Used Car

Seven out of ten used cars bought are priced under Rs4 lakh: study

Under GST, tax rates for organized dealers of used cars in 70% of the states have gone up sharply. Photo: Mint Mumbai: Seven out of every 10 cars sold in the used car market are priced under Rs4 lakh. This is in contrast to the buying behaviour of new car buyers, who have been graduating to more expensive models; eight out ... Read More »

Target asking for your used car seats

Have an old car seat lying around? Target will gladly take it off your hands. The company is teaming up with TerraCycle to recycle used car seats, just in time for National Baby Safety Month. From now until September 23, most Target stores will accept car seats to be recycled. In return, guests will receive a 20 percent off coupon, ... Read More »

When it’s worth flying to buy a used car

DETROIT – If you’re willing to fly, you can save — perhaps thousands of dollars — when you buy a used SUV, car or truck. Used vehicle prices vary wildly between U.S. metro areas, sometimes over $3,000. So with some careful research and a plane ticket, it might be worth the time it takes to travel. “For the adventurous deal-seeker looking ... Read More »

Car Finance Report: Used Car Values

Last month the Bank of England’s Prudential Regulation Authority told banks and carmaker finance arms to stress-test their businesses and ask what would happen if the value of used cars on PCPs fell by 30%. It wants to know that they are lending conservatively amid fears that some of the Guaranteed Minimum Future Values that underpin PCPs are too optimistic. ... Read More »

Tesla’s Growing Used Car Sales

As the media never tires of reminding us, the price of a new electric vehicle is still considerably higher than that of a (supposedly) comparable gas-burner. However, one point that is seldom discussed is that a huge slice of the auto market consists of used vehicles. Millions of car owners go through their entire lives without ever considering the purchase ... Read More »

Branded used car firms lobbying for lower GST rate

Used cars attract GST rate of 28% or 43% on gross margin depending on the fuel type and engine size, as is the case with new cars. Photo: Ramesh Pathania/Mint Mumbai: Big Boy Toyz, a Gurugram-based firm that specializes in selling used super luxury cars such as Lamborghinis, Ferraris and Bentleys, has put its expansion on hold because of a goods ... Read More »

Germany’s ‘Diesel Fear’ Leaves $5 Billion in Used Cars Gathering Dust

Germany’s back and forth over potential bans for diesel cars in cities is sapping demand for the vehicles and causing a backlog of used models on dealer lots that’s swelled to some 4.5 billion euros ($5.3 billion). A deal earlier this month between Germany and Volkswagen AG, Daimler AG and BMW AG to upgrade 5 million newer diesel cars and offer trade-in incentives on older models hasn’t ... Read More »

Las Vegas woman sues over recalled Takata airbag in used car

A 2002 Honda Accord involved in a March 3, 2017, crash in which an exploding Takata air bag inflator badly injured the driver, Karina Dorado, sits in a driveway in Las Vegas on Tuesday, April 18, 2017. (Ken Ritter/AP) DETROIT — A dangerous Takata air bag should have been recalled before going from a wrecked car to a salvage yard, ... Read More »

Used-vehicle prices falling amid glut

The average used car lost 17 percent of its value in the past 12 months, dropping from $18,400 to $15,300, according to data from Black Book, an auto analytics company. Photo credit: DAVID PHILLIPS Car sales in the U.S. have been rising for seven consecutive years now, and it’s denting the value of whatever is currently parked in your garage or ... Read More »

Firefighters respond to vehicle on fire in used car lot

A vehicle fire in a used car lot early Sunday morning was not suspicious in nature, says the fire captain on scene. The fire in a Dodge Ram pickup truck, parked on the Baycorp Auto Sales lot at the intersection of Edinburgh Road North and London Road West occurred at about 6:30 a.m. today. Guelph Fire Department and Guelph Police attended the early morning scene. ... Read More »