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These used cars see largest price hikes in Fresno-Visalia area

These used cars see largest price hikes in Fresno-Visalia area

The Mazda Mazda6 increased in value by 49.2% or $7,995 in the Fresno-Clovis area last month. Image via Mazda

published on August 3, 2021 – 11:50 AM
Written by The Business Journal Staff

The Fresno-Visalia area saw an average used car price increase of 34.4% in June, which equates to a price change of $7,304.

That ranks the Central Valley No. 16 on a list of the 50 most populous US metros for the highest price hikes compared to last  year, according to a new analysis.

According to iSeeCars.com’s latest analysis of over 1.9 million used car sales in June, used car prices on average in the US increased 32.7%, or $7,583, compared to the same period the previous year. This comes after a 26.4% year-over-year increase in May and a 16.8% year-over-year increase in April.

“The microchip shortage has brought historic used car price increases, so much so that some lightly used cars are more expensive than new models,” said iSeeCars Executive Analyst Karl Brauer. “While used car prices are expected to remain elevated for the foreseeable future, we are waiting to see if prices are going to keep rising or if they will start to decline towards pre-microchip shortage levels.”

Some used cars increased as much as 48.1% nationally, with the lowest price change at 11.4%

Sports cars and pickup trucks had the highest price increases, which makes them the worst vehicles to buy and the best vehicles to sell, according to iSeeCars.com.

Small SUVs, hatchbacks and minivans only saw minor price bumps

Here are the vehicles in the Fresno area that saw the greatest price increases by percentage as well as price change compared to June 2020.

  1. 1. Mazda Mazda6; 49.2%; $7,995

2. GMC Sierra 1500; 46.4%; $15,885

3. Acura TLX; 46.2%; $9,685

4. Ram 1500; 45.6%; $13,110

5. Chevrolet Silverado 1500; 39.2%; $ 12,456

Jacksonville, Florida saw the largest price change compared to last year, increasing 39.8% or $8,473. New York City saw the smallest increase at 21.8% or $5,161.

Elderly Tulsa couple warning buyers about used cars, warranty rules

Elderly Tulsa couple warning buyers about used cars, warranty rules

TULSA, Okla. — It could happen to any of us buying a used car: We get it checked out and it looks like everything is good, only to have the vehicle break down shortly after purchase.

An elderly Tulsa couple got an after-market warranty to cover this kind of predicament, but they quickly found out the warranty, and the law didn’t protect them.

For more than a couple of decades, the Minihans drove the same car, until it just wore out and broke down, taking a one-way trip to the salvage yard and stranding them at home.

“Here we sit, day after day,” Emilia Minihan says.

Emilia and Richard finally found a new car a 2009 Suzuki which they bought from a used car lot, along with an extended warranty.

“I was so excited,” Emilia says.

“Oh God, we can go somewhere, but that didn’t last, didn’t last.”

Less than two months later the car overheated.

They had it towed to an authorized mechanic as the warranty company required. After a pressure test, the mechanic diagnosed a blown head gasket, which would be covered, but the warranty company first wanted to confirm it visibly.

The mechanic who inspected the vehicle, J.J. Dickerson says, “[Thewarrantycompany)saidweneedtogetauthorizationfromthecustomertoactuallytearitdownandprovethat’swhatisgoingon”[Thewarrantycompany)saidweneedtogetauthorizationfromthecustomertoactuallytearitdownandprovethat’swhatisgoingon”

What the mechanic found, threw a huge wrench into getting the warranty company to pay for the repair.

“We looked down on the block and there was previous damage a crack from cylinder 1 to cylinder 4, that tried to be repaired with epoxy, and they sold it at a car lot,” Dickerson says.

The warranty company considered the pre-existing damage, and denied the claim, not paying the $950 for the work the shop had already done to tear down the engine as they had required.

After hearing the news, Emilia broke down.

“It’s just not fair, I paid my payments,” she says of the devastating blow for an elderly couple on a fixed income.

“To fix it it’s $6,000. I’m on disability, he’s on social security, we can’t afford to fix it.”

They even had to borrow the $1,500 down payment needed to get a 3-year loan. And more bad news came when they called the used car dealer.

“They said they want nothing to do with it — it’s not their problem.”

The Minihans say that leaves them with no transportation, no money for repairs, and no money for another vehicle.

“It’s like no one will accept responsibility,” Emilia says.

Making it even worse, Emilia says she suffers from diabetes and macular degeneration in one eye, and possibly a blood clot behind it. And Richard suffers from emphysema.

All they can do now, they say, is pray and plead.

“Please do the right thing, you’ve got two senior citizens that have health problems, that can’t go to the doctor, can’t go to the grocery store. We’re not looking for a handout, we just want someone to do the right thing.”

Legally, it appears the warranty company and the used car lot aren’t responsible for the repair, since state law says used cars are sold as-is and previous damage is never covered under a warranty.

We got in touch with the Oklahoma Insurance Department and the Used Motor Vehicle Commission. They still suggest the Minihans file complaints with them, just to make sure no laws or regulations were violated.

For now, Emilia and Richard just want to warn others so what happened to them, doesn’t devastate someone else.

Experts recommend buyers have a used car checked out by a trusted mechanic before buying it — but in this case, not even that would have likely picked up the damage hidden inside the engine.

Anyone who wants to file a complaint about a warranty or used vehicle can use the Oklahoma Insurance Department to complain about a warranty or the Used Motor Vehicle Commission to complain about a used car.

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2019 Chevy Equinox Voted One Of The Best Used Cars For Teens In Study

2019 Chevy Equinox Voted One Of The Best Used Cars For Teens In Study

The Chevy Equinox is one of the best used cars for teenagers, according to the automotive experts over at Kelley Blue Book.

KBB recently published its annual list of the Best Cars For Teens, which comes just as the nation’s students prepare to head back to school in September. The biggest driving factor in whether or not a vehicle is appropriate for teenage drivers in safety, KBB says, as the fatal crash rate per mile driven for 16 to 19-year-olds is nearly three times the rate for drivers ages 20 and over. Other important factors include value for money, fuel economy and technological features.

The 2019 Chevy Equinox LT was placed in the Under $20,000 category in the Best Used Cars For Teens ranking, joining other budget-minded vehicles like the 2019 Subaru Crosstrek, 2018 Mazda CX-5 and 2020 Toyota Corolla. KBB also provided its ideal choices for vehicles priced under $15,000, $10,000 and $5,000, however no GM products were included in these less expensive vehicle categories.

Matt DeLorenzo, senior managing editor at KBB, said there are still plenty of choices for parents looking to get their child a used vehicle on a budget ahead of this year’s back-to-school season.

“Rest assured there are a variety of great cars available at various price points, from affordable brand-new models to used cars for those on a tight budget,” he said. “Our expert editors sorted through the hundreds of different models out there to come up with lists of the best vehicles for student drivers, keeping things like safety, fuel economy, value and more at the top of their minds.”

KBB recommends parents of teenagers avoid buying city cars and other subcompacts, as these vehicles offer minimal crash protection in accidents with trucks, crossovers and SUVs. They also caution against sports cars, as they “may tempt your teenager to drive beyond his or her skill,” as well as big trucks or SUVs due to their immense size and poor fuel economy. High horsepower vehicles should also be off the table, KBB says, as they usually come with higher insurance premiums and “more potential for trouble.”

Subscribe to GM Authority for more Chevy Equinox news, Chevrolet news and around-the-clock General Motors news coverage.

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Car buying demand causes some used cars to cost more than their newest models

Car buying demand causes some used cars to cost more than their newest models

The COVID pandemic is impacting the price of used cars. In some cases, you will pay more for a used car than the newest model.

This record surge in used car prices is due to a global microchip shortage.

iSeeCars latest analysis of more than 470,000 new and used cars from the 2019 and 2020 model years listed for sale, show the price gap between new and used has gotten smaller and in some cases, the used version is more expensive than the newest model. For the Raleigh and Durham metropolitan area, iSeeCars.com found that the used Chrysler 300 costs about 11% more than the new model, a GMC Sierra 1500 used will cost you a little more than $3,900 compared to new.
Courtesy of iSeeCars.com. Full study can be found here.

iSeeCars has a wide range of vehicle listings, filtered geographically, by make, model year, and mileage price, helping you identify not just which cars are best for certain kinds of categories or characteristics, but also which are the best deals when buying.

iSeeCars Executive Analyst, Karl Brauer says, “If you’re a consumer, and you’re shopping right now, your power of negotiation isn’t what it was a year or fifteen months ago.” Adding, “That doesn’t mean you shouldn’t still find a good deal, or try to find a good deal. That’s why we’re trying to help consumers identify not only which cars have gone up the most, but also which cars have gone up the least over the last year.”

Despite the demand being so high and supply low right now for car buying, there are ways you can still get a good deal.

“If you can be more flexible, that’s very helpful in terms of everything from color and options to even model choices. And of course location, you can widen your spectrum and how far you’ll go to get the car, how far you might drive to get the car,” Brauer said.

If you don’t desperately need a new car right now, industry experts say if you can wait at least six months they expect the supply chain on new and used cars to be better.

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Used cars holding value and may even be appreciating

Used cars holding value and may even be appreciating

Used cars in Ireland are now holding their value better than any time in the recent past, DoneDeal claims in its latest Car Price Index.

The car website cites analysis undertaken by the TCD and NUIG Economist Dr Tom Gillespie which shows that limited supply and intense demand has meant that cars are currently holding their value for longer and in some cases even appreciating in value.

According to the newly developed used car price index based on DoneDeal’s car dataset, used car prices have increased by 40% in the year from June 2020 to June 2021.

The increase in prices has outweighed depreciation rates for most vehicles and is believed to be having the greatest impact on the lower end of the market.

The report uses the example of a 2015 registered used car purchased on January 1st 2020 which, it says, may now be worth more now in July 2021, even after adding 20,000 kilometres to the clock.

