Posted on 09/02/2009 9:19:13 AM PDT by BenLurkin
In the market for a new car but your current set of wheels didn't qualify for the "cash for clunkers" program? Edmunds.com CEO Jeremy Anwyl says hold off, if you can. His advice "would be to wait probably until November" when inventory levels normalize.
In an interesting market dynamic, the Clunkers program drove up demand so much, certain vehicles actually got more expensive. Prices "were up during the program and they're still up today because inventories are still very lean," he says.
One of the best examples is the Toyota Corolla, the most popular new vehicle purchased under the program. During the Clunkers program, buyers of the Toyota Corolla paid 29% closer to the full sticker price than before the program started, according to data from Edmunds.com.
But car companies looking to improve margins also create opportunity for those looking to pick up market share.
(Excerpt) Read more at finance.yahoo.com ...
You can’t make this stuff up.
trade-in will pro’ly be worth more as well
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.