Used Car

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 »

Buyers’ worries put brakes on used-car sales

The industry believes car sales are likely to fall for the rest year, indicating that the market will be in recession by the end of SeptemberSIMON DAWSON/BLOOMBERG VIA GETTY IMAGES The motor market is heading for recession after a 13.5 per cent slump in used car sales was revealed — the steepest fall on record. The industry has blamed a ... Read More »

The untold risks of buying a used car

For car and motor lovers, the Total Motor Show lived up to all the pre-event hype. The event, organised every two years, is the only place East Africans can see all car and motor brands at a go. “This is where to find everything motoring,” commented one of the organisers. My take home from 2015’s dose was the need for ... Read More »

Maruti Suzuki to revamp used-car business

The new outlets, which will also be based on a franchise model, will be set up by Maruti’s dealers, who are likely to invest close to Rs60 lakh-Rs90 lakh in each, depending on the area and city. Photo: Mint Mumbai: Sixteen years after Maruti Suzuki India Ltd entered the used car market, it is sharpening its focus on the business that ... Read More »