Used car marketplace Vroom has closed a whopping $146 million series G round of funding led by automotive retail giant AutoNation, with participation from “funds and accounts” advised by T. Rowe Price Associates, L Catterton, General Catalyst Partners, and Fraser McCombs Capital, as well as a bunch of individual investors. Founded out of New York in 2013, Vroom serves as a platform for buying, selling, and trading in second-hand vehicles that are delivered direct to the buyer’s door. The company also offers financing services to help fund transactions. Prior to now, Vroom had raised around $320 million, and with another $146 million in the bank, it said that it plans to “enhance key technologies and processes,” as well as build its customer base and make new hires. “We are incredibly encouraged by this recent round of funding as investors, including those in the traditional auto retail space, continue to recognize that the Vroom model … [Read more...] about Used car marketplace Vroom raises $146 million
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By Murad Ali Published: November 9, 2018 0 SHARES Share Tweet Email n this photograph taken on July 26, 2015, people gather around cars at the Sunday car market in Karachi. PHOTO: AFP After all the hard work and saving every penny, you are all set to buy your first car. You are now ready to say goodbye to the frantic public transport system or the unsafe two-wheeler. At this point, it is extremely important to take precaution to avoid wasting your hard earned money. Not everyone can afford the high cost of buying a new car, which is why most of the ambitious car buyers prefer to purchase used cars. Chances are that inexperienced buyers often become prey of tricky dealers and regret their decisions later. The steps listed in this guide will ensure that you get value for the money spent on your purchase. Researching the suitable make and modelThe first step is to decide the right make and model. You can research it at your home or office as there are a number of online … [Read more...] about Buying a used car? Here’s a guide to avoid scams and regret
As much as you can expect the sun to rise tomorrow, you can expect new vehicles to become more expensive as time marches forward. According to the latest data from Kelley Blue Book, in September, the average new-car transaction price was $35,742. That's two percent more than for the same period last year.That average price, as you'll see later, is too much for many Americans to comfortably afford. Thankfully, there is one less-expensive alternative to new-car ownership that can offer a consumer just about the same peace of mind as with owning a new car, while only having to spend around 50 to 75 percent of the money they would have spent for a new vehicle. That alternative is your preferred automaker's certified preowned (CPO) program.What is a CPO car?A certified preowned car is a used vehicle that shows hardly any signs of having been used before your potential purchase. CPO cars are typically off-lease units that have returned to the dealership where they were first sold new. Once … [Read more...] about Should you buy a CPO used car, truck or SUV?
Brian Pascus, provided by Published 6:07 am PDT, Saturday, September 22, 2018 Porsche The automotive search engine iSeeCars.com recently commissioned a study to look at the used car industry. They studied a pool of four million used cars that were one to three years old and had been sold between January and July 2018. iSeeCars.com found that the slowest selling used car on the market is the Porsche Cayenne, with the Porsche 911 not too far behind in the four spot. "Cars that remain on market for longer than average indicate that supply is higher than demand, which could mean the pricing is too high or that the car isn’t as well-liked as its competitors," said iSeeCars CEP Phong Ly in a statement. The automotive search engine iSeeCars.com recently commissioned a study to look at the used car industry, where they found the best used-car deals out there. But the study also took a more specific measurement of which are the … [Read more...] about The 10 slowest-selling used cars in America
Tom Staperfenne, 34, isn’t ashamed to admit that he went out and spent most of his family’s income tax refund for 2017 right away.Nearly the entire $3,700. Gone.But don’t wrongly label Staperfenne as a spendthrift. Most of that money went toward the loan for a 2012 silver Ford Fusion that he bought used last summer for around $8,200.“I paid it all off in one fell swoop and it was gone,” said Staperfenne, who lives in Grosse Pointe Woods, Mich., and teaches 10th grade economics at University Prep Academy High School, a charter school in Detroit.Sure, many people love to dream about taking a great vacation with a four-figure tax refund or maybe about shopping for something special.But the reality is that many of us are plunking tax refund cash back into our cars. Repairing the transmission. Fixing the brakes. My husband is thinking that maybe it’s time to get a set of new tires for his SUV.Used car sales even ride on tax refund cash, according to … [Read more...] about Susan Tompor: How will you spend your tax refund? Many use it to buy used car