Back From Vacation..So What's The Word Out There?

All anyone is talking about today is the Used Car market.  It's on the front page of the Detroit News, it was a headline story on CNN, and all the industry blogs and social media outlets are chatting about them.

Watch the Detroit News video, and see the full story here.

Used cars are selling for the highest average price in at least seven years, according to Edmunds.com, an online auto consumer guide. Last month, the average price of a three-year-old vehicle spiked 10.3 percent, to $19,248, compared to July 2009.

So in a nutshell they are saying that "cash for clunkers" depleted the supply of used cars (duh) and that consumer confidence still isn't strong so people are afraid to buy new cars.  So it all boils down to supply and demand!  You gotta love capitalism (especially if your a car dealership).

Now you can read all the articles out there, you can watch the talking heads on T.V. but I have to say that is might be a great time to buy a NEW car. 

I went with a friend to a Ford dealership last week, he wanted to see if he could trade his Edge in on an early lease return and get a Flex - and by early I mean 18 months early.  No way right, that just wouldn't be cost effective.  WELL, he got $2K for his trade and a 2011 Flex and came out $70 cheaper in payment!  No kidding!  They couldn't wait to get this used car and they were ready to deal.

So the moral of the story, if you have shoppers looking to buy a new used car and you have a short supply - FLIP THEM into a new car.  They will be surprised at the affordability.  List your new and used cars on eBay Motors for $1K a month, sell them all!