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The high prices drove enthusiasts away from the market, and cars passed from investor to investor with little or no profit gained. [18] The 1980s boom was followed by 1990s bust, and the values of classic cars plummeted, causing most owners to lose considerable portions of their investment portfolio values. [33]
The Federal Trade Commission (FTC) is cracking down on junk fees.The new rule is expected to save consumers more than $3.4 billion, the FTC said. The FTC’s rule goes into effect on July 30, 2024
The rule would specifically bar misrepresentations about price, cost and the total cost of the vehicle. Dealers will also be required to obtain consent for any charges they add to a vehicle's price.
Prices of vehicles sold at dealer auctions tend to be lower than those advertised on any dealer's lot. Sellers forgo a potentially higher sticker price to take their inventory to a dealer auction where it will be auctioned off for less than retail for a number of reasons. Maintaining aging inventory costs dealers both money and reputation.
A 1961 American Rambler in disrepair. A decrepit car is a car that is often old and damaged and is in a barely functional state. There are many slang terms used to describe such cars, such as beater, clunker, chod, flivver, hooptie/hoopty, jalopy, old banger (most commonly used in the UK), but the most popular being junk car.
Here Are Your Best Options More Bang for Your Buck: These 20 Cars Will Last You Twice as Long as the Average Vehicle But not all automobiles are getting more expensive when you account for inflation.
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