Tag: used cars near me under 5000

Used cars continue to get cheaper, new research finds

By Didi on
Australian wholesale new vehicle prices have fallen 12 per cent from their peak in May 2022, as normality returns to the wider supply chain and demand for pre-loved car cools. The Q4 Used Vehicle Price Report found used car prices have now decreased for seven successive months, and in January 2023 they had their first year-on-year decline since May of 2020. Moreover, used car prices are expected to continue returning to earth during 2023 as new car supply improves, and demand weakens on the back of higher borrowing costs and inflation. For more Motoring related news and videos check out…
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When will car prices drop?

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If you’re like many would-be vehicle shoppers, you may be wondering when prices will finally drop. For the past two years, the high cost of new and used vehicles has repelled many Canadians who may have otherwise considered trading their vehicle in or buying a new one. The good news is that the vehicle market seems to be finally stabilizing, which means that the cost of used and new vehicles could drop significantly in the coming months. Today, I’ll explain why vehicle prices might drop and outline some driving forces behind the current cost of vehicles in Canada. THE DRIVING…
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Montreal arson squad investigating used car dealership fire

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A used car dealership was damaged by an apparent arson early on Monday morning in northwest Montreal. The flames also destroyed four cars, but no injuries had been reported by midnight. Montreal police (SPVM) reports that a 911 call at around 1 am indicated that the fire had just started at the establishment located on Gouin Boulevard West, near the intersection of 2nd Avenue, in the Roxboro sector of the Pierrefonds-Roxboro borough. Montreal fire department (SIM) firefighters had already started putting out the blaze when the first police officers arrived on the scene. When the firefighters later inspected the rubble,…
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Why used car prices are going up again

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New data shows used car prices which surged during the pandemic, are now stubbornly remaining there despite recent weakness in the market. According to the highly-watched Manheim Used Vehicle Value Index (which tracks wholesale used-car prices at dealer auctions), used car prices jumped 3.7% in February compared to January of this year, which was also higher than the prior month. Manheim says the 3.7% jump in February was the largest increase for the month on record since a 4.4% rise in February 2009. Manheim says this jump in prices is not typical for the time of year. “The US auto…
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