New Online Transactional Platform, EEZE, Sets out to Combat Fraud in Second-Hand, Private-Party Auto Sales Zainal Abidin, 18/01/2026 MONTREAL, March 19, 2024–(BUSINESS WIRE)–EEZE, a new transactional platform dedicated to safeguarding peer-to-peer auto sales, officially launches today, serving the Ontario and Quebec markets. Designed to combat fraud and uncertainty in private-party transactions, EEZE offers a comprehensive suite of services to verify individuals, vehicles, and facilitate secure money transfers.As online marketplace fraud increases, buyers face uncertainty when dealing with unfamiliar sellers in private sales, particularly in the used car market. Even well-known platforms such as Kijiji, Autotrader and Facebook Marketplace are susceptible to fraud. EEZE steps in to fill this gap, providing a secure and reliable environment for buyers and sellers to conduct transactions with peace of mind.“At EEZE, we’re on a mission to de-risk private-party transactions by introducing trust, guarantee, and financing options,” says Tave Della Porta, co-founder of EEZE. “Our platform is designed to complement online marketplaces by addressing the challenges faced by both buyers and sellers in navigating the complexities of peer-to-peer auto sales.”EEZE verifies individuals by confirming their identity through rigorous screening processes that protect both parties from fraudulent activity. The platform also validates vehicle ownership, condition, and checks for clients, ensuring transparency and reliability throughout the transaction.The inspiration behind EEZE… Continue Reading
Motorists favor used cars due to budget constraints Zainal Abidin, 16/01/2026 When buying a second hand car in 2024, 58% of consumers’ primary motivation would be saving money, according to The Motor Ombudsman’s Opinion Matters poll of 2,050 motorists.Rather than buying a brand new equivalent, budgets and household bills would influence consumers to buy a used car.Bill Fennell, chief ombudsman and md at The Motor Ombudsman said: “Several million used cars change hands each year, and the second hand market, for some consumers, provides a more affordable and accessible proposition.”Four in ten respondents stated they would prefer buying a car that was previously owned by at least one person prior to avoiding the initial loss in value associated with buying a new car. In addition, 20% would hope to avoid waiting for their vehicle to be built and delivered.Showroom visits are important to one in four buyers. Showrooms allow buyers to familiarize themselves with the car’s history through its servicing record or any previous owner reviews indicating performance and reliability.When buying a used car, reassurance that checks have been completed are important and 48% of buyers would prefer to entrust an established bricks-and-mortar seller with this responsibility.If these buyers were to run into an issue,… Continue Reading
Hyundai Motor Company Launches Domestic Certified Used Car Business Zainal Abidin, 08/01/2026 Hyundai Motor Company marked a significant remarketing milestone with the launch of its certified used car business in Korea, underlining its commitment to playing an active role in the domestic used car market. Wonha Yoo, Vice President of Hyundai Motors Asia Region, emphasized the company’s dedication to customer satisfaction, stating, “Made by us, Cared by us,” encapsulating their philosophy towards the certified used car business. Unique news, as OEM-initiated second hand networks are not as common as in, eg, Europe or the US.TargetsHyundai Motor Company aims to bridge the gap between new and used car markets, ensuring that used car customers receive the same level of care and attention as new car buyers. This initiative comes after almost 2 years of preparation, including the establishment of dedicated infrastructure for the second-hand network.In light of the increasing demand for used cars in South Korea, Hyundai Motor Company sets an ambitious sales target of 5,000 units for 2023, with plans for further expansion in the coming years.CertifiedThe introduction of ‘Manufacturer Certified Pre-Owned’ vehicles by Hyundai Motor Company sets a new standard in the market, offering consumers reliable used vehicles backed by manufacturer certification. These certified used cars … Continue Reading
