Category: Used Cars

Here’s a look at why

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Consumers who want to spend their tax refunds on a car may be disappointed this spring: Prices are rising. Signals from the used-car market are flashing higher prices ahead, reversing a decline that started last fall. Manheim, which auctions used cars to dealers, reported a 4.3% increase in vehicle prices in February, the largest increase for that month since 2009. Another tracker of wholesale used-car prices, Black Book, said prices rose 0.46% for the week ended March 11, the largest single-week increase since November 2021.Because prices in the used-car wholesale market typically change about four to eight weeks before…
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Why there may be no return to ‘normal’ for the used vehicle market

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Customers browse in a used car lot on February 15, 2023 in Glendale, California. Mario Tama | Getty ImagesAll new vehicles become used cars and trucks once they’re sold. It’s an obvious statement, but one that needs to be laid out to explain the root cause for ongoing inventory and pricing issues in the US used vehicle market, which has been a barometer for the country’s inflation levels.related investing newsDuring the onset of the coronavirus pandemic in early 2020, automakers shuttered factories for weeks to stop the spread of Covid-19. This was an unprecedented action that eventually…
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Should You Sell Your Car to CarMax?

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So you want to sell your car. Whether it’s because you want a new car or because you no longer need a vehicle, you’re probably wondering where you should get rid of your wheels. One popular place is CarMaxwhich is the largest used car retailers in the United States. If you’re buying a car at CarMaxtrading one in through the retailers will likely be your most convenient option. So how does the process work when you sell your car at CarMax, and is it a good idea? We set out to find the answers. What is CarMax? First a quick…
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How to Protect Yourself When Buying a Used Car in 7 Easy Steps – Consumer Reports

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Why you should: Even if the car looks super-clean and the seller promises it was driven gently, you should get an expert opinion on its roadworthiness. What you should do: Given today’s incredibly hot used-car market, it can be a challenge to have a vehicle inspected by a reliable mechanic. With so many people looking for cars, sellers don’t need to accommodate requests like this. Still, it’s worth asking whether you can do so. “If you can, have a mechanic experienced in auto bodywork and accident repair give the vehicle a detailed inspection,” Ibbotson says. The results of this inspection…
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Join the AutoForm Global Webinar: Smart Engineering Enabling Smart Production at Volvo Cars, May 11, 2023

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The quest for “Zero Production Failures” has been a focus of many automotive part producers for the past years – suppliers and OEM’s alike. High output and high cost efficiency are crucial to keep the pace and compete at high levels. Smart Production can be a means to accomplish the mission as long as the term “Smart” implies the adoption of a production control system capable of predicting and preventing failures. But prediction does not automatically imply prevention. In order to build the foundations for the smart factory to stand up to, the process engineering work must be as “smart”…
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Used car prices are surging. Here’s why you should buy now

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Well, it was nice while it lasted. For nearly a year, the average used vehicle in the United States has been edging toward affordable again for millions of people. The relief felt belated and relatively slight, but it was still welcome. From an eye-watering peak of $31,400 in April of last year, the average price had dropped 14% to $27,125 early this month. Now, with the supply of used vehicles failing to keep up with robust demand, prices are creeping up again, with signs pointing to further increases ahead. So many buyers have been priced out of the new-car market…
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