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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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