Cheap cars are back, but...

The $3k gang.
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And seems like still plenty of cars waiting to pass the pre-sale inspection. That guy said in previous videos that his mechanic actually fixes any necessary things and CELs. While most small dealers just rinse the car and list it straight from dealer auction with all the problems.
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Here are some vehicles up close. All are definitely cheap runabouts, but in no way would I call these cars junk. As I saw other dealers nearby sell SERIOUSLY bad vehicles, true junk, for double the asking price of these. At least this dealer is honest with what he's got. Anyways, judge for yourselves.
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Thanks for the on the ground research. Some of them are actually pretty decent models if you know what your looking for.

$2K for a running Scion or old Lexus is much less than anything I have seen here - even FSBO on Craigslist. This looks like it might be a regional thing. How is business in Albermarle these days?
 
Test drove a 2011 Escape V6 yesterday. No rust, but high mileage (160k), asking $1200, as it needs a rad. Drove smooth and nothing unusual stood out.
I have the sane DOHC in my Taurus at 175K miles. It has good power and reasonable economy. Paired with the 4 speed non sequential shift transmission has been bullet proof. The only con is that some things are hard to work on (alternator) but that packaging may be different in the Escape.
 
What do you think is going on here? Are people so used to high prices that they're afraid of seeing pre-2019 prices again? Or is everyone just holding on to their money due to uncertainty and economic tensions? Would this situation cause the new cars to be sold below MSRP eventually? Thoughts?
It is currently more expensive to buy a vehicle than it used to & that slows demand while at the same time supply is also coming back than in the previous few years. That is an interesting car lot pics that you posted. A 3k Lexus though? Transmission is probably bad... :LOL:
 
prepandemic I sold a 1999 Toyota 4Runner in excellent condition with 150k miles on it for 4K. I can't even find a turd for under 8K now. I do see a fair amount of salvaged titled cars and trucks For decent prices, but personally I think that these prices they're asking for salvage title should be for clean title cars and trucks. If anything I see the used car market going higher.
 
I bought this as a day trip “ beater “ on April 10th. A 25 year old one owner 2000 Ford Focus SE wagon with 119,000 miles. New tires and brakes and rear gate strut arms were done by the seller before I bought it. I’ve put 3,000 miles on it in roughly 6 weeks. Considering the history from new I happily gave $3,200 for it. We just returned from a 600 mile 6 day round trip to Myrtle Beach, SC and it ran flawlessly loaded down with luggage, beach chairs, umbrella, cooler chest, etc. Yes, a 25 year old one owner with a car fax history from 6 miles. All services from new were performed at Crossroads Ford in Cary, NC. This pic was taken at Becks seafood in Calabash, NC last Monday when the wife and I ( not the woman in the pic who refused to move while I took the pic from the middle of the road ) shared a 4 item seafood platter. Flounder, Oysters, Shrimp and Scallops. My best mpg is 32.8 and averaged 29.8 mpg in mixed driving for the trip. Deals are out there one just needs to be patient.

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I'm not so sure how legit the YouTube video is about the sales slump at his used car lot. It appears most of his inventory is over $2500 and/or have undesirable histories (at least from my perspective). I see a lot of high mileage, multiple owner, accident repaired and branded title/salvage rebuilt vehicles in the current inventory. Judge for yourself:

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And he said he has almost 200 cars in inventory a few weeks ago, checked site same day and only ~30 were listed online.

Worth noting you can get cars up here with a lot less miles at a lot lower price (even under $500) but usually they
1. Immense rust and body damage
2. Mechanically inop

Up here there was a southern 2006 HHR with 80,000 miles for $14,000 which gave me a chuckle since that was what it’s MSRP was new, people must be insane for what they ask if the car is old, undesirable but low rust.

From what I remember NC cars that run and drive that didn’t drive from the north south are very overpriced no matter what the miles are. Stupidly so to be honest but they lack the amount of rust and body damage you get up here.
I guess it’s not the 80’s anymore but it still feels like everyone is on crack.
 
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And he said he has almost 200 cars in inventory a few weeks ago, checked site same day and only ~30 were listed online.

Worth noting you can get cars up here with a lot less miles at a lot lower price (even under $500) but usually they
1. Immense rust and body damage
2. Mechanically inop

Up here there was a southern 2006 HHR with 80,000 miles for $14,000 which gave me a chuckle since that was what it’s MSRP was new, people must be insane for what they ask if the car is old, undesirable but low rust.

From what I remember NC cars that run and drive that didn’t drive from the north south are very overpriced no matter what the miles are. Stupidly so to be honest but they lack the amount of rust and body damage you get up here.
I guess it’s not the 80’s anymore but it still feels like everyone is on crack.
I am curios what price you would pay for rust free? Not at all saying you’re wrong. You couldn’t give me a rusty car. I think that means my price elasticity is low?

