Used car prices are not moderating; in fact, they continue to climb every month. A recent iSeeCars analysis of over 1.9 million used car sales in November found used car prices increased an average of 27.9 percent, or $6,939, compared to the same period last year. This follows a 24.9 percent year-over-year increase in October.
It is now 2022 and while the auto industry hoped to recover from the effects of the pandemic by now, it hasn’t happened. Supplies of auto parts, including micro-chips, are not arriving fast enough; hence, the supply of new cars are about 64 percent less than the same time last year. Buyers should expect to pay full sticker price or higher for a new car. Used car prices have skyrocketed, too, with some used cars costing more than their original price tag.
Used car loan amounts and consequently, the monthly payments of used car buyers have risen across all consumer credit levels, with near-prime borrowers seeing the biggest increase year-over-year, according to CarsDirect. Even more disturbing is a report by Consumer Reports that found there are prime credit borrowers getting subprime loans that are costing more than they should.
Winter can be messy business on Iowa roads because your vehicle has to deal with snow, ice, slush, mud, sand and road salt. Of all these elements that can damage your car, sand and road salt are the nastiest. While road salt helps melt the ice on the road in freezing temperatures and sand keeps the salt in place so you can drive your car safely, salt is naturally abrasive, so rust can quickly occur on any metal part of your car. This will cause damage to the body and engine of your vehicle.
Many families will be traveling by car to visit relatives this holiday season and, in addition to parents and children, passengers will include their ever-loyal companion, Fido. If you plan to take your family dog on your holiday road trip, you will need to prepare and have the proper items to ensure it will be a fun adventure and enjoyable road trip for all.
Many families are getting excited for Christmas this year. So in addition to decorating your house and yard, why not step it up and add some holiday cheer to your car?
Before purchasing car decorations, here are some pointers to heed:
The end of Daylight Saving Time means fewer hours of daylight, so drivers are going to have to spend more time on the road in the dark. Studies show the risk of accidents increases when driving in lower light conditions.
Greg Macke, a professional car buyer and consumer advocate shared a number of interesting car facts on the www.yourcarangel.comwebsite. Here are some of them and other fun car facts that might pique the interest of some car afficionados.
Packing your vehicle for a Thanksgiving holiday trip can be an art and a science in itself, because often it not only means loading your vehicle with suitcases of clothes, snacks, and entertainment for the kids. After all, an Iowa Thanksgiving isn’t complete without bringing a favorite homemade casserole and a salad or side dish, or maybe a pie or other kind of dessert.
Iowa may be missing out as more drivers turn to electric vehicles. A Des Moines Register article states the Consumer Choice Center regards Iowa as one of the worst states in which to own or buy an electric vehicle because direct sale of electric motor vehicles by manufacturers is prohibited by state law.
The month of November is when you usually start getting your winter weather outfits ready. It’s also a good time to get your car prepped for the winter. Extreme winter temperatures and heavy snow are just around the corner, so it’s best to get your car in good working order now. Don’t wait until it’s too late.
A bent wheel rim can cause a vehicle to function improperly. Many car owners do not realize a bent rim is a problem that can lead to greater problems if they go unattended. In fact, along with a flat tire and wheel alignment problems, a bent wheel rim is a common problem of many vehicles.
There are several thousand cars that were damaged by floods during recent torrential downpours and storms in the Northeast and Southeast, followed by Hurricane Ida in Louisiana. Reports are many that these cars may end up being re-sold without their damage disclosed to either a private seller or car dealer. Car experts are warning consumers that scammers see the situation as an opportunity to trick unknowing car buyers by selling them flood-damaged cars. This scam will be especially heightened since there is currently a short supply of used cars and their prices are already at an all-time high.
There is a lot to learn about tires, and often ignored is learningabout your vehicle’s spare tire. Have you checked your spare tire lately? Somecar owners have not checked their spare tire at all. It is only when they get aflat tire that many drivers panic and wonder if they have a spare and if it isusable!
