Current high fuel prices and weak economic conditions have seriously damaged used vehicle sales, especially for large SUVs and trucks, according to Big Bucks Auto, one of the largest used car buyers in the NY Metro - Tri-State area. Visit Big Bucks Auto at http://www.bigbucksauto.com/
The consumer market for these gas-guzzling vehicles seems almost non-existent today. Buyers are steering clear of any large vehicles which they anticipate will be very expensive to drive due to high fuel prices.
Although demand has plunged for large SUVs and trucks, it has remained relatively stable for smaller, more economical cars, as one might expect. Consumers are certainly looking for smaller used cars which get good gas mileage.
Cars like the Mini Cooper, which blends sportiness with good gas mileage, have been selling especially well in recent months.
Further hurting used car sales - strong incentives on new cars from manufacturers who are willing to do anything and everything to sell new cars in the current market. “With car makers like Chrysler offering $2.99 gas for three years, and other makers boasting zero percent financing, a great deal of downward pressure is put on the used car market,” said Buddy Evans, President of Big Bucks Auto.
These incentives make selling a used truck or SUV very difficult, as it’s hard to compete with these offers on new cars. Car buyers would rather spend a bit more and get a brand new car with all the attractive incentives, rather than buying a used truck or SUV, which will likely come with no incentives to buy.
One segment of the used vehicle market which hasn’t been affected has been luxury cars. And not only the more ordinary luxury cars, like BMW and Mercedes (which have been selling quite well too), but super luxury cars. Demand for cars like Lamborghini, Ferrari, Aston Martin and others is extremely strong, possibly a sign that the rich really do get richer, while others truly suffer from high gas prices and a weakened economy.
Fortunately though, there seems to be some glimmer of hope for the average consumers even in today’s used car marketplace. As Buddy Evans, President of Big Bucks Auto, puts it; “At Big Bucks Auto, supply has never eclipsed demand. Through the export markets, and the strong global selling environment, Big Bucks Auto is fortunate to be able to buy more used cars, for very fair prices.”
About Big Bucks Auto
Big Bucks Auto is a used car buyer located on Queens Blvd. in Briarwood, NY. Big Bucks Auto is one of the largest used car buyers in the NY Metro - Tri-State area. They buy cars of nearly all years, makes, and models. Big Bucks Auto offers free car appraisal and buys vehicles within minutes. Learn more about their free car appraisal process here: http://www.bigbucksauto.com/
For more information:
Contact: info@bigbucksauto.com
Phone: 888.442.8257
