Tuesday, June 10, 2014

Review of used auto sales::Repossessed Cars for Sale?







Review of used auto sales::Repossessed Cars for Sale?








Rising               consumer               confidence,               an               aging               fleet               and               greater               access               to               credit               are               key               factors               that               will               increase               consumer               demand               for               used               cars               and               trucks               in               2011.

Here               are               five               factors               that               will               boost               used-vehicle               sales               this               year:               Short               Supply               Leads               to               Higher               Prices-               Expect               to               see               a               reduction               in               the               overall               supply               of               used               vehicles               in               2011.

Used-vehicle               auction               prices               should               increase               5               to               10               percent               in               2011.

Fewer               new               vehicles               sold               in               2008               and               2009               resulted               in               fewer               trade-ins.

That               means               a               lower               supply               of               used               vehicles               which               supports               higher               prices.

AuctionNet,               an               auction               transaction               database               that               represents               about               80               percent               of               the               wholesale               market,               reported               year-over-year               increases               of               about               10               percent               on               used-vehicle               prices               for               two-               to               five-year-old               trucks               and               sport               utility               vehicles               and               an               8               percent               increase               for               cars.

From               a               brand               perspective               in               2010,               Ford,               Chrysler               and               General               Motors               all               showed               positive               growth               in               used-car               prices               with               gains               averaging               between               15               to               20               percent               for               two-               to               five-year-old               models,               while               import               brands               improved               on               average               by               about               10               percent.

Along               with               the               mainstream               brands,               luxury               brands               showed               improvement               in               2010               year-over-year               with               high               volume               manufacturers               like               Audi,               BMW,               Cadillac,               Lexus               and               Mercedes-Benz               posting               wholesale               price               increases               at               or               above               10               percent.

The               increase               in               wholesale               prices               in               2010               were               on               top               of               dramatic               wholesale               vehicle               price               increases               of               30               to               38               percent               for               trucks               and               19               percent               for               cars               from               2008               to               2009.
               Rising               Trade-In               Equity               -               Consumers               will               benefit               from               high               trade-in               values               in               2011,               which               will               help               facilitate               a               new-vehicle               purchase.

This               should               have               a               positive               impact               on               consumers               with               trade-ins               of               all               ages,               conditions               and               types               and               aligns               well               with               pent-up               demand               to               replace               vehicles.


               Aging               Fleet               Needs               to               be               Replaced-               Data               on               vehicle               demand,               U.S.

scrappage               rates               and               the               median               age               of               cars               and               trucks               on               the               road               are               pointing               to               consumers               wanting               and               needing               to               replace               their               older               vehicles,               which               data               shows               now               averages               more               than               10               years               old.


               Steady               Flow               of               Credit               -               According               to               a               Federal               Reserve               Board               survey               in               the               fourth               quarter               of               2010,               about               20               percent               of               participating               lenders               reported               an               increased               willingness               to               lend               while               none               reported               a               decreased               willingness               to               make               auto               and               other               consumer               loans.

Better               rates,               higher               loan-to-value               ratios               and               higher               approval               rates               for               most               credit               classes               will               help               facilitate               an               increase               in               lending.

Lenders               will               offer               car               shoppers               attractive               financing               rates               as               they               scramble               to               increase               their               market               share.


               Industry               Managing               Inventory               More               Effectively-               Dealer               investments               in               staffing,               technology               and               improved               inventory               management               on               the               used-vehicle               side               of               operations               resulted               in               an               11               percent               sales               increase               in               2010.

The               restructuring               of               the               auto               industry               over               the               past               three               years               has               created               many               positive               effects               on               how               consumers,               dealers               and               automakers               view               the               used-vehicle               market.

We               are               now               in               an               age               of               a               more               efficient,               more               intelligent               and               a               more               sustainable               business               model               for               the               used-vehicle               market.The               good               news               about               better               trade               values               is               the               car               shopper               will               get               a               better               deal               on               the               car               or               truck               they               are               purchasing.

Make               sure               you               look               online               for               your               best               car               loan               financing               as               well.

OpenRoad               Lending               is               one               site               that               offers               great               rates               on               auto               loans               and               car               refinance               loans               as               well.

The               process               is               simple               and               you               can               have               your               financing               wrapped               up               in               a               few               minutes.






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