Used vehicle prices increased during pandemic due to lack of inventory

DETROIT (AP) — It cost a whole lot more to buy a used SUV, car, truck or van last month than it did before the coronavirus hit and that almost singlehandedly caused September’s modest consumer price increase.

Blame it on the pandemic, which knocked supply and demand way out of whack, causing prices to spike.

The good news is that inventories are being replenished and prices are beginning to drop.

“The law of supply and demand worked,” said Earl Stewart, owner of a Toyota dealership in North Palm Beach, Florida. “I think things are coming back to normal.”

When the novel coronavirus made its way to the industrial Midwest and the South in March and April, it forced automakers to shutter factories and many dealers closed. Sales of new vehicles tanked. With few vehicles being traded in for new ones, and leases being extended, the supply of used vehicles dried

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Used vehicle prices rise thanks to coronavirus, but relief is coming

DETROIT (AP) — It cost a whole lot more to buy a used SUV, car, truck or van last month than it did before the coronavirus hit, and that almost singlehandedly caused September’s modest consumer price increase.

Blame it on the pandemic, which knocked supply and demand way out of whack, causing prices to spike.

The good news is that inventories are being replenished, and prices are beginning to drop.

“The law of supply and demand worked,” said Earl Stewart, owner of a Toyota dealership in North Palm Beach, Florida. “I think things are coming back to normal.”

When the novel coronavirus made its way to the industrial Midwest and the South in March and April, it forced automakers to shutter factories, and many dealers closed. Sales of new vehicles tanked. With few vehicles being traded in for new ones, and leases being extended, the supply of used vehicles dried

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Lithium Americas Corp soars on California’s push toward electric vehicles

  • NYSE:LAC has stabilized around $15 after last week’s late surge. 
  • Lithium Americas Corp is benefiting from California’s drive toward electric cars. 
  • The firm’s sky-high predictions also boost the stock price.

California paves the way forward – whether for privacy regulations or for vehicles. The Golden State, which is the home of Silicon Valley, announced a ban on vehicles running on combustible engines by 2035. The goal is to push forward the usage of electric cars, which do not directly pollute the air.

EVs run on batteries, and the most significant component is lithium – and that is where Lithium Americas Corp comes into play. California Governor Gavin Newsom announced the ban on September 23, and that marks the low point for NYSE: LAC shares. 

Since then, it has been on the rise, accelerating its gains in recent days. 

Another positive factor boosting the firm is its own rosy predictions.

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Is That Nearly New Salvage-Title Car Really a Deal? – Business – The Columbus Dispatch

The deals you might encounter on salvage-title vehicles these days are enticing ” late-model SUVs and luxury sedans, often with low miles, advertised for thousands less than comparable clean-history vehicles.

The deals you might encounter on salvage-title vehicles these days are enticing ” late-model SUVs and luxury sedans, often with low miles, advertised for thousands less than comparable clean-history vehicles.

The vehicles are clearly marked as having a ‘branded’ title, a designation that has traditionally frightened off most shoppers, perhaps spooked by past ventures into the depths of Craigslist, where sellers spin tales of tiny little fender-benders that, somehow, led insurance companies to write off a late-model car.

They often turn up when you search online car-shopping sites and sort prices from low to high.

That’s because companies such as AutoSource, which has grown to 10 car lots in six states, Autolocity and dozens of local operators aggressively market branded-title

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Used vehicle prices up as supply sinks, but relief is coming

A shortage of used vehicles in the U.S. has pushed up prices, and that caused much of September’s modest inflation increase

Blame it on the pandemic, which knocked supply and demand way out of whack, causing prices to spike.

The good news is that inventories are being replenished, and prices are beginning to drop.

“The law of supply and demand worked,” said Earl Stewart, owner of a Toyota dealership in North Palm Beach, Florida. “I think things are coming back to normal.”