A Negative Equity Nightmare Is Rocking The Used Car Market Zainal Abidin, 31/12/2025 Buyers who paid over MSRP during the pandemic are most at risk as falling demand for new cars pushes used prices down https://www.carscoops.com/author/chris-chilton-cc/ Used Retail Vehicle Sales Accelerate in February Zainal Abidin, 22/12/2025 According to vAuto Live Market View data estimates, retail used-vehicle sales in February increased from January and were up by 13.5% month over month. A total of 1.49 million used vehicles were sold at retail – from both franchised and independent dealers – during February, up 10.7% year over year and the highest volume since March 2023. Spring fever and tax refund season boosted used retail sales through the month of February and dropped days’ supply to 44 at the beginning of March, down from a revised 53 at the beginning of February. Monthly Used-Vehicle Retail Sales Volume“Historically used retail sales peak in March or April of a given year as tax refunds inject money into the economy,” said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive. “As the average tax refund is up 6% so far in 2024, consumers have been driven to the used retail market earlier in the year, leading to stronger used-vehicles sales in February than we have seen the last couple of years.”The retail used-vehicle sales estimates are based on observed unit changes tracked by vAuto, a Cox Automotive company specializing in inventory management. Retail used-vehicle sales this year,… Continue Reading How to make sure the used car you’re buying is ready to hit the road before you shell out the cash Zainal Abidin, 14/12/2025 HOUSTON – Is the used vehicle you’re buying ready to hit the road?One Houston police sergeant says many times it’s not, and the person buying it has no idea. In some cases, there could be inspection issues or maybe the vehicle is salvageable.That sergeant says buying a vehicle that’s not as advertised not only creates issues for the official buyer, but also law enforcement who could be focusing on more serious crimes. He says that in many cases the issues could be avoided.Last Thursday, we introduced you to Rafael Perro, who paid cash for tax title and license for this 2009 Subaru Forester from Reliable Cash Cars on Highway 249. He still hasn’t been able to register it a year and a half later, because the DMV said he was missing necessary paperwork.The sergeant who works the traffic enforcement division saw our story and ran the paper tag the dealer gave Perro. He found out it wasn’t legit, because the vehicle had not been inspected since 2019. Perro bought the vehicle in 2022. To issue a paper plate, the vehicle had to have been inspected within the past 6 months.The sergeant told us about two… Continue Reading Americans increasingly upside down on auto loans as used car values fall Zainal Abidin, 10/12/2025 Nevada ranked the second highest auto insurance rates in the country, according to Insurify.Used car prices are starting to edge down after soaring for years after the pandemic hit, and while the trend is a much-welcome relief for buyers, it is also causing trouble for some consumers who purchased their vehicles at higher prices.Edmunds’ latest used vehicle report found a growing number of Americans are upside down on their auto loans as used prices decline, and the average number of consumers are underwater is at an all-time high.Used vehicle prices have eased from a year ago, but the average amount of consumers is upside-down on car loans hit a record high. (Steve Pfost/Newsday RM via Getty Images / Getty Images)The report found the average transaction price (ATP) for all used vehicles declined to $28,371 in the fourth quarter of 2023, a 4.4% decrease from the same quarter the year before, when the ATP sat at $29,690.At the same time, the percentage of new vehicle sales that had a trade-in with negative equity jumped to 20.4%, up from 17.7% in 2022 and 14.9% in 2021.WAGES IN THE US ARE FALLING AT A ‘STRIKING’ PACE, INDEED … Continue Reading Wholesale Used-Vehicle Prices Decrease in First Half of March Zainal Abidin, 04/12/2025 Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 0.6% from February in the first 15 days of March. The midmonth Manheim Used Vehicle Value Index dropped to 202.6, which was down 14.9% from the full month of March 2023. The seasonal adjustment drove the decline. The non-adjusted price change in the first half of March rose 2.8% compared to February, while the unadjusted price was down 11.6% year over year.Over the last two weeks, three-year-old Manheim Market Report (MMR) prices increased an aggregate of 1.3%, which was just below the typical normal increase observed of 1.4% at this time of year. Over the first 15 days of March, MMR Retention, the average difference in price relative to current MMR, averaged 99.9%, indicating that valuation models are very close to market prices. MMR conversion is up one-tenth of a point against the previous year at the beginning of March. The average daily sales conversion rate of 64.1% in the first half of the month was below the March 2019 daily average of 65.3%. The conversion rate has risen four points from February 2024, indicating that we are seeing stronger-than-normal buying demand as wholesale markets move into… Continue Reading Pricey Tesla Model Y fails to find favor in used car market Zainal Abidin, 01/12/2025 Elon Musk’s Tesla Model Y ranks as the least in-demand used car, due mainly to its high second hand price tag, according to new research from Uswitch Car Insurance.In