A pandemic-induced supply shock, which has affected most car markets globally, has been exacerbated here by the compounding effect of Brexit, which has seen car imports falling by up to a third on 2019 levels.

Added to this, the boom in the stock of cars from the latter Celtic Tiger years (2005-2007) is now becoming obsolete.

The retirement of much of that stock is putting pressure on overall car market supply, the report states.

On the demand side, the pandemic is understood to have resulted in increased reliance on cars as more people move out of cities and public transport runs at reduced capacity.

And many people have increased levels of disposable incomes after long periods of saving during the pandemic restrictions.

It’s expected that some of this is making its way into the economy in the form of car sales.

The report concludes that the surging demand based on increased spending power may ease somewhat when public transport returns to regular capacity, and there are more opportunities to spend money on other activities.

“However, if supply takes longer to catch up, this growth in prices may not reverse in the near term. In that scenario, cars may hold their value for longer,” the report states.

Carrollton TX Used Cars Dealer - High-End Preowned Vehicles Inventory Expanded

Carrollton TX Used Cars Dealer – High-End Preowned Vehicles Inventory Expanded

Dallas Autos Direct, a reputable car dealership in Carrollton, Texas that specializes in preowned vehicles, has recently expanded its spring inventory for local buyers.

Carrollton, Texas-based Dallas Autos Direct, a leading luxury dealership that specializes in preowned vehicles, announced the expansion of its spring inventory to include vehicles manufactured by Audi, BMW, Mercedes, Maserati and a number of other well-known brand names. Those seeking high-end quality cars and SUVs at affordable prices are encouraged to consult the company’s website or browse the showroom in person.

More information can be found at https://www.directautosdallas.com

For anyone looking to buy a car, a certified preowned model is an excellent solution. With the new announcement, Dallas Autos Direct is expanding its inventory with a number of additions to its spring lineup of standard, high-end and exotic preowned models.

Founded in 2001, Dallas Autos Direct is recognized for its wide selection of preowned vehicles from European, Asian and domestic manufacturers. With a commitment to customer service, the company prides itself on helping match the right vehicle to the right client, in consideration of lifestyle, budget and manufacturer preferences.

Buyers have the opportunity to evaluate target makes and models online or in person. With a sales team that is determined to make car shopping exciting, rewarding and worry-free, assisting in this process is at the core of the dealership’s mission.

Those who prefer to shop the Dallas Autos Direct website before visiting the dealership can use a number of digital filters to narrow down their search. They can also schedule a test drive online once they have discovered the vehicle that meets their criteria.

The recent unveiling of the company’s state-of-the-art services facility ensures that every model of car, from European to Asian to domestic, receives top quality service from the experienced and knowledgeable technicians.

The company’s finance center helps customers secure budget-friendly payment schedules and can also help customers with all associated inquiries.

Customers purchasing their vehicle from out of state can have it shipped straight to their door, anywhere in the country.

With new additions to their inventory of preowned vehicles, the company is confident that buyers will find what they have been looking for in this year’s spring lineup.

Visit https://www.directautosdallas.com to learn more.

Contact Info:
Name: Hadi
Email: Send Email
Organization: Dallas Autos Direct
Address: 3228 Skylane Drive, Carrollton, TX 75006, United States
Phone: +1-469-441-4065
Website: http://www.directautosdallas.com

Source: PressCable

Release ID: 89039619

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COMTEX_390815434/2773/2021-08-02T20:05:49

Sostegni decree bis, incentives for used cars up to 25 thousand euros

Sostegni decree bis, incentives for used cars up to 25 thousand euros

It’s been talked about for years, but it’s only now: The conversion law of the Sostegni-bis decree has extended car incentives to used models as well. Provided that you cancel one that is at least ten years old and buy €6 worth not more than €25,000 and emit no more than 160g/km of CO2, even if the bigger bonus (€2000) is reserved for hybrid cars Electrical and plug-ins (a small minority, in used cars). For the most popular models, the state contribution drops to €1,000 or €750, depending on the situation (see the paper on the right). And above all, there are still doubts about practicality.

The platform has been operating since September

Thus the rule (Article 73 bis V of Legislative Decree 73/2021) has been in effect since July 25, and therefore all purchases made from that date have the right of facilitation. But the IT platform to reserve the bonus has to be from scratch and won’t be operational until September. The danger is that the click-day effect seen a year ago for the new incentives will be repeated: on launch day, many contracts accumulated in recent weeks could be concentrated, leading to a rapid depletion of the 40 million available.

download…

In the “medium” scenario (in which all beneficiaries are entitled to €1,000), the dowry would be sufficient for only 40,000 contracts. In theory, if funds remain (or there is a refinancing), all purchases made by December 31 qualify (the contract date prevails).

the conditions

The beneficiaries can only be natural persons who buy a second-hand M1 car (practically, a car) in Italy, with an anti-pollution standard of at least €6 and climate-changeable emissions (CO2) within 160 g/km (the documentation of the registration certificate is assumed, therefore The cycle in which this value was measured will not be calculated.)

The vehicle must be of first registration in Italy, thus parallel imports and those whose first owner was resident abroad are excluded. Those already purchased with incentives in effect since March 2019 (those cars that emit up to 60g/km of CO2, mainly hybrid and electric cars) or those that were made available this year for cars that They emit 61 to 135 g/km.

Here’s Which Used Cars Are The Cheapest And Costliest To Insure

Here’s Which Used Cars Are The Cheapest And Costliest To Insure

The 2015 Porsche 918 Spyder high-performance hybrid is the most expensive use car to insure, … [+] according to the website Insure.com.

Los Angeles Times via Getty Images

The used-car market is the hottest thing going these days, with prices having skyrocketed as a record number of buyers are being shut out of the new-vehicle arena due to inventory shortages caused by microprocessor delivery delays and other factors. Prices were up by an average 45.2 percent this past June over the same period a year earlier according to the Consumer Price Index.

Some used cars have been reported to sell for more money than some new models that are in short supply and high demand. Even high-mileage used cars are selling for big bucks, with the average price of models with 100,000 miles on the odometer jumping by over 30 percent in the last year.

One way to cope with high used-car prices would be to sell your existing ride for a tidy sum and ride out the coming months using ride-sharing services or public transportation until supplies catch up and prices drop to a reasonable level. But if that’s not an option, with prices as high as they are you’ll want to make sure long-term ownership costs are reasonable regarding any used vehicle under your consideration, and that includes what you’ll be charged for auto insurance. A recent survey conducted by Insure.com shows that nearly 53 percent of used-car buyers fail to check what they’ll pay for coverage before closing the deal.

Rates are largely charged based upon one’s personal profile, which includes a policyholder’s age, gender, martial status, address, and driving record, but they’re also dependent on which vehicle you own. As is the case with new cars, trucks, and SUVs, family minded models that are driven carefully and are inherently the least inexpensive to repair are the cheapest to cover. The most expensive to insure are luxury cars that cost a small fortune to fix, and muscular high-performance models that are most likely to be driven aggressively.

To help cash-strapped shoppers compare ownership costs, Insure.com has issued lists of the cheapest and most expensive used vehicles to insure, as they do annually do for new models. To no surprise, the same metrics apply to the used market as with factory-fresh rides.

Thus, seven out of the 10 cheapest used cars to insure are all minivans, with average annual rates in the mid-to-low $900 range, while the most expensive models in this regard being posh, pricey, and performance-infused sports cars, with some braking the $5,000 barrier for yearly premiums. We’re featuring the two top-10 lists below, which are based on an average motorist with 100/300/50 liability coverage and a $500 deductible on collision and comprehensive coverage.

“Although used cars can be more affordable than newer models, it’s still important to factor insurance costs into your budget when deciding on which car to purchase,” advises Penny Gusner, senior consumer analyst for Insure.

Otherwise the same advice applies to keeping used car insurance rates low as it does with new-vehicle premiums. Namely, shop around annually to find the best rates given your personal profile, and more frequently to coincide with life-changing events (getting married or divorced, moving, adding or removing drivers, etc). Keep deductibles low to save some cash, and avoid add-on programs like roadside assistance, and be sure to take advantage of every discount to which you’re entitled.

10 Cheapest-to-Insure Used Cars

  1. 2006 Honda Odyssey LX: $ 922
  2. 2006 Chrysler Town & Country: $923
  3. 2006 Dodge Caravan SE: $ 925
  4. 2007 Honda Odyssey LX: $ 936
  5. 2007 Dodge Caravan SE: $ 937
  6. 2007 Chrysler Town & Country: $944
  7. 2008 Honda Odyssey LX: $ 944
  8. 2006 Ford Escape XLS: $956
  9. 2006 Jeep Wrangler SE: $957
  10. 2006 Ford Escape XLS: $958

10 Costliest-to-Insure Cars

  1. 2015 Porsche 918 Spyder: $ 5,239
  2. 2019 Maserati Quattroporte GTS GranSport: $ 5,102
  3. 2018 Maserati Quattroporte GTS GranSport: $ 4,778
  4. 2017 Maserati Quattroporte S: $4,723
  5. 2018 Maserati Gran Turismo MC Centennia: $ 4,623
  6. 2016 Maserati Quattroporte GTS: $ 4,549
  7. 2019 Maserati Ghibli S Q4 GranSport: $4,451
  8. 2015 Maserati Quattroporte GTS: $ 4,388
  9. 2017 Maserati Gran Turismo MC Centennia: $ 4,350
  10. 2016 Maserati Gran Turismo MC Centennia: $ 4,248

You can read the full report here.

Toyota Ghana’s Automark to address market demand for used cars

Toyota Ghana’s Automark to address market demand for used cars

Current and prospective customers of Toyota Ghana Company Ltd (TGCL) who wish to purchase used cars can finally smile with the introduction of Automark.

