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SAN DIEGO (KGTV) — If you’re thinking about trading in your used car, now might be the time.Used car prices are beginning to cool off but remain near the historic highs caused by the pandemic, according to data from Edmunds.After a peak in September, dealers paid 3.3% less on average for trade-ins in October. The average used vehicle transaction price, however, remained flat at a record-high ,418 in October because of an influx of relatively new off-lease vehicles."If your household has a second vehicle that you are thinking about selling because it's going unused during the pandemic, there's no point in holding onto it in the hopes of its value increasing again,” said Ivan Drury, Edmunds' senior manager of insights. “You won't get a dramatically higher value for your trade-in than you would have just last month, but you should still get a bit more money than usual since values are still inflated."Used vehicles are worth 16.9% than they did last year, according to the Manheim Used Vehicle Value Index.What caused the historic spikeIn some ways, the pandemic was a time machine for used car prices, reversing depreciation and making pre-owned vehicles worth more than they did a year ago.“That’s kind of crazy to see appreciation on a used vehicle,” Drury said.Drury said he sold a car after owning it for a year for the same price. “That’s unheard of.”Industry experts say it’s a matter of supply and demand. During the pandemic, the supply of used cars dropped, while the demand soared. Both caused prices to spike to record levels.On the supply side, the shutdown of new car manufacturing had a cascading effect on the used car market.“We weren’t churning out new cars, which meant there wasn’t much for shoppers to buy. Therefore people weren’t trading in their used cars,” said Michelle Krebs, Autotrader’s executive analyst. “Everything just kind of stopped.”On top of fewer trade-ins, the pandemic brought the car rental industry to a standstill. Normally, companies like Hertz and Enterprise refresh their fleets, selling off about two million used cars a year. Car rental companies kept their fleets parked during the early months of the pandemic.The third reason supply plummeted: a lot of people decided to put off car buying and extended their leases, so those vehicles weren’t available for sale, although that is now beginning to change.At the same time the supply of used cars dropped, demand for used vehicles surged.“The factories were shut down. They weren’t producing. A lot of consumers, even if they wanted to buy new, they suddenly had to look at used,” Drury said. “That jacked up demand. We had consumers fighting for the same units of inventory.”Demand also rose because people in metro areas that typically relied on public transportation decided to get cars for the first time. And in an environment with a lot of financial uncertainty, used cars were a more affordable option, Krebs said.Low interest rates and stimulus checks also fueled demand by giving consumers more buying power, according to Krebs and Drury.With car rental businesses picking back up and lease extensions beginning to end, the supply of used cars has begun to stabilize. That means now may be the time to sell your used car, particularly before the calendar flips to 2021 and vehicles get one model year older, Drury said.You’ll get more for your used car if you trade it in now, but there’s a trade-off: “You’re also going to pay more for a new car,” Krebs said. 3489
esslie Severns first attended in 2017, when she had just gotten out of the military.Severns said when she walked into the room that day, she began to cry. “This makes you feel so good, that people care about you, that they go this far to donate all their clothes, and it just makes you feel empowered and ready to go back out and face this new life that you’re about to experience,” she said.Operation Dress Code also offers free make-up lessons, professional headshots and career workshops.San Diego's Courage to Call, CalVet and dozens of local businesses and organizations work together to host the annual event. 1107
