Latest news with #tradeins
Globe and Mail
02-07-2025
- Automotive
- Globe and Mail
Edmunds: What you need to know about rising used car prices
If you're shopping for a used car this summer, you may have noticed something frustrating: Prices are climbing again. According to the latest Edmunds' Used Car Report, the average transaction price for a 3-year-old used vehicle has reached $30,522. That's up 2.3% from the same time last year and marks the first time since mid-2023 that this number has climbed back over the $30,000 mark. Many people expected used car prices to cool off as new vehicle production recovered post-pandemic. But as the latest data shows, that's not happening just yet — and shoppers should understand why. What's driving used car price increases? The root cause of today's high used car prices is limited supply. Edmunds found that the average age of trade-in vehicles was 7.6 years during the first quarter of 2025. That's the oldest average since 2019, meaning fewer 'near-new' vehicles — like lease returns or late-model trade-ins — are entering the used market. With fewer low-mileage recent-model-year vehicles available, shoppers compete for a smaller pool of in-demand inventory. That competition keeps prices high, particularly for popular models. Tariffs, too, can influence demand for used cars. True, used cars aren't directly subject to tariffs. But higher new-car pricing because of tariffs will undoubtedly force some additional people to consider buying a used car as a more affordable alternative. Slowing down in a tight market Another sign of the shifting market: The average used vehicle spent 38 days on a dealer's lot before being sold in the first three months of this year. That's the longest time Edmunds has recorded since early 2021. This slower pace suggests both buyers and sellers are approaching the market cautiously. Dealers may be holding firm on pricing, knowing supply is tight. At the same time, the reduced pace may also indicate that buyers are taking longer to find the right match in a smaller market. Should you buy now or wait? Deciding whether to buy now or hold off depends on your situation. If you need a vehicle immediately, it still makes sense to shop — but it's important to be realistic. Don't expect dramatic deals or fast-moving price cuts. Instead, look for well-maintained models with strong reliability records, and be open to adjusting your expectations regarding extras and options. There's a chance more inventory will reach the market later in 2025. Edmunds' data shows that dealers are still short on fresh trade-ins, but that could change as new vehicle production stabilizes and more consumers upgrade their cars. A modest increase in the used supply could help ease pricing pressure. Still, it's unlikely that prices will return to pre-2020 levels. The industry continues to feel the effects of pandemic-era production cuts, and even a return to more typical production levels won't immediately solve the current imbalance between supply and demand. What you can do to get the best deal Shoppers can take smart steps to get more value in today's market. For starters, flexibility is key. Expanding your search radius to neighboring regions can open up more options. Considering less popular trims, colors or brands can also help you find better pricing. Certified pre-owned vehicles may carry a slight premium, but they often include extended warranties and thorough inspections. That added security can be worth it — especially when prices are high and buyers are more concerned than ever about getting a good value. It also helps to be informed. Online tools and data can help you track average prices, check vehicle histories, and compare models across categories. Knowing what's typical for the car you want gives you a stronger position when it's time to negotiate. Edmunds says The used car market in 2025 is anything but predictable. Inventory is still recovering from pandemic-era disruptions, and both shoppers and dealers are tightening the purse strings. For buyers, that means patience, planning and flexibility are more important than ever. If you need to buy now, being open to alternatives to your ideal car may help uncover better value. And if you're able to wait, keeping a close eye on market conditions may give you an edge when inventory improves. ____
Associated Press
02-07-2025
- Automotive
- Associated Press
Edmunds: What you need to know about rising used car prices
If you're shopping for a used car this summer, you may have noticed something frustrating: Prices are climbing again. According to the latest Edmunds' Used Car Report, the average transaction price for a 3-year-old used vehicle has reached $30,522. That's up 2.3% from the same time last year and marks the first time since mid-2023 that this number has climbed back over the $30,000 mark. Many people expected used car prices to cool off as new vehicle production recovered post-pandemic. But as the latest data shows, that's not happening just yet — and shoppers should understand why. What's driving used car price increases? The root cause of today's high used car prices is limited supply. Edmunds found that the average age of trade-in vehicles was 7.6 years during the first quarter of 2025. That's the oldest average since 2019, meaning fewer 'near-new' vehicles — like lease returns or late-model trade-ins — are entering the used market. With fewer low-mileage recent-model-year vehicles available, shoppers compete for a smaller pool of in-demand inventory. That competition keeps prices high, particularly for popular models. Tariffs, too, can influence demand for used cars. True, used cars aren't directly subject to tariffs. But higher new-car pricing because of tariffs will undoubtedly force some additional people to consider buying a used car as a more affordable alternative. Slowing down in a tight market Another sign of the shifting market: The average used vehicle spent 38 days on a dealer's lot before being sold in the first three months of this year. That's the longest time Edmunds has recorded since early 2021. This slower pace suggests both buyers and sellers are approaching the market cautiously. Dealers may be holding firm on pricing, knowing supply is tight. At the same time, the reduced pace may also indicate that buyers are taking longer to find the right match in a smaller market. Should you buy now or wait? Deciding whether to buy now or hold off depends on your situation. If you need a vehicle