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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

Falling Gas Prices Dragging Down Cost of Fuel-Efficient Cars

If you’ve been eying a used hybrid or fuel-efficient small car, now is the time to buy, while declining gas prices have consumers less concerned with saving money on fuel. As this concern lessens, so does demand for efficient used vehicles, which is leading to a decline in their average retail value. A recent report by the National Automobile Dealers Association indicates that prices for used small and midsize cars and hybrids will be $300 to $900 less in ... continue reading»

Tags: News, Used Cars, Gas Prices, Small Cars, Hybrids, Fuel Economy

Chrysler Group CPO Program Will Include Vehicles from Other Automakers

Automaker certified pre-owned (CPO) programs generally only include vehicles made by that manufacturer. Chrysler Group is trying a different approach. Through a new CPO program called Diversified Certified, Chrysler, Jeep, Dodge, Ram and FIAT dealers will sell used vehicles from other automakers that will be covered with a Chrysler Group warranty. Shoppers looking for a certified pre-owned Honda, for example, may be able to buy one at a Chrysler Group dealership. “Just because we didn’t build the vehicle, doesn ... continue reading»

Tags: News, Used Cars, Chrysler, Dodge, Jeep, FIAT, Ram, certified pre owned cars

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

Goodyear Announces Tire Recall

Goodyear is recalling about 41,000 tires that could wear out early. According to the Detroit Free Press, the tire’s tread could separate from the rest of the rubber, which can decrease handling and cause an accident.  If you’re buying a used truck, van or SUV in the near future, you should check the type of tires on the vehicle before you seal the deal. Buying a used car with recalled tires is dangerous, and this recall is ... continue reading»

Tags: News, Used Cars, Safety, NHTSA, Tires

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