No one ever wants to be in a position where they have to file a car insurance claim, but it can happen due to a major or even minor accident, theft, vandalism, or a natural disaster. A car insurance claim is a request you make to your car insurance company for coverage of repairs or loss. If your claim is approved, you will receive payment based on your car insurance policy’s terms.
The global microchip shortage has caused used car prices to skyrocket to over 30 percent between March and June of this year. This is the largest jump in used car prices since 1974, when in a period of three months used car prices jumped by 12 percent. According to iSeeCars.com’s June used car pricing analysis of over 1.9 million used car sales in June, the overall average increase of used car prices was 32.7 percent or $7,583 compared to the previous year. This comes after a 26.4 percent year-over-year increase in May and a 16.8 percent year-over-year increase in April. The analysis also found the price can change depending on the state in which you purchase a used vehicle, so those willing to travel may get a better deal on a used vehicle in another state.
Pickup trucks and larger sports utility vehicles are flooding the streets in the U.S., and while drivers are enjoying these vehicles, other motorists are finding them annoying because bright nighttime glare from the headlights of these oncoming vehicles blinds them. Others complain the glare of their lights from their rearview mirror are disturbing. It appears lighting technology advances to improve nighttime driving has become too intense for drivers with cars that sit lower.
Car owners often ask how long their vehicle’s tires will last before they would have to replace them. A general consensus is tires should be inspected regularly. They for sure need to be replaced after 10 years even if they are not worn.
You can determine the age of your tires by looking at the code on the sidewall. The 4-digit number is the date code that identifies the age of the tire. The first two numbers indicate the week of the year it was made (out of 52 weeks per year), and the second two numbers represent the year.
As COVID-19 lockdowns were lifted this year, demand for cars has soared, so have car prices and car loans. According to Experian, auto loan debt climbed to an all-time high of $1.35 trillion in 2020 and more car buyers are taking longer term loans for 73 and 84 months or six to seven years.
When purchasing a used car, it is important to know what issues to watch out for, especially if it is a high-mileage vehicle. While vehicles made in the last decade are built to last over the 100,000 milestone, owners of cars 10 years or older need to be diligent about maintaining their vehicle and cognizant about what problems to expect.
Carjackings are on the rise across the country. Carjacking is more serious than car theft because it is a federal offense punishable with 15-25 years, depending on the gravity of the crime. If death occurs, a carjacker could be sentenced to life in prison or even receive the death penalty. In contrast to car theft, carjacking is frequently committed in the presence of the victim and usually involves physical violence or the threat of violence toward the victim.
You have done your research and narrowed your selection to a particular car make and model. You are ready to test drive the car.
Test driving the car is the best way for you to see if it is the right vehicle for you.You will need your sense of sight, smell, touch and hearing to evaluate the vehicle’s performance, comfort and convenience. Bring a friend with you because it is good to have someone with an objective opinion and another set of eyes and ears to help identify issues. Have your friend sit in the backseat of the vehicle, so they can also give their opinion on how it feels to be a passenger.
In this period of rising used car prices, there are strategies both used car buyers and sellers can employ to get ahead of the competition. One way is to know the vehicles most affected by the chip shortage, which is the main reason for skyrocketing prices of both new and used vehicles.
Used car shoppers are suffering from sticker shock and dealers themselves are using words like “bizarre,” “crazy” and “wacky” to describe today’s used car market. They are astounded that used cars are selling more than they are normally worth.
There are so many scams these days that people must be vigilant when they receive a phone call from telemarketers or anyone seeking their personal information. These scams have become more prevalent during the pandemic, when most people were home and able to answer their phones. The Federal Communications Commission says auto warranty robocalls were the top call complaint filed by consumers in 2020, and the trend is continuing this year. In fact, according to Iowa Information, recently there has been a surge of auto warranty scams, particularly in northwest Iowa, the news site’s area of coverage.
The prices of used vehicles are just not letting up due to their low inventory and a lag in the production of new vehicles. If you own a pickup and have been thinking of selling it, now is your chance to sell it quickly. It may be the only time ever, according to some auto analysts.