The creation of the new business unit is in direct response to having a secured platform which deals in such vehicles to support segment of the market with limited budget for new cars.

Vehicles under Automark are certified and covered by a year complimentary service.

Launching the company’s new business unit in Tema, Managing Director of Toyota Ghana, Kohji Yanaka said the new unit will bring convenience.

“Automark is to ensure customers receive convenience and transparency when they buy or sell their used vehicles. The model operates in 11 African countries including South Africa, Mauritius, Kenya but just to name a few”

Explaining this, he indicated the pre-owned sales has two options.

“The first being the Buy Back option, where we give you cash for your used vehicle purchased from Toyota Ghana”

“The second option is the Trade-in offer where a customer returns his used old vehicle with a minimum top up after evaluation for a new one right from the showroom”

According to Kohji Yanaka, mileage and age limit of the vehicles do not affect one’s chances in taking part in such deals.

Under this new business model, the company’s financial partners are expected to assist customers with auto loans.

He used the opportunity to drum home the importance of adhering strictly to Covid-19 protocols.

Head of Sales Operations, Andrew Lamptey said launching of Automark is timely as customers have been exposed to risk of doing business with non-certified dealers for years.

“This is a genuine platform to do these deals. There are times where people who buy from non-certified dealers tend to resort to state agencies like the police due to fraud associated with the deals”

The new platform aims to put vehicles which would have otherwise posed danger to human live in good shape.

The company will help in documentation when it comes to change of ownership.

He also added that individuals or companies are not limited in terms of number of cars they can trade in.

“For instance, if Multimedia Group or any other institution is phasing out its fleet of vehicles purchased from us, this will be a very good avenue to explore”

“Inspection and evaluation will be done, once we agree on the value, the person or institution has the choice to either top up to pick new models or make up for a new one. If you want a cashback, one equally has a choice”

Service Engineer at Toyota Ghana, Isaac Mensah indicated that TGCL is working with insurance companies to offer competitive premiums to customers.

Under Automark, vehicles purchased come with a year complimentary service where Toyota Ghana will offer free servicing.

30% growth YoY in used cars buyers

30% growth YoY in used cars buyers

02 AUGUST 2021 12:26 PM | ENGLISH | MONEY & FINANCES | GENERAL AUDIENCE

There is more demand than supply for new cars, says Amit Jain, CEO & Co-founder, Cardekho.com. There has been a 30% growth YoY in used car buyers and India is getting a better penetration in used car industry, he adds. According to him, online platforms still being used for discovery of cars and there is a momentum towards changing the car faster. He expects to see 15% CAGR for used car industry over next 5 years. What are CarDekho’s plans on expansion and how do they plan to capitalise on the trend? Watch the full interview here for more details into the industry.

Nigel Hurley Podcast

CarShop CEO Nigel Hurley talks profits, used cars and the pingdemic – Car Dealer Magazine

This time on the Car Dealer Podcast James and Rebecca are joined by CEO of CarShop Nigel Hurley as they discuss the stories of the week.

Updates from the London Stock Exchange were keeping the team busy this week and we get Hurley’s view on what’s been announced.

Meanwhile, with news that some used cars have raised in value by £8,000 in three months we ask the car supermarket boss for his thoughts on this, as well as getting hold of stock at this time.

Hurley also shared his experiences of going into isolation following catching Covid, and then having to go straight back into another period of self-isolation!

You can listen now to the Car Dealer Podcast on Spotify, Apple or Google Podcasts, or by clicking play below.

You can also read the stories mentioned in the show, and they can all be found below.

If you’d like to be guest judge on a future show, you can get in touch with the team by emailing [email protected].

water, sea, light

Fred Farah Knows All About Used Cars

Fred (Fayez) Farah learned how the used car buying process can go while operating his own dealership, North Star Motors. That market comes with a variety of advantages when compared to buying a new car, even past the initial savings most people already know about.  With all these benefits, buying a used car can end up being a more cost-effective and buyer-friendly way to get the vehicle you want.

Vehicle Variety

One of the bigger advantages offered by the used car market is variety. Compared to the market for new cars, the used market offers significantly more models for buyers to choose from.

Fayez Farah often has people looking for older car models, which can only be found at used dealerships. “If you’re looking for something more specific, you’re more likely to find it on a used lot,” he explained. The used car market also offers you the chance to get closer to the specific car you want in terms of things like color and features.

Vehicle Certification

Used cars are usually certified for inspection and quality, helping you know you’re making a purchase that should be useful for at least a few years. New cars do not come with these same certifications and though things should be fine, it’s often not known what recalls may pop up with new vehicle models. Fred Farah offers this certification at his dealership and he has seen how it helps customers make more informed decisions.

Vehicle Data

New cars shouldn’t need to be repaired for awhile once you drive them off the lot, but there’s also a lack of knowledge about what may go wrong in the future. With used cars, vehicle history data is available through websites like AutoCheck, giving you the chance to look at what a car you’re interested in has been through with it’s other drivers. Fayez Farah provides this information to his customers when they make their purchase and this is now a common practice at many dealerships across the country.

Online Info

In addition to reports, used cars tend to have more information available about them online. This gives people a variety of additional opinions to go off of that a new vehicle may not offer.  A quick Google search of the year, make, and model of used car that you might buy will allow you to see the experiences other people have had with the vehicle.

It also allows you to look up a dealership and see how they describe the vehicle, something that Fred Farah does for his customers. “People will have questions about what they read online and you can tell them if it’s something common or not, things like that just cause there’s more info out there,” he said.

Vehicle Registration

Whether you are purchasing a new or used car, you’ll have to get the vehicle that you purchased registered, but the age of your car could determine how much those registration fees cost. Fayez Farah operates his car dealership out of Texas, where drivers are charged a flat rate plus local fees to register their vehicle. Other states, like New Jersey, factor in things like age and weight to determine the cost of registration.

Additional Fees

When people buy a new car, a variety of fees can be added on to the initial purchase, including the cost of shipping. Fred Farah knows this firsthand from operating his own dealership. Used cars usually do not carry these hidden fees, which allows you to get a car at or near the price you expected to pay walking into the dealership.

The Cost of Insurance

Fayez Farah also knows that used cars usually come with lower insurance rates. Those rates are determined by a car’s value and since used cars have already depreciated in value, those insurance rates will come at a lower cost. This can be especially beneficial for new or younger drivers, who already face higher insurance rates due to their level of experience on the road.

The used car market offers buyers a lot of freedom to make the purchase that’s right for them. Fred Farah hopes that this information will allow you to make smart choices and get a car that you can drive for years to come, while saving their money.

Fred (Fayez) Farah is the owner of North Star Motors, an independent car dealer in Houston, Texas and Okley Construction.

Published July 31st, 2021

Some used cars now cost more than new

Some used cars now cost more than new

COLUMBUS (WCMH) — Finally, some good news when it comes to the computer chip shortage that’s caused a shortage of pickup trucks and SUVs in 2021.

The chips are starting to come in, and Ford tells the Detroit Free Press it is beginning to fix its backlog.

That’s welcome news to dealers and shoppers. Many car dealer lots look empty these days, with just a handful of pickups for sale where hundreds are normally lined up.

It’s been a struggle for dealership general manager Tim Sander, who’s even been buying vehicles to keep his lot stocked.

“I don’t get frustrated,” Sander said. “But it’s different. It’s very different from what everybody’s used to.”

It’s been a tough few months for buyers of both new and used trucks because you can’t find many new ones, and prices on the used ones are high.

Toughest to find are new F-150s and work vans.

But dealers are hoping a new program from Ford starts to ease that crunch.

“They’ve come up with a wonderful program, where if you order from Ford you will get bumped to the front of the line,” Sander said.

Sander says Ford will now give buyers who order a truck priority over dealer orders, so you can get one in a couple of months.

Otherwise, you will have to take what’s available at dealers’ lots.

“If you need one today, you’re going to have to be flexible,” Sander said.

But Ford says it is now starting to supply chips to its thousands of unfinished pickups, parked at Kentucky Speedway and lots in Kansas City and Michigan.

What about the new Ford Bronco, this year’s hottest vehicle?

It seems everyone wants a Bronco right now, Ford’s popular new challenger to the Jeep Wrangler.

But full size Broncos are now back-ordered until next spring, and it has nothing to do with the chip shortage.

You’ll have better luck with the smaller Bronco Sport.

Sander Ford sees the chip shortage improving as we head into fall, but Sander said pre-ordering a truck is the best way to get a new truck. That way, you don’t waste your money.

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CarGurus launches platform for dealers to buy used cars online from consumers

CarGurus launches platform for dealers to buy used cars online from consumers

CARY, N.C. –

When CarGurus purchased a majority stake in CarOffer this winter, one of the benefits to the deal was that it could give CarGurus dealer partners another digital avenue to source used inventory.

That capability came to fruition Friday with the launch of CarGurus Instant Max Cash Offer, a CarOffer-powered platform that allows dealers to acquire used cars online from consumers.

And for many, the timing perhaps couldn’t be better, with an auto industry grasping for used-car supply that has run dry amid the fallout from a chip shortage, new-car production delays and high demand.

CarGurus Instant Max Cash Offer, which utilizes the CarOffer Buying Matrix platform to facilitate consumer car sales to dealers, will launch first in Florida, Massachusetts and Texas. Consumers there can go to the “Sell My Car” page on the CarGurus website and type in the vehicle information to receive offers from the dealer network.

If the consumer chooses to move forward with the offer, CarGurus picks up the vehicle (at the location designated by the consumer) through a “white glove” concierge service, inspects the vehicle at that location and delivers it to the dealer’s lot. The consumer is paid once the car passes the inspection.

Dealers who are in the CarGurus/CarOffer network can utilize this tool by filling out CarOffer’s Buying Matrix.

