"It's a buyers market for used cars," You take four years of record new-car sales, add more than a year of discount financing on new vehicles, mixed in with an economic slowdown, and poof:
"Sweet Deals on Used Wheels."
Strong new car
sales mean more trade-ins, boosting the supply of used
vehicles.
Discount financing lowers monthly
payments for new cars, which means the price of used cars also has to decline to
offer the price difference that buyers expect. The sluggish economy has pushed
car rental companies to trim inventories, putting more late-model vehicles on
the used car market.
Used cars might not
have the panache of their shiny new brethren, but they have a significant edge
in sales volume. On average, nearly three used cars are sold for every new-car
transportation, said Donna Wassel, Southwest region vice president for Car-Max,
the country's biggest used car market.
With unemployent
escalating and used cars prices declining, could this be good news for
rebuilders ?