In Cambridge, a 2021 BMW that cost $79,000 new recently sold for $85,000 — used.
As the shortage of new cars turns used cars into objects of intense desire, dealers are begging car owners to turn in their vehicles early so they can flip them for more. bostonglobe.com/2021/11/21/bus…
As the shortage of new cars turns used cars into objects of intense desire, dealers are begging car owners to turn in their vehicles early so they can flip them for more. bostonglobe.com/2021/11/21/bus…
🚗 Many people driving modest cars are finding they're suddenly worth something.
They may not have the latest safety features, or even an attached bumper, but they’ve got one major thing in their favor: They’re here now.
bostonglobe.com/2021/11/21/bus…
They may not have the latest safety features, or even an attached bumper, but they’ve got one major thing in their favor: They’re here now.
bostonglobe.com/2021/11/21/bus…
Since March 2020, used cars and truck prices have gone up 43.3 percent, according to the Bureau of Labor Statistics’ Consumer Price Index.
That’s compared with an 11.7 percent rise for new vehicles, and an overall US inflation rate of 7.3 percent.
bostonglobe.com/2021/11/21/bus…
That’s compared with an 11.7 percent rise for new vehicles, and an overall US inflation rate of 7.3 percent.
bostonglobe.com/2021/11/21/bus…
The average listing price of a used vehicle for sale on the online platform CarGurus broke $30,000 at the end of October, compared with about $23,000 a year earlier.
bostonglobe.com/2021/11/21/bus…
bostonglobe.com/2021/11/21/bus…
Previously, a car lost value the moment it was driven off the lot.
Now, "a car you bought six months ago could now be worth $5,000 more than you paid for it last spring,” said Charlie Karyanis, president of City Motor Group.
bostonglobe.com/2021/11/21/bus…
Now, "a car you bought six months ago could now be worth $5,000 more than you paid for it last spring,” said Charlie Karyanis, president of City Motor Group.
bostonglobe.com/2021/11/21/bus…
This summer, Trevor Barcelo sold his Porsche 911, which he paid $73,000 for in 2016.
A dealer came over, checked out the car, and promptly wired him $74,000.
For the hard work of driving a sports car for five years, Barcelo earned $1,000.
bostonglobe.com/2021/11/21/bus…
A dealer came over, checked out the car, and promptly wired him $74,000.
For the hard work of driving a sports car for five years, Barcelo earned $1,000.
bostonglobe.com/2021/11/21/bus…
Brian Bell is on the receiving end of vigorous outreach from the dealer who sold him a new Chevy Traverse in 2016 and now wants to buy it back — for $4,200 over its value.
“It’s getting to the point where I think I might be crazy if I don’t sell,” he said.
“It’s getting to the point where I think I might be crazy if I don’t sell,” he said.
Larry Lawfer, a real estate agent from Milton, is holding out on selling his 2020 Nissan Altima, hoping that prices will go even higher and he'll get a bigger payday.
“I’m playing the market,” he said.
bostonglobe.com/2021/11/21/bus…
“I’m playing the market,” he said.
bostonglobe.com/2021/11/21/bus…
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