Jalopnik

SEPTEMBER 12, 2024

When a prospective buyer of a used vehicle from CarMax doesn’t qualify for financing, they’ll likely be offered a loan from Exeter Finance as a lender of last resort.

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Auto Remarketing

OCTOBER 29, 2024

The difference between the price of a new car during the third quarter and that of a used car is enough money to … well … buy a car. Enough, at least, to purchase an older pre-owned vehicle. However, they still may end up paying more than expected for a newer used vehicle or settling for an older set of wheels.”

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Used Cars Car Finance Vehicle 52

Autoblog: Repairs

AUGUST 14, 2024

Vehicle prices continued a downward trend in July — the most of any major category in the Consumer Price Index (CPI) over the last year as the car market continues its return to "normal" following pandemic-fueled inflation. Used car prices fell 2.3% New car prices fell 0.2% New car prices fell 0.2%

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Used Cars Car Finance Vehicle 52

AutoSuccess

JULY 9, 2024

It’s no secret that dealers are facing a complex set of challenges when sourcing used car inventory. While supply constraints have been a major focus, it’s also important to consider how demand dynamics are influencing the used car market and complicating dealerships’ ability to source inventory effectively.

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Solera

AUGUST 8, 2023

Industry Trends in 2023 While the used car boom that sent prices sky high may be winding down, there is still a large demand for quality used vehicles. Once seemingly overvalued, older cars will take the biggest hit, while late-model cars will hold steady or decline slightly, mirroring the trend for new cars.

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Auto Remarketing

OCTOBER 3, 2023

High vehicle prices and interest rates are delivering an economic one-two punch that is being felt throughout the used-vehicle ecosystem. Think consumer financing and monthly payments, dealership inventory and certified used vehicles, and residuals and repossessions. 6-9 in Scottsdale, Ariz.

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Jalopnik

OCTOBER 12, 2023

Used cars are finally getting a little cheaper, according to Cox Automotive. After what seemed like an interminable series of price hikes across all vehicle segments, used prices are going down. The only caveat is that pickup trucks are trending in the other direction and are getting slightly more expensive instead.

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Jalopnik

OCTOBER 25, 2023

The pre-owned car market is still in a weird place. Some segments like electric vehicles have some hefty savings , but most pre-owned cars are still selling for inflated prices. If you happen to come across a used car that seems too good to be true, make sure the dealer can answer these questions. Read more.

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Jalopnik

AUGUST 16, 2024

The used car market has been an up-and-down mess since at least 2020, with reduced new car inventory pushing more buyers into pre-owned purchases , which reduced the revolving supply of trade-ins. This perfect storm of pandemic-induced chip-shortage used car inflation appears to finally be subsiding.

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Used Cars Car Electric Vehicles Finance 58

Jalopnik

AUGUST 20, 2024

Used car prices are s teadily dropping, mostly due to oversupply , and while electric and luxury vehicles are being hit the hardest, other segments don’t always see a big savings gap between new and used. Read more.

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Auto Remarketing

FEBRUARY 1, 2024

While the groundhog hasn’t delivered his forecast yet, it seems spring might be on the way in the wholesale car market. Used-vehicle prices were down again as January ended, but the pace of depreciation is decelerating, according to the latest report from Black Book. In turn, that is helping to drive down the cost of used cars.”

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Jalopnik

DECEMBER 15, 2023

Honda is going to start offering a leasing program for its certified pre-owned vehicles because new car prices are just way too high at this point. The program is beingv aimed at buyers who want to keep their monthly payments low and don’t have the upfront cash for a big down payment, according to a statement from Honda Read more.

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Auto Remarketing

SEPTEMBER 13, 2024

That’s the message of a new report from Edmunds head of insights Jessica Caldwell that examines the disconnect between what car shoppers want to pay for their next vehicle and what the market says they’ll have to pay. While vehicle prices are coming down from their post-COVID peaks, they’re still well above pre-pandemic levels.

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Jalopnik

DECEMBER 26, 2023

Edward Scott Rock, a Philadelphia used car dealer , was arrested last week by federal authorities on charges of mail and wire fraud. Rock is accused of accepting payments from around 120 buyers across 36 states but failing to deliver a vehicle.