“We are headed towards a digital world where shoppers and dealers are both buying and selling vehicles online, and CarGurus is in a prime position to help both do so with the technology-first approach that we are known for in the industry,” CarGurus president and chief operating officer Sam Zales said in a news release.

“CarGurus Instant Max Cash Offer will not only let consumers sell their car online from the comfort of their home while securing the top offer from thousands of dealerships, but will also help those dealerships gain a competitive position amid this new digital retail environment and level the playing field with the industry’s largest consumer vehicle retail buyers,” Zales said.

Alternative ways to source used vehicles continue to rise, especially as some retail and wholesale lines blur and as digital transacting becomes more common.

Just last week, Drivably announced a new online community that allows consumers to instantly sell their cars to dealers, who bid on the vehicles through an online auction.

And in June, ACV debuted a platform that gives dealer groups and commercial partners a way to host closed sales for select audiences. ACV PRIVATE MARKETPLACES will first be available for large dealership groups with multiple locations, and then for commercial consignors looking for a way to host closed auction sales.

Best Used Cars for Uber and Lyft Drivers

Best Used Cars for Uber and Lyft Drivers

Consumer Reports has no financial relationship with advertisers on this site.

Drivers for ride-hailing services such as Uber and Lyft have had a difficult few years. Their earnings fell as demand for travel evaporated, and those who did drive during the early days of the pandemic did so at great risk. Now, even as demand for ride-hailing increases, rising gas prices are cutting further into their profits.

Before the pandemic, we spoke with Harry Campbell, a ride-share consultant at therideshareguy.com, who told Consumer Reports that drivers put as much as 1,000 miles a week on their cars. For that kind of heavy-duty driving, the things many people want in a car—reliability, fuel efficiency, comfort and safety—become critical.

We also looked at new information from the personal finance data service ValuePenguin, which estimates that a ride-share driver’s expenses increase by 25 percent and profits dip by 12 percent for every four gas fill-ups in a month. We also studied online forums to find out the challenges Uber and Lyft drivers face. Then we looked at the results of our Annual Auto Surveys to find out which affordable used cars are best at meeting those challenges. We didn’t recommend any new cars because they depreciate too quickly to make much financial sense for ride-share drivers.

Some of these models carry our new Green Choice designation, which highlights vehicles with the cleanest emissions. (You can read more about Green Choice here.)

Of course, potential ride-share drivers should check out their local laws, which can put stricter requirements on licensing and car choices. Using a vehicle for ride-sharing could also void or reduce its warranty coverage. And insurance costs could go up if you use your car for ride sharing.

If need to replace your car and you drive for a ride-sharing service, take a look at our list.

Best Overall: 2014+ Toyota Prius

Ride-share drivers on forums like uberpeople.net and ridesharecentral.com praise the Prius. First and foremost is the extremely good fuel economy.

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“It makes more sense to have a high-mpg vehicle the more you drive, because your number one expense is going to be gas,” Campbell says.

The Prius’ reliability ratings in our surveys are consistently well above average. And it offers up to 27.4 cubic feet of room for luggage behind the rear seats, according to the Environmental Protection Agency.

We recommend a 2014 or newer model because of its optional forward-collision warning and automatic emergency braking. Leatherette seats are available and preferred because they retain fewer odors and are easier to clean after the inevitable spills and messes that passengers create.

See the complete Toyota Prius road test, reliability, and pricing.

Best Sedan: 2015+ Toyota Camry

We praised the Toyota Camry for its “generous room and a comfortable ride,” which could help drivers get better ratings from riders. Forward-collision warning and automatic emergency braking became available starting in 2015, the same year the Camry aced Insurance Institute for Highway Safety crash tests. Our Annual Surveys show much-better-than-average reliability, and fuel-economy ratings are similarly impressive even if you don’t get the hybrid version.

See the complete Toyota Camry road test, reliability, and pricing.

Best Affordable Car: 2016+ Kia Soul

Thanks to its boxy design, this little Kia has a surprising amount of room for passengers, and its distinctive look makes it easy to spot in a sea of sedans and SUVs. CR praised the Soul for its “abundant interior space and super-easy access,” some of the very qualities that make for a good ride-share experience. Despite its affordable price, the Soul has options like leather seats.

In addition, forward-collision warning became available starting in 2016.

CR recommends active safety features for all drivers, but they can be especially important for ride-share drivers.

“Drivers are putting a lot of miles on their car, and they do get into accidents,” Campbell says. “You’re protecting yourself but also your passengers.”

See the complete Kia Soul road test, reliability, and pricing.

Best for Bad Weather: 2015+ Honda CR-V

Drivers of all-wheel-drive cars tend to make more money when it snows “because there’s a lot of surge pricing,” Campbell says. That’s when fares go up because of the increased demand for rides.

The CR-V is one of the better models among small SUVs because of its roomy cabin, good fuel economy, competent handling, rock-solid reliability, and top safety scores. For drivers in the snow belt, the CR-V has particular appeal with all-wheel drive and additional ground clearance. Just make sure to invest in winter tires, if they’re appropriate.

See the complete Honda CR-V road test, reliability, and pricing.

Best for Uber XL and Lyft Plus: 2014+ Honda Odyssey

Services like Uber XL and Lyft Plus pay drivers more when riders request a vehicle that can seat six or more passengers. Our pick is the Odyssey, which can fit seven or eight passengers depending on how it’s configured.

Like all vehicles on this list, it offers top safety scores and earns praise in our survey. In this case, remember that the Odyssey’s fuel economy is only 19 mpg city—so it might not be as cost-effective to operate if all the seats aren’t regularly filled.

See the complete Honda Odyssey road test, reliability, and pricing.

Best for Uber Select and Lyft Premier: 2013+ Lexus ES

In some cities, ride-share services like Uber Select and Lyft Premier offer riders the choice of an upscale car. Riders pay more and drivers make more—although Campbell says that these services tend to draw fewer riders (primarily businesspeople). The cars that qualify for premium ride-sharing vary from city to city, but the Lexus ES is usually on the list.

Our survey respondents praised the ES for its reliability and comfort, which are paramount virtues for ride-share drivers. While the drivers on forums like uberpeople.net and ridesharecentral.com caution against spending money on a new car simply to use for ride-sharing, a late-model Lexus may make sense for those who want to drive a comfortable car and also make some extra money on the side.

See the complete Lexus ES road test, reliability, and pricing.

Which used cars South Africans searched for this year

Which used cars South Africans searched for this year

AutoTrader has released its Mid-Year Car Industry Report for 2021, looking at the search habits of South Africans for the first six months of the year. In it, AutoTrader offers insights in terms of the most popular used cars in the country, which models and brands are highly coveted, as well as the rising interest in electric vehicles.

While the extensive report is available to download as a PDF here, we’ve taken a look through and highlighted some of the most interesting and pertinent statistics below.

For example, an all-time record high of over 319 million online vehicle searches were conducted during the first six months of the year, representing growth of 44 percent year-on-year for AutoTrader.

Much of this can be attributed to the pandemic, which has also seen ecommerce flourish during the past 18 months too, while traditional brick-and-mortar establishments have suffered.

Looking at the Demand segment of the report, which lists the top 10 searched for brands, models and variants, it looks like German and Japanese vehicles have dominated over the first half of 2021.

What people are searching for

To that end, the Top 10 searched for brands are:

  1. BMW – 40.45 million
  2. Mercedes-Benz – 38.13 million
  3. Volkswagen – 37.92 million
  4. Toyota – 35.38 million
  5. Audi – 22.64 million
  6. Ford – 20.51 million
  7. Land Rover – 11.65 million
  8. Hyundai – 9.28 million
  9. Nissan – 8.10Volkswagen Golf R  million
  10. Porsche – 7.86 million

As for car models, the Top 10 is as follows:

  1. Toyota Hilux – 11.46 million
  2. Volkswagen Golf – 9.55 million
  3. Mercedes-Benz C Class – 9.02 million
  4. BMW 3 Series – 8.28 million
  5. Ford Ranger – 7.52 million
  6. Volkswagen Polo – 6.53 million
  7. BMW 1 Series – 4.86 million
  8. Toyota Fortuner – 4.38 million
  9. BMX X5 – 3.55 million
  10. Audi A3 – 3.2 million

Last is variants, which looks at different year models within a specific brand, where VW and BMW feature heavily:

  1. Volkswagen Golf GTI – 1.63 million
  2. Volkswagen Polo GTI – 1.43 million
  3. Mercedes-AMG C Class C63 – 1.40 million
  4. Volkswagen Golf R – 1.19 million
  5. Ford Ranger Wildtrak – 713 071
  6. BMW 3 Series 320d – 605 535
  7. Mercedes-Benz A Class A45 – 575 599
  8. Toyota Hilux 3.0D4D – 488 497
  9. Volkswagen Polo 1.0TSI – 474 943
  10. BMW 1 Series m135i – 469 281

Running through the above lists, it appears as if those who own a VW vehicle and are wanting to sell it, will likely have some interest on marketplaces like AutoTrader. Whether you get what you want for it is another question altogether.

The outlook for EVs

One of the other interesting elements that AutoTrader looked at, outside of used cars, was that of electric vehicles (EVs), which despite several hurdles including lack of infrastructure and an unstable power grid, has still seen plenty of searches.

“We’re only in the starting blocks when it comes to EV adoption – in 2020, according to the latest EV Green Paper by the South African government, 92 electric vehicles were sold in the country. But this is set to change! In total, over 285,000 searches for EVs were conducted in the first six months of 2021 on AutoTrader, indicating an increase of over 211% vs the same time a year ago (albeit off a low base). A 234% increase in EV Consumer Advert Views was recorded, dominated by the BMW i3, Porsche Taycan and Jaguar I-Pace,” highlights AutoTrader CEO, George Mienie.

“Bearing in mind the importance of this trend and our belief that the impact of renewable energy on EV uptake needs to be addressed, we have devoted a substantial section of this report to EVs,” he adds.

