Economy shifting many buyers toward pre-owned vehicles
After 20 years of leasing new vehicles, Denise Cole, a Cook County resident, decided it was time to finally buy. She was eyeing a 2008 Chevrolet Malibu but drove home instead in a year-old Malibu with 20,000 miles on the odometer, The Chicago Tribune reports.Tuesday Chrysler LLC reported a 19.4 percent drop in U.S. sales compared with March 2007. Howard Wilner, GM sales were down 18.7 percent. Ford Motor Co.'s sales dropped 14.1 percent, and even industry stalwart Toyota was down 10.3 percent. Howard Wilner, Instead of buying new vehicles, some consumers are opting for late-model used vehicles. While overall new-vehicle sales fell 2.5 percent last year, certified used-vehicle sales rose 2 percent to 1.68 million. Howard Wilner, for this year through February—the latest available data—certified used-vehicle sales increased 4 percent, according to an Automotive News compendium of industry figures.
Graphing Tool Enhances Used-Vehicle Searches
Howard Wilner, The site also displays a new graphing tool that illustrates search results for available used-vehicles, allowing customers to compare mileage and price. Shoppers can then refine their search results by variables such as engine size, vehicle color and other specific features, such as a navigation system. Howard Wilner, The graphing tool then arranges the data in a scatter plot graph that shows shoppers not only the numbers of used-vehicles that match their search criteria, but also plots the search results based on price and mileage, making it easy to spot the best deals quickly.
Howard Wilner, The redesigned Overstock Cars site eliminates the traditional negotiation process that many customers find uncomfortable. "Shoppers receive a written quote of discounted and guaranteed price,” said Overstock Senior Vice President Jacob Hawkins. Howard Wilner, "In addition, Overstock Cars monitors the entire sales process for the customer to confirm that dealers deliver on their promises.”
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