Car re-sale prices continue to drop - does it make sense to buy new?
With SUV/CUV sales soaring and car sales dropping re-sale prices for cars continue to drop. Saw this article which is a great read.
http://www.autonews.com/article/2017070 ... car-prices
Personally I think if you are in the market for a car (not a CUV/SUV) you are much better off buying used. Just a quick scan of used car ads confirms it. The re-sale prices for those selling is not great.
"America's renewed lust for new crossovers, SUVs and trucks instead of smaller cars is already hurting major auto companies, which posted their six consecutive month of declining new vehicle sales in June. But millions cars that were leased two or three years ago, many of them used compact and midsized cars with low mileage, are heading toward auction lots and used car dealerships. That surge in supply threatens to depress prices for new and used vehicles, raising the risk of losses for automakers and finance companies on lease deals. It also undercuts the value of cars customers want to trade in for a new vehicle".
http://www.autonews.com/article/2017070 ... car-prices
Personally I think if you are in the market for a car (not a CUV/SUV) you are much better off buying used. Just a quick scan of used car ads confirms it. The re-sale prices for those selling is not great.
"America's renewed lust for new crossovers, SUVs and trucks instead of smaller cars is already hurting major auto companies, which posted their six consecutive month of declining new vehicle sales in June. But millions cars that were leased two or three years ago, many of them used compact and midsized cars with low mileage, are heading toward auction lots and used car dealerships. That surge in supply threatens to depress prices for new and used vehicles, raising the risk of losses for automakers and finance companies on lease deals. It also undercuts the value of cars customers want to trade in for a new vehicle".