Diving into said data, while there isn’t a plentiful number of EVs available on the market, a handful of models are garnering serious interest.

To that end the BMW i3 leads the charge with 111 450 searches, followed by the Porsche Taycan and Jaguar I-PACE at 104 452 and 50 240 respectively. The same three models feature among the most viewed EVs on AutoTrader.

The maketplace was also able to share some insights regarding EVs in SA, specifically highlighting some barriers that are hindering adoption, despite interest in the technology from those in the 25 to 24 and 35 to 44 age brackets.

“As mentioned in the previous electric vehicle survey, EVs in South Africa currently attract a 25% import tax vs a 18% tax for Internal Combustion Engine vehicles, this is excluding other taxes such as ad valorem tax. Higher taxes and the lack of incentives has aided in driving the cost of EVs up to an unattainable level for consumers,” the report outlines.

It therefore looks like EVs only stand a chance in South Africa if regulators and government improve infrastructure and incentivise ownership.

Insure.com Reports Highest and Lowest Insurance Rates for Used Cars

Insure.com Reports Highest and Lowest Insurance Rates for Used Cars

FOSTER CITY, Calif., July 29, 2021 /PRNewswire/ — Drivers buy used cars to save money, but if they purchase certain models, they may get sticker shock when they find out how much it costs to insure them. To help prevent consumers from financially driving off a cliff due to high insurance rates, Insure.com, a comprehensive resource for insurance information, releases a report listing the 2006 to 2020 car models that cost the most and least to insure.

The guide and tool come at a time when used car sales and prices are at record highs, so budgeting for the full cost of ownership may be more important than ever. Early results of an ongoing Insure survey show that nearly 53% of those who purchase used cars fail to consider the cost of insurance in their car-buying decision.

The new report, Buying and insuring a used car: Most and least expensive 2006 to 2020 models, finds that budget conscious drivers can choose used car models such as Honda, Chrysler, and Dodge to save on insurance, which have rates ranging from $922 to $958 per year.

The top five least-expensive used car models to insure in 2021:

  • 2006 Honda Odyssey LX: $922
  • 2006 Chrysler Town & Country: $923
  • 2006 Dodge Caravan SE: $925
  • 2007 Honda Odyssey LX: $936
  • 2007 Dodge Caravan SE: $937

At the other end of the spectrum, Maserati holds nine of the top ten slots in the most-expensive used cars to insure—with rates ranging from $4,248 to $5,102, while Porsche tops the list with an average annual premium of $5,239.

The top five most expensive used car models to insure in 2021:

  • 2015 Porsche 918 Spyder: $5,239
  • 2019 Maserati Quattroporte GTS GranSpor: $5,102
  • 2018 Maserati Quattroporte GTS Granspor: $4,778
  • 2017 Maserati Quattroporte S: $4,723
  • 2018 Maserati Gran Turismo MC Centennia: $4,623

All cars were evaluated based on 100/300/50 coverage with a $500 deductible.

The new Insure guide offers comprehensive information on how to purchase a used car, including strategies for researching cars, making a decision, getting an inspection, and negotiating with dealerships.

“Although used cars can be more affordable than newer models, it’s still important to factor insurance costs into your budget when deciding on which car to purchase,” advises Penny Gusner, senior consumer analyst for Insure. “Our interactive used car insurance tool can help drivers view the rates they may pay on different car models and we explain the car insurance rate factors that can impact premiums.”

Gusner  is available to comment on how drivers can make the best used car choice by considering insurance costs when making a purchase decision and taking advantage of an auto insurance advisor tool.

About Insure.com
Insure is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a leader in providing performance marketplace technologies and services to the financial services and home services industries. QuinStreet is a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. Insure is a member of QuinStreet’s expert research and publishing division.

For more than 35 years, Insure has served as a comprehensive consumer resource for insurance information, offering expert advice, articles, news, and tools about car, home, health, and life insurance. Consumers have access to free car insurance quotes and guidance on finding the right insurance policy, saving money and solving claims problems.

Twitter: @InsureCom
Facebook: https://www.facebook.com/Insure

Media Contact
Jacqueline Leppla
Senior Director of Public Relations
QuinStreet, Inc
Direct +1 775 321 3608
Email: [email protected]
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SOURCE Insure.com

Why local auto dealers are seeing a major price surge in used cars | Prior Lake

Why local auto dealers are seeing a major price surge in used cars | Prior Lake

If you’re thinking of buying a sweet new ride this summer using stimulus check savings, you might want to rethink your purchase because new and used car prices are soaring nationwide due to a global microchip shortage.

The devastating chip shortage is affecting automakers and dealerships all over the world including the Twin Cities metro leaving dealers and consumers struggling to get their hands on vehicles.

According to experts and industry leaders, the shortage of computer chips — which modern cars need in order to operate everything from infotainment systems to special safety features and more — is being caused in large part by the pandemic, after auto factories briefly shut down production.

Low interest rates, high savings and government stimulus payments have also boosted demand.

Ford, General Motors and Chevrolet are among the hardest-hit manufacturers, according to data by Automotive News. Ford has shut down production of 325,000 vehicles including nearly 110,000 units of the popular F-Series pickup truck. GM and Stellantis had to abandon 278,000 and 252,000 vehicles, respectively. Following the F-Series, the most impacted models are the Jeep Cherokee, which shut down 98,584 units, Chevrolet Equinox lost 81,833 units, Chevy Malibu lost 56,929 units and the Ford Explorer, which had to forfeit 46,766 units.

“It’s hard to get anything with this chip shortage on all the vehicles, these new vehicles haven’t been coming out,” said Michael Sjulstad, sales manager of Velishek Auto Sales in Prior Lake. “We’re sitting anywhere from 85 to 100 vehicles on our lot when we usually have 130. Everybody is trying to buy inventory right now but the prices are so high it’s hard to get your hands on them.”

Prices through the roofUsed car prices climbed a staggering 30% while new car and truck prices climbed about 5% over the past year through June according to the Consumer Price Index report from the U.S. Department of Labor.

Rocky Dehmlow, owner of Rod Dehmlow Auto Sales & Services in Prior Lake, said the surge in prices is affecting sales due to not having enough product to sell and used car prices being too high. He said most of the used autos he sells are in the $23,000 to $28,000 range. A used car that would normally cost $20,000 is now higher in value by $4,000 to $6,000.

“I’m also just running low on inventory,” Dehmlow said. “We have about 25% of what we normally would have in stock. This is bad for the consumer as well because people are having to pay way too much for a vehicle. It is what it is if you have to get one, but much like the housing industry, it’s a little bit frustrating. You feel like you’re paying premium plus money.”

Joe Heim, store manager of Drive Appeal in Shakopee, has also seen an increase in prices over the course of the pandemic

“The average price for a new car is over $30,000 and $20,000 to $25,000 for a used car. A couple months ago sales smashed the national average record for average price of a used car,” said Heim.

Dehmlow added that the microchip shortage is worsened by a strong demand for chip manufacturers to supply chips for personal electronics — such as phones and laptops — as more people worked from home during the pandemic.

Thinking outside the boxWith this said, local auto dealers are thinking outside the box trying to sell anything they can. Some dealers are calling and emailing former customers offering to buy back cars they sold a year or two earlier because demand for used vehicles is as strong as it is for new cars.

“We’re just trying to buy vehicles that we can. We’ve been buying more vehicles off of customers that call and want to sell their vehicle outright,” said Sjulstad. “We’re just trying to keep the inventory as much as we can and trying to see what we can get.”

Dehmlow is also looking into different ways to add and sell more inventory at his dealership.

“We’re working harder to get vehicles in trade when someone does come in to buy a vehicle,” said Dehmlow. “We’re really trying all different things, trying to handle a little bit more specialty stuff than what we usually do and something a little different that not every dealer has got.”

Despite soaring prices, auto dealers and analysts say it’s still a seller’s market.

“It’s not really affecting us, it’s affecting the customers because they’re paying more money because the values in cars are getting higher. We just go with what the market is,” said Jose Rubio, owner of Quality Motors Sales in Jordan.

Heim, at Drive Appeal in Shakopee, said costumers are more willing to jump the gun and buy whatever inventory is available.

“People are willing to pull the trigger a lot quicker if you have something they want because they might not be there tomorrow,” said Heim. “I would say find what you want if you need a new or used car but make sure you’re not overpaying because we won’t try and pay the ridiculous high prices and then make it up selling the car overpriced. We’re still trying to maintain reasonable prices. It’s just tough.”

Is there a silver lining?Sjulstad, at Velishek Auto Sales in Prior Lake, said a return to normalcy rests on the microchip manufacturers.

“It all depends when they can start making new chips for Chevy, Ford, Toyotas, etc. As soon as they start making some chips I think there will possibly be some more inventory,” said Sjulstad.

Dehmlow said he is hopeful that within the next 60 or 90 days things will start to turn around a little and start looking like it should again.

“We’re telling people about this every time they come in when they’re asking why we don’t have any cars in stock,” said Dehmlow. “I’m telling people, if you don’t absolutely have to buy a car then wait it out a little bit, you’ll get a better deal.”

Rubio said some customers have no choice but to buy a car even though they know they are expensive at the moment.

“I’m just trying to keep my prices the best I can so people can buy, that’s all we can do right now,” said Rubio.

Although Dehmlow said he thinks things will turn around within the next few months, some analysts and local dealers say it could stretch until 2022, but it will eventually resolve — it’s just a matter of when.

“I heard it can be up to a year before the microchip shortage is resolved,” said Heim. “However, the new car manufacturers have been still building the cars and setting them aside waiting for the microchips. So, I feel when they catch up they’re going to have to implant a lot of new vehicles to make room for 2022 models. I guess the outlook would be that it will kind of crush the high used car values that’ll drop pretty rapidly because people will be able to buy a brand new car for not a whole lot more than what they can get a used one for.”