While regular maintenance and good driving habits help increase the lifespan of a vehicle, there are cars, trucks and SUVs that have been proven to be reliable and reach 200,000 miles and over. From an analysis of over 11.8 million pre-owned cars sold in 2020, iSeeCars found a mix of vehicle types with 10 SUVs (including a hybrid), three pickup trucks, one sedan, one minivan, and one hybrid hatchback made the top 16 models, with each having at least over 2.5 percent of their vehicles reach 200,000 miles. The average for all vehicles reaching over 200,000 miles is just one percent.
At one time the average person would keep their car or truck for 8.5 years. These days, the trend is to keep cars longer, extending ownership to 11.5 years, especially if the vehicle was manufactured after 2012, when better technology and safety features were mandated for all vehicles, with anti-braking systems and electronic stability controls to help drivers maintain control of the car when turning to avoid sliding and skidding.
Millennials (people born between 1981-1996) have been slower than other generations to embrace what are typically important stages of American life, from driving a car, marriage, purchasing a home and car, and starting a family. Compared to other generations, millennials were not as excited about cars. Only 44 percent of millennials obtained a driver license within 12 months of the minimum age, and 28 percent had not received a driver license by age 18. Instead, millennials embraced the sharing economy, preferring ride sharing, Lyft and Uber, bike sharing. This seems to have changed.
A car that incessantly gives its owner problems is usually dubbed a “lemon.” There are many theories about how the term was coined, but regardless of its origin, buying a “lemon” certainly gives you a sour feeling.
Lemon laws protect buyers of cars that repeatedly fail to meet standards of quality and performance. There are an estimated 150,000 cars each year that are lemons. Each state has its own version of the lemon law and vary on what is covered. Iowa’s lemon law is one that is often misunderstood because it does not apply to all used vehicles.
News of a drop in COVID-19 cases, increased vaccinations, additional stimulus money in the hands of consumers are expected to boost the economy. According to Edmunds.com, automakers sold more than 3.9 million vehicles during January to March, causing U.S. auto sales to rise more than 11 percent in the first quarter of 2021. Several major companies reported March sales nearly doubled from the same month a year earlier. While this is good news for the industry, it may not be for consumers due to a wrinkle in the industry which analysts foresee will affect the price of used cars.
What do you enjoy most about buying a car? If you say you enjoy the shopping experience more, you’re among the majority of car buyers who feel the same way. CarEdge.com, an automotive research and vehicle listings marketplace, conducted a consumer sentiment study focusing on the vehicle shopping and buying process and found consumers looking to purchase a vehicle enjoy the shopping experience, but are not as happy with the traditional dealer purchasing process. In fact, they say it is one of their least favorite activities.
You’ve had the beauty for many years, and it has served you well. You are now in a tough spot since it is an old model and worn. The car’s parts are failing, and it is to the point where you are spending more on repairs than the vehicle’s market value. There are several options you can consider.
Used cars were always popular, but what’s surprising is amid the pandemic, consumer preferences are turning toward used luxury cars. In fact, the fastest-selling used cars in February were luxury cars.
According to an iSeeCars analysis of more than 1.2 million new and used cars sold in February from model years 2016 to 2020, the average used car took 42 days to sell. The top 20 fastest-selling vehicles, including luxury SUVs, averaged just 31.2 days.
The values of used cars have increased 15 percent compared to last year. If you are in the market to replace your used car or sell it outright, you will want to find out the value of the vehicle first.
Spring is here! As more people are vaccinated and states and cities slowly relax pandemic restrictions, many a car owner will get the itch to go on a road trip. You may be ready for a trip, but you have to make sure that your car is ready, as well. The last thing you need is car trouble to spoil your trip.
According to a Consumer Reports survey of most satisfying brands of cars, Tesla topped the list, with 88 percent of its owners saying they would buy a car from the same brand again. Lincoln came in second with 79 percent of owners saying they would buy the same car again. Ram placed third with 76 percent owners happy with their pick.
