanted to trade in ... continue reading»

Tags: News, Used Cars, Used Car Prices

Americans Holding onto New Cars Longer

Drivers in the U.S. are keeping new cars for nearly six years, which is the longest time period since 2006, according to a new study by Polk. When Polk began surveying new-car owners in 2003, people were keeping new vehicles for about four years, according to the Atlanta Journal Constitution. Now, Polk reports that buyers are waiting for an average of 71.4 months to sell or trade their new vehicles. MarketWatch reports that the aging new-car fleet in ... continue reading»

Tags: News, Used Cars, Industry News, Used Car Prices

Used Car Prices on the Rise

If you’re in the market for a used car, don’t expect to get a fantastic deal. Used car prices are up and will continue to rise in 2012, thanks to an increase in demand and decreased supply. "Consumers shopping for either a new or used vehicle will benefit this year from higher trade-in values along with loosening credit," Jonathan Banks, executive automotive analyst with the National Automobile Dealers Association (NADA) Used Car Guide, said at the NADA Convention ... continue reading»

Tags: News, Used Cars, Used Car Prices

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