immediately, it still makes sense to shop — but it's important to be realistic. Don't expect dramatic deals or fast-moving price cuts. Instead, look for well-maintained models with strong reliability records, and be open to adjusting your expectations regarding extras and options. There's a chance more inventory will reach the market later in 2025. Edmunds' data shows that dealers are still short on fresh trade-ins, but that could change as new vehicle production stabilizes and more consumers upgrade their cars. A modest increase in the used supply could help ease pricing pressure. Still, it's unlikely that prices will return to pre-2020 levels. The industry continues to feel the effects of pandemic-era production cuts, and even a return to more typical production levels won't immediately solve the current imbalance between supply and demand. What you can do to get the best deal Shoppers can take smart steps to get more value in today's market. For starters, flexibility is key. Expanding your search radius to neighboring regions can open up more options. Considering less popular trims, colors or brands can also help you find better pricing. Certified pre-owned vehicles may carry a slight premium, but they often include extended warranties and thorough inspections. That added security can be worth it — especially when prices are high and buyers are more concerned than ever about getting a good value. It also helps to be informed. Online tools and data can help you track average prices, check vehicle histories, and compare models across categories. Knowing what's typical for the car you want gives you a stronger position when it's time to negotiate. Edmunds says The used car market in 2025 is anything but predictable. Inventory is still recovering from pandemic-era disruptions, and both shoppers and dealers are tightening the purse strings. For buyers, that means patience, planning and flexibility are more important than ever. If you need to buy now, being open to alternatives to your ideal car may help uncover better value. And if you're able to wait, keeping a close eye on market conditions may give you an edge when inventory improves. ____ This story was provided to The Associated Press by the automotive website Edmunds. Josh Jacquot is a contributor at Edmunds.
Phone Arena
17-06-2025
- Phone Arena
This Verizon customer followed all the rules – and still got burned
When it comes to online phone orders and trade-ins, especially pricey ones like iPhones, the risk of something going wrong seems higher than ever. T-Mobile users have long complained about devices disappearing during transit, but they are not the only ones dealing with this mess. Now, Verizon customers are sharing similar stories and they are just as Verizon customer recently vented online about a returned device that mysteriously vanished. It all started with a simple online order. The user bought an Apple device (which always seem to be the ones vanishing), decided to exchange it for another model, and followed the return process... or so they thought. – mark1210a, Reddit, June 2025 About 10 days after sending back the device using the emailed label, tracking showed it had been received. But Verizon didn't send any confirmation emails about the return or refund. So, the user called customer service. The reps said they had no record of the return and pointed out that the two mailed labels were unused. The customer explained that was because they used the emailed one – just like they had requested. The tracking number showed it was received, but Verizon said they'd have to check with the warehouse and opened a ticket. – mark1210a, Reddit, June 2025 Seven days went by and still no update. When the customer called again asking for a supervisor, they were reportedly told nothing could be done – the return period had expired. End result? No phone, no refund, no way to escalate. Another phone lost in this wasn't an isolated case. – AFunkinDiscoBall, Reddit, June 2025 So, where do all these missing phones actually end up? In someone's hands, that is for sure. For example, not too long ago, a $500,000 iPhone theft ring was uncovered, with T-Mobile 's missing devices at the center of it. Meanwhile, over in Shenzhen, China, there's an actual building nicknamed "The stolen iPhone building." It has been linked to a global black market network trafficking stolen iPhones. Who knows – some of these vanished devices might've ended up there. And it is not always international crime rings – sometimes, the trouble starts closer to home. Earlier this year, a UPS employee in Florida was arrested and charged with stealing 171 iPhones worth more than $175,000. It is not just phones going missing, either – tablets and other tech are disappearing, too and customers are clearly fed up. So, if you want to avoid getting caught in a mess like this, there are a few things you can do. One of the safest moves is buying your device in-store, especially when you are spending over a grand on it. It is not always the most convenient, but at least you walk out with the phone in smart move? Record yourself unboxing the phone as soon as it arrives. That footage could be a lifesaver if you ever need to prove something went missing or was never delivered. Same goes for trade-ins – before you drop your device in the return envelope, grab a quick video of you packing and sealing it. That extra step could be the difference between a smooth process and a drawn-out fight with customer service. We've reached out to Verizon for a comment and will update the story when we have a response. Switch to Total 5G+ Unlimited 3-Month plan or Total 5G Unlimited and get a free iPhone. We may earn a commission if you make a purchase Buy at Total Wireless
The Independent
20-05-2025
- Automotive
- The Independent
Tesla starts accepting Cybertruck trade-ins – with ‘insane' depreciation
Tesla has started accepting trade-ins for Cybertrucks, revealing a significant drop in their resale value. A year-old Cybertruck with 10,000km has been valued at US$65,000, a $35,000 drop on its original price. This depreciation rate is about five times faster than the average for pickup trucks and has been labelled 'insane' by electric vehicle news site Electrek, which first reported the trade-ins. The drop contradicts Tesla owner Elon Musk 's 2019 claim that his vehicles would be "appreciating assets". Tesla reportedly has 10,000 unsold Cybertrucks, indicating a potential oversupply and contributing to the lower trade-in values.