I figured out in 2008 new was the better deal (assuming you keep it forever). With new prices where there at I am back to looking for used.
 
More than scared, millions of the jobs that actually pay enough to live on (the small number there are) are drastically cutting hours, part time and contractors are getting hours slashed so much they should be on unemployment but the states are fighting tooth and nail harassing you if you claim but refused a “potential” low paid part time job an hour and a half a way.
Construction is becoming penny ante small projects and large .gov are getting cancelled.

I’m seeing massive numbers of 3-6 month furloughs and voluntary layoffs offered across the spectrum of businesses.

But if you want part time deliveries or fast food along with other useless jobs that pay less than your fuel to get there, tons of that with no guarantee on more than a few hours a week
You have to get a skill to get more money , it doesn't take a scientist to be in a lot of the skilled trades . Electrician , pipefitter , plumber takes a lot more skill and brain power . People have to stop feeling sorry for themselves get off their butt learn a trade and participate .
 
You have to get a skill to get more money , it doesn't take a scientist to be in a lot of the skilled trades . Electrician , pipefitter , plumber takes a lot more skill and brain power . People have to stop feeling sorry for themselves get off their butt learn a trade and participate .
Not exactly getting rich.

Electrician: https://www.bls.gov/oes/2019/may/oes472111.htm

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Mechanic: https://www.bls.gov/oes/2019/may/oes493023.htm

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You can find all the other trades at the BLS site.

Typical rent for a 2 bedroom apartment is $1892, according to the NAR - so about half a mechanics salary, and about 40% of a Electricians.

I think those are the people struggling. The "non participants" as you mention, are likely on assistance, and don't need a car.
 
I am curios what price you would pay for rust free? Not at all saying you’re wrong. You couldn’t give me a rusty car. I think that means my price elasticity is low?

I figured out in 2008 new was the better deal (assuming you keep it forever). With new prices where there at I am back to looking for used.
No such thing as rust free up here, even so called Arizona cars that are more than 10 years old upon inspection have surface rust randomly all over the bottom of the car, on exhaust components, hangers, all hardware.
(Rust level Depending heavily on brand and model)

Anything remotely resembling clean if it touches a dealer looks like they want to charge more than new, no idea if anyone actually buys an undesirable 20 year old economy car for over $10,000 but they sure like to ask that much.

The number of vehicles available private party up here is near zero, with most being extremely poopy and ready to scrap for metal.
 
Declined the Escape, the front subframe was rotten. If it were a 2013 or newer, I would of busted my knuckles on it, but a 2011, no.
 
You have to get a skill to get more money , it doesn't take a scientist to be in a lot of the skilled trades . Electrician , pipefitter , plumber takes a lot more skill and brain power . People have to stop feeling sorry for themselves get off their butt learn a trade and participate .
I’m doing fine friends and family are not.

As for the trades most I know have already done them, ruined their body and have untreatable random epilepsy while being expected to work anyway despite being a danger to themselves and others while doing so, because apparently having grand malls randomly doesn’t qualify you to stay on disability and even on disability you can’t pay bills but you can’t work a minimal hours low paid job you can handle without getting kicked off and if epilepsy is under control without working a few years, you also get kicked off causing you to work a dangerous job that pays enough to live, that brings about seizures, fight .gov get put back on disability, get under control rinse and repeat (everyone I know with epilepsy understands the cycle of the system requiring them to have seizures unless they have a wealthy relative to make them a ward)
 
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As a 64 year old truck driver, I wouldn't be too quick to spout off about people not "working hard enough" or being in a job that doesn't require much skill being not deserving of a living wage. Wages are priced by supply and demand; it doesn't matter what skill you have or don't have if your skills aren't in demand. I'm lucky and picked a decent trade that pays well but that doesn't say anything about how worthy I am for the money I make.
 
I think the problem with cheap cars is repairs are so expensive now that if you can’t hunt for good deals on parts and DIY most things on it, you’re quickly going to spend thousands any time it needs something.

Where I live even independent shops charge $200/hr labor. Dealers are even more.

Your $3K car can become a $10K car real quick at those prices, and then what do you have? A car that’s still worth $3K.
 
As a 64 year old truck driver, I wouldn't be too quick to spout off about people not "working hard enough" or being in a job that doesn't require much skill being not deserving of a living wage. Wages are priced by supply and demand; it doesn't matter what skill you have or don't have if your skills aren't in demand. I'm lucky and picked a decent trade that pays well but that doesn't say anything about how worthy I am for the money I make.
You didn't comprehend what I said , I said the trades pays well . I never said they don't deserve a fair wage . If your a broke healthy person it's a option to not be broke . Michigan has been hurting for skilled trades for years .
 
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