New Car Dealers Association San Diego County (NCDA)’s Post

🚗📉 The average used car price dropped to $25,328 in January from $26,505 in January. Despite lower supply, prices are the lowest since 2022. https://bit.ly/42TtbtF #glenviewfinance #subprimefinance #usedcardealer #autofinance #creditbuilder #independentdealer

#fridayfacts and some #weekendwisdom Nasdaq reports: - that prices on used cars are at their lowest point in three years, but still up over 30% from 2019. - the available supply of used cars is up 3%, but still well below "normal", pre-pandemic levels. - interest rates are still quite high for #carloans, which is further deterring people from shopping this market. Here at CarmaCare, we know cars inside and out, from accelerators to wheel bearings, and to us this means two things: 1. Americans are still more inclined to hold onto their cars rather than buy or sell, which means putting more miles on and driving longer. This makes mechanical issues even more likely, and let's be honest, who wants to pay $3,000 unexpectedly at the mechanic??? 2. When evaluating purchasing a used vehicle, more and more people are looking to private sellers (i.e. that "Car for Sale" sign hanging in the windshield of your neighbor's Hyundai 😃). While typically less expensive than buying from a dealership, it's harder to accurately gauge the condition of the engine, transmission, A/C, etc. Either way, it's never been more important to get peace of mind and protect your ride in the event of future #mechanicalbreakdown. Check out how we can help 👉 🚗 💰 🎉 : https://rb.gy/ap9yqc Stay safe (and cool)! #careconomics #auto #carjunkies

https://lnkd.in/dRVKz9FG Vehicle prices continued a downward trend in July, with the new and used car markets both slipping.

Car dealers expect prices and values to continue falling. More than eight out of 10 used car dealers (84%) expect used car prices and values to continue to fall this year, new research shows.

THE DEATH OF PETROL ENGINE CARS? Reduced output from manufacturers during Covid and increased production of EV's means that the supply of used petrol engine cars will decrease permanently. While the exact timing for full adoption of EV's by consumers is not clear, used car retail businesses need to be ready. The attached article by Tom Seymour highlights what will happen. https://lnkd.in/dK3GdvJC

🚗 Been holding off on that car purchase? 🚗 While prices remain generally high, drivers who need to switch up their wheels may have a better chance this year, experts say. 💲 Incentives between April and July are forecast to be the most attractive in the new car market. 💲 Newer used cars, or those up to three years old, are depreciating, because they are directly correlated with the recovered inventory of the new car market. 💲 Cars between five and seven years old are still holding onto pandemic-era values because of low supply, as there are fewer older cars available, the high demand keeps prices elevated. #personalfinance #carbuying #newcar #usedcar

Used car values stabilise after 10.5% fall. The volatility that the used car market faced between October and December 2023 has ended. During this time the price of used cars fell by around £90, According to Cap HPI. #usedcars #carmarket

Richard comments on article "Fundamentals of used car market remain solid - Auto Trader" Saying: "Auto Trader figures from December highlight pockets of growth and improved profitability in the used car markets, however this is not across all age ranges or classes. Cars between 5-10 years old saw a small 0.7% decreases with cars aged between 10 and 15 years seeing a far larger 7.4% dip, with an increase in supply exceeding the demand being highlighted as the cause. However, year on year figures show that 10-15 year old vehicle values are up by 5.3%, suggesting the recent dips are more of an alignment than a concern. Based on these figures and the overall annual trend Auto Trader is predicting a small market uplift in 2024" https://lnkd.in/dV_zb25U Call: 01858 907 123 Email: [email protected] Search: www.forecourtfunding.com Eligibility Request: https://lnkd.in/dXNyNbbd Apply: https://lnkd.in/dpewu6KW

Rosy picture for used car prices as June chalks up a minor 0.1% fall in values - Used car market remains stable in June - Experts predict July may even see a rise - Poor performing EVs drag average used car prices down overall - Top 10 biggest rising and falling used car prices also revealed Thanks to Derren Martin for chatting to me again for a long-overdue video catch up. Watch our chat in the post below and read the latest on the used car market. https://lnkd.in/ewsCgkDH

Last month saw a notable rise in both demand for and transaction volumes of used vehicles, with the average speed of sale also moving in a positive direction. Despite these favourable market conditions, used car prices have fallen for the sixth consecutive month albeit with with February recording the lowest rate of month-on-month contraction since October 2023. Check out our full analysis of used car prices in our latest blog to get the full picture 👇 - - - #usedcar #pricing #carsales #update