Choosing a car for a teen driver requires making tough financial decisions just as college bills loom on the horizon. The temptation, and often the necessity, is to buy an inexpensive older model. But going too cheap has trade-offs that could jeopardize the safety of your child.
Tag: used cars
NADA Used Car Guide presented a forecast of the used-vehicle market in the U.S., noting the used-vehicle supply is swelling and should reach pre-recession levels by 2017. The used-car market has enjoyed high demand and short supply after the recession causing used-car prices to reach all-time highs.
As the economy has improved, consumer interest in auto purchases has increased. The latest Auto Shoppers Forecast from Ad-ology indicates that while 35.6% of consumers hope to buy a new vehicle this year, only 15.6% are looking into used vehicle purchases. This change in the used vehicle market will lead dealers to modify their promotions to clear their lots.
The July Ad-ology Marketing Forecast includes exclusive data on used car buyers, plus smartphones+online marketing and trends in fast casual promotions. The Ad-ology Marketing Forecast video briefing is designed for strategic marketers: Ad agencies, in-house marketers, media buyers+sellers, business owners. Every month it features industry forecasts and trends from a variety of top sources, plus exclusive data from Ad-ology Research.
Used car prices — already rising — could soar as buyers are driven to seek alternatives due to a predicted shortage of some new vehicles in the wake of the continued disruption of Japanese auto production, experts predict. Price increases at the wholesale level already are being seen for the compact and midsize used cars from Japanese brands and of rival models that would be the closest substitutes for the more popular Japanese new cars. Trade-in values for smaller cars have already been on the rise due to higher gas prices. According to NADA, prices now could shoot up even more in the coming weeks, which is when reduced Japanese auto factory output will begin to really show up as a shortage of the more desirable models on dealers’ lots.