first place, with a total of 321 listings, the Tesla Model Y is an all-electric compact SUV and despite its sleek design and impressive performance, its steep used price of nearly £38,000 ruled it out of customer favour.Following up in second place is its sister model, the Tesla Model 3 electric sedan with only 1,228 listings followed closely by the Skoda Karoq compact SUV with 1,389 total listings at a median used price of nearly £19,000.The study, carried out by the experts at Uswitch Car Insurance, analyzed factors such as average number of listings, median used price and depreciation rate over a 3-year period.In first place as the most listed second-hand car is the eminently practical Volkswagen Golf hatchback due to its appeal for young professionals and small familiesFollowing up in second place is the Ford Fiesta due to its versatile vehicle that appeals to new drivers, small families, and anyone looking for an economical car followed by the Ford Focus, one of the leading players… Continue Reading Indicata flags prospect of used EV prices falling below ICE cars Zainal Abidin, 30/11/2025 Sales of sub-two-year-old EVs recorded their highest ever market share of 11.2% in February.According to Indicata UK’s latest Market Watch, this figure was assisted by a 24.9% monthly rise in sub-one-year old cars entering the market as manufacturers invested in tactical incentive campaigns to drive sales of nearly new EVs.Despite EVs having the worst Market Days’ Supply of any fuel type at 55 days, the UK balance between EV supply and demand is still one of the best in Europe. In February and March prices also continued to stabilize reducing by just 0.4 percentage points.It said the big test is likely to be the high volumes of used EVs set to come back into the market from the March 24-plate change which could put pressure on stock levels and prices according to Indicata UK’s head of sales Dean Merritt.“Each month our used EV data looks more encouraging as used prices start to fall more into line with used ICE cars.“Our February report shows manufacturer marketing tactics are working and helping drive demand for younger used EVs. The big test will be manufacturers balancing their marketing spend between new and used EV sales,” he added.Currently… Continue Reading 12Next WhatsApp us
Used Retail Vehicle Sales Accelerate in February Zainal Abidin, 22/12/2025 According to vAuto Live Market View data estimates, retail used-vehicle sales in February increased from January and were up by 13.5% month over month. A total of 1.49 million used vehicles were sold at retail – from both franchised and independent dealers – during February, up 10.7% year over year and the highest volume since March 2023. Spring fever and tax refund season boosted used retail sales through the month of February and dropped days’ supply to 44 at the beginning of March, down from a revised 53 at the beginning of February. Monthly Used-Vehicle Retail Sales Volume“Historically used retail sales peak in March or April of a given year as tax refunds inject money into the economy,” said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive. “As the average tax refund is up 6% so far in 2024, consumers have been driven to the used retail market earlier in the year, leading to stronger used-vehicles sales in February than we have seen the last couple of years.”The retail used-vehicle sales estimates are based on observed unit changes tracked by vAuto, a Cox Automotive company specializing in inventory management. Retail used-vehicle sales this year,… Continue Reading
How to make sure the used car you’re buying is ready to hit the road before you shell out the cash Zainal Abidin, 14/12/2025 HOUSTON – Is the used vehicle you’re buying ready to hit the road?One Houston police sergeant says many times it’s not, and the person buying it has no idea. In some cases, there could be inspection issues or maybe the vehicle is salvageable.That sergeant says buying a vehicle that’s not as advertised not only creates issues for the official buyer, but also law enforcement who could be focusing on more serious crimes. He says that in many cases the issues could be avoided.Last Thursday, we introduced you to Rafael Perro, who paid cash for tax title and license for this 2009 Subaru Forester from Reliable Cash Cars on Highway 249. He still hasn’t been able to register it a year and a half later, because the DMV said he was missing necessary paperwork.The sergeant who works the traffic enforcement division saw our story and ran the paper tag the dealer gave Perro. He found out it wasn’t legit, because the vehicle had not been inspected since 2019. Perro bought the vehicle in 2022. To issue a paper plate, the vehicle had to have been inspected within the past 6 months.The sergeant told us about two… Continue Reading