When the novel coronavirus made its way to

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BBB study: Virtual vehicle vendor and escrow scams

Used car sales — and scams involving vehicles — have surged during the pandemic. Buyers shop for a used car online and ask to see it in person, but the seller uses COVID-19 as an excuse to avoid meeting. The buyer sends the money to purchase the car, but it never arrives.

Scammers will use photos and descriptions from other advertisements to sell a vehicle that doesn’t exist. Once a buyer decides they want the car, they are asked to wire money to a third-party escrow business, which is actually operated by the scammer.

A September 2020 BBB study on virtual vehicle vendor scams revealed consumers age 55–64 were the largest demographic reporting this type of fraud to Scam Tracker. Of those reporting escrow scams, 41 percent reported losing money, and the study projects more than $1 million will be lost in 2020.

How can you recognize a scam like

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Car sharing identified as factor in spread of Covid-19 in Uist

Car sharing has been identified by NHS Western Isles as a factor in the spread of Covid-19 in Uist.

Mild symptoms have also been identified as causing delays in people getting tested and self-isolating, allowing the outbreak to spread.

The health board has told people to avoid car-sharing with anyone from outside their household, and issued detailed guidelines for those who can’t avoid it, including those taking driving lessons.

The precautions include limiting the number of people in the vehicle, washing hands before entering and after leaving the vehicle, maintaining good ventilation and opening windows for the duration of the journey.

Car sharers are also advised to sit as far apart as possible and wear a face mask or covering for the duration of the journey.

Door handles and any other surfaces people touch in the car should be wiped down before and after the journey.

The health board says

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How to sell your car to a private party

AUTOTRADER



a man riding on the back of a car


© istock


Selling your car privately requires a bit more effort than simply trading it in at a dealership, but it can be worth it. Unlike a trade-in, where a dealer must factor in costs of reconditioning, marketing, and reselling your vehicle, a private sale goes to the end customer. As a result, you’ll likely see more money from that transaction. 

Here’s how to sell a car privately and get the best price for it.

Gather your paperwork

If you’re selling a car that you own outright, it’s important to have your title with your name on it in hand. The title is the legal document that says the car is yours. If you still owe money on the car, you need to either pay if off to obtain the title. Or, you can work out a deal with your buyer and your lender to either take over the

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COVID-19 has ‘everyone you talk to looking to buy a car’

Had it not been for the COVID-19 pandemic, Heather Green and her husband wouldn’t have taken the plunge to buy a 2016 Mini Cooper in the spring.



a person holding a glass of beer on a table: Patrick Olshin with CarMax in King of Prussia.


© STEVEN M. FALK/The Philadelphia Inquirer/TNS
Patrick Olshin with CarMax in King of Prussia.

A car just hadn’t been that important to them, and, in fact, when the pair relocated to Philadelphia from Texas years ago, getting rid of their car was a top priority. Walking, SEPTA, and the occasional rideshare got them around just fine.

“Never thought that we would be in a situation where we would need or want another car,” said Green, 46, who lives in Center City.

But a situation did arise in March, of course, and has stretched onward. Rideshares became difficult to hail, Green said, and sitting next to a stranger in a car or on SEPTA just didn’t feel comfortable amid a virus primarily spread

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Honda launches comprehensive online car buying platform: 6-step process explained



a car parked in a parking lot


© Provided by The Financial Express


Honda Cars India has finally introduced its comprehensive online car buying platform. “Honda from Home” has expanded to allow customers to buy a new Honda car from their own home. While dealerships will continue to operate, Honda from Home now allows customers a contact-free experience along with added convenience. Initially, Honda had introduced the platform to simply book a new Honda model only. Recently Honda introduced its virtual showroom. Now, Honda from Home has expanded to a one-stop solution for a car purchase. Honda claims that it takes 6 steps from making a choice to buying the vehicle.

The Honda from Home solution is designed to provide a comprehensive retail experience. The process involves the customer to pick a car of their choice first. Following which, all the offers available for their vehicle of choice at the time will be provided. Once they are

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