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Wealthion - Be Financially Resilient
Avoid These Used Car Scams! Insider Tips from a Car Dealer
Jul 17, 2024
Brandon, a seasoned used car dealer, shares insights on common scams, economic impact on car prices, and tips for buying used cars. Topics include certified pre-owned cars, reputable dealers, car auctions, using Carfax, market trends, best time to buy, financing, salvage titles, online dealers, and COVID impact.
43:55
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Quick takeaways
- Tax season spikes car prices in wholesale market, impacting auction rush and dealer spending.
- Certified pre-owned cars offer warranties but may not justify extra cost compared to self-inspections.
Deep dives
The Impact of Seasonality on Car Prices
Car prices in the wholesale market fluctuate due to seasonality in the car market. During tax season, prices soar as customers receive tax refunds, leading to a rush at auctions and increased spending by car dealers. The ripple effect results in an influx of inventory and price volatility.
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Discover
highlights
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