Americans increasingly upside down on auto loans as used car values fall Zainal Abidin, 10/12/2025 Nevada ranked the second highest auto insurance rates in the country, according to Insurify.Used car prices are starting to edge down after soaring for years after the pandemic hit, and while the trend is a much-welcome relief for buyers, it is also causing trouble for some consumers who purchased their vehicles at higher prices.Edmunds’ latest used vehicle report found a growing number of Americans are upside down on their auto loans as used prices decline, and the average number of consumers are underwater is at an all-time high.Used vehicle prices have eased from a year ago, but the average amount of consumers is upside-down on car loans hit a record high. (Steve Pfost/Newsday RM via Getty Images / Getty Images)The report found the average transaction price (ATP) for all used vehicles declined to $28,371 in the fourth quarter of 2023, a 4.4% decrease from the same quarter the year before, when the ATP sat at $29,690.At the same time, the percentage of new vehicle sales that had a trade-in with negative equity jumped to 20.4%, up from 17.7% in 2022 and 14.9% in 2021.WAGES IN THE US ARE FALLING AT A ‘STRIKING’ PACE, INDEED … Continue Reading
Wholesale Used-Vehicle Prices Decrease in First Half of March Zainal Abidin, 04/12/2025 Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 0.6% from February in the first 15 days of March. The midmonth Manheim Used Vehicle Value Index dropped to 202.6, which was down 14.9% from the full month of March 2023. The seasonal adjustment drove the decline. The non-adjusted price change in the first half of March rose 2.8% compared to February, while the unadjusted price was down 11.6% year over year.Over the last two weeks, three-year-old Manheim Market Report (MMR) prices increased an aggregate of 1.3%, which was just below the typical normal increase observed of 1.4% at this time of year. Over the first 15 days of March, MMR Retention, the average difference in price relative to current MMR, averaged 99.9%, indicating that valuation models are very close to market prices. MMR conversion is up one-tenth of a point against the previous year at the beginning of March. The average daily sales conversion rate of 64.1% in the first half of the month was below the March 2019 daily average of 65.3%. The conversion rate has risen four points from February 2024, indicating that we are seeing stronger-than-normal buying demand as wholesale markets move into… Continue Reading
Pricey Tesla Model Y fails to find favor in used car market Zainal Abidin, 01/12/2025 Elon Musk’s Tesla Model Y ranks as the least in-demand used car, due mainly to its high second hand price tag, according to new research from Uswitch Car Insurance.In first place, with a total of 321 listings, the Tesla Model Y is an all-electric compact SUV and despite its sleek design and impressive performance, its steep used price of nearly £38,000 ruled it out of customer favour.Following up in second place is its sister model, the Tesla Model 3 electric sedan with only 1,228 listings followed closely by the Skoda Karoq compact SUV with 1,389 total listings at a median used price of nearly £19,000.The study, carried out by the experts at Uswitch Car Insurance, analyzed factors such as average number of listings, median used price and depreciation rate over a 3-year period.In first place as the most listed second-hand car is the eminently practical Volkswagen Golf hatchback due to its appeal for young professionals and small familiesFollowing up in second place is the Ford Fiesta due to its versatile vehicle that appeals to new drivers, small families, and anyone looking for an economical car followed by the Ford Focus, one of the leading players… Continue Reading
Indicata flags prospect of used EV prices falling below ICE cars Zainal Abidin, 30/11/2025 Sales of sub-two-year-old EVs recorded their highest ever market share of 11.2% in February.According to Indicata UK’s latest Market Watch, this figure was assisted by a 24.9% monthly rise in sub-one-year old cars entering the market as manufacturers invested in tactical incentive campaigns to drive sales of nearly new EVs.Despite EVs having the worst Market Days’ Supply of any fuel type at 55 days, the UK balance between EV supply and demand is still one of the best in Europe. In February and March prices also continued to stabilize reducing by just 0.4 percentage points.It said the big test is likely to be the high volumes of used EVs set to come back into the market from the March 24-plate change which could put pressure on stock levels and prices according to Indicata UK’s head of sales Dean Merritt.“Each month our used EV data looks more encouraging as used prices start to fall more into line with used ICE cars.“Our February report shows manufacturer marketing tactics are working and helping drive demand for younger used EVs. The big test will be manufacturers balancing their marketing spend between new and used EV sales,” he added.Currently… Continue Reading