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Off-lease used cars are flooding market, pushing prices down - New Pittsburgh Courier

Meanwhile, buyer tastes shifted to SUVs and demand for cars faded. The leases accounted for more than three-quarters of Q50 sales. “Most of the dealers in our group are looking to buy used cars. Infiniti likely will take a big depreciation hit on 3-year-old Q50s coming back as used this year. In two or three years, the price of popular used SUVs could fall too, because they’re now being leased in large numbers, Lyman says. The off-lease cars are attracting even customers with the high credit scores, according to Experian. — You can get a great late-model used car for a bargain price. Still, some dealers who sell used cars are skeptical of the falling price forecasts. — Competition from used cars likely will push down the price of new ones. Leasing continued to grow, hitting a record of over 30 percent of sales earlier this year. Data collected by Kelley Blue Book shows leasing dropped to under 30 percent of sales in April after three years of increases. “I was able to get a higher-end car by buying used than by buying new, with my budget,” Winfield says. Since the lightly used cars are entering a market that favors trucks and SUVs, the prices will fall, says Jim Lentz, Toyota’s CEO in North America. — Lease deals are starting to wane as many companies cut back to control the used car supply. Three years ago, automakers leased about 3. 3 million vehicles, just over 23 percent of U. S. sales to individual buyers. Cars were holding their values and automakers expected to sell them at a tidy profit when leases ended in two or three years. Cars were still popular, making up half of the nation’s sales. Car sales are now about 38 percent of the market. It may take four years or so, but prices eventually will stabilize as automakers cut new-car production and reduce leasing. auto industry, about 3. 5 million vehicles will come off lease this year, after 3 million returned last year, according to Automotive Lease Guide. He paid just under $20,000 for the certified pre-owned car with aluminum wheels and a moon roof that stickered around $25,000 when new. Now GM is reallocating incentive spending away from leases toward conventional financing, as new-car sales are expected to back off slightly from last year’s record 17. 5 million. com this week for under $24,000. It originally stickered around $40,000. Nissan says it has plans to manage the influx of Q50s. Lyman predicts used car prices as a percentage of original sticker price will fall for at least the next three years. Like many companies that juiced sales with sweet leases during the past few years, Nissan’s luxury brand now faces a hefty supply of nice, low-mileage used cars at a time when most people want SUVs. Eric Lyman, lead analyst for Automotive Lease Guide, advises consumers now is a good time to lease a car, before leasing cuts become more widespread. “You’re going to have very attractive certified used passenger car payments relative to new passenger cars. Lower used-car prices also can reduce new-car prices because buyers won’t get as much money when they trade cars in, according to Lyman. The number of cars coming off leases each year will grow through at least 2020, when ALG expects more than 4. 1 million lease cars to be returned. Toyota started to reduce leasing in 2015. General Motors cut sales to rental car companies last year to control the used car supply, Chief Financial Officer Chuck Stevens says. Source: newpittsburghcourieronline.com

Cars whose leases are up flood the market, pushing prices down ... - Los Angeles Times

In two or three years, the price of popular used SUVs could fall too, because they're now being leased in large numbers, Lyman said. the car’s sticker price was about $25,000 when new. “Most of the dealers in our group are looking to buy used cars. The off-lease cars are attracting even customers with the high credit scores, according to Experian. Leasing continued to grow, hitting a record of more than 30% of sales earlier this year. Data collected by Kelley Blue Book shows leasing dropped to less than 30% of sales in April after three years of increases. You can get a great late-model used car for a bargain price. Competition from used cars probably will push down the price of new ones. Still, some dealers who sell used cars are skeptical of the falling price forecasts. “I was able to get a higher-end car by buying used than by buying new, with my budget,” Winfield said. Three years ago, automakers leased about 3. 3 million vehicles, just over 23% of U. S. sales to individual buyers. Since the lightly used cars are entering a market that favors trucks and SUVs, the prices will fall, said Jim Lentz, Toyota 's North America chief executive. Lease deals are starting to wane as many companies cut back to control the used-car supply. Cars were holding their values and automakers expected to sell them at a tidy profit when leases ended in two or three years. Cars were still popular, making up half the nation's sales. Car sales are now about 38% of the market. It may take four years or so, but prices eventually will stabilize as automakers cut new-car production and reduce leasing. He paid just under $20,000 for the certified pre-owned car with aluminum wheels and a moon roof. auto industry, about 3. 5 million vehicles will come off lease this year, after 3 million returned last year, according to Automotive Lease Guide. Now GM is reallocating incentive spending away from leases toward conventional financing, as new-car sales are expected to back off slightly from last year's record 17. 5 million. Like many companies that juiced sales with sweet leases during the past few years, Nissan's luxury brand now faces a hefty supply of nice, low-mileage used cars at a time when most people want SUVs. Eric Lyman, lead analyst for Automotive Lease Guide, advises consumers that now is a good time to lease a car, before leasing cuts become more widespread. com this month for less than $24,000. Its original sticker price: about $40,000. Nissan said it has plans to manage the influx of Q50s. Lyman predicts that used-car prices as a percentage of original sticker price will fall for at least the next... “You're going to have very attractive certified used passenger car payments relative to new passenger cars. That's now up to almost 55%. Lower used-car prices also can reduce new-car prices because buyers won't get as much money when they trade cars in, according to Lyman. Toyota started to reduce leasing in 2015. General Motors cut sales to rental car companies last year to control the used-car supply, GM chief financial officer Chuck Stevens said. The number of cars coming off leases each year will grow through at least 2020, when Automotive Lease Guide expects more than 4. 1 million lease cars to be returned. Source: www.latimes.com