SAN DIEGO (KGTV) — If you're looking for fun outdoors, it's your weekend!Chula Vista's annual Lemon Festival returns this weekend, featuring lemon-infused activities, foods and drinks, and fun, including several contests. The festival routinely brings tens of thousands to Third Avenue to mark the city's reign as "lemon capital of the world."Also returning this weekend is the Oceanside International Film Festival, giving attendees the chance to dig into the community's unique artistic talents and local and international filmmakers.Not interested in anything here? Check out the 10News?community events calendar for a look at even more things to doClairemont will also hold a free family day at the South Clairemont Recreation Center, will carnival rides, games, a car show, entertainment, pony rides, and more!Here's a look at some fun to check out around the county this weekend:THURSDAYOceanside International?Film FestivalWhere: Sunshine Brooks Theatre; Cost: - (Thursday - Sunday) Help kick off San Diego's film festival season at the Oceanside International Film Festival, featuring works from local and international filmmakers. Attendees also get the chance to visit the California Surf Museum, featured in "Top Gun," the Oceanside Museum of Art and other local institutions showcasing the town's unique artistic community. Santana Ways in concertWhere: Spreckels Organ Pavilion, Balboa Park; Cost: FreeRelax in Balboa Park to the sounds of Santana Ways, a Santana tribute band, as they take the stage for a free concert at the Spreckels Organ Pavilion.FRIDAYBon Odori FestivalWhere: Balboa Park; Cost: Free - (Friday and Saturday) Balboa Park's Japanese Friendship Garden and Buddhist Temple of San Diego will welcome guests to celebrate Bon Odori this weekend, or a "celebration of joy." Jump into family-friendly activities, Japanese festival foods, a beer garden, and more! Latin American FestivalWhere: Bazaar del Mundo, Old Town; Cost: Free(Friday - Sunday) More than 25 artists from Mexico, Peru, Guatemala, and other Latin American countries will display their vibrant works of art, jewelry, pottery, and many other pieces in Old Town.SATURDAYSan Diego Symphony: Harry Potter and the Goblet of Fire in concertWhere: Embarcadero Park; Cost: - 1(Saturday and Sunday) Relive the fourth installment of the Harry Potter film franchise, as the San Diego Symphony plays the score to the film, live-to-screen. 29th annual Clairemont Family DayWhere: South Clairemont Recreation Center; Cost: FreeEnjoy a fun day out with the entire family at Clairemont's family day celebration. Check out a car show, free pony rides, free swimming at the recreation center pool, carnival rides, entertainment, and much more!SUNDAY22nd annual Chula Vista Lemon FestivalWhere: Third Avenue; Cost: FreeCelebrate Chula Vista's reign as "lemon capital of the world" during their brightest party of the year. The festival features lemon-infused activities, live bands, food and drinks, kids rides, and lemon-themed contests! Snorkel with leopard sharksWhere: La Jolla coastline; Cost: -Get close and personal with our neighbors to the west during some snorkeling in La Jolla with leopard sharks. Birch Aquarium experts will guide you as you meet a variety of sea life living among the kelp and sandy bottom of our coastline. 3420
SAN DIEGO (KGTV) -- If you're planning a trip to cast your ballot at San Diego's Registrar of Voters or one of four satellite polling locations, check out the ROV interactive wait time map below. 203
SAN DIEGO (KGTV) — In some of the most severe cases of COVID-19, doctors are finding it’s not the coronavirus making people critically ill.It’s their own immune system, and a San Diego-based biotech company thinks it has an answer.La Jolla-based INmune Bio announced Tuesday it has FDA approval to begin a Phase 2 clinical trial on its inflammation fighting drug, Quellor.In many of the sickest COVID patients, doctors have noticed their blood is filled with high levels of immune proteins called cytokines. Cytokines act as messengers between cells and the virus can cause them to go haywire, setting off what’s known as a cytokine storm.In a cytokine storm, the body’s immune system starts to attack its own cells and tissues rather than the virus. During the Spanish Flu of 1918, many of the deaths were caused by cytokine storms.“You need to control the cytokine storm to keep patients from getting sick,” said INmune Bio’s CEO Dr. R.J. Tesi.There are several different types of cytokines. A drug undergoing testing in a federal trial with remdesivir targets a cytokine called beta interferon.The San Diego biotech’s drug Quellor suppresses a very specific cytokine called soluble tumor necrosis factor, which Dr. Tesi calls “the master cytokine” because of its role in triggering other immune proteins.Dr. Tesi said this particular cytokine may contribute to another troubling issue with COVID-19: blood clotting.“When they write the history of COVID-19, the clots are going to be the bad guy,” Dr. Tesi said. “These blood clots go off everywhere and they gum up the works. They make it so the lungs can't work. They make it so the kidneys can't work. They make it so the heart is screwed up. Make it so you have strokes.”INmune Bio, which is publicly traded but has just six full-time employees, is hoping its drug can address both the blood clots and the inflammation.The company plans to enroll 366 hospitalized COVID-19 patients for a Phase 2 trial to see if intervention with Quellor can keep people off ventilators and out of the ICU. 2053