Jump to content
Create New...
  • William Maley
    William Maley

    Prices Of Used Cars Begin to Fall

      Used Car Prices Are Beginning To Drop

    Since the recession has ended, the average price of a used car was soared due limited supply. But The Detroit News says with more vehicles coming in due to leases coming to an end, prices are beginning to fall. According to CNW Research, the average transaction price of a used car in September was $10,963. Compared to the same time last year, the average has dropped 2.1 percent.

    "During the recession, it almost cost as much to get a used car as it did to get a new car, but now the market is going back to historical norms and it's going to be better every month. From 2008 to 2012, there was a significant growth in the number of leased cars and now they're all coming back to the market. As supply is increasing, auction values are dropping ... making used cars more affordable," said Larry Dominique, vice president of TrueCar.

    Used car supplies are on the rise as well, with 9.76 million vehicles sitting on used lots in September. That's an increase of 1.5 percent when compared to the same time last year.

    But there are downsides to increase in used car supplies. Analysts say the increase of supplies means it will be harder for dealers to move vehicles. Also expect an increase in lease rates.

    Source: The Detroit News

    William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster.

    User Feedback

    Recommended Comments

    This is great news for younger people looking for a deal on a low mileage returned leased auto where they could afford a new lower end auto like an Acadia, but can get a Fully Loaded Denali Acadia for the same price with only 20-30K miles on it.

     

    Sweet.

    Link to comment
    Share on other sites



    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.


  • google-news-icon.png



  • google-news-icon.png

  • Subscribe to Cheers & Gears

    Cheers and Gears Logo

    Since 2001 we've brought you real content and honest opinions, not AI-generated stuff with no feeling or opinions influenced by the manufacturers.

    Please consider subscribing. Subscriptions can be as little as $1.75 a month, and a paid subscription drops most ads.*
     

    You can view subscription options here.

    *a very limited number of ads contain special coupon deals for our members and will show

  • Similar Content

  • Posts

    • You’re thinking in purely North American terms. China and Middle East still have decent sedan sales. It costs Genesis next to nothing to put a couple of these on a boat to the US with some GV80s. The boat is already headed that direction anyway.    As for coupes and convertibles, these are just concepts for now, but as platform flexibility increases with the move to EV, I think we will see he return of lower volume body styles like these.
    • This looks so freakin great.  
    • Well kids, today's lesson is: Just buy the effing tool you need. Last weekend I took the R1100RS out on the longest ride I've been on with it. A total of 5 hours of wandering. Even with 109k miles on it, this bike just loves to chew up highway. The engine runs superbly.  I was really trying to burn off gas that's been in the tank a little long for comfort, but even with 5 hours of riding, I have more than half a tank left! No issues on the trip except I noticed that the right fork was leaking oil.  These are telelever forks that don't actually have any suspension components in them. The shock and spring are mounted on a cantilever platform between the forks.  Essentially, all the forks do is slide up and down and keep the wheel aligned. When I got back from the trip, I ordered a set of fork seals and picked up fork oil. Watched a few videos on the process and decided I was set. ALL of the videos suggested that I could get the oil seal out with a flat head screwdriver. Both my Haynes manual and the BMW service manual I have said to use an oil seal remover tool. You can see where this is going. I effed with that oil seal for a good hour with a flat head, some long needle nose pliers, even some plastic bodywork tools I have before I gave up and drove to Harbor Freight.  Harbor Freight has an Oil Seal Removal tool for $7.99.  I got that and a few other things that I decided I might need to try also. Got home and with the tool I had the oil seal out in 15 seconds. . I replaced the seals, topped it off with some fresh fork oil, and had it back together faster than the time I spent just trying to get the damn seal out. So, moral of the story is: Just buy the damn tool.
    • Based on the pictures, it would appear what went into the EV9 has been pushed out to the other EVs in Hyundai and Genesis based on the pictures. If so, then a decent set of physical switches for the most common features and a very user-friendly thought-out interface imho. I like this new updated design much better than generation 1. I am very excited to see what comes of the next 18 months. Seems to be a weird assortment of some companies are investing in the U.S. to ensure market share gain and production with minimal tariff affect like the 21 billion Kia/Hyundai/Genesis are investing and then others are cancelling plants like Ford and GM. Then you have the Europeans that have come out and stated they will have a Tariff line cost on each auto now with no changes in production as I think they are figuring 47 could be gone soon based on recent video of him and his leg dragging, slurring of speech and freezing in talking and someone else will have common sense to set fair trade negotiations and balance the craziness out.
    • My main question is if they improved the center console.  I really like the Ioniq 6, but the center console of the interior was such a huge miss in terms of material quality and construction that it killed the car for me. It was odd that given the level of quality in the rest of the interior that one of the most touched items in the car outside of the steering wheel was an obvious afterthought to the design team.
  • Who's Online (See full list)

    • There are no registered users currently online
  • My Clubs

×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

Write what you are looking for and press enter or click the search icon to begin your search