Depreciation CRISIS! Car Values Are PLUMMETING

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[phiberoptik]

It's not a "crisis" or "insanity" as you say if finances are returning to normal. Things have been allowed to skew out of kilter for far too long. We need to get back to sanity.

[kevinbarry]

I think what you meant to say is that they were seriously overpriced when new. And suckers bought them

[ROE]

What was insanity was how much new car prices went up.

[oompa]

Yeah, they'll offer you $23k and then turn around and ask $39K. Good luck car dealerships!

[sues]

It is called equilibrium. They are going back to realistic prices. The GREED went through the roof over the past 3 years.

[cdnmetelhead]

Out of the blue last week I got a call from my local Ford dealer. I had bought a truck from them, then sold it back to them for more than I paid for it (2yr old). Saleswoman told me she had a 2023 Mach-E for sale and they were dropping the price by $10k. I couldn’t stop laughing. Saleswoman got mad and hung up.

[masterful]

Car values were too high to begin with.

[simon_hawk]

The prices haven't plummeted far enough as far as I'm concerned 😆

[BuckRogers]

As long as dealers of all sorts remain predatory with used car prices, their junk will sit on the lots.

[drdoc]

Prices are dropping. My car dropped 10 percent in a week, however dealers still want super inflated prices on their used stock.. goid luck. They will go out of business

[UPdan]

I saw a used truck advertised in the paper with 150k miles for $45k. Are they nuts? It's worth $8k with 150k miles. Can't break road wear with high prices.

[stewartsmith]

Dealers and manufactures problems make me smile !

[martinchristian]

I don’t know about anyone else, but I think this is Great!😊

[rickjljr]

every aspect of the vehicle is "proprietary" making it unrepairable except at the dealer. If it is broke it is not economically feasible to fix it.

[S.L.S-]

I have been looking ( in Canada) at 4-5-6 year old SUB compact SUV's and the prices I am seeing are $30, 000+ for cars with over 50, 000+ kilometers. I think that is NUTS ❗

[Uofmdoc]

Thanks fellows you just saved me from making a mistake

[raygirard]

Agree 50% off the vehicles would be reasonable..or prorate all new cars as a 500 mile used to clear lots.

[renid]

they're not depreciating, dealer have over valued their vehicles with their markups. Finally they have to drop their markups to move inventory and have lowered interest rates on the slowest moving ones.

[NVRAMboi]

It's no more insane than the 40-50% MSRP increases over the last 5 years. This is like a reverse mirror image, but with EV's taking it in the shorts moreso than overpriced ICE vehicles at the moment (which, to me, makes sense given market current market demands).
Congratulations to everyone here who avoided being robbed the last 3-4 years (by NOT buying a new vehicle).

[SweetNeoCon]

Buying a depreciating asset is not good, but buying a rapidly depreciating asset is insane.