If you want a used car, be prepared to shell out. UBS estimates they shot up another 10.8% in May, after April's 68-year record surge of 10%.
"It's just a total dislocation in the market caused by a surge in demand and lack of supply," the CEO of an online used-car marketplace said.
The crippled Colonial Pipeline has sparked gas stockpiling and price hikes, while the April used-car surge was the highest in data going back to 1953.
UBS sees the used-car prices jump leading an "enormous surge over just the past few months" for the consumer price index, a popular inflation gauge.
New data from the ACCC found that Australians have been cheated out of $288,000 by used car scammers in the first three months of 2021. A chronic shortage of new cars has resulted in surging used car prices, with values increasing by up to 40%. The ACCC says Australians are […]
January is the best month to buy a used car, according to a study from car search engine and automotive research firm iSeeCars. For those hunting for a good deal, late fall and early winter are the best times to buy a used car, while late spring and early summer […]
Carsales Australia boss Ajay Bhatia says higher prices for second-hand cars are here to stay for some time to come as consumers pay top dollar for vehicles posted on the online car classifieds group’s platform. Mr Bhatia said that the recent surge in used car prices was unprecedented and buoyed […]
Ernie Garcia II and Ernest Garcia III, the father-son team behind online used-vehicle sales platform Carvana, saw $US5 billion added to their net worths on Tuesday as the company posted record profits. The coronavirus pandemic put used cars in high demand as Americans seek to avoid public transit, Piper Sandler […]
Shares of Carvana rose up to 32% on Tuesday after the company projected record performance in the third quarter in several categories including retail units sold and total revenue. Goldman Sachs upgraded its Carvana rating to “buy” and upped its price target to $US205 per share from $US178. Carvana is […]
Summary List Placement According to car search engine and automotive research firm iSeeCars.com, the average price of used cars rose 4.1% – about $US941 – from July to August. iSeeCars.com compiled a list of the 10 cars with the greatest price drop between the same time period. The list consists […]
Car search engine and automotive research firm iSeeCars.com compiled a list of the 10 fastest selling used cars during the pandemic. There are three Teslas in the compilation, including the Model 3, which tops the list with its average sell time in 29.3 days. Besides the three Teslas, a BMW, […]
Vroom on Wednesday reported quarterly earnings and gave an outlook that fell short of Wall Street’s expectations. Shares of Vroom fell as much as 23% on Thursday. The company lowered inventory when the coronavirus pandemic hit. “These lower inventory levels prevented us from fulfilling all of the demand that materialised […]
Consumer Reports and the Insurance Institute for Highway Safety have published a list of the best used cars for teens, with all offering a combination of reliability, safety, and affordability. The vehicles all earned high crash-test ratings and are more dependable than the average car. All the cars Consumer Reports […]
Vehicle-buying website CarGurus released its annual list of the best secondhand cars to buy on Wednesday. CarGurus analysed factors like projected depreciation, driver satisfaction, expert reviews, model popularity, and vehicle availability to choose the best used models across 10 vehicle categories. The site named the 2014-2019 Chevrolet Corvette the best […]
Automotive search engine iSeeCars.com analysed more than 15.8 million car sales in 2019 to identify which brands build the longest-lasting cars. The company found that models from Toyota, Honda, and GMC were the most likely to last for at least 200,000 miles. German luxury cars from Porsche, Audi, and BMW […]
Business Insider asked experts in the used-car-selling space for little-known tips on how to best sell a used car. The experts – from Edmunds, Autotrader, and Cargurus.com – offered up some unexpected suggestions for how to create a listing, take photos, price a car strategically, and get top dollar for […]
Car search engine and automotive research firm iSeeCars.com has compiled a list of the five best used sports cars under $US20,000. The five sports cars on the list have all been deemed “long-lasting” and have received a good safety score from the Insurance Institute for Highway Safety or a 4.0 […]
