Used Car Values Climb

Tuesday, May 12th, 2009

While automakers are scrambling to get buyers into showrooms to pick up shiny new models right now, used cars seem to be having no trouble finding homes. In fact, a report by Manheim Consulting says used car sales are up by almost 9 percent compared to the beginning of the year. That’s good news for dealers and sellers alike, but the figure is still down nearly 2 percent versus last year. Given that information, it’s no surprise that the report goes on to say dealers are beginning to make up the losses they’re experiencing the new car front with more used-car sales.

That also means the value of the used car in your driveway is climbing – probably not enough to retire on, but climbing none the less. The Manheim report says the gradual rise in wholesale prices of used cars, that is, prices paid by dealers at auction, was originally thought to be driven by the lack of new car sales the market saw toward the end of last year and the beginning of 2009. Now it appears the trend is separate from new car sales all together – especially good news if you’re looking to sell or trade in your current used car right now.

Its true higher values usually mean a steeper price tag when it comes time to buy your new-to-you car, but in this case, Manheim says a number of factors are combining to be beneficial for both buyers and sellers. For one, the growth of internet-based cars sales has helped dealers limit their inventory and reduce costs, allowing them to pass some of the savings along to buyers. At the same time, the ability to find a vehicle over the Web means consumers now have access to a greater selection of vehicles than ever before, meaning it’s easier to shop around for the best deal anywhere. Now that’s progress.

Welcome to the UsedCars.com Blog!

Wednesday, April 29th, 2009

Thanks for stopping by! If you’re looking for a great spot to learn all there is to know about used cars, you’ve come to the right place. From now on, our experts will tackle a wide variety of issues every month related to finding, buying and owning used vehicles. You never know what you’ll find, so be sure to check in regularly to see what other readers have to say about our insights on the used car world. Whether you’re a new-comer to buying used or know all there is about picking up a vehicle with a few extra miles on the clock, we want to hear from you. Don’t hesitate to let us know how we’re doing.

We know you’re busy. We’re here to scour the internet for the information you need when it comes to used cars, and we promise not to waste your time wading through topics you don’t care about. We’ll skip past the boring technical lingo surrounding used cars and jump right in with the information that means the most to you. If all goes well, we’ll even have a little fun while we’re at it.

We hope to be as entertaining as we are informative, too. Buying a new-to-you car is exciting! You’re getting a great vehicle for a smart price and starting a whole new chapter of your life, all at the same time. With the right research and knowledge on your side, you’ve got nothing to worry about. Why not have a little fun while you’re at it? So take a breath, enjoy the used car experience and stop by regularly to see what we’re up to. It’s going to be a great ride.

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