Used car lots going bust

I’m seeing more and more used car lots going out of business. They are sprinkling the main through fares — like West Broad Street and in the case of this photo Chamberlayne Ave. in the North Side section of Richmond. The trend seems to be getting worse, judging by my unofficial research of driving around and looking.

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Aaron Walker
Aaron Walker
10 years ago

I wonder if this is fallout from the “Cash For Clunkers” program. I’m sure the used car businesses went through a couple awful sales months when new cars could be had for cheaper than the inventory on their lots. Additionally, all the trade-ins for the clunkers program had to be destroyed to get reimbursement from the government…….maybe there’s just not as many used cars around to sell. Don’t even get me started on what I thought about the whole program….. :-X

Chris
Chris
10 years ago

@ Aaron
That’s exactly the reason. With fewer, viable used cars available to these small dealers the prices go up on vehicles they can get their hands on. Taking that into account and cheaper new cars (As you mentioned.) and it turns out that C4C was not as wonderful as the government and current administration said it was.