Also it seems that the vehicles that people own they are fixing. I called a few local shops and major chains to have a simple tire balance, and some are booked weeks out!!
How crazy high the used car market is in even salvage vehicles
- Thread starter GON
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Car lots in my area are empty and the supply from factories is at best a trickle.
There's a guy out of CA that specializes in rebuilds of high end cars. This would be right up his alley. He does a nice job. Some customers will buy a wreck and have him fix it for their personal car. I think his channel is called LNC Collision. Mostly S and E class, Porsche, Lambo, etc.
GON
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Even in this crazy used car market, I sense that car would sell, prior to accident (non-salvage title) in the $25k to $32k range. Its a very nice car but other than low mileage, it is a run of the mill S-class, that is now three generations old. It is a W221, there is now a W222, and just released W223.
At a likely $25k to 32k selling price in typical non-salvage condition.... find it hard to stomach it will sell at a salvage auction, with who knows how many unseen issues from the few pictures, for north of $15k including fees..... If it was a AMG, MAYBE at $15k... but this particular car has few of the highly desired options/ configurations.
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This is my problem with a lot of salvage vehicles - I know there are some outliers but most mainstream cars don't sell at enough of a discount to make it worth it. A branded title and damaged vehicle should command much more of a discount off a clean title and undamaged car than they do.
Do we have any (cited) sources for this statement?
Salvage value also impacts an insurance company's decision to total a vehicle. I can see a Gladiator bringing in good money at auction, so that can sway them to total a vehicle if it's close.
GON
$100 Site Donor 2024
Bingo!
And the insurance company itself may play a role. USAA is known to do things top shelf in repairs, so their estimated repair cost may be very different than a insurer like Progressive, which has a reputation of fighting every item to keep the repair costs low.
another false analogy thats being used is that used cars are so scarce that the value on used cars has risen 50%, come on man really so if my KBB value on my 2013 tacoma is $20k and now its value has risen to $40k dollars get real, if anyone wants my tacoma for $40k please come and get it right away and i'll take the $40k and drop it on a new 2021 tacoma and drive it off the lot today, its all BS using a false narrative and the news media injecting panic, to assist in raising car prices and induce a panic buying situation that benefits auto makers. this is just another money making scam to get rid of the gasoline powered vehicles off the lot and to introduce the new green deal EV vehcles.
dont believe what you read and half of what you see, if you really want a new car you can find one but get ready to fork over more money for it since they(the military/industrial complex) started a false narrative thru the media that theres a lack of cars new and used to purchase which is total bull
You sound ridiculous.
Around here, there is a shortage of trucks. I just traded for a new one, many lots have no 2500s, they sell online before even arriving at the dealer.
What would you guess, without looking, that my traded in 03 avalanche with 87k miles and under body rust is listed for?
The dealers are hiding all the cars around town so their lots look empty!
its called manipulating the market its been common practice for a long time to get up sales and prices high
what ever the KBB value of your avalanche plus 50% of that value, so says the talking heads on FACEBOOK and TWITTER, probably car salesman
Throw out a number. Don't go look it up.
It would help if the math was correct. If you had a 20k car and it increased 50% in value, that would make it a 30k vehicle, not a 40k vehicle. For 40k, that would be 100%.
I expect production of all cars to drop about 40% this year.
Automakers are not going to lose money on full priced cars, especially if there is less of them. Already seen a Silverado and a 22 Equinox go for a few grand over MSRP….
It’s why I am buying my lease for sure now……..
Automakers are not going to lose money on full priced cars, especially if there is less of them. Already seen a Silverado and a 22 Equinox go for a few grand over MSRP….
It’s why I am buying my lease for sure now……..
I think you're way way off. I think total sales for 2019 were about 17 million cars and now the July numbers say that the total sales will be about 16.5 million for the year 2021. That's a far cry from a 40% drop off.
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