NO MARKET FOR USED CARS

Vanity | 10 January 2003

[MeneMeneTekelUpharsin]

I've noticed that a lot of used vehicles are for sale everywhere. A LOT of nicer later-model vehicles are for sale and they're not moving very fast. SUVs sitting there week after week are NOT selling. Cars are NOT selling. One used car lot near here put out some used Mercedes Benz cars for around $4000 apiece and then moved them off of the lot and now has put them back on the lot (hoping someone would think they sold, I guess). What's the situation elsewhere?

[MeneMeneTekelUpharsin]

Feedback from other locations please?

[weikel]

Um im looking for one if the price is low enough. If your anywhere near Mass freepmail me.

[paltz]

More people prefer to lease their cars now.

[rogers21774]

Why buy used when I can buy new with a $1000 rebate AND 0.9% interest for 60 months?

[rintense]

Most late model used cars have higher payments than new cars. The interest rates for used cars are also generally higher than new. I was looking at used SUVs, but I can lease a new one for far less.

[Dog Gone]

Incentives offered by automakers make buying new irresistable.

[EggsAckley]

Ironic you should post this right now. I'm in the process of shopping for a new minivan. I've noticed several things; most startling is that the prices of the minivans seems to have not gone up much in the past four years, and some seem to have gone DOWN!

The dearlers DO seem to be pretty flexible right now, and I think maybe it's a good time to be buying.

[dyed_in_the_wool]

Same deal. New cars are cheap. And with the new emission rules, a lot of older cars simply won't pass muster.
Look for failed stickers if emissions are required.
In fact, I'm breaking a rule by keeping my 4-year-old car. I don't want to get caught with something that the state says isn't clean and I have to either fix or replace. But it's a Saturn and should be safe...
And I saw a Porsche on sale for $5K recently. Older, but I've always wanted one.

[kellynla]

Soft market on the left coast. If you are buying and have the cash I suggest purchasing at auction. Let someone else take it in the shorts on a new car's depreciation from the point you drive it off the lot...

[widowithfoursons]

Bought a '03 Sentra Vspec for my son at 2.9% no money down. Cheaper than buying used.

[TruthShallSetYouFree]

Kelly Blue Book is an excellent reference site.

[Blood of Tyrants]

Why buy a two year old SUV for $20,000 and pay 12% interest when you can have a NEW one with NO INTEREST?

[montomike]

I have a 96 and it is paid for and I hate car payments. Hopefully, I won't be in the market for a car for awhile and I won't buy a new one unless I'm rich and its a tricked out H2 so I can be just like Arriana Puffington.

[freeper12]

>>Why buy a two year old SUV for $20,000 and pay 12% interest when you can have a NEW one with NO INTEREST?

Even better, buy a 2 year old SUV and pay cash.

The reason that there are so many is because the big-3 have enticed so many to buy a new car, and thus trade in a perfectly good used car...they have had record sales. The 2-3 used car market right now is flooded, and that is where the best buys are. I'll never buy another new car.

[Mo1]

PLEASE SUPPORT FREE REPUBLIC

Donate Here By Secure Server

Or mail checks to
FreeRepublic , LLC
PO BOX 9771
FRESNO, CA 93794
or you can use
PayPal at Jimrob@psnw.com

Become A Monthly Donor
STOP BY AND BUMP THE FUNDRAISER THREAD

[1Old Pro]

It depends on what you're looking for. I'm looking for a late 90's volvo or bmw in upstate ny and I'm not finding a real lot and most are over priced.

I see quite a few used volvos for sale in Massachusetts classifieds though.

[TroutStalker]

I bought another Explorer several months ago for 0% financing; the payments were lower than the one I bought six years ago. Instead of a trade-in, I put my eight year old Saturn SC-2 (87,000 miles) out front and sold it for $4000 cash, my asking price, almost 25% of it's new price.

[Revolting cat!]

Wuz gonna buy used, but it made more sense to buy new, even with the depreciation. Good warranty, good loan terms, 25% down payment on a 0% credit card. (I wish I hadn't had to buy either new or used!)

[upchuck]

Buy used. Pay cash.

[BureaucratusMaximus]

Ironic you should post this right now. I'm in the process of shopping for a new minivan.

Let me give you a sound bit of advice then...DO NOT...I repeat DO NOT buy anything from Dodge/Chrysler/Plymouth. I learned the hard way. The '97 Voyager was my first minivan and my first Dodge...never again.