Every few years, we replace one of our three vehicles (we own 2, lease 1). Every few years, I am reminded as to what a miserable experience car shopping is. It shouldn’t be this way. Car prices seem to be completely random. The experience is fraught with sharks, liars, and weasels. Too many sales people fall between boiler room stock jockeys and high pressure insurance salesman. There are, of course, notable exceptions. We leased an Infiniti G35x (from Christine in Connecticut). Got
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It is the time of the season that used car prices fall off. I began following the wholesale used car market in 1996. I distinctly recall a dealer friend of mine, Jerry McKinney, explaining it to me this time of year “Son you better get your nuts in the nest, winter is a [...]
Used-car prices soared in September to a new record, according to the Manheim Used Vehicle Value Index, which measures the prices and values of used cars. As we wrote in September, low inventories led to an increase in used-car prices. Much of this is due to the Cash for Clunkers program, which sapped new-car inventories and forced dealers to scrap and recycle vehicles that might normally be trade-ins. The higher prices were also influenced by fewer vehicles from rental car companies landing
The Manheim index of used car prices has risen over 20% this year through September. That's the biggest increase on record. The cash for clunkers program hasn't had much to do with this, since the rising price trend has been firmly in place for many months. I note reports in the news today that BMW is now beginning to increase output at its factories in response to strong demand, after cutting production sharply earlier this year. Sounds like a V-shaped recovery to me, and while some sectors are
The prices of cars in Malaysia as opposed to our income is just mind-boggling. I am a auto enthusiast but have been forced to drive second-hand cars as like many Malaysians. I just cannot come to terms to pay such unrealistic prices for cars. In 1986, a Toyota Corrolla or Honda Civic only cost RM25,000 – RM28,000. In the early 1990s, the prices rose to RM50,000. By mid 1990s, it was about RM80,000 and by 2000 it had breached RM100,000. A 1.8 sedan now costs RM110,000.A similar car in Thail
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