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Used Car Market

All articles tagged with #used car market

Autopian Editor Abandons Dream Project, Buys 1993 Jeep for $1,700
automotive2 hours ago

Autopian Editor Abandons Dream Project, Buys 1993 Jeep for $1,700

David Tracy, editor of The Autopian, purchased a low-mileage 1993 Jeep Grand Cherokee for $1,700 after deciding his long-term vehicle project was unfeasible. The decision followed a week where he published an article praising early 1993 Jeeps as the best value in the brand. Although he initially found a 1993 model listed for $2,300 with minor damage, he ultimately secured a different unit for a lower price. The purchase occurred despite his wife’s request for him to focus on home repairs, highlighting a conflict between his professional passion for automotive content and domestic responsibilities.

CarMax Offers $76,000 for Rare Green-Wrapped Cybertruck, Surprising Utah Owner
automotive1 month ago

CarMax Offers $76,000 for Rare Green-Wrapped Cybertruck, Surprising Utah Owner

A Utah man brought a forest-green wrapped Tesla Cybertruck with 3,000 miles to CarMax for an appraisal, expecting a high offer due to the vehicle's rarity. He received a $76,000 offer, which he found surprisingly low compared to rumors of $125,000 offers. However, current Kelley Blue Book data suggests this offer was actually strong, as private-party values for similar trucks have since dropped to around $75,750.

The Cheap Tesla Model X: An Electric Family Hauler with Big Trade-Offs
technology4 months ago

The Cheap Tesla Model X: An Electric Family Hauler with Big Trade-Offs

A decade-old Tesla Model X can be found under $20,000, making it the only affordable electric three-row family SUV, but the author cautions this is a risky buy due to aging hardware, higher maintenance costs, and recurring issues with the falcon-wing doors highlighted by Consumer Reports; for most families, waiting for a more reliable EV is the smarter move.

Five-Year Drop: 2021 BMW M4 Depreciates by Roughly 40%
business4 months ago

Five-Year Drop: 2021 BMW M4 Depreciates by Roughly 40%

The 2021 BMW M4 has shed roughly 40% of its value over five years, equating to about a $30,000 loss from its original MSRP. Private-party values for the Coupe hover around $52k–$57k (base vs Competition) depending on trim, while Convertible models depreciate more. Real-world listing prices commonly range from the mid-$50k to the high-$70k, with negotiations bringing the final sale price in line with these depreciation estimates.

Five-Year Depreciation Leaves Alfa Romeo Giulia Quadrifoglio Near $43k Used Price
business5 months ago

Five-Year Depreciation Leaves Alfa Romeo Giulia Quadrifoglio Near $43k Used Price

Kelley Blue Book data show the 2021 Alfa Romeo Giulia Quadrifoglio has depreciated about 44% over five years, bringing its current resale around $43,000. By comparison, the BMW M3 retains about 83% of its value (roughly $58,600), while the Mercedes‑AMG C63 sedan sits at about 41% loss (~$41,400). Despite reliability concerns, used examples remain desirable and prices have inched up in early 2026; the Quadrifoglio was discontinued in the U.S. in 2024, yet demand persists.

Budget Track Thrills: 8 Affordable Sports Cars That Deliver Real-World Pace
automotive7 months ago

Budget Track Thrills: 8 Affordable Sports Cars That Deliver Real-World Pace

An auto-gear guide to eight affordable sports cars—Scion FR-S, C5 Corvette, Ford Mustang GT, Mazda MX-5 Miata Club, Chevrolet Camaro SS, Honda S2000, BMW Z4, and Honda Civic Type R—that offer track-level performance for far less than a Porsche, highlighting balanced handling, light weights, and strong midrange power, with used-car prices generally ranging from roughly $11k to $40k depending on model.

"Car Prices Stabilize as Inventory Hits 4-Year High"
automotive2 years ago

"Car Prices Stabilize as Inventory Hits 4-Year High"

New car inventories have reached a four-year high, but prices remain steady at around $49,000 due to high production costs and advanced features. While used car prices are dropping, financing and high interest rates continue to challenge buyers. Lower-priced vehicles under $30,000 are still in high demand and hard to find. Buyers should also consider rising auto insurance costs when purchasing a vehicle.

Carvana's Debt Restructuring Deal Boosts Shares and Reduces Debt by $1.2 Billion
business3 years ago

Carvana's Debt Restructuring Deal Boosts Shares and Reduces Debt by $1.2 Billion

Carvana, the online used-car retailer, has reached a debt restructuring agreement with most of its bondholders to lower interest payments and improve its financial position. The company, which experienced rapid growth during the pandemic, struggled with falling used car prices and rising interest rates. Under the agreement, creditors will receive new secured notes, with interest paid in kind for the next two years. Carvana also reported a second-quarter loss of $105 million, an improvement from the previous year. The debt restructuring covers over 90% of Carvana's $5.7 billion in unsecured notes, with the remaining creditors offered the opportunity to join the deal.

CarMax's Unconventional Earnings Strategy Pays Off with Stock Soaring.
business3 years ago

CarMax's Unconventional Earnings Strategy Pays Off with Stock Soaring.

CarMax, the largest used car retailer in the US, reported a surprising Q1 earnings beat, with earnings of $1.16 per share on revenues of $7.69 billion, beating estimates. However, the used car market remains unstable, with retail used car revenues falling 14.4% YoY and retail used gross profit declining 8.7%. The company's adjusted earnings per share beat was due to cost-cutting measures, not sales performance. CarMax is bracing for a "used-vehicle recession" and has had to rethink its strategy to come out of the cycle leaner and more effective.

business3 years ago

CarMax's Cost-Cutting Measures Boost Profit Despite Vehicle Affordability Challenge.

CarMax reported a better-than-expected Q1 revenue, but CEO William Nash said vehicle affordability remains a challenge due to high interest rates and low consumer confidence. The used-car retailer has cut expenses by pausing some hiring and halting share buybacks to battle a "used-vehicle recession". Unit sales of used vehicles fell 9.6% with average selling prices dropping 5.5% YoY. Despite exceeding low investor expectations, pricing and volume trends are likely to remain difficult under a "higher for longer" interest rate scenario, according to CFRA Research analyst Garrett Nelson.

business3 years ago

The Volatility of Car Prices: A Market Update.

The demand for used cars has increased, but the supply remains limited, leading to a significant increase in prices. The usual sources of used car inventory, such as lease returns and trade-ins, have decreased, making it difficult for consumers to find affordable options. The shift towards higher-end luxury vehicles has also made it harder to find economy cars. Interest rates have increased, making borrowing more expensive, and the average APR for new and used cars has risen. Consumers can maximize their trade-in value, shop for the best loan terms, and be flexible with their purchase to find the best deal.

business3 years ago

Navigating the Unpredictable Terrain of the Used Car Market

The used-car market is still experiencing historically high prices, with the average transaction price in Q1 at $28,381, up 44% from five years ago, according to a report from Edmunds.com. The available pool of cheap vehicles is dwindling, with only 30.6% of used vehicles sold for under $20,000 in Q1, compared to 60.5% in the same period five years ago. The lingering effects of supply chain shortages are to blame for high auto prices, and the new car market may offer some relief if sales stall out and automakers use incentives to move new cars off dealer lots, putting pressure on the used market.