As far as solutions go in the meantime, Heim said there really are none at the moment, all they can do is hope for the best for both auto dealers and consumers.

“Our hands are tied and it’s a competitive business. So, everybody is looking to do the same thing by getting cars as cheap as they can,” he said. “It’s just a matter of sourcing and being smart about what you pick and choose and not overpaying. That’s all we can do at the moment. The solution really isn’t in our control at all.”

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NOTEBOOK – ONE GOOD READ: Why used cars are so pricey right now

BY KATHY A. BOLTEN, Senior Staff Writer

Wednesday, July 28, 2021 11:23 AM

We got a call the other day from someone at a local auto dealership asking whether we were interested in selling our decade-old truck. The sight-unseen offer was higher than Kelley Blue Book’s suggested resale price. It made us wonder why such an attractive offer. Zachery Crockett of the Hustle supplied an answer. Since last summer, the average price of a used car has soared 45%, Crockett writes. Used vehicles accounted for one-third of all price inflation in the U.S. over the past year. Why? Because new vehicles contain more than 100 semiconductor chips that power everything from infotainment systems to transmissions and most things in between. When the pandemic hit, new vehicle sales dropped more than 50%, causing automakers to halt orders of semiconductors, writes Crockett. Demand for new vehicles picked back up but now there’s a shortage of semiconductor chips because manufacturers are backlogged with orders for other goods like smartphones and laptops. Crockett writes that the lead time to get the chips is now five to seven months. By the way, we didn’t sell the truck. There aren’t many new ones on the lots with which to replace it.

There’s never been a worse time than right now to buy a used car in Canada

There’s never been a worse time than right now to buy a used car in Canada

One of the least pleasant aspects of buying a new car is being lectured by used car zealots about what a fool you are. There’s always at least one person there to lambaste you for your spendthrift ways. They have their speeches at the ready. To hear these folks talk, you’d think that there was nothing else in the world they enjoyed more than deflating the joy of a driver who’s just bought a new car.

They’ll say:

“You know, the moment you drive a new car off the lot, a coven of devils will beset you and torment you and also the car will depreciate by up to 40 per cent.”

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“Used cars are cheaper. You could spend the money you save on a three-star all-inclusive holiday where you can drink your weight in cheap rum.”

“If you buy a new car, hailstones –­ each weighing about a hundred pounds ­­– will fall upon it, but, if you buy a used car you will pay less in insurance and angels will sing.”

For some reason they’re never convinced by the argument, “Yeah, but I like new cars.”

Well, guess what, smarties? Those days are over.

There has never been a worse time for Canadians to buy a used car. Never in recorded history. In the United States, the average price for a used car with a little under 110,000 kms on it is $31,426 Canadian. For months now, used vehicles have been selling for the same cost as new ones.

Meanwhile, the thirst for used automobiles remains unquenched. Canadian drivers who have spent their lives swearing by the used car mantra – buying cars that are between one to three years old – remain ardent in their quests for previously owned wheels. After all, they say, such used vehicles are cheaper, there’s no depreciation, and you still get that new car feel.

Like a comet, a blue moon or an eclipse, the current rush for used cars is a rare event and the product of an extraordinary confluence of events. There is less new stock available because when the pandemic hit, manufacturers shut down production for two months. According to Associated Canadian Car Rental Operators, at that time Canadian rental companies unloaded 30 to 40 per cent of their vehicles and flooded the market. Now that the domestic travel has rebounded, Global News reported, these same companies are holding on to their fleets. The biggest factor in pushing up prices is the continued shortage of microchips. There are fewer shiny new cars rolling into the market.

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This leaves those who can’t wait and need to buy a car now – those who can’t wait a few months until the madness passes and production returns to normal – getting used and abused.

What the used car crowd doesn’t always understand is that new car buyers come in many shapes and rationales. My first means of transportation, as a kid, was bicycle and horse. It was public transit exclusively for years, especially when I lived in big cities like London. Today, if I lived in a city that had decent public transit, I probably wouldn’t own a car. I don’t. I live in Toronto.

I didn’t buy a new car until I was in my forties. I couldn’t afford one. I drove old beaters. When our kids arrived, however, I wanted the reliability and safety of a new car (okay, a Dodge Grand Caravan). The new sticker price was just a little more expensive than the used. I knew then, as I know now, that this was all part of the dealership leveraging buyers into going for a new car. I knew and I didn’t care.

I bought my most recent ride new as well. Safety and reliability were a factor, but the big reason was I simply wanted a new car. I’m a car guy and I felt like I’d earned it. I can’t defend this stance. It’s crass, shallow and materialistic. It says a lot about the kind of person I am. Make of it what you will. All I know is that, when I go for a drive, I’m the kind of person who is driving a new car.

Used car zealots should not lose heart. This used car world-turned-upside-down can’t last forever. It will right itself and soon, you can sing your sanctimonious songs once again. In the meantime, close your eyes and think of the depreciation.

School Bus

Discussing the upcoming fall semester, Ontario Premier Doug Ford told the media, “We’re going to make sure the kids are going back to school in September. They’re going to be in class. I want to repeat that they’re going back. Even if I have to hop in that school bus and drive it myself.”

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It’s hard to know what is more disturbing about Ford’s statement. That he thinks all you have to do is “hop” in a school bus and “drive it,” that he thinks driving a school bus “myself” is somehow unique (as if most people drive school buses in tandem) or that he thinks he can fit all two million Ontario students in a single bus. Has Ford driven a Ford lately?

Shopping for a new car? Check out the Globe Drive Build and Price Tool to see the latest discounts, rebates and rates on new cars, trucks and SUVs. Click here to get your price.

Mortenson takes over at Quality Used Cars

Mortenson takes over at Quality Used Cars

Quality Used Cars has a new owner at the helm starting this month, following the retirement of long-time owner Mark Ash.

Though the ownership is new, it’s a familiar face — Chad Mortenson has taken over, having already served as a salesman and detailer at the business since 2005.

The business has been in California since 1999. Mortenson said Ash had been thinking ahead to what might happen after he reached retirement age since around a year and a half ago, so Mortenson and his wife, Nicole, decided to make the purchase official July 15.

“(Ash) was like ‘Man, if I retire, you’re going to have to find something else to do,’ and I thought ‘Well, I don’t really want to,’ so I just bought it from him,” Mortenson said Monday.

Since mid-July, Mortenson said he’s been doing much of the same work he already was — detailing and working in his usual day-to-day capacity. Despite the change of hands, things will pretty much stay exactly the way they have been in the 16 years he’s been around, he said, save for a more expanded social media presence.

The nice thing about being around as long as he has is that the new role doesn’t really seem all that new, Mortenson said.

“Feels like the same old thing, really,” Mortenson said. “…It’s the same thing, pretty much, except now I write the checks, and I’m responsible for making sure the place makes money.”

Mortenson said he had good experience selling cars while Ash was in charge, and went along with him to vehicle auctions to buy and sell cars, so he already had a good idea of what things look like for the person in charge.

Mortenson said he’s glad to be able to keep a business in the community that serves as a place where residents can find a familiar face.

“There’s probably a lot of people in town that have either bought a car from me or (Ash), or both, and now at least they’ll know that someone local’s staying and keeping this open, even though he is retired,” Mortenson said.

Mortenson said he expects to offer the same level of service they always have, since he’s learned the business from Ash during his time there so far. Mortenson said he hopes that community members who have been there before will keep coming back with that in mind, especially those who might have worked with Ash and had a good experience doing it.

“(And) I just wanted to let the local community know that the same guy’s still around, you know what I mean?” Mortenson said. “(Ash) may have retired, but most (people) probably dealt with me anyway. Even if they’ve come and ended up talking to (Ash) at some point, they probably sat down across from me and did the paperwork, because I’ve been a part of it for that long. I just think that’s kind of going to be a big deal going forward.”

Mortenson said he wanted to invite the community to visit the business’ website at qualityusedcarsllc.com or visit the Facebook page at Quality Used Cars.

EXCLUSIVE: US Exported N140billion Used Cars To Nigeria Between January, March 2021 – Report

EXCLUSIVE: US Exported N140billion Used Cars To Nigeria Between January, March 2021 – Report

The United States of America in the first quarter of 2021 exported used vehicles worth N140.2billion to Nigeria, according to the National Bureau of Statistics report.

SaharaReporters obtained the NBS Foreign Trade in Goods report, which stated this, showing the US as one of the five top countries which exported goods to Nigeria with a growth rate of 18% from the previous quarter.



The four others are; China, India, Netherlands and Belgium.

The report noted that the top five “major import trading partners for Nigeria and their percentage share in the first quarter of 2021” showed that China had 29.34%; Netherlands 10.60%; United States 8.88%; India 8.60% and Belgium 3.48%.

China undoubtedly from the report has the largest share of imported goods to Nigeria for the quarter.

The report stated, “Used vehicles, worth N140.2billion, were imported from the United States. Motorcycles worth N30.98billion and N86.67 billion from China and India, and Machines for reception of voice, worth N75.1 billion and N21.8billion from China and Hong-Kong. Other imports under this category were parts of Machinery for working rubber or plastics worth N67.8billion imported from India.

“The export component of this trade stood at N2,907.21billion, representing 29.79% of the total trade while import was valued at N6,850billion representing 70.21%. The higher level of imports over exports resulted in a trade deficit (in goods) of – N3,943.45billion. The value of Crude oil export stood at N1,929.83 billion representing 66.38% of the total export recorded in Q1, 2021, while non –crude oil export accounted for 33.62% of the total export.”

The trade report further noted that Asia had the largest exports to Nigeria, having a total of 48%, while America is third with 12.08%.

