Used Car Boom: Why they are worth more than ever
Used Car Boom: Why they are worth more than ever
Something unprecedented is happening: used cars are actually appreciating in value.
In fact, the average price of a used car has shot up 48% in the last year. This is forcing huge changes in the industry, leading decades-old dealerships to start offering online sales and home delivery.
They’re hoping to ward off disruptors like Clutch, a Canadian online used car marketplace, which is going after younger customers who want the convenience of ordering a car like they would a pizza.
For The New Reality, Mike Drolet explores the wild ride of used cars sales – and how long this trend is likely to continue.
For more info, please go to https://globalnews.ca/news/8736736/used-car-booming-market/
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People are already canceling hired house cleaners and cleaning their own houses because of the higher costs of living. Eventually people will cancel, "Clutch", and save money by shopping for cars on their own, and cleaning the vehicles themselves.
Justin Trudeau should be in jail for diddling young girls . That should be the headline ! This news station is crappy ..
Crypto is the future, lot’s of people will kick their legs finding out they world have joined the Crypto space now it’s still affordable. It provides a lot of opportunities
When trudeau puts a time limit on buying new gas engines nobody will be buying them and they will keep old ones like they do in Cuba.
Eet deeks global u suck. Used car prices have gone up averge of 48% because of the supply chain issues brought on by terrible government covid policy.
Bought a 2021 Kia Seltos last Summer, already went up in value from 31,000 to 33,000 HAHAHAHAHAHAHAAAAAAAAAAAAAAAAAAAAAAAAAA!!!!
Because the federal fascists in charge are very purposefully making everything more expensive…. because the fascists keep printing money with nothing to back it up. And the fascist media will try to tell you that Justinflation is great for the country…. and it does not matter how fiscally irresponsible PM Blackface is, his corporate media partners will back the fascist up.
EV Cult will never succeed. More used beaters that burn oil will be on the road
Gas prices and increase housing and interest rates will make people trade in their cars….it’s the first to go in a budget crisis
Bought a Honda Odyssey last year and was offered three thousand dollars more than I paid for it just recently. Insane
Making a major purchase requires you to be very informed. As long as this method can confirm that someone has gone over the major components and verified not near failure and fit for service .
Less people are trading in because they’re ordering new cars and not doing trade appraisals so you don’t see that car sit on their lot for a long time. People feel they won’t find anything so they’re buying used cars faster than ever.
vehicles are going up in value, because people are living in them, so now it’s like real estate value will go up. lolol. fml
the most valuable cars of the future will be those with zero electronics, from the early 80’s and down
I have wait 4-6 month for mazda 3 sport gs….. this is ridiculous
Car companies are tactically making you order so that they save money and only build what you ask for.
the Prius I bought in 2018 is still going used for what I bought it for at the car dealership
I think many folks want new cars but, it’s very hard to buy it or it’s very hard to pay over $400 every month plus full cover insurance ….probably the monthly payments will be over $600 with insurance….that’s insane
Lease customers are being taken out of their cars early and they’re ordering next years model a few months after owning theirs. Especially commercial customers
I bought a 2005 chevy suv for 2500$ about 4 or 5 years ago, now they’re selling for 3500-4000 with about 250kms.
unprecedented…
Soon you will have to eat used food.
Gas vehicles won’t be affordable to buy fuel as carbon tax ensures that.
It’s not worth more. Your dollar is worth less (and worthless!)
You can just tell the used car industry had the rules tailored for themselves
Canada sucks.
I don’t have drivers license yet cause I’m lazy to go driving school while busy on college takin bus
Person comes in for a trade appraisal. Dealer offers low numbers based on a 6 month wait except they says it’s todays value. Customer comes back to pick up new car and they’re stressed about the trade appraisal. Customer demands value they were promised.
Dealer marks up the car after heavily reconditioning it. Some don’t do much to them and still mark them up.
Commissions have never been higher.
They’re making more money than ever.
The price hike is getting paid because people see there’s no new cars and hardly any options for cars because most of the cars that can get exported ARE being exported.
Many cars are being stolen and shipped across the ocean.
10-12 doesn’t get you much.
She’s looking at so many cars she’ll never pick one until she gets tired out. She would have the same issue even if there’s was tons of cars out there
Don’t pay more than bluebook for a used car. This is a scam. Cars are already overpriced because of the dealer markup scam. A dealer ads no value to a car purchase. They only exist to extract the maximum dollars above MSRP to line their pockets.
Just so you know trade in values are still low.
Retail is higher than ever