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This just in: Used car prices are holding up

Published 11/13/2017, 03:40 PM
© Reuters.  This just in: Used car prices are holding up
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  • The conventional wisdom earlier this year had used car prices set to tumble as a wave of leased vehicles hit the market. While lease returns are indeed up sharply, the market thus far has easily absorbed them, and prices are doing just fine.
  • According to Manheim, the average used vehicle price of $13,599 in October was up 8.1% Y/Y. Black Book says vehicle depreciation this year has been just 1.5% vs. the 6% early forecast.
  • It's good news for many, particularly auto lenders like Ally Financial (NYSE:ALLY), Santander (MC:SAN) Consumer (NYSE:SC), Credit Acceptance (NASDAQ:CACC), and America's Car-Mart (NASDAQ:CRMT).
  • Now read: Equifax (NYSE:EFX): The Situation Is Severe


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