Nearly 20 million vehicles are sold casually in the US each year. Casually would mean C2C (consumer to consumer) or private sale. Dealers account for an additional 40+ million used vehicle sales per annum. A large portion of these vehicles are financed while private sales are generally cash deals. If your vehicle is financed (has a lien) it will be significantly more difficult to sell as potential buyers will want a title in hand in...
Thursday, February 16, 2023
Tuesday, February 14, 2023
Does Canadian History hurt the value of your vehicle? Unless it’s a weekend trip for your kid’s hockey tournament the answer is yes, absolutely! Crossing the border with a vehicle made for US Specifications isn’t the problem. A registration event and or change of ownership in Canada would create a history in CarFax and AutoCheck which reveals Canadian History. Why is that a problem? First, Canada doesn’t have titles they have a “Permit” which is...
Friday, December 16, 2022
CAR THEFTS! They’re growing fast in the USA. Whether for resale or parts, if you want to sell your car after it was stolen, you’re going to take a hit, even if it wasn’t damaged! That’s the way the market is. You just can’t catch a break if someone steals your car so lock it up or you’ll end up being the victim over and over again. First your insurance will probably go up, then,...
Thursday, December 08, 2022
Is it safe to sell my car to Carvana ? Unfortunately the answer is “probably not” and there is a great deal of evidence that would suggest it is very risky to sell your vehicle to Carvana.
If you read what’s happening to Carvana in Michigan, Illinois and Florida they have been shut down by the governments in those respective states (on notice in FL) for failure to make lien payoffs and produce negotiable titles...
Thursday, December 01, 2022
Mileage is the primary indication of wear on a passenger vehicle, so the short answer is yes! Mileage is mutually exclusive of age and will always have a profound impact on value erosion, irrespective of model year. Conversely, a vehicle with exceptionally low mileage will have more value than average with respect to older model years. Other critical factors are the year, make, model, engine type/displacement and driveline configuration. Diesel powered vehicles typically have twice...
Tuesday, November 22, 2022
Is a NADA (National Automobile Dealers Association) Value for my car any good? Will somebody actually pay me that amount?
Here’s the quandary with guidebook values…there are several out there including: NADA, Edmunds, BlackBook and Galves -plus a host of websites that will project a value for your vehicle. Most of these sites even give you an instant cash offer for your vehicle? Now an “instant cash offer” does not always mean what it says…in...
Tuesday, August 23, 2022
Leased Vehicles and Vehicles being sold with lien payoffs are worth less than a vehicle being sold with “title in hand”. It’s a hard fact and we will explain exactly why this is so.
Let’s take the easier one to explain, first. Vehicles that are financed must be paid off “in full” in order for the finance source (your bank) to release the title for your vehicle to the purchasing party. The payoff balance is...
Friday, May 13, 2022
Pre-owned Tesla values are skyrocketing and have reached record levels as fuel prices surge and commuters look for long term relief. Much like COVID19, many Americans believe that a new normal is here with gasoline prices and that we may never see gasoline under $3.00 a gallon in the USA.
Based on vehicle purchases, Pre-owned Tesla prices have surged 10% in Q2 and that trend is expected to increase modestly, flattening with new model releases....
Thursday, January 13, 2022
The party is almost over folks. If you are leasing a vehicle right now the media is still telling you that your vehicle is worth thousands of dollars more than the residual value. Yes, it may be worth more but not as much as it was earlier this year. Hundreds of dollars perhaps, not thousands anymore but the point is moot because all but 3 of the Leasing sources in the USA have made it...
Wednesday, January 05, 2022
This topic is a fun one to write about because it’s so easy to explain. If you are like me, you grew up around parents and grand-parents that smoked cigarettes. Not only did they do this, but literally in the car with kids next to them wearing no seat belts. Car Seat? What was a car seat? Enough “Boomer Talk” already… yeah, smoke odor bothers me. I got enough 2nd hand smoke in my life...
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