A study done by iSeeCars found that, after three years, the average depreciation of a car is 39.1%. The automotive research firm noted that three years is the average term of a lease and the ideal age of a used car for prospective buyers. “Three years is a popular age for used car buyers because the cars have taken a major depreciation hit, but likely have many of the latest modern safety and technology features,” stated Phong Ly, iSeeCars’ chief executive officer.
Industry News
It’s Illegal to Let Junk Cars Pile up on Your Property
If you have been letting junk cars sit in front of your home, better watch out! New York State law prohibits the accumulation of junk cars on private property. It says allowing unused vehicles to continue to stay on the local premises “can reduce property values, be an eyesore and an attractive hazard to children, and be a potential health risk.” Instead of risking payment of a fine and letting the state take your cars away, get money for your junk cars by selling them to Gershow Recycling.
Experience Counts When It Comes to Selling Your Junk Car
There are many “cash for cars” operations out there that say they are the best and pay the most money for your junk car. But have you called these companies and found out how many hoops you have to jump through before getting a fair price for your old car? Did you get the impression you were speaking to a middleman, realizing you will not get full value for your car?
More Than 12 Million Cars on the Road Have Defective Airbags
WJLA-TV recently reported that over 12 million late-model car owners are driving around in vehicles that are carrying defective airbags that have been recalled but never repaired. Jerry Cox, an auto safety expert, said half of the cars “have airbags that are more likely than not to kill you” in the event of a crash.
Should You Buy a Certified Pre-Owned Vehicle?
In an attempt to lure people to buy their used cars, auto manufacturers offer a Certified Pre-Owned (CPO) program, which offers numerous benefits to the owner. But what happens when the program expires, and you are no longer covered? If you don’t have any more use for your old car once the coverage ends, sell your car to Gershow Recycling.
DOT: Road Travel Decreased by 40% in the Past Year
The U.S. Department of Transportation reported that travel on roads and highways nationwide during the month of April fell by 40% from April 2019. The number of miles traveled in the United States for April 2020 is estimated to be at 169.6 billion miles, a decrease of 113 billion miles compared to last year. The DOT also reported April’s total mileage is at its lowest level in the last 85 months, dating back to 2001.
Survey Lists 10 Least Reliable Older Cars
A member survey conducted by Consumer Reports listed the top 10 older cars with the most problems. Although the CR article states that many of today’s cars can go 200,000 miles before any major repairs are needed, those surveyed experienced faulty transmissions, engines and head gaskets before hitting that milestone. If you have an old car that is no longer reliable, sell it to Gershow Recycling and get cash for your junk car.
New Car Sales Data Forecast Shows Signs of Improvement
With new car sales staging a comeback last month after a horrible showing the previous month, all signs also point to more people getting rid of their junk cars.
Will There Be a Revival of “Cash for Clunkers”?
A group of federal lawmakers is asking Congress to boost the sagging auto industry during the coronavirus pandemic. What hasn’t been determined is whether there will be a second version of “Cash For Clunkers,” an Obama-era federal program that provided financial incentives to consumers to replace their older, gas-guzzling vehicles with newer models.
Electric Vehicles and The Effect on Junk Car Recycling
The increase in demand for electric vehicles on the market has made an impact on the environment, car manufacturing, and car recycling. These new cars are created with different metals that are lightweight to accommodate for the heavier lithium-ion battery.