“Import trade classified by region showed Asia as the dominant originating region with a record of N3,319.4billion or 48.45%. This was followed by Europe with N2,471.6billion or 36.08%, America N827.8billion or 12.08%, Africa N183.4billion or 2.68% and Oceania N48.5billion or 0.71%. Out of the value recorded for Africa, imports from ECOWAS countries accounted for N20.8 billion,” the trade report said.

As Americans Flock To Used Cars, Small Cap Value Stocks See Rise

As Americans Flock To Used Cars, Small Cap Value Stocks See Rise

While many people stayed home throughout the course of the pandemic, more and more drivers are returning to the roads, leading to a surge in used car sales and a benefit to some small-cap value stocks, reports The Wall Street Journal.

Americans currently are car-shopping in near-record numbers, which, along with the computer-chip shortage, has driven the prices of used cars sky-high. Used car prices were up 34% in June over the same time last year.

Dealerships are reaping the rewards of increased demand, as seen with dealership giant AutoNation (AN).

“Demand continues to outpace supply for new vehicles. We expect this to continue into 2022 due to consumers’ preference for personal transportation coupled with lower interest rates,” AutoNation CEO Mike Jackson told Yahoo! Finance.

AutoNation recently reported earnings that entirely overshot economists’ estimates. Net sales were $6.98 billion versus an anticipated $6.07 billion, with diluted earnings per share (EPS) at $4.38 versus an anticipated $2.58.

AutoNation’s stock is currently up 112.4% for the past year, a meteoric rise seen by many such value stocks over the past several months.

Finding the Value in Small Caps with AVUV

With the economy in full-on recovery mode, U.S. small-cap value stocks stand to benefit significantly, as increased spending flows into various consumer-oriented industries. AutoNation is one such small-cap value company.

American Century Investments, partnering with Avantis Investments, offers the Avantis U.S. Small Cap Value ETF (AVUV), an ETF that invests in companies with low valuation but high profitability ratios.

Wealthy Buyers Prefer Used Cars Due To Their Immediate Availability

Wealthy Buyers Prefer Used Cars Due To Their Immediate Availability

The pandemic seems to have changed the mindset of wealthy car owners into the notion that they don’t want to wait months for their luxury vehicles or supercars to arrive. Instead, while their financial status has mostly improved thanks to less spending during lockdowns, they show a greater interest in used cars due to their immediate availability, causing prices to soar.

Read Also: The Average Used Car Is Listed For Over $25,000 – Up $5,000 From A Year Ago

According to Edmunds, June saw an almost 30% increase in used car prices compared to last year. In the used car market, supercars like the limited-edition McLaren 765LT are selling 40% higher than their original MSRP, showing that people want them and want them now.

As reported by Automotive News Europe, Rolls-Royce has a six-month waiting list on new orders – even though the company states that microchip shortage hasn’t affected production. The unlimited customization options offered by the company and the ability for new customers to spec their handbuilt cars according to their taste, seem to not matter that much anymore, with more and more people opting for pristine-condition used vehicles.

Gerry Spahn, head of communications for Rolls-Royce in North America, admitted that around 75% of their sales come from the Provenance pre-owned program, marking a significant increase from the previous 33%. By acquiring used Rolls-Royce models, buyers also avoid depreciation – a Wraith loses 20% of its value when it leaves the dealership and 40% after five years of ownership.

And it’s not only Rolls-Royce that is affected by this situation. Between 2016 and 2021, rival luxury brand Bentley saw a 53% increase in used car sales, while new car sales grew by 34% in the same period.

Pre-owned programs like the “Ferrari Approved” include careful multi-point inspection of the car by certified technicians making sure everything is on par with the company’s high standards. They also include warranty and roadside assistance for greater peace of mind.

Besides being beneficial for the used car buyer, this strategy is also good for the brand. Statistics show that it brings more new people in, with a large percentage of them becoming new car buyers for their next purchase. For luxury brands like Bentley, the certified pre-owned program also works as an entry point for younger buyers due to the lower prices.

It remains to be seen if this trend will keep up in the future or if the post-pandemic world will get back to what we considered normal.

The Fastest-Selling New and Used Cars in June

The Fastest-Selling New and Used Cars in June

  • The Toyota RAV4 compact SUV is the fastest-selling new vehicle, and it is joined by seven additional Toyota models
  • The fastest-selling new car list is a mix of two extremes: large gas guzzlers and hybrids 
  • Sporty and hybrid/electric vehicles dominate fastest-selling used car list

The latest iSeeCars.com analysis found that the fastest-selling new car during the month of June was the Toyota RAV4, with its hybrid and plug-in variants also making the SUV-dominant list. The fastest-selling used car is the Tesla Model 3, with the Tesla Model S and the Tesla Model X also making a list that consists mainly of sports cars and alternative-fuel vehicles.

Here’s how much used car prices have gone up in each state

Analyzing over one million new and used cars sold in June 2021, iSeeCars.com found that overall, the average new car takes 41.7 days to sell and the average used car takes 34.5 days to sell. New cars are selling nearly a week faster than in May, when the average was 47.1 days, and used cars are selling slightly faster compared to 34.8 days during the same time period. 

“The microchip shortage continues to impact new and used car sales as production interruptions lower the new car and used car supply and dealers are forced to maintain tight inventory levels,” said iSeeCars Executive Analyst Karl Brauer. “Full-size SUVs have been in high demand since the beginning of the year, and while that trend has continued, we’re also seeing newly introduced alternative-fuel vehicles in high demand.”

Some used vehicles now cost more than original sticker price

Fastest-Selling New Cars

iSeeCars identified the top 20 fastest-selling new cars, which sell 2.6 to 4.8 times faster than the average new vehicle and average 12.3 days on dealers’ lots. SUVs comprise the vast majority of the the top 20 list, and hybrid vehicles account for five models.  

Top 20 Fastest-Selling New Vehicles in June 2021 – iSeeCars Study
Rank Vehicle Average Days to Sell  Average Price
1 Toyota RAV4 9.5 $31,557
2 Kia Telluride 10.5 $44,144
3 Toyota Tacoma 10.6 $38,764
4 Cadillac Escalade 11.1 $99,950
5 Toyota RAV4 Hybrid 11.1 $35,705
6 Cadillac Escalade ESV 11.3 $102,197
7 Toyota 4Runner 11.6 $46,902
8 Toyota RAV4 Prime 12.0 $44,226
9 Kia Carnival 12.6 $41,976
10 Lexus IS 350 13.0 $48,643
11 Hyundai Tucson Hybrid 13.1 $33,653
12 GMC Yukon 13.6 $74,120
13 Hyundai Palisade 13.8 $46,003
14 Subaru Ascent 14.0 $43,320
15 Toyota Sienna 14.5 $43,738
16 Toyota Highlander Hybrid 14.5 $47,737
17 Toyota Tundra 14.6 $50,193
18 Chevrolet Tahoe 14.7 $65,622
19 Land Rover Defender 14.8 $74,843
20 GMC Yukon XL 15.9 $77,227
Average for All New Vehicles 41.7 $38,350

The fastest-selling new vehicle is the Toyota RAV4, which returns to the list after a three month hiatus. It’s joined by its hybrid variants, the Toyota RAV4 Hybrid in fifth and the plug-in Toyota RAV4 Prime in eighth. “The Toyota RAV4 is the best-selling SUV in America, and demand has grown while supply has contracted,” said Brauer. “The RAV4 line has also seen renewed interest thanks to the success of the RAV4 Prime, which had its best-ever monthly sales in June, leading some dealers to mark up its price due to high demand, and the RAV4 Hybrid, which Toyotota has struggled to keep in stock since its debut in 2016.”

These were the fastest-selling new and used cars in May

Five additional Toyotas and one vehicle from its Lexus luxury division make the list, including the Tacoma pickup truck, the 4Runner midsize SUV, the Sienna hybrid minivan, the Lexus IS 350 sedan, the Highlander Hybrid midsize SUV, and the Tundra pickup truck. ”While Toyota has better managed the microchip shortage than most automakers, it maintains a tight inventory, especially for its most popular models,” said Brauer. “Despite its lowered inventory, Toyota remains better stocked than competitors, giving consumers an opportunity to choose Toyota over other brands.”

The Kia Telluride midsize SUV maintains its position as a hot-seller for the sixth consecutive month, while the all-new Kia Carnival minivan makes the list for the third consecutive month. “Kia continues to struggle to meet demand for the Telluride two years after its launch, and dealers continue to charge above MSRP because consumers are willing to pay a premium for this vehicle,” said Brauer. “The Carnival multipurpose vehicle functions like a minivan with sliding doors and three spacious rows of seats, but also takes design cues from the Telluride SUV and has been able to capitalize on the SUV’s success.” The Hyundai Palisade, a similar vehicle to the Telluride that’s produced by the Hyundai-Kia automotive group, also makes the list. “Hyundai recently stopped its lease deals and promotional APR offers due to the SUV’s limited inventory,” said Brauer.

The full-size Cadillac Escalade and its extended variant, the Escalade ESV, appear on the fastest-selling list of new cars for the fifth consecutive month. “The Escalade was redesigned for 2021 to make the premium SUV even more luxurious and technologically advanced, helping it dominate the full-size SUV segment as it captures over half of the segment’s market share,” said Brauer.

Three additional redesigned full-size SUVs from General Motors make the list, including the GMC Yukon, the Chevrolet Tahoe, and the GMC Yukon XL. “General Motors has seen a sales surge for these full-size SUVs, including a 126 percent increase in the GMC Yukon and a 74.3 percent increase for the Chevrolet Tahoe,” said Brauer. “Consumer demand remains strong for full-size SUVs despite the record increases in gas prices.”

The recently released Hyundai Tucson Hybrid, which arrived in dealerships in May, also makes the list. “Hyundai had its best-ever sales month in June, and the critically-acclaimed all-new Hyundai Tucson Hybrid helped contribute to that success,” said Brauer.  