Auto sales are in a free fall amid the coronavirus pandemic, and things are only forecasted to get worse. Used car prices could fall by more than 15%, JPMorgan estimates, as supply floods the market. That’s creating headaches for dealers, who were already under massive pressure. Visit Business Insider’s homepage […]
Automotive research firm iSeeCars.com has compiled a list of the most popular used cars by state. The Ford F-150 is by far the most popular used car in America, taking the top spot in 32 states. Ford’s iconic F-150 is also the most popular new car in the US. Visit […]
Automotive research firm iSeeCars.com created a list of the 10 sports cars that boast the lowest depreciation rates. The Porsche911 coupe tops the list; it lost 37.2% of its value, or about $US53,595, over a five-year period. The list also includes Nissans,Subarus, and a Ford, a Dodge,Chevrolet, and Mazda. Visit […]
Automotive research firm iSeeCars.com has compiled a list of the 10 cars that are better purchased new than used due to the lower-than-average cost difference. The list is topped by the Honda HR-V, with a new model costing on average only $US2,260 more than a used one. Visit Business Insider’s […]
A shift to used-vehicle sales in the US is the latest data point that suggests ‘peak car’ may have already happened in the United States. Shareholder returns for GM and Ford have been weak as a slew of concerns continue to build around the legacy automakers. Watch GM and Ford […]
New cars lose 10% of their value within the first month of ownership and 20% within the first year. That’s bad news if you’re buying a new car, but great news if you’re buying a used one. Here are seven of the best used cars you can buy. Visit Business […]
Buying a used car instead of a new car is a good way to save money. But if you don’t know which makes and models to avoid, you could overpay in the long run. Here are six types of cars, from the brand new to the discontinued, that you should […]
Buying a used car can be a stressful experience – but if you plan ahead, you can get some great deals. The biggest choice is between buying from a dealership or a private seller. In particular, don’t overlook certified pre-owned vehicles or gently used luxury brands. Knowledge is power, especially […]
Buying a car can be stressful, especially if salespeople are trying to run a scam on you. Alan Diaz, a branch manager for Cartelligent, listed eight of the most common scams you might encounter at a car dealership. His best advice? If a deal seems too good to be true, […]
Buying a used car can be a great way to get into a nice set of wheels without spending a fortune. To ensure you don’t end up stuck with a lemon that will cost you money on damage and repairs, it’s important to run a history report and vet the […]
The automotive search engine iSeeCars.com recently commissioned a study to look at the used car industry. They studied a pool of four million used cars that were 1-to-3-years old and had been sold between January and July 2018. iSeeCars.com found that the fastest-selling used car on the market is the […]
Some off-lease used cars can be purchased for under $US20,000. iSeeCars.com analysed more than 4.1 million cars to find the 12 cars that had the lowest 3-year-old used price. The average depreciation rate for new cars after three years is 35%. The 12 cheapest used cars on the lowest used […]
Off-lease used cars are a great way to get your hands on a nearly new car at a large discount. iSeeCars.com analysed more than 4.1 million cars to find the 10 vehicles that lost the most value during the first three years of ownership. On average, new cars depreciated at […]
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If you’re going to buy a new or used car, it’s good to know that it’s not going to break down after a few thousand miles. Even better is knowing that it’ll have a good shot at crossing the 200,000 mile mark. To find the vehicles mostly likely to reach […]
The over-the-top Craiglist ad is an art form, and we’ve seen some impressive works from those looking to sell fixed gear bikes and a 1995 Pontiac Grand Am GT. The latest entry into the Pantheon on crazy good Craigslist ads comes from Dallas, and it’s for a 1987 Mercedes-Benz SEL […]
The bait and switch, yo-yo financing, and lies.
Look for the warning signs.
