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While used cars have been fetching premiums at auction the past few months, an eight-year-old station wagon going on sale tomorrow might yield more than its book value for another reason. Its former owner: convicted conman Bernard Madoff.

Madoff’s 2001 Mercedes E320 black station wagon will be auctioned off tomorrow in East Brunswick, N.J. It has 41,000 on it, and a suggested value of $14,000 in excellent condition, according to Kelley Blue Book.

Madoff is serving a 150-year prison sentence fo… Continue

General Motors scores points for originality on its latest vehicle incentive program, a 60-day buyback promotion launched Sept. 13. But the promo could come back to bite the OEM if consumers take advantage of the two-month return policy.

GM’s “60-Day Satisfaction Guarantee,” as the program is called, enables buyers of 2009 or 2010 Cadillac, Chevrolet, Buick, and GMC vehicles a 60-day money-back guarantee on their purchases. Customers may return their vehicles starting 31 days after purchase, as… Continue

“Cash for Clunkers”-induced new-vehicle sales put a damper on used-car prices in August, but auction rates should head back up as demand remains strong.

Wholesale used-car prices averaged $9,949 in August, down 0.7% from July, according to fresh data from ADESA Analytical Services. But inventory levels for used vehicles remained relatively low at 33 days and conversion rates were still high, according to ADESA, which means demand is still there.

In a nutshell, unemployment rates are nearly in… Continue

Lease penetration has hovered around 15% since mid-2008, but imports have grabbed a bigger slice of the pie.

So far this year, lease penetration for domestic trucks and SUVs has dropped to 5.4% from 8.7% in the latter half of 2008, according to new data from Automotive Lease Guide. For domestic cars, penetration has declined to 9.1% from 11.7%. Meanwhile, marketshare among imports has climbed to 23.1% from 21.1% for cars and to 19.0% from 16.9% for trucks and SUVs. In the first half of 2008, le… Continue

While demand for used vehicles has pushed up auction prices, the collector car market has lost traction.

At a Bonhams & Butterfields auction in Carmel, Calif., this week, car collectors ponied up $14 million for vehicles including a 1933 black convertible Duesenberg (which sold for $1.4 million) and a 1961 Mercedes-Benz 300SL Roadster (which went for $804,500).… Continue