SC stays HC order to remove cell towers near Rajasthan prisons - Moneylife

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Latest News

  • Market for pre-owned foreign luxury cars growing in India - ET Auto

    05/29/17 ,via ETAuto.com

    New Delhi, The demand for fancy foreign luxury cars is witnessing a steep rise, with buyers, including from faraway northeast, picking up Lamborghinis, 

  • It's Official. You Can Now Buy Luxury Cars Through a Vending Machine.

    05/17/17 ,via Futurism

    Buying a luxury car in Singapore is as easy as purchasing a can of soda or a candy bar. The Southeast Asian city-state is now the home of the world's largest vehicle vending machine, thanks to pre-owned car retailer Autobahn Motors. Although the

  • Off-lease used cars are flooding market, pushing prices down

    05/29/17 ,via New Pittsburgh Courier

    Like many companies that juiced sales with sweet leases during the past few years, Nissan's luxury brand now faces a hefty supply of nice, low-mileage used cars at a time when most people want SUVs. For the U.S. auto industry, about 3.5 million

  • Cars whose leases are up flood the market, pushing prices down ...

    05/28/17 ,via Los Angeles Times

    In 2014, Infiniti leased more than 28000 Q50 luxury sedans for as little as $329 a month. The leases accounted for more than three-quarters of Q50 sales.

  • These Are The Biggest Mistakes Used Car Buyers Make

    05/05/17 ,via Jalopnik

    Now is a great time to buy a used car, but getting a quality pre-owned model can be a daunting process compared to shopping for a new one. There are a lot more factors to consider to get the right car at the right price. Here are some of the most

Books

  • Exotic Cars

    MotorBooks International. 2017. ISBN: 1616730730,9781616730734. 256 pages.
  • Kiplinger's Personal Finance

    2006. 114 pages.

    The most trustworthy source of information available today on savings and investments, taxes, money management, home ownership and many other personal finance topics.

  • The Millionaire Fastlane

    Viperion Publishing Corp. 2011. ISBN: 9780984358106,0984358102. 336 pages.

    Is the financial plan of mediocrity -- a dream-stealing, soul-sucking dogma known as "The Slowlane" your plan for creating wealth? You know how it goes; it sounds a lil something like this: "Go to school, get a good job, save 10% of your paycheck, buy a used car, cancel the movie channels, quit drinking expensive Starbucks mocha lattes, save and penny-pinch your life away, trust your life-savings to the stock market, and one day, when you are oh, say, 65 years old, you can retire rich." The...

  • Lauren Fix's Guide to Loving Your Car

    Macmillan. 2008. ISBN: 0312370792,9780312370794. 204 pages.

    Describes how to maintain and care for automobiles to maximize their safety and longevity, including choosing the best mechanic, driving tips, and executing emergency repairs.

  • The Financial Physician

    Career PressInc. 2009. ISBN: 1601630980,9781601630988. 224 pages.

    In good times or bad, The Financial Physician is the perfect prescription for everyone's financial future. And these times certainly aren't good! The economy is in free fall, and people everywhere are struggling to survive. Unemployment is at record peaks, business closures are epidemic, and foreclosures have gone through the roof. Lives are being shattered and millions of people are scared to death. They don't know what to do or where to turn. The Financial Physician examines the 25 most...










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