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But Where Was The Glut When I Needed To Buy One?
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Need a car? You're in luck, because there's a glut of used cars, which means you should be able to find recent models in great shape for great prices. Dealers aren't unhappy, either, because they're confident they'll be selling the vehicles at adequate prices to people who might not otherwise be buying. And prices are expected to continue to drop 3% a year for at least a few more years. The losers? Ford, GM, and Fiat Chrysler, who need to sell more new cars and whose stock prices are flat, and whose lending arms won't be writing as many loans for new cars. For everyone else, dealers and consumers, time to car shop. (Reuters via St. Louis Post-Dispatch)
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