I already discussed the pattern of car price drops based on month, if you missed it, read it here. Articles like that can be very useful for shoppers, but may be missing a needed level of granularity. One such item would have been a breakdown of price drops on a vehicle based on specific models.
For example, wouldn’t it be helpful for people looking to buy a used Chevrolet Suburban to know that it drops about 3% in price before being bought or for people looking to buy a Hyundai Genesis that drops 6%? The information in this post should offer better insight on how cars drop in price depending on their model. The average car on Mojo Motors drops more than $800 before being sold, but this number varies model-to-model. [keep reading]
If you’re reading this, you’ve likely joined Mojo Motors and used the website to shop around for a used car or truck. If you haven’t, why not? We have some really special tools to help you save money and time while shopping for a car. It sounds so cliche, but hear us out.
If you have bought a car recently or you’re in the market now to buy, you’ve spent a TON of time researching online – over 11 hours. You’ve looked at photos, compared different models, read dealership reviews, figured out what your trade-in is worth, etc. If you’re like the majority of car shoppers you will also probably buy a car after shopping for about a month.
Used cars and trucks stay on a dealership’s lot for about 37 days which is roughly the same amount of time someone goes from a car shopper to car buyer. Throughout the course of those 37 days, dealerships will drop prices nearly three times, knocking off a couple hundred here and another couple hundred there. In total, the average dealership will drop the price of their cars almost $1,000. [keep reading]
Disruption is hard. When I joined Mojo Motors a year and half ago, I thought we were going to tear the used car industry a new one. Boy was I sort-of right.
Shopping for a used car is a pain. It’s hard to find the right car, track prices, and get a good deal without spending a ton of time and fielding a lot of calls. We built a solution at Mojo Motors that really helps people buy a used car. We had to take care of our dealer partners too, and we thought we had. You see we charged them whenever a Mojo member purchased a car. Sounds fair right? [keep reading]