Used cars to remain valuable through 2014 + more
#1
10-23-2012, 08:33 AM
Used cars to remain valuable through 2014 + more
Selling your ride? Used cars to remain valuable through 2014
Updated: Now 
2012 03:17 AM Space Time EDT
By Richard Read
2012 03:17 AM Space Time EDTBy Richard Read
If you have plans to sell your current ride anytime soon, we have good news and great news. 
The good news is that your used car isn't depreciating very much, and it's not likely to do so for the next couple of years.
That prediction comes from the National Automobile Dealers Association, which says that used cars are likely to retain a good portion of their value through at least 2014.
As an example, NADA gives the example of a used car worth $12,000. Over 2012, that vehicle is likely to depreciate by about 15.7%, or $1,884. In 2014, that same $12,000 used vehicle would likely slip $1,992 in value, which isn't much more.
What's more: NADA's depreciation figures are just averages. Certain types of cars -- namely, hybrids and smaller fuel-efficient models -- may hold their value far better.
The great news? This means that you should have many more options when it comes to replacing your ride. As we mentioned earlier this month, low depreciation rates mean that the price difference between new cars and used cars can be pretty slim -- especially when dealer incentives are taken into consideration. So, for example, instead of trading in your used car for another used model, you might be able to score a brand-new car for about the same price.
Why are cars retaining their values
As we've discussed several times before, today's used car values are high for a number of reasons. Chief among them:
As we've discussed several times before, today's used car values are high for a number of reasons. Chief among them:
1. Car sales bottomed out during the Great Recession. Fewer cars were made during that time, and fewer were bought, too. That has put a dent in the availability of used models, and as we all remember from Economics 101, when supply is reduced and demand stays constant, prices edge higher.
2. Although the economy is still shaky, the recession is over, and car sales are on the rise. However, NADA points out that automakers aren't overproducing vehicles like they did before the crash. That limits the inventory of new cars, which boosts new-car values and also trickles over to keep used cars from depreciating too much.
3. Consumers are holding onto their vehicles for longer than ever. That's not just because of economic concerns, it's also because cars are made better than they once were. Ultimately, that decreases the availability of used cars, causing their value to rise.
http://www.myfoxorlando.com/story/19...e-through-2014
Last edited by Space; 10-23-2012 at 08:41 AM.
#2
10-23-2012, 08:46 AM
Below is one site to check the Value(s) of your Monte Carlo or other riders ?
Official Kelley Blue Book New Car and Used Car Prices and Values
Click above ^ Link to check
================================
2012 Kelley Blue Book Brand Image Awards
The people have spoken. Find out which brands and vehicles took home the hardware.
View the winners < click
Official Kelley Blue Book New Car and Used Car Prices and Values
Click above ^ Link to check ================================
2012 Kelley Blue Book Brand Image Awards
The people have spoken. Find out which brands and vehicles took home the hardware.
View the winners < click
#4
10-23-2012, 09:04 AM
Hi `Mike, that's a super price you are asking for your Camaro.
Your ride has taken it's biggest hit, and now it just comes down to condition...I think you could get $3,500 easy 4 it..You can't get to many nice rides for that price 4-$ure
that would give a owner so much `fun & Bang 4 the $'s...
#6
10-23-2012, 10:44 AM
`Mike, I think `Mike wants 2 keep his Camaro a Sleeper...I think ? ~>
If he had the Z badges, everyone would wanta race him 
I like the above one...(Poor Man's 4 passenger `Vette) I like this want 2 
#7
10-23-2012, 11:21 AM
Some people think the book is the law. I guess they don't realize it all comes down to the condition. I don't look at the mileage as a negitive point if the vehicle is well maintained. My father in laws truck had almost 300000 when he traded it in.
#8
10-23-2012, 11:39 AM
Those are some nice Z28s Space & it cracks me up when dealers go buy it, they say ours is worth so much & than there like urs is worth this on trade but were gonna give u half that lol, wen i was trying to trade for the intimidator they were asking over book & my gto is worth more than it & they offered me less than half my trade in value for it said they wouldnt be able to sell it yet the dealer i traded it to sold it in 4 days
& it cracks me up when dealers go buy it, they say ours is worth so much & than there like urs is worth this on trade but were gonna give u half that lol, wen i was trying to trade for the intimidator they were asking over book & my gto is worth more than it & they offered me less than half my trade in value for it said they wouldnt be able to sell it yet the dealer i traded it to sold it in 4 days
#9
10-23-2012, 04:05 PM
Hi `Mike,
The auto books like Kelly, NADA, black book etc are just a guide for dealers.....(They are in business to make $'s) & not give theres rides away ~> Unless they are hurting & have to much inventory & low funds to operate..
If I had a super ride, I would sell it privately to get top $'s.
I know easier said then done, but if a person had a Top condition ride, they would be crazy to trade it to a dealer unless the dealer was going to step up & give you much more then any of their auto books...
The only problem is the tax difference that you have to pay without a trade...
================================================== ===============
Like if you had a $2oK ride & sold it outright yourself, & you went & got a $30K ride, your would have to pay $1200 more in the taxes you lost from selling your own ride
a total tax of $1800 on a $30K car 
.(but if a dealer would give you $20K for your ride (instead of you selling it yourself), your would only have to pay $600)
Here in Florida the state tax is 6%...
I hope I explained that `OK
I got confuzed <~ LOL ~> typ'in it LOL
The auto books like Kelly, NADA, black book etc are just a guide for dealers.....(They are in business to make $'s) & not give theres rides away ~> Unless they are hurting & have to much inventory & low funds to operate..
If I had a super ride, I would sell it privately to get top $'s.
I know easier said then done, but if a person had a Top condition ride, they would be crazy to trade it to a dealer unless the dealer was going to step up & give you much more then any of their auto books...
The only problem is the tax difference that you have to pay without a trade...
================================================== ===============
Like if you had a $2oK ride & sold it outright yourself, & you went & got a $30K ride, your would have to pay $1200 more in the taxes you lost from selling your own ride
a total tax of $1800 on a $30K car .(but if a dealer would give you $20K for your ride (instead of you selling it yourself), your would only have to pay $600)Here in Florida the state tax is 6%...
I hope I explained that `OK
I got confuzed <~ LOL ~> typ'in it LOL
Last edited by Space; 10-23-2012 at 04:10 PM.
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