NOVA/DC/MD - Z's & Coffee, Saturdays at 10AM in [WHERE?!], VA & Columbia, MD

dmhenderson

I can explain but it's a long explanation so here goes. Basically what it boils down to is that a confluence of economic circumstances has driven demand for used cars through the roof.

-During the economic downturn starting in 2008, no one was leasing cars.

-This means that all of those cars that would normally hit the used car market in 3-4 years didn't.

-Credit is harder to come by since the recession meaning new car loans are tougher to get and have higher interest rates.

-Households are cutting down on travel expenses (going to one car, driving less) due to ~the price of gas~

-People are keeping their cars longer due to all of the above.


All of this adds up to a high demand for quality used cars which means that dealerships have been having a field day. And before you tell me I'm full of crap, I bought my base 2009 Z for 28.8k. I sold it privately for 25.5k in 2011.

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