January 28, 2013

Where Used Cars Cost More Than New Cars

The place where used cars cost more than new cars.
Venezuela (via Bloomberg
Automobiles purchased in Venezuela, South America’s largest oil exporter, typically gain in value the moment they are driven off the dealership lot. Facing 20.1 percent inflation and capital controls introduced in 2003 that limit the amount of bolivars citizens may take out of the country, Venezuelans invest in durable goods.
A 2008 4X4 Jeep Cherokee purchased in 2008 for 135,000 bolivars ($31,395) can be sold today for 450,000 bolivares, a 233 percent price increase
So, why sell new car? 
Car dealerships convert new cars into used cars and sell them for triple the price

Tags: used car vs new car prices, used cars more expensive, venezuela car prices