![]() ![]() However, it may take some time for them to reach pre-pandemic levels, as slumping new-model transactions in recent years means there’s fewer trade-ins and off-lease vehicles coming back to dealerships. Insiders expect used-vehicle prices to fall even further moving forward as new-car inventories continue to reach normalcy. What’s more, these factors should cause new-vehicle leasing costs to rise, as monthly payments are based upon the difference between the transaction price and its residual (resale) value at the end of the term, financed at the going rate of interest. According to, the average trade-in value last month was $22,605, which is nearly $3,000 less than it was at the market’s peak last June. Those who bought a new or used vehicle when transaction prices peaked last year will tend to suffer the biggest losses in this regard. ![]() That has the effect of a de facto price increase on the vehicle being purchased, and it’s exacerbated if one is financing the deal, given the concurrent jump in interest rates. However, even those who can cover the cost of a new or used-vehicle purchase out of pocket will find dealers offering less money for their existing models as trade-ins. Cash buyers, needless to say, remain unaffected in this regard. Those financing a pre-owned model will face higher monthly payments as a result, with those having less than prime credit rating suffering the biggest increases. According to Experian, the average used-vehicle financing rate during the third quarter of 2022 was 9.34%, compared to 8.12% a year earlier. For starters, one of the reasons used vehicle prices are headed downward is because interest rates are moving in the opposite direction, thanks largely to the Federal Reserve’s recent Federal Funds Rate hikes made to help tamper inflation. We totally recommend Fletcher Jones MB to anyone that is in need of a Mercedes, especially when the price offered are very competitive.Unfortunately, falling used car prices are not necessarily good news to all parties. Everyone went out of their way to give us the confidence that FJ Mercedes will always stand behind the customer for any issue to make sure the customer is fully satisfied. Luckily, Mr Gonzalez, the GM at FJ Mercedes, had stepped in and directed his team including Mr Austin Real, Mr Ali Mehrnia, Ms Shadi Moghadam (Finance Manager), Mr Payden Evans (Product Specialist) and Mr Steven Kim from Service to help us resolving the issue quickly, smoothly and professionally. AutoCheck Vehicle History SummaryĪfter purchasing the car on, we encountered a situation that we need help from the dealer to address to MB corporate. We totally recommend Fletcher Jones MB to anyone that is in need of a Mercedes, especially when the price offered are very competitive. We have asked for Ali to be our permanent Sales Rep for all future transactions.Īfter purchasing the car on, we encountered a situation that we need help from the dealer to address to MB corporate. We totally recommend FJ Mercedes, especially Ali and his manager Austin. He went out of his way to make sure our needs are satisfied even after the sale transaction is complete. Ali is very courteous, understanding our needs, not pushy, especially not trying to put down the car we traded in like some others sales rep. We have encountered quite a few sales rep, some good some just barely enough to get the job done until we met Ali. ![]() During the past 15 years, our friends and families did acquired a few cars from FJ. This review is especially written for our Sales Rep Ali Mehrnia. As always FJ Mercedes is always nice, clean and professional. On 11-25-2022, we visited FJ Mercedes and ended up trading in our 2021 GLA with a 2023 GLA with a few more features that we need. You will then be directed to the 'Overview' page for the vehicle you selected. To get started, search for the Make/Model in our search box and click New Pricing. A quick and easy way to find the True Market Value, as well as invoice pricing for a new car is by using our Build and Price tool. Located in Newport Beach, CA / 38 miles away from Los Angeles, CA How to find TMV & Invoice Pricing on Edmunds. ![]()
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