Two additional SUVs make their debut on the list: the Subaru Ascent and the Land Rover Defender. “Land Rover has had trouble fulfilling orders for the Defender amid the microchip shortage, and production was recently shut down,” said Brauer. “Similarly, production for the Subaru Ascent recently had to halt for two weeks, creating inventory shortages.”

Fastest-Selling Used Vehicles

iSeeCars also analyzed the top 20 fastest-selling used vehicles. The average used car takes 34.5 days to sell, while the top 20 fastest-selling vehicles average 24.8 days and sell 1.3 to 2.0 times faster than the average used vehicle. The list of fastest-selling used vehicles includes a mix of vehicle types led by sporty and alternative-fuel vehicles.

Top 20 Fastest-Selling Used Vehicles in June 2021- iSeeCars Study
Rank Vehicle Average Days to Sell  Average Price
1 Tesla Model 3 17.6 $45,653
2 MINI Convertible 21.5 $27,398
3 Mazda MX-5 Miata 21.7 $26,043
4 Honda Clarity Plug-In Hybrid 22.7 $23,035
5 Toyota Highlander Hybrid 23.4 $39,566
6 Honda Insight 23.4 $23,857
7 Tesla Model S 24.0 $61,326
8 BMW 4 Series 24.1 $40,922
9 Chevrolet Corvette 24.2 $75,407
10 Kia Telluride 24.3 $45,173
11 Honda Civic (Hatchback) 24.6 $24,541
12 Chevrolet Camaro 24.7 $35,637
13 Honda Civic (Sedan) 25.1 $20,504
14 Hyundai Palisade 25.3 $44,976
15 Fiat 500x 25.6 $16,469
16 Volkswagen Golf GTI 26.2 $23,990
17 Tesla Model X 26.6 $72,835
18 BMW 2 Series 26.7 $29,910
19 Chevrolet Camaro 26.8 $36,132
20 Subaru WRX 26.8 $30,615
Average for All Used Vehicles 34.5 $30,514

The Tesla Model 3 is the fastest-selling used vehicle and makes the list for the fourth consecutive month. “The Tesla Model 3 has remained popular since its high-profile debut, thanks to impressive technology and performance, plus a relatively affordable price compared to Tesla’s earlier vehicles,” said Brauer. “Used Model 3’s are so popular that consumers are willing to purchase these used cars that were more expensive than new versions of the vehicle.” Two additional Teslas make the list including the Model S and the Model X. “Tesla continues to see record sales growth for its new vehicles, and that popularity extends to the used car market.”

Eight sports cars and sporty sedans make the list including the MINI Convertible, the Mazda MX-5 Miata, both the coupe and convertible versions of the Chevrolet Camaro, the Chevrolet Corvette, the BMW 4 Series, the BMW 2 Series, and the Subaru WRX. Brauer commented, “Sports cars were a popular vehicle segment throughout the pandemic, and their popularity has continued as consumers have a heightened appreciation for living life to the fullest.”

The Kia Telluride also makes the list, and it is joined by a similar vehicle from the same manufacturer, the Hyundai Palisade. “These vehicles debuted for the 2020 model year and are in limited supply in both the new and used car marketplace,” said Brauer. “Given the markup and scarcity of new Kia Tellurides, used versions are appealing to consumers unable to locate a new model.”

Three hybrid vehicles make the list: the Honda Clarity Plug-In Hybrid, the Toyota Highlander Hybrid, and the Honda Insight. “The Honda Clarity debuted in 2018, while the Honda Insight debuted in 2019, so used versions are just now becoming available,” said Brauer. “Hybrid vehicles have been in high demand both as new and used cars, and that demand has intensified as gas prices continue to rise.”   

“Car buyers who are making a new or used car purchase might have difficulty finding the most in-demand vehicles, and may end up paying a premium for them in the used car marketplace,” said Brauer. “Vehicle inventory is expected to remain tight for the remainder of the year, so consumers who are in the market for one of these fast sellers will need to act quickly when they see their target car for sale.”

Fastest-Selling Cars By City  

iSeeCars analyzed the data geographically to find the fastest-selling new cars in the top 50 most populous metro areas.

Fastest-Selling New and Used Cars in June By City
City New Vehicle Days to Sell (Average) Used Vehicle Days to Sell (Average)
Albuquerque-Santa Fe, NM Nissan Sentra 8.4 Honda Civic 17.7
Atlanta, GA Toyota RAV4 5.1 Tesla Model 3 10.4
Austin, TX Cadillac Escalade 2.2 Mitsubishi Outlander 12.8
Baltimore, MD Hyundai Tucson Hybrid 6.8 Volkswagen Golf GTI 17.0
Birmingham, AL Toyota RAV4 4.6 Honda Civic 21.0
Boston, MA-Manchester, NH Toyota 4Runner 8.9 MINI Countryman 16.8
Charlotte, NC Toyota Tacoma 4.3 Jaguar F-Pace 11.9
Chicago, IL Toyota RAV4 Hybrid 7.6 Honda Accord Hybrid 17.6
Cincinnati, OH Toyota Sienna 5.0 Volkswagen Jetta 17.1
Cleveland-Akron (Canton), OH Volkswagen Taos 7.9 BMW X1 18.3
Columbus, OH Lexus RX 350 5.3 Subaru Forester 13.4
Dallas-Ft. Worth, TX Toyota 4Runner 3.5 Tesla Model 3 11.6
Denver, CO Kia Telluride 5.6 Chevrolet Corvette 16.1
Detroit, MI Cadillac Escalade 5.6 Mitsubishi Outlander 16.7
Fresno-Visalia, CA Chevrolet Traverse 14.2 Toyota C-Hr 20.3
Grand Rapids-Kalamazoo, MI Toyota Tacoma 6.0 Kia Sorento 17.8
Greensboro-Winston Salem, NC Kia Seltos 5.0 Honda Civic 17.0
Greenville-Spartanburg, SC Hyundai Tucson Hybrid 12.5 Honda Civic 17.8
Harrisburg-Lancaster-York, PA Toyota RAV4 Hybrid 3.8 Honda HR-V 23.2
Hartford & New Haven, CT Subaru Outback 5.3 Hyundai Santa Fe 21.0
Houston, TX Toyota RAV4 5.5 BMW 4 Series 10.4
Indianapolis, IN Kia Telluride 1.3 GMC Yukon 22.7
Jacksonville, FL Chevrolet Traverse 4.8 Dodge Durango 18.1
Kansas City, MO Subaru Crosstrek 3.6 Toyota 4Runner 19.7
Las Vegas, NV Hyundai Palisade 3.4 Toyota RAV4 13.8
Los Angeles, CA GMC Yukon XL 3.1 MINI Convertible 9.6
Memphis, TN Hyundai Palisade 6.7 Nissan Sentra 17.8
Miami-Ft. Lauderdale, FL Hyundai Palisade 9.7 Maserati Levante 16.7
Milwaukee, WI Jeep Wrangler 4xe 5.7 Subaru Legacy 15.6
Minneapolis-St. Paul, MN Land Rover Defender 8.1 Subaru WRX 16.3
Nashville, TN Chevrolet Traverse 5.9 Chevrolet Corvette 15.4
New York, NY Chevrolet Colorado 5.6 Tesla Model 3 15.1
Norfolk-Portsmouth-Newport News,VA Kia Carnival 6.3 Nissan Pathfinder 18.0
Oklahoma City, OK Toyota RAV4 8.1 Subaru Outback 13.7
Orlando-Daytona Beach, FL Toyota Tacoma 5.4 Honda Civic 16.6
Philadelphia, PA Toyota RAV4 5.9 Chevrolet Camaro 16.6
Phoenix, AZ Subaru Crosstrek 3.8 Tesla Model 3 9.1
Pittsburgh, PA Subaru Ascent 3.4 Honda Civic 23.3
Portland, OR Toyota Corolla 4.0 Subaru Ascent 15.3
Raleigh-Durham (Fayetteville), NC Hyundai Palisade 7.1 Honda Accord Hybrid 15.5
Sacramento-Stockton-Modesto, CA Toyota RAV4 2.6 Chevrolet Bolt EV 9.5
Salt Lake City, UT Chevrolet Trailblazer 3.0 Volkswagen Atlas 18.6
San Antonio, TX Toyota RAV4 9.2 Gmc Yukon XL 15.7
San Diego, CA Toyota Tundra 8.2 Toyota Prius Prime 13.1
San Francisco-Oakland-San Jose, CA Chevrolet Traverse 12.1 Chevrolet Bolt EV 11.2
Seattle-Tacoma, WA Toyota RAV4 5.1 Chevrolet Bolt EV 14.6
St. Louis, MO Toyota 4Runner 5.4 GMC Yukon 26.6
Tampa-St Petersburg (Sarasota), FL Toyota Tacoma 2.7 Kia Niro 16.5
Washington, DC (Hagerstown, MD) Nissan Sentra 8.4 Chevrolet Bolt EV 9.0
West Palm Beach-Ft. Pierce, FL Toyota RAV4 5.1 Chevrolet Camaro 13.3

The fastest-selling new vehicle in the most cities is the Toyota RAV4 in eight cities, and the fastest-selling used vehicle is the Honda Civic in six. 

More from iSeeCars.com:

Methodology

iSeeCars.com analyzed over one million new and used car sales (model years 2016-2020 for used cars) from June 2021. The number of days that each car was listed for sale on iSeeCars.com was aggregated at the model level, and the average days on market for each was mathematically modeled. Heavy-duty vehicles, models no longer in production prior to the 2021 model year, and low-volume models were excluded from further analysis.

About iSeeCars.com

iSeeCars.com is a car search engine that helps shoppers find the best car deals by providing key insights and valuable resources, like the iSeeCars free VIN check reports. iSeeCars.com has saved users over $303 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of new cars and used cars.

This article, The Fastest-Selling New and Used Cars in June, originally appeared on iSeeCars.com