These are unusual times with the used car market setting new highs due to the microchip shortage of new vehicles. As listeners know, I monitor auction prices weekly in an effort to bring you the most up-to-date market conditions. Read More
I referenced this article numerous times on the Saturday CarProUSA Radio Show. The crazy-high used car market has a lot of you thinking about making a move to take advantage of that. I currently see people who thought they were upside down (negative equity) finding out they are OK, even if they checked just 30 days ago. I am seeing people jump out of leases early, or if near lease end, cashing in on their equity.
Before you visit ANY dealership, itís always a good idea to know where you stand in your trade-in vehicle. Thereís no more awkward moment for the consumer or the dealer than when the moment of truth comesÖwhen you find out what your vehicle is worth versus the amount of money you owe on it. Read More
Out of 2017 model year vehicles, the GMC Sierra 3500 is the model with the best overall resale value in J.D. Powerís latest Resale Value Awards, and both Honda and Toyota each walk away with five awards. The 2020 awards, in their third year, recognize the best resale value across 25 model-level vehicle segments following three years of ownership. The awards are based on transaction data using customer insights.
I had a caller from North Texas last Saturday who had a unique issue. She was going through a divorce and last January traded in a Porsche for a pre-owned Lexus in Louisiana. The only problem was the Porsche was in her soon-to-be ex-husbandís name and he has not surrendered the title to the car. After nine months, the dealership became hostile with her, and it is hard to blame them. They have been sitting on a Porsche they cannot sell all this time, and I am sure it has dropped in value. Read More
Resale value is something you hear me talk about a lot on the Car Pro Show. I tend to recommend vehicles with great resale value, and not recommend vehicles with poor resale. I am quick to point out, however, that if you plan to keep a vehicle for a long time, resale value is not nearly as important.
The fact is, some vehicles do better than others by far. The research firm iSeeCars looked at 7.7 million new and used vehicle sales to determine which vehicles lose the most and least money Read More
Kelley Blue Book is out with its list of 2019-model year vehicles with the best projected resale values. Itís a big consideration for many car shoppers and one Car Pro Show host Jerry Reynolds talks about often on the show when it comes to comparing vehicles.
KBB breaks it down to the best mainstream and luxury brands with the overall best resale values, along with the best model in each category and finally a list of the top 10 models with the best resale value (in alphabetical order.) Read More
We had a couple of callers last week wanting to know how to sell a vehicle themselves. I wrote an article some years ago about selling a car on Craigslist.com. As I explained to the callers, even if not selling on that site, many of the principles still apply at any website that sells cars, so here we go!
With the average age of the cars on the road in the United States at a record 11 years old, I hear regularly from people who want to get something newer, but need to maximize the amount Read More
There was a very recent case of a Georgia couple who was killed after answering a Craigslist ad for a 1966 Mustang. There is a suspect in custody, and police think robbery was the motive. The coupleís SUV was found submerged in a lake.
Evil lurks all around us, and there have been many crimes, including murder, associated with Craigslist. These instances are rare, but do happen.
1. The biggest rule when buying or selling a car on Craigslist, never ever meet at your home, or the home of a Read More
Resale value is something of an art, and something I talk about all the time on the Car Pro Show. It is mixing a carís age, its mileage, general condition, and equipment levels with less straightforward factors like popularity or supply.
Most of the things that bring down resale value happen over timeĖbut some of the features and fundamentals that can boost resale value or knock it down can be determined before you even leave the showroom. Itís simple to see how regular maintenance pays off Read More