The Chevy dealer near me has no used cars on their used car lot.
Crazy Used Prices....Again....
- Thread starter dareo
- Start date
Used cars are a huge profit center, if they don't have enough used it's going to affect new prices next.
Its not insane if there are buyers at those prices.
Also paranoia combined with boredom listening to the hype machine.
Around here Housing sales have dropped from 50-70 units a month to 8 while the number of homes For sale on the market has tripled yet prices are running 50% higher than last year go figure
Around here if you find a manual on a dealer lot Especially 4wd it’s usually double the price of an automatic Version of the same car.
Years ago I tried to trade my fully optioned 50,000 mile 2001 Dodge Ram club cab 2wd 5.2 auto for a
base
2000 Dodge Ram std long box 2wd 5.2 5mt 80,000 miles no ac no carpet, bench Seat
And the dealer didn’t Want the trade, he was asking $10000 For a base 2wd and figured my truck which was in much better shape wasn’t worth $1500, needless to say I ran from that deal, his truck wasn’t worth more than $3500 And mine was likely worth more than his.
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You should have gotten a pic and posted it for us. Would be an interesting topic.
I should have. I don't remember many of them, but for being a Lincoln only dealer there was some odd vehicles on there. Most if not all were 2016+, however there were some odd ones like a 2016 Sonata, several random Ford CUV/SUV's like Escape's, 2016 Honda Pilot, 2017 Odyssey, things like that. It was a very odd mix.
I'm not surprised the used market is so baron, I swear since C19 hit I can't BELIEVE the money people are spending on their old cars at my shop. Keep in mind, these are people who haven't hardly driven them in 3-6 months. $1,500-$2k tickets have been PLENTIFUL lately. That, and the cat. con. theft around here is still rampant, I just did a set on a 2017 Chevy Express that ran $3,500 OTD. Prius' have been especially hard hit, that's a $1,300 repair (or $2,600 if it's low miles and the insurance pops for OE parts). I've seen maybe 15 Prius' with stolen cats since this whole thing started, and slightly before. I've been in the industry 15 years and can NEVER remember a cat being stolen outside of the random one off job.
Heck, Prius cat theft is SO bad now that a company has started making CUSTOM SHIELDS to protect them. We just installed our first one the other day.
Take a look: Prius cat shield
There were a lot of cat thefts at the commuter train lots on keep Cherokees and other SUVs a few years ago. I guess with a battery powered sawzall and enough ground clearance it's easy to remove.
Hmmm... might be a good time to start thinning the herd and selling off some cars.
I was at my Lexus dealer today.
They told me they can't get used cars; they wish they could.
They told me they can't get used cars; they wish they could.
That's what I'm thinking.
Sell two out of the fleet of three, sit on the money and buy a new Bronco or ranger next spring.
I've noticed a dearth of project cars on CL. But most of them seem to be actually done vehicles, with a few projects tossed in. I often will search for pre-'99 (no title, no emissions) and this summer has brought out "many" more than I recall in any month prior.
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One thing I wouldn’t do, I wouldn’t buy a used truck (2-3 years old). They put these things out front at the dealers and two rows behind them the new ones are almost the same price with rebates. Seriously. Here they have a 2015 $28,000 truck sitting there with 60,000 miles on it and the new one is behind it for $33,000 with rebates. It’s the strangest thing I’ve ever seen...don’t know why people even look at them
Because many buyers don't do their homework. They were told that 2-3 year old vehicles have a lot of depreciation and are good buys. These days when the economy is bad there are better brand new vehicles with incentives to be had if you time it right.
As for project cars some people will want to sell now instead of keeping the vehicles another year.
Vehicles have gotten more expensive so folks are holding onto their cars longer than ever. There are still decent deals to be had on new sedans, but SUVs and trucks - forget it. Most working class folks can’t afford them (without large long term loans). Most folks on working class budgets are left with whatever reasonably priced used sedans are left, and there’s not enough of them.
This pretty much sums up exactly what happened to the value of my 2011 Mazda6 with 145K miles on it. I paid $19k new for this car and it’s still worth $5k. It was worth around $4k earlier this year. When I was in college I bought an 80k mile 7yr old car for $2,600. Double the miles and double the price. The used car values aren’t worth it in my opinion. If you can afford it, buy new and work to get the best deal possible. Maintain and keep for 15years.
This pretty much sums up exactly what happened to the value of my 2011 Mazda6 with 145K miles on it. I paid $19k new for this car and it’s still worth $5k. It was worth around $4k earlier this year. When I was in college I bought an 80k mile 7yr old car for $2,600. Double the miles and double the price. The used car values aren’t worth it in my opinion. If you can afford it, buy new and work to get the best deal possible. Maintain and keep for 15years.
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Wow, cat shields for Prii. Smart, but also sad that there is a need for such a thing.
Friends Deal:
2019 SuperCrew XLT 301A 4x4 2.7EB New
$33,520 (after a private offer coupon) in late April. Of course that was when the dealers were hungry and Ford was offering huge incentives.
Now the situation is reversed with a shortage of new vehicles to buy and no more glut of trades they can't take to auction so a shortage is driving up used values.
Production shutdowns, tariffs, plus people afraid to get on the subway. Hope my Soul engine doesn't seize up.
