Values of used cars according to Used Car Buying Guides have dropped slightly in the past 6 months on most models. The truth, however, the bottom has fallen out. I got a car last week for less than $10,000 that Kelly said was worth over $18,000.
Have the prices in these guide always been so over inflated or is this a new situation? Who do they really work for: the buyer or the seller? What are they good for?|||This is the reason that auto mfgs are going broke.
Even they over estimated the value of used cars.
They have written off billions of $$ on leases.
Returned cars were worth far less than their prospects.
All mfgs, foreign makers too. Toyota took a bath.
Did you know that Chrysler is NOT leasing cars, at all?
Others wll follow suit soon, unless increased down payments are initiated. Doubtful at that.
Consider this. Financing a car for 5-7 years. What will it be worth at that time, and what will we be driving then with new fuel?
Car loans have been upside down for years, with so called innovative financing, like homes, zero down. Owners can't afford repairs and/or maintenance on either.
Geeessssh!
Do you know what the first thing that Adolph Hitler did when he was elected in 1932?
He required all wage earners to set aside a small portion of their wages...................................鈥?br>
In order to buy a Volkswagon.
Financing was not an option.|||I've never heard of that edmunds or whatever do you got the link for it?
more times than not your value of your car you own is next to nothing cause that just life I guess..
and I am with you I think they aren't working for US!!|||1st KBB Edmunds, NADA and others base their prices on auction reports. You probably looked at retail excellent condition which once car leasves lot deduct 5-6000.00 as car has an owner. Cars are valued in any year besides specialty cars in fair condition in trade in which is actual cash value.|||It's not over inflated the price of the cars varies during certain market fluctuations plus if you want to trade in your car negotiation skills are a most to get the most bank for your car. Check out www.adviceontime.com they were car salesmen turned to helping the general public and shed light on the wonders of the automotive industry. there is a lot of useful info and its all free.
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