The Environmental Protection Agency is offering fuel-economy labels for used car sellers that could amount to a selling advantage for those who have fuel-efficient vehicles for sale in a time of high gasoline prices.
Sellers can go to FuelEconomy.gov and input year, make, model and engine-transmission configuration of their ride. That will generate a printable PDF with city and highway miles, a combined fuel economy rating and a stock photo of the vehicle. The PDF will also have a quick-response bar code that smartphone users can scan to get instant info about the model.
(Editor’s note: We received the following reply from FuelEconomy.gov when we questioned why the link above is listed as out of service: “Legitimate questions were raised about how to best represent the degradation of fuel economy over time. We are working on this and hope to have the labels back up soon. However, at this time we do not have any information on when this service will be restored.”)
If you have a used fuel sipper for sale, people are willing to pay you more right now than they would have just a few months ago. I was talking with a Toyota saleswoman who was saying how they couldn’t figure out what to do with all the surplus Priuses on their lots back in November. Now she says they’re down to 2 Priuses and people are calling frantically to get one.
The focus of the market is on fuel economy. So a used fuel-efficient vehicle for sale gives you pricing power. Having said that, the real deals out there can be found among the gas guzzlers. Used car sellers who have gas guzzlers on their hands are begging for buyers!
This segment originall aired in April 2011.