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AutoSuccess

SEPTEMBER 3, 2024

During the coronavirus pandemic, inventory was historically low, customers frequently paid above MSRP and financed cars at higher interest rates and for longer periods of time. These circumstances have resulted in many customers being underwater with their pandemic-era purchase, and upgrading vehicles has become financially difficult.

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Auto Remarketing

NOVEMBER 17, 2023

This means offering a wider range of vehicles that cater to varying customer demands and budgets. While high-end cars may see reduced demand, affordable, fuel-efficient vehicles may become more popular. Focus on pre-owned vehicles During economic downturns, consumers often look for cost-effective alternatives.

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Auto Remarketing

OCTOBER 11, 2024

The car-buying public has a message for the used-car industry, and it’s this: We don’t want to pay too much for a vehicle. That message was clearly conveyed in CarGurus’ latest Quarterly Review, which found sales of lower-priced used cars rising and high-end vehicle sales falling. “As

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Jalopnik

JULY 19, 2024

Not too long ago, vehicle leases were on the decline. So much so that it was affecting the used car market. Now, thanks to EVs, leases are making a big comeback. And thanks to tax credits, German luxury EVs are being leased now more than ever. Read more.

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AutoSuccess

JULY 18, 2024

announced in a press release the launch of the next evolution of TrueCar+ , which now empowers consumers to purchase from over 3,200 new, used, and certified pre-owned vehicles from start to finish completely online. TrueCar, Inc.

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Auto Remarketing

NOVEMBER 25, 2024

While the coming year is showing positive signs for used-dar dealers, we’ve learned that the future is never certain. No matter what curveballs are around the corner, there are key strategies used-car dealers should consider to consistently boost profitability. What will your profit be when (if) you sell the vehicle?

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Auto Remarketing

NOVEMBER 2, 2023

Auto dealerships are also embracing new AI tools for enhancing customer service and reshaping how they price their vehicles. In a traditional book value pricing method, auto remarketing dealerships list the base retail value on their website, leaving out factors such as mileage and vehicle condition.

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AutoSuccess

NOVEMBER 10, 2023

Integrated into the marketplace is the company’s reputation technology that powers more than 13 million consumer reviews, making it the largest review platform in the industry, as well as digital financing and trade-in capabilities that speed transaction time with local retailers.¹

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The Mechanic Doctor

JUNE 16, 2023

The Mechanic Doctor - Resources for Amateur and Pro Auto Mechanics Sales of electric vehicles are growing against the backdrop of rising fuel prices. However, the army of internal combustion engine fans still dominates due to several serious shortcomings inherent in cars with electric motors.

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Jalopnik

JANUARY 24, 2024

Toyota has expanded its certified pre-owned program requirements to include vehicles that are up to 10 model years old and have up to 125,000 miles. The newly-introduced Silver Certification level will include significantly reduced warranties compared to the reassurances granted to cars eligible for the… Read more.

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Jalopnik

MAY 23, 2024

Vehicles in the U.S. In fact, the average car on the road in 2024 is 12.6 That means the average car was built back in 2011. just keep on getting older as new ones continue to cost way too much for the average buyer. Preposterous. Read more.

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Jalopnik

SEPTEMBER 17, 2024

Considering the shambolic state of the American economy, inflation, and rampant wage stagnation, I love finding stories about affordable cars and prices dropping. million one-to-five-year-old used cars listed for sale online between August 2023… Read more.

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Jalopnik

MAY 29, 2024

Cars just aren’t worth repairing anymore. One in every five cars seen by an insurance adjuster is estimated to cost too much to be repaired and returned to drivable condition. There are a ton of factors to look at here , but with high-tech lighting and sensors at the extremities of every car these days, increased use… Read more.

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Insurance Car Used Cars Finance 67

Jalopnik

JUNE 17, 2024

Some buyers, it seems, have decided to give the Vietnamese automaker a chance and actually buy one , despite the cars not being ready for prime time. You probably haven’t seen a Vinfast on the street yet. They’re around though, at least they are here in California. Those buyers may have put themselves into a shaky… Read more.

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