Used-Car Prices Dipping Back Down
The Cash for Clunkers program definitely led to higher used-car prices over the past few months. In fact, wholesale prices for used cars hit an all-time high in September; this past December, used-car prices were at a record low.
Last month, overall prices dropped 0.9% after factoring in a seasonal adjustment. This is a welcome correction, analysts say. While wholesale prices don’t instantly correlate to prices on lots, they should have an impact relatively soon.
It seems that alarmists once again sounded warnings because of the September spike after Cash for Clunkers, and one month later we’re seeing a move closer to the norm.
Wholesale used-car prices show first decline since December (USA Today)
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Thank goodness, now maybe they will stop bashing Cash for Clunkers and just get back to business.
This seems to be a housing market? I hope it finds a right price for right used cars, as there is always risk of spending more after buying USED one since nobody would know what happened to the car inside and out.
Hi,
We are a taxi company Hummingbird Cars in London. We provide Airport Transfer service from all london airports.
We are in need of buying cars as our business is growing.But, we are in a sort of confusion as that should we go for used or new cars. So, Can anyone please advice us looking at cost and also other factors which is the best option for us.
http://www.hummingbirdcars.com
Thank you
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