Used Car Prices Are Expected To Drop Significantly
In the market to buy a used car? Well you might want to wait a few years. According to a new report, an analyst from Morgan Stanley is predicting that used-car prices will fall 25-50 percent over the next four to five years. Some of his reasons for the prediction ranges from a flooded market, technology obsolescence and financially stressed out auto consumers.
With automated vehicle technology on the rise, having a used car without these features may feel dated and undesirable to a lot of people, according to On All Cylinders. So in a few years you’ll probably be seeing some great deals on some used cars out there!
This week Katie introduces you to 502 Motorworks from Louisville, Kentucky and their recreations of automotive icons. Silas Boyle and Matt Phillips will explain how they build three cars that are exact recreations of the originals: a 502 Spyder which is a recreation of the 1955 Porsche Spyder, a 1963 AC Cobra “Slabside” and a 1952 C-Type Jaguar. They’re all done in alloy with the correct drivelines, brake components and transmissions, just like the originals. And they come with FIA papers so you can race them in historic races along side the originals. They also distribute reproductions of the 1929 Bentley which is a 1948 Bentley that has been rebodied as a 1929 Bentley. Beautiful and amazing to look at and drive! Plus we’ve got some cool tips and how-to secrets from our four shops, so check it all out this week.