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That would be fine if wages had kept up with inflation, but over the last several decades, that definitely hasnt been the case. The good news is, usedcars are better than theyve ever been, and if you can find a reliable one, it could still last you for years.
Our context for the usedcar market in particular is very different than it was in 2021, Smoke said. Were expecting a more normal experience for the used vehicle market, and that is when prices see an abnormal increase, they typically dont stick. Back then, we had what became $4.1 trillion of stimulus pushed through the economy.
The reports consumer survey found prospective car buyers are expecting to pay 8% more ($36,732) for their next vehicle than they did a year ago, but interest in buying a new vehicle has shot up 30%, even though the average new-car price began 2025 at a near-record $49,853.
iSeeCars is seeing something it hasnt seen in more than two years: rising used-car prices. The automotive search engine and research website said its latest study showed the average used-vehicle listing price in March was up 1% from March 2024, the first year-over-year increase since October 2022.
Before Covid hit during Trumps first term, it was pretty common for five-year-old usedcars to only be worth about a third of their original price, while more desirable cars might retain as much as half their value. And yet, if you want a used C8 with a clean title, $55,000 or so is about as cheap as it gets for now.
It’s no secret that the pandemic threw a wrench into a whole lot of people’s car-buying plans. Things have largely recovered , and prices aren’t as crazy as they used to be, but if car buyers haven’t been keeping a close eye on the market, they could definitely still be in for a shock the next time they walk into a… Read more.
Similarly, car regular preventative maintenance allows you to keep your car in the best possible condition and prevent any major issues ‘down the road’ In this blog, we will be discussing some of the reasons that preventative maintenance is important for usedcars.
I mean come on, what else can they throw at us? The used-car market is definitely showing signs of declining prices. The amount of new-car inventory availability is improving and with it, our opportunity to make some choices: — Do we take what we have learned during the COVID 19 pandemic?
As buyers hurry to lock in pre-tariff pricing on new models, that sense of urgency is starting to show up in used-car activity too. Its definitely something for dealers to keep an eye on. At the same time, some foreign-based carmakers have begun to pause or slow shipments to the U.S.
That’s not exactly conducive to selling usedcars. It’s definitely worth looking at — and coming up with your own best process. If they did venture out, they were asked not to interact, wear a mask, stay 6 feet apart, and — whatever you do — don’t shake hands! Why am I bringing it up? What did we do different?
The cream puffs are much harder to find, and the payments on the newer usedcars are much harder to afford. Efficiency means a measurable method for getting work done faster using resources more wisely. New-car demand fell, driven by the pandemic and supply chain issues. This is a market where time efficiency pays off.
Sixty-nine percent of dealers said they are likely or definitely a proponent of enabling customers to research their F&I options online. of dealers said they are possibly or definitely a proponent of enabling customers to purchase their F&I options online. In a separate category, 89.2%
In fact, it is extremely common for usedcars to fail the first safety inspection. Seatbelts – A broken seatbelt can most definitely cause your vehicle to fail a safety inspection. If your mirrors are cracked or broken, take your car to a mechanic to have them repaired, as you will most definitely fail a safety inspection.
The average new car transaction price these days is nearly $50,000, which isnt great when you consider the median income in this country is about the same. So if you need to replace your current car but cant afford something new, you definitely arent alone. Decades of wage stagnation have put Americans in a tough Read more.
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