At one time or another, a car shopper will ask, “Which is better, a certified pre-owned car or a regular used car? What’s the difference?”
A certified pre-owned (CPO) car is a gently used vehicle sold by a franchised car dealer of the same brand. They are vehicles that are typically well-maintained, collision free, low-mileage, that are only a few years old and pass a rigorous inspection process.
Have you ever had your car stall on the road, only to find out later that it stopped because your car’s battery died? It can be a frustrating experience that was totally preventable.
If you want your used car to last a long time, getting the car’s oil changed regularly is a must. You should abide by your auto manufacturer’s guidelines regarding intervals for an oil change, but intervals may change as your vehicle gets older.
The COVID-19 pandemic is still prevalent around the country. The CDC guidelines say the best way to stay safe from the virus is to stay home. However, there are times when we need to leave our house to go to the grocery, the bank, and yes, to get our car serviced.
Since used cars have surged in popularity and price, the incidence of odometer tampering has also increased. Odometer fraud has become so rampant that the Iowa Department of Transportation has updated the rules for odometer disclosure statements in the sale of vehicles to align with federal changes starting with the new year.
Pickup trucks continue to reign supreme in Iowa. According to Edmunds data collected on new vehicle registrations over the course of 2020, the Chevrolet Silverado, Ford F-Series and Ram 1500/2500/3500 were the three top-selling vehicles in Iowa. The GMC Sierra 1500 ranked fifth, coming next to Chevrolet Equinox compact crossover SUV. Edmunds ranked all four pickup trucks as the top four best large trucks for 2021. These trucks are also among the top-rated pickup trucks in quality in a survey of thousands of verified new truck owners conducted by J.D. Power Initial Quality Studyand many otherauto consumer sites.
It may be February, but anyone who lives in Iowa knows the weather can change dramatically. One day temperatures can be a balmy 65 degrees and overnight they could dip to 35 degrees or lower and bring snow or ice. This dramatic shift in temperature alone can be hard on your car.
Whether you are buying a used or new vehicle, you will certainly need some type of auto insurance coverage. Regulations regarding auto insurance, rates, and premiums, can vary for each state.
It is a new year, and you have a teenager who is excited about getting a driver’s license and their own car to drive, but you are understandably nervous since the crash rates for teen drivers ages 16 to 19 are nearly four times those of drivers ages 20 and older per mile driven. To allay fears of parents, the Insurance Institute for Highway Safety (IIHS) and Consumer Reports (CR) have teamed up to compile a joint list of recommended safe, reliable and affordable used vehicles for teen drivers. Prices are rounded to the nearest $100 and based on Kelley Blue Book average U.S. prices from July 1, 2020 for the lowest trim level and earliest applicable model year and range from a little over $5,000 and under $20,000.
Every 40.9 seconds, a motor vehicle is stolen in the U.S. In areas like Des Moines and Cedar Rapids there are more cars, trucks and other vehicles stolen than in smaller towns. In fact, Iowa ranks 37th, with 4,687 motor vehicles stolen in 2018, according to a ValuePenguin analysis on “2021 Motor Vehicle Statistics”.
The most stolen cars in Iowa include the Chevrolet, Ford and Dodge Pickups, Honda Accord and Ford Taurus. Don’t let your car be one of them!
Unless you have comprehensive car insurance, which covers a stolen vehicle, having your car stolen can cause lots of grief in money and time. You’ll have to contact police immediately to file a stolen vehicle report and you must contact your insurance company to file a claim within 24 hours of your vehicle being stolen.
It’s a new year and iSeeCars.com has come out with the best picks for used cars for 2021. The car search engine studied over 24 million cars and combined the results with crash test ratings from the National Highway Traffic Safety Administration (NHTSA). Their scores on reliability and value retention were aggregated with their NHTSA average safety ratings for an overall final score of which 10 points was highest score and a highest safety rating average of 5.