The Used Car Market Has Flipped....Again

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▶ Resources I Use/Would Use:

#CarMarket #UsedCars #Crash

[begelston]

I've saved a ton of money by not buying anything.

[Winters]

I have seen used cars almost the same price as new cars. We are in a time of pure insanity!!

[donsmnc]

It will take 30 plus drops of 1.6 to get this market in a place where working Americans can actually afford it

[cmilesx]

Definitely riding this out in my 2018 Tundra and 2013 Harley. Both in great mechanical shape. I am shying away from new because everyone is over complicating their vehicles with electronics to the point I think we are going to see a huge drop off in long term reliability.

[avrgrip]

Problem is that we will continue to have a pricing problem with used cars because there are fewer in circulation. Just like Covid reduced the number of new cars being sold, there are still a lot of cars sitting on dealer lots. If people aren’t buying new cars those cars will not become used cars and the supply of used cars will continue to decline.

[kevman]

Too bad dealers, carmax, and carvana didn't get the memo. They aren't lowering the prices.

[qpwodkgh]

Best remedy for high car prices, is high car prices.

[kayrealist]

Just know that there are 10's of thousands of people who bought a few years back and under water on their cars with 8 year term loans. lol.

[socalluis]

The used car market is currently bipolar and I don’t see it stabilizing anytime soon.

Last Monday, CarMax largest wholesale auction (Murrieta, Ca), every car I was bidding on went 1-2k over black book. I have no idea who is going to buy these cars when they are ready for retail.

Hopefully I have better luck next Monday.

[kylemonteiro]

Don’t buy till winter, car prices should be at there lowest in winter or fall

[bp]

I am now seeing 2020 cars with over 75k miles selling more than the original MSRP. In addition, I see no evidence of any dealership hurting for business. The prices posted on the internet are the price with little or no discounting off the posted price. Never has there been a worse time to buy a vehicle new or used.

[beefxcake]

im not the type of person to trade in every few years, but my 20 year old mitsubishi finally looking like end of life, and looking for a used car with decently low mileage has been insane! 2018s even selling for close to new prices if the mileage is under 40k. plus interest rates to finance said car is way worse than if i just buy a new car! im well aware it'll depreciate immediately but again im gonna get every ounce of use i can out of it, and the added benefit of knowing exactly what maintenance and care is going in right out the gate is nice. would have preferred a used car a few years back but that kind of deal just isn't around my area.

[Lolatyou]

IDK why anyone would spend more than 20-30k on a vehicle unless they have significantly more money than the car is worth...
It's literally a car that you just drive and it will depreciate in value. So many people want status symbols when they can't afford them at any extent.
Meanwhile the people that buy the cheap cars end up with all the money to actually buy the luxury car while having financial security.

[greyfox]

Get ready as car made between 1995-2015 are going to skyrocket in price. They are easy to fix and what people really want to drive, especially trucks and SUVs. 1995 was the begging of OBD-2 and 2015 is when emissions restrictions started bringing down reliability.

[jimmykelly]

I was going to trade in my 2011 equator or sell it outright. But the prices for these newer trucks is insane and they all look the same. I’m just gonna put money into my truck and drive it till I can’t anymore

[chiefkeen]

I think the pricing increases are in part due to the tax season car hikes that naturally occur during that time. Memorial Day through June should be a better indicator of how the market is trending.

[HAMILTONPROVIDEO]

My bike works great! Gets me around pluse exercise! Only $110!

[emb]

The car market, just like the housing market, and food prices, and energy prices, and streaming services, and insurance....is all still batshit crazy and not in the realm of relative affordability. Try as you YouTubers might, the facts remain.

[connor_flanigan]

Americans are quite reasonable in their demands - they want a commercial size truck with the interior of a Leer jet as a daily driver for the price of a 1983 Toyota Tercel.

[ujmrider]

This last week I've been looking at used crew cab Ford trucks on various internet sites. The ones that have 7.3 diesel engine are really holding their value. Some 1995-97 units are still $20, 000 to $30, 000 !!