Used car

So Park Lane, we've been really building up the stock for 2027 now.

A lot of people are looking for those end of year offers and with the lack of new cars in the market, a lot of people are going into used cars.

Remember we said...

They're savvy buyers now, so they're looking for good, sensible, practical cars.

Although used car prices and new car prices have gone up incrementally because of transport surcharges and fuel surcharges and things like that.

So it's not the most cost-effective time to buy a car.

But with inflation, everything that's going on, new cars and used cars are only going to get more expensive, as is life and everything else going on with it, right? In terms of...

yourself i'd say just have a look at kia i mean there's so many good cars they've got now they're under a lot of pressure uh because of the chinese cars taking market share and things like that but they've got a good range of cars at the kia showroom right now and they'll be able to give you a good deal on your par tech so whether you go for a slightly newer seltos sonnet um even sportage if you want something a Really, really, really good, dependable, good value cars that take your reliability box, durability box, and being a Kia, traded into Kia, they're going to give you the best value for your Rio as well.

The average price of a used car has reached a record high of $32,461.

That's according to a recent report.

Auto research website IC Cars found the average price of used cars rose by 38.2% from 2019 to 2026.

Luxury vehicles had the biggest increase, that price increase of more than 58%, while some of the least expensive cars still climbed by more than 50%.

Finally, Starbucks' annual Red Cup Day is back on the holiday calendar.

And what I want people to do is, and this is really, really important.

If you see I'll just use Joe's Used Cars.

There may not be any legit Joe's Used Cars.

We'll just say there is.

And the cars look like they belong.

You'll get great stories like the ones we just talked about here on CBT Live and delivered to your inbox every day.

And we also want to remind you about Used Car Week that's coming up in November.

Jim and Bridget are going to be there.

CBT News will be broadcasting live.

in San Diego.

It's going to be a wonderful time.

If you're involved in the used car business at all, you're going to want to be there to learn everything you need to know about the used car business prices and all the products coming out right now.

So that's it.

Oh

... a potentiality if, if they aggressively go after devices to, to de-certify them, to take away their FCC ID, there's a potentiality to crash the retail market on used cars, there's a potentiality to crash the wholesale market on used cars.

Well, not to mention-

The-

Sure.

What's the pun? [laughs] I know Used Car [laughs]

Well, y- yeah, Used Car.

Cynthia [laughs] is...

Dang, man.

Uh, mostly.

There was definitely some stuff wrong with the car, but it was just minor stuff that any used car would have.

Right.

So.

All right.

Well, um, let me tell you a couple things, okay? The sale of a car is an as-is sale.

The sale of a used car is an as-is sale.

When you buy a car from a private party, 'cause you did buy it from a private party, you didn't buy it from the, a repair shop or a tow shop or anything else, you bought it from this private party who is not a dealer in the sense of how many cars he sells a year.

It's our first in-studio edition with guests, and those two guests are two of my favorite people, Amanda Dunlap and Justine Mirsky-Blank, who are kind of the head honchos of our event team.

They lead Used Car Week.

They do all of the background work.

And because I'm making them come on this podcast, they're doing some of the in-person work today.

Yes, absolutely.

Well, so you guys have been part of this event for a long time, you know, helping planning it from Amanda back, you know, back in the day, you were part of the ad team.

Now you're director of meetings and events and kind of overseeing everything justine i say you're our chief tetris officer you're making all the pieces come together as our director of event operations so um tell me first i guess a little bit about your your respective roles um putting used car week together and i'll i'll let whoever wants to start Looking at you, Amanda.

Yeah, okay.

Except you remember last weekend we told you the average car price was $50,000 if you want a new car.

Well, I'll tell you what the used cars are.

It may not be much better.

Coming up on this edition of Wheels, good morning.

Right, year-off car.

Yeah, that type of thing.

Used cars are the new luxury vehicles.

Now for three-year-old beaters, now cost over $32,400.

That could be one of the vehicles they make there in Spain.

The MG5 is the fastest selling used car.

In fact, of the top 10 used cars sold in August, nine of them were electric, according to the latest dealer.

surveys.

Good news, if you want to sell electric cars, you don't want stock sitting around on your lot if you're a car dealer for very long.