Used car sale rate get bump from 2012 leap year
Posted on Thursday, February 23, 2012 at 6:05:29 PM
Consumers are seeking used vehicles to fill their need for wheels more than ever. People are revving their engine and their wallet for auto financing options to purchase one of the very in-demand used cars on the market.
CNW is predicting 1.95 million used car sales for the month - up 8.1 percent from February 2011, reports Auto Remarketing. Those unadjusted rates lead experts to believe used car franchises will move approximately 650,000 vehicles in February 2012 for a 5 percent year-over-year gain. "Adjusted, however, sales would barely break even with last year," CNW president Art Spinella told Auto Remarketing.
According to the source, other market researchers are more conservative with their prediction at 640,000 vehicles - only a four percent year-over-year gain. CNW expects private-party sales to reach an all time high of 658,000 units.
Many of the consumers purchasing these in-demand vehicles want ideal auto financing options. They are exploring local financial institutions and comparing interest rate and loan opportunities to best fit their particular needs in order to attain one of the expected 650,000 vehicles sold this month.