Used car prices are CRASHING

[ajcivicracer]

$70k is still unaffordable to the average consumer.

[F_C...]

So it was a brand new car that lost 8% of its value after 2 years? They say a car loses 10% of its value as soon as you drive it off the lot... Not 2 years and 25k miles later. So clearly we are not back to normal yet and nowhere near "crashing" or "collapsing".

[grth]

So it went from one astronomically high number to a little lower astronomically high number. Great?😮

[extramiddle]

My dad has a 87 Monte Carlo SS with a 383 stroker. He said he would let it go for 30k (in 2017). I asked why so high ? He told me it’s because he wants to keep the car, that’s the price that’ll change his mind and it also gives the millions of folks that ask him to sell it, an answer. My point is, these dealers are selling cars like my dad. They obviously want to keep them otherwise they would sell them at a “I need to sell this car to keep my business above water” prices.

[EddieJazzFan]

When customers buy new cars, they know that the value depreciates immediately. But when a dealer buys your car as at trade in, they think the value immediately APPRECIATES for some crazy reason.

[blueman]

A Tahoe isn't worth anything close to $71K to me, that should be a $50K vehicle tops. It's a 3 year old vehicle with 25K miles on it.

[richardg]

Your definition of crashing is different then mine . If it drops another 10 or 15K then maybe.

[carguy...]

Always say it's finally happening, when in fact it is not happening at These guy's need to go away now.

[TheShaggy]

A fair price for that vehicle should be $25, 000. WHO in their right minds decided to EVER pay more for a truck?

[igarrett]

I passed by Gerry Lane Chevy earlier today. No wonder they have so many vehicles on the lot with these prices.

[niccovisconti]

I still drive my 1979 Lincoln Mark V. Owned it since highschool circa 1980's. Took the money I would have spent on a vehicle and completely restored it. Haven't had a car payment in a time. Besides it's safer than anything on the road today. Keep your fancy gadgets and plastic new cars. I'll stick with my boat. Shes definitely a looker still!

[stephk]

A fair price would be half of that asking price.

[JeffRyman]

I wish the Toyota dealers had gotten this message.

[CoDNetworkOfGaming]

Msrp for a 2022 Tahoe is 52k. Youre still way overpaying at 66k. This car cant be worth more than 40k

[Forestdawg]

You’ll see a lot of 2021 suburban/ Tahoes take longer sale. That was the only year of the new model that didn’t get the fully redesigned digital dash and infotainment. Throw in 2wd and it’s going to sit.

[RyanW-hi]

I bought a truck during Covid and tried to trade it in a year later. The dealer actually told me then that the used market was starting to collapse. I kept the truck and I’m glad I did, I love it.

[uo]

I'd only pay like 38k for it. That's all. Its no way worth 66k. I'm low but if you pay over 50 it's too much.

[fjohngte]

For reference, 2 days ago I saw a new Nissan Z car for sale MSRP was 61, 000. The dealer added a 15, 000 market adjustment to that! They're asking nearly 80, 000 dollars for a 60, 000-dollar vehicle. Needless to say, they won't be getting my business.

[benjaminmeza]

Actually ..no.. $66, 000 is not what you should be paying for that SUV. The car dealerships have raised their prices phenomenally so you would think that that's what they want for the vehicles and what they're worth. However they're only doing that because they would rather not sell the car but wait until they bring their prices down and get what they really want for the car which is $66, 000. This vehicle should start at $40, 000 before tax and license. It's always a scam. When they try to give you dealer discounts it is just because they've raised the price and you think you're getting a deal. Dealerships never give real discounts. They have inflated the price of all vehicles so that when they do bring the price down "somewhat" you think cars are getting cheaper or you're getting the deal. And no, they're not losing money every time the car sits on the parking lot not being sold. Believe me, they know exactly what they're doing. As long as there's enough idiots out there that are willing to pay, they will always sell cars. And America is full of idiots.

[seismicwhale]

It is a drop...but the car itself is still overpriced. The consumer will decide which direction the car market is headed. Put away that goddamn wallet and these prices will keep dropping. Hold on to what you have. Needs ≠ wants