Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Some Cars Worth More Used Than New

Details

  • Description

    FBN's Jeff Flock breaks down what's behind the used car shortage.

  • Duration 2:46
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

The perfect storm of events at home and abroad getting an unprecedented boost of the value of used cars.

Nullify any use all original garage 1968 Corvette it makes sense that I could get some serious corn export.

But I don't in 1982 dots and B 210.

Well Jeff Flock is at a dealership and Schaumburg Illinois -- I'm guessing that only certain makes and models are commanding top dollar.

It's.

-- got me beat there on the Dotson I guy had a Dotson back in the day to but now I've got a 150000 mile Ford Explorer but no those are not the cars.

These late model.

Used cars that are actually fuel efficient those the ones that are really going Natalia.

There's a number of factors driving this -- -- we can take them down to see you know why there's a shortage of used cars right now what factors are one.

There total sales 20082009.

Cash for clunkers took about 700000 cars off the road leasing was nonexistent there for a while and leasing is what drove.

The used car you know kept the used car flow come in and and then the quake in this nominee.

Has cut down the number of used car of of cars that are available new job in RD of Patrick how many dealerships by the wage we have nine in Chicago from and you know we've been -- business her for thirty years now.

You now are appraising anybody that comes in with the surface -- call you appraise their -- -- they won't -- -- From actually we recognized almost a year ago there was going to be a shortage occurs -- -- and so you know what we.

We've been trying to buy cars on the outside and we figured you know being a business as long as we have we have great customer base why not offer them.

Top dollar for their current in order to get postcards -- So the cars that are worth and here's the other one worst more.

Used than new it's almost hard to believe that got a list of amid weakened to come down.

Among those couple of days the Elantra is -- is Sonata the Audi Q five the Mazda CX nine.

And the Porsche -- and that fancy SUV.

Those are all -- war.

Used the new Ricky well how can it be that is correct of for example on the want -- we just can't keep elements that.

Right now we've got back the borders on all the geologic got launcher around here somewhere -- you know some.

I was this -- We don't you know we have a view a picture of one.

They can show me a picture where car Buckman and on the that is why the used these days just worth more than right where the bigger dealers that we get a little bit more than the average.

But the -- leaders.

-- -- and so that mine -- use interest.

While you've got an investment on your hands not -- Chris yeah clearly idea and I write -- call it right if I had made the right choice when I bought a new car that's an amazing story.

Load More