Since the 2007-2009 economic recession, the automotive retail market displayed a drop in new car-sales and the increased demand for used vehicles. For 2012, data indicates that it will be more of the same.

Jonathan Banks, Executive Auto Analyst for the NADA Used Car Guide, explained, “The average trade-in value of a 3-year-old used car is 8 percent higher in January 2012 compared to last January. We expect this trend of higher trade-in values to continue throughout the year.”

Essentially, Banks noted there were two reasons for the ongoing trend in used car value. First, NADA analysts predict a 7 percent decline in used vehicle supply for 2012. The off-lease supply, which accounts for a large number of pre-owned vehicles, is estimated to have fallen by 22 percent for 2012.

“Banks says, “The depreciation rate of used vehicles this year will be slower than it has been at any other time in recent history because of reduced inventory, which will keep prices on used models in demand at a premium.”

The second factor attributing to the value of used vehicles is the continuing demand for them. The average age of vehicles currently on the road are at nearly 11 years old. However, Jonathan Banks believes the demand for both new and used cars will increase for 2012.

“Strong consumer demand for late-model used vehicles and a continued reduction in supply will drive up prices this year. For many car buyers who are concerned about cost and economic uncertainty, the used-vehicle market will remain a viable option.”

The British would rather buy a used car from Barack Obama than David Cameron, according to a poll that measures the public’s trust in political leaders.

The YouGov poll, conducted on behalf of Craigslist, asked over 2,000 Britons who they would trust if they were buying a used car from a global leader, and Obama ranked first, with twice as many respondents preferring to buy from him than anyone else. Barack Obama captured 28 percent of the vote, followed by Angela Merkel at 14 percent. Not fairing so well is Silvio Berlusconi – 35 percent of the respondents said he was the world leader they would be least likely to buy a used car from. Other politicians on the list include Vladimir Putin and Nicholas Sarkozy.

“If Obama fails to win reelection next year, he could always launch a used car business in the UK”, says Jim Buckmaster, CEO of craigslist. “But he should clearly avoid partnering with Silvio Berlusconi, or even David Cameron.”

The $1.6-million Aston Martin One-77 is the fastest and the most powerful production car ever made by the luxury sportscar brand. With just 77 units planned to be produced (hence the name, One-77), it is also quite rare.

So imagine our surprise when we stumbled upon the website for Alain Class Motors, an exotic car dealership in Dubai, U.A.E., who has not one, but two brand new examples of the One-77.

The ad is not a hoax either. This is not some dealer using file photos from the manufacturer to lure people and collect deposits for the possibility of ordering the car. No, this dealer has both of these cars (and plenty of other exotic machinery) sitting in the showroom.

Have your pick from either the white example with the red interior, or the more James Bond-esque gun metal grey with a white interior. Both examples have just delivery miles on them.

The One-77 uses a 7.3-liter, V12 motor that produces 750-hp. Power is sent to the rear-wheels via a six-speed sequential gearbox with paddle shifters. It can cover the sprint from 0-60 mph in just 3.5 seconds and will keep going all the way to 225 mph.

So if you haven’t been hurt by the world’s financial meltdown and you don’t want to order and wait for your car to get built, these two can be had right away. We surely would, if only we could.

[Source: Alain Class Motors]

If you have been contemplating moving to Canada, this news might just be enough to push you across the border.

According to a report by Canada’s Minister of Transport, Chuck Strahl, under the NAFTA agreement, used vehicles from Mexico that can be modified to meet Canadian safety and emission requirements, would be allowed to be brought in.

That means, you could possibly bring in a used Fiat or Renault from Mexico into Canada, vehicles that weren’t previously available to our northern neighbor. So if the department for Motor Vehicle Safety Act (MVSA) and the Canadian Environmental Protection Act (CEPA) are on your side, you could be driving around in a Fiat Barchetta or a Renault Avantime. That is a sweet thought.

Plus, Canada also has a law that allows its citizens to import any car into the country that is 15 years old, or older. So if you are visiting Canada, don’t be too surprised to see a Nissan Skyline R33 GT-R driving around, with a fully legal title. Might be worth the move for that reason alone.

[Source: Auto123]

Comedian Jerry Seinfeld made a fortune from a show that was about nothing, and he spent a portion of that fortune buying and collecting cars.

He is widely known for having one of the largest privately owned Porsche collection in the world, but it seems the collection is about to shrink by one.

Seinfeld’s black Carrera GT is now up for sale by Canepa Design in Scott Valley, CA. This 2004 model is showing just 3,176-miles on its odometer and was originally purchased from a dealer in New York, NY. back in March, 2005.

No pricing is quoted  by the dealer, but given the celebrity ownership, it will probably demand a premium price. So if you want to own a car with Hollywood connections, this might just do the trick.

[Source: LeftLane]

If you’re looking to buy a car this year, chances are it’s going to be a used one… at least, that’s what a new survey by the Consumer Reports National Research Center says.

According to the 2011 Car Brand Perception survey, 65 percent of people who responded said that they were more likely to consider buying a late-model used car, while 30 percent stated that they would be less likely to consider a used car. Other numbers show that 71 percent were likely to consider a late-model used car instead of a new car, and almost half of that number was very likely to head in the used car direction. In terms of the gender divide, 75 percent of men are likely to buy a used vehicle, while about 67 percent of women were considering buying used. On the flip side, 28 percent of respondents said they were unlikely to consider a used car.

Are you buying a car this year? Will you be going with used or new? Tell us in the comment section below.

[Source: Consumer Reports]

We’ve all seen those commercials where a lucky recipient is surprised by a new car complete with a festive bow waiting for them in the driveway on Christmas Day. But do you know anyone that has actually received one as a holiday gift? You’ll be surprised to know that it happens a lot more than you think.

According to CNW Marketing Research, this holiday season a total of 14,994 new car purchases will be vehicles that will be given as gifts (out of an estimated 980,000 new car sales this holiday season).

That number grows considerably when you take into account used cars being given as gifts. Of an estimated 2,950,000 used vehicle sales this holiday season, 41,890 of them will be earmarked as gifts. That’s a total of 56,884 big expensive presents, or a 1.45 percent share of all car sales during the holidays).

Possibly a sign of the improving economy, that’s roughly 4,000 more cars given as gifts compared to last year. Still, it’s roughly half the all-time record for vehicular gift giving, with a total of 138,269 cars and trucks being bought as presents in 2005.

Who says the best presents come in small packages?

[Source: ConsumerSearch.com]

When the recession was upon us, it seemed like everyone was making the shopping shift from new to used cars. But now that things are starting to ease up, the prices on used cars have gone up as well.

According to Edmunds.com, used-car prices have increased, especially with larger vehicles such as Cadillac Escalades or Dodge Grand Caravans rising more than 30 percent. Sure, that’s a lot, but it’s still better that the used-car prices we were seeing last spring.

Last month, the average price in the U.S. for a used three-year-old vehicle was $19,248, up $1,800, or 10.3 percent, from the same month last year.

“Consumers are generally paying considerably more for used cars this year compared to 2009,” stated Joe Spina, a senior analyst for Edmunds.com. “A lack of confidence in the economy is driving more people to used cars, putting upward pricing pressure on a limited supply of vehicles.”

In a single year, a used Cadillac Escalade averaged $34,715 last month – that’s a 35.6 percent increase. As well, the Chevrolet Suburban, Dodge Grand Caravan and BMW X5 price rose past 30 percent.

[Source: USA Today]