The minivan market’s always interesting to those of us on the front lines; the genre reflects the paradox of the most conservative and loyal car buyers. Many of these folks will shop for ‘brand name’ regardless of whether the model in question really deserves a price premium given it’s history. For example, the average 2007 Grand Caravan (SXTmodel with 22k miles) is going for $10,200 average, wholesale, book. That’s a steal compared to the Sienna LE ($14,650) and the Odyssey LX ($14,850), which have generally trailed their name brand stablemates in the quality category. Speaking of history, a 2007 Saturn Relay is around $9400, while the Ford Freestar SE is going for $9550. As October’s historically the worst month for used cars (no ‘sale’ holidays, no tax refunds, fear-inducing elections), this may be the right time to pull the trigger on a near-new minivan at 40 cents to the depreciating dollar.
Category: Hammer Time
If there’s a poster car for wholesale heaven, the Mercury Milan is it. No surprise in my neck of the woods. The oft-forgotten sibling of the Ford Fusion is flogged by a dealer network dwarfed by Ford’s name brand Goliaths. More to the point, around Atlanta, it seems like Lincoln/Mercury dealers are either closing shop, changing brands or giving-in to the white flag of consolidation. I saw over 50 Milans today. Only 10 sold. The number of Lincoln Mercury dealers buying? Zero. The Toyota Prius, on the other hand, is on fire. I saw a low-end 2004 model go for $15,800. When you incorporate the auction’s fee, that equates to a $2500 premium over a similar Prius on Ebay’s completed items section. Near-new Priora are following suit. Low-mileage 2008 examples were only going for around $21k a few weeks back. Many of them are now selling in the $23k to $25k range. When the Prius factory comes on-stream in ‘Ole Miss, prices should ease. But will they? A rising tide may lift all boats, but the Volt begins life seriously outgunned.
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