[credit provider=”Screenshot”] Buying a hybrid car may be an appealing way to save money on gas and to be environmentally friendly, but the price premium of a new hybrid car is often a stopper for many new-car buyers.One way to avoid the extra cost of many hybrid cars (versus their […]
[credit provider=”neekoh.fi via flickr” url=”http://www.flickr.com/photos/neekohfi/4517112085/”] Toyota and Honda are scoring big in two competing indexes that measure how well new cars are expected to retain their value.For the second year, Toyota and its luxury brand, Lexus, hold the top spots overall when it comes to resale value in Kelley Blue […]
[credit provider=”ldills / Instagram” url=”http://instagram.com/p/Rc9sDjvx_b/”] Used-car prices are expected to rise $200 to $1,000 nationwide because Superstorm Sandy wiped out as many as 250,000 new and used vehicles.Buyers already are starting to show up at dealers to replace the 100,000 to 250,000 vehicles that the National Automobile Dealers Association estimates […]
[credit provider=”Flickr / waitscm” url=”http://www.flickr.com/photos/chriswaits/6126989839/”] Huge numbers of cars were flooded by Hurricane Sandy, and it’s a safe bet some of their owners will try to recoup their losses by covering up the damage and selling them.Gregg Fidan, the founder of RealCarTips.com and the author of Honest Guide to Buying […]
[credit provider=”Flickr / rlh” url=”http://www.flickr.com/photos/megapixelated/33003565/”] With the worst of Hurricane Sandy over, much of the east coast is left to examine the aftermath of its destruction, which includes debris-filled streets and flooded buildings. A consequence of the storm many have not yet considered, however, is the issue of flood damage to cars.Many […]
[credit provider=”KB35″ url=”http://www.flickr.com/photos/kb35/1645414358/sizes/z/in/photostream/”] Buying a new or used car can be a harrowing process: There’s a lot of paperwork, a lot of information buyers are likely not to have, and a lot at stake. The last thing car shoppers need is a salesperson using tricks and scams to increase their own […]
[credit provider=”Flickr/Dexter Panganiban” url=”http://www.flickr.com/photos/dexfamily/7045834433/sizes/z/in/photostream/”] Other than a new smell and the satisfaction of being the only owner, buying something new doesn”t make sense for some things.Buying used items can save you a significant amount of money, which can make up for the fact that you don’t get the joy of […]
[credit provider=”flickr/mdpettitt” url=”http://www.flickr.com/photos/mdpettitt/2667851083/sizes/l/in/photostream/”] We recently shared a list of 20 things you should never buy used. Because it’s often true: You get what you pay for. When it comes to safety, hygiene, and warranties, there’s no substitute for buying some things new.But for the most part, you can save a […]
[credit provider=”Flickr via libertinus” url=”http://www.flickr.com/photos/libertinus/160207691/in/photostream/”] Used car prices, after rising sharply this year, are starting to fall.But experts advise waiting until later this year to buy a vehicle to take advantage of the best deals.
[credit provider=”flickr lucianvenutian” url=”http://www.flickr.com/photos/lucianvenutian/1079118368/in/photostream/”] As economic hardship continues to keep Americans struggling with monthly budgets, looking to affordable auto loans can mean the difference between staying in the green or going deeper into debt each month.A resource that borrowers are turning to more frequently are credit unions, like Pentagon Federal Credit Union, to keep […]
[credit provider=”Flickr / Alan Stanton” url=”http://www.flickr.com/photos/alanstanton/2493833576/in/photostream/”] For bargain shoppers, hitting up secondhand stores, garage sales and online resellers can be a no-brainer. Actually, in most cases it is a no-brainer.
Beautifully maintained trophy cars are being dumped for cash. What does that say about the “real” economy? Everybody has their own “on the ground” recession indicators: the mall parking lot, the tony restaurant that used to be packed every weekend, and so on. I have two favourites: freight trains rumbling south […]
[credit provider=”Travis Okulski / Business Insider”] Buying used can be a great way to save money on a great vehicle, and whether you’re pro-used car or anti-used car, you can’t debate the fact that used cars lose a great deal of their value within the first few years of ownership.Nowhere […]
[credit provider=”Flickr / sean dreilinger” url=”http://www.flickr.com/photos/seandreilinger/4213879816/sizes/o/in/photostream/”] When it comes to buying cars, women may be the more practical shopper, a new study by LeaseTrader reveals.That is to say, they’re more careful and less superficial than their male counterparts.
[credit provider=”Daniel Goodman / Business Insider”] It’s a common question: Which is greener, continuing to drive my old car or buying a new, more fuel-efficient one?As with many such questions, the answer is: It depends.
There’s a reason winter is the best time of year to think about buying a car, used or new:
[credit provider=”www.flickr.com” url=”http://www.flickr.com/photos/maxoz/5655609277/”] Cash-strapped consumers flock to Buy Here, Pay Here used car dealerships when their credit stinks, they need a car, and they don’t want to wait. But a recent L.A. Times article blows the lid off how these dealers target vulnerable, low-income consumers who eventually default on their loans.