Used Cars Selling in Tough Economy
Grand Rapids - Everyone has heard about the struggles with the big three automakers. But there is some good news when it comes to the car industry. Some used car dealers are seeing the best sales they've seen in months.
At Kool Chevrolet in Plainfield Township, they saw their used car sales jump 20% over this time last year.
At Pfeiffer Lincoln Mercury on 28th Street, they've sold 35% more used cars than last March.
"The $10,000 and under car is very popular," said manager Dick Groenink.
Which, in turn, is good news for the shelves of Rowerdink Incorporated. Sales for the auto parts supplier is up close to 10% in Grand Rapids. A lot of people are buying parts to fix up older cars.
"And figuring with the ecomony, that's like being up 30 percent normally," said company President John Rowerdink.
But dealers say things could be back to normal soon. They can't keep their lots full. There's so much competition for older models, it's driving up sticker prices.
"There's a lot more dealers out buying the same cars up so it drives up quick and we're paying a lot more than we we had in the past," said Vanzee of Kool Chevrolet.
And when the dealership pays more for a used car, they have no other choice but to pass at least some of that cost along to you.
"It'll get to a point where people are going to say well, it's not much more for a new car and we'll swing back." said Vanzee. "I do see in the next year or so new car