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Sales Kick Into High Gear

May 7, 2002

Years of record new-car sales are putting used-car buyers in the driver's seat, according to the Raleigh News and Observer.

Consumers can thank dealer incentives on new cars for many of the quality trade-ins now flooding the used-car market. But leased vehicle returns as well as rental fleet downsizing also have made the used market one of the best in history, with dealers saying they're seeing more newer models than they can remember.

Some manufacturers such as General Motors and Ford have stopped offering zero percent financing, which was introduced after the Sept. 11 terrorist attacks on the United States. GM now offers rebates of up to $3,000 on new

vehicles, which might be even more attractive to buyers, according to John Thomas, an industry analyst for the National Automobile Dealers Association (NADA).

Even without the incentives, there was already a glut of used cars on the market as rental companies sold off tens of thousands of cars after the attacks, according to the News and Observer.

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