Booming Used Car Market Fills The Gap For Those Priced Out Of New Vehicles

America’s used car business is facing a mid-life crisis: dealers are selling tons of late-model cars and a lot of dinosaurs, but sales of autos in their middle years are declining.

And that’s bad news for some car salesmen. Independent dealers are showing up at auctions looking for their bread and butter: the six-year-old vehicle at a certain price point.

“The problem is there are none,” said Jonathan Smoke, chief economist at Cox Automotive, which owns Kelley Blue Book, Manheim auctions and other brands.

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TomM - 11/1/2018 10:43:08 AM

+3 Boost

This should not come as a surprise
For the AVERAGE american - whose REAL wages have actually fallen over the last 12 years - they cannot afford a new car - even with 6 year loans if they could qualify. While congress has seen clear to allow the top 1% of earners to pay 1/3 to 1/2 less taxes - the amount of tax relief in the Tax bill for middle income earners was completely wiped out with a 50% raise in Gas prices alone - and wait until heating season comes - these people will be out of the market all winter. ANd if they live in certain states- the inability to deduct all of their Income and property tax will actually send many of them into the Poor category.

That 11% middle class tax cut Trump promised before November 1st - never came for them and won't. Congress is not in session to begin with.

I was lucky enough to make a fortune by being in the right place at the right time twice - and although I wish it would have come sooner - I have no such problems. In fact - I actually purchased my Mercedes Maybach for ONE particular reason - with the extra 8 inches - they were able to custom place my Drivers seat further Back for my almost 6"8" frame to fit more comfortably than just an S-class.

It seems that most of the posters here are in the Upper class of earners and can afford cars.

ggrcrash - 11/2/2018 6:07:36 PM

+2 Boost

Not hating but, If you could afford a 150k car just by being in the right place twice with your money, you ALREADY had it good long before...I'm just saying...