Is it Over? Used Vehicle Market

[brianl703]

Respectfully-some of us don't wish to drive beaters.....

I love driving beaters. Nobody wants to cut you off in traffic.

 

[JTK]

I'm hoping things get better in this regard. One of my boys will be needing a vehicle and there's little out there for someone just starting out. You have to be very lucky, very handy or have lots of money.

I track my vehicles trade-in values over the CarFax app I use to track maintenance. My Ram 1500 dropped 5-10%. The 2019 Pathfinder dropped about 15-20% and the 2015 Nissan Versa trade-in is what I paid for it private party 2 years ago.

 

[odie]

Smaller cars are going up . Checked ours and gained more value . Doesn't mean the dealer(s) will give you the quoted value at K.B.B. , Edmunds , N.A.D.A. and others .

 

[CKN]

Smaller cars are going up . Checked ours and gained more value . Who's to say that dealer(s) will give you the quoted value at K.B.B. , Edmunds , N.A.D.A. and others .

Had a friend trade in a 2016 Full Loaded XLT Explorer to Carmax for $16,000.00. A couple of days later it's on the website for $27,988. I haven't looked-but I find it hard to believe there is that much of a (book) spread-so I'm thinking the almost $28,000.00 is well beyond bluebook. She has an NEW Arcadia AT4 on order paying over MSRP. She says she is all in at $53,000.00.

 

[CKN]

goofball co-worker just bought a 2017 tahoe premiere edition(woolala) 117k no warranty for 40k....72mos loan...they will be upside down big time after all is said and done....

Yea-and 2017 is the first year of the AFM motor. Rolling the dice.....

 

[xgmad]

Respectfully-some of us don't wish to drive beaters...........I like my heated/cooled and ventilated front seats along with the
heated steering wheel and Bose stereo. OH-and the dual climate control is very nice.

you can unbeat a car, spend a grand or two and still would be cheaper than buying new.

 

[brianl703]

you can unbeat a car, spend a grand or two and still would be cheaper than buying new.

And why the assumption that a 23-year-old pickup is a beater? It passes emissions and safety inspections. The paint is a bit faded, but mechanically, it's in perfect condition.

 

[JTK]

And why the assumption that a 23-year-old pickup is a beater? It passes emissions and safety inspections. The paint is a bit faded, but mechanically, it's in perfect condition.

I think the problem for a lot of us is rust. A 7-8yr/old pickup is going to start to have rust issues in rust-belt areas unless the owner(s) have been very proactive. I've seen 2014 Chevy Silverados with the frames rusted to pieces, where the body doesn't look bad at all.

 

[Electromotive]

Talked to four big players in the field last night. (Vroom, Carvana, etc.)
The new line- nobody wants SUV's or Pickups anymore- down like 15%-20% price they are paying.
Hybrids were actually up as I was getting quotes to sell one.

It seems to me dealers in my area are still very proud of their for retail sale used vehicle selection (both trucks and cars of all types) and they are priced accordingly.

 

[xgmad]

And why the assumption that a 23-year-old pickup is a beater? It passes emissions and safety inspections. The paint is a bit faded, but mechanically, it's in perfect condition.

and you can always repaint a car, fix what is needed, upgrade what you want, and it should still be cheaper than buying new.

 

[CKN]

and you can always repaint a car, fix what is needed, upgrade what you want, and it should still be cheaper than buying new.

This is not a thread about what is cheaper. It's if you want to drive a old car regardless of how much lip stuck you put on it.

 

[jeepman3071]

Respectfully-some of us don't wish to drive beaters...........I like my heated/cooled and ventilated front seats along with the
heated steering wheel and Bose stereo. OH-and the dual climate control is very nice.

Many of the landscaping companies I do small engine work for own trucks under 5 years old (within warranty) or lease them. They want something they can jump in, plow driveways all night, haul trailers around, etc, and not have it be at the shop constantly. Once it has a few years on it they turn it in.

 

[brianl703]

I think the problem for a lot of us is rust. A 7-8yr/old pickup is going to start to have rust issues in rust-belt areas unless the owner(s) have been very proactive. I've seen 2014 Chevy Silverados with the frames rusted to pieces, where the body doesn't look bad at all.

Rust doesn't tend to be an issue in this area. What can be an issue in any area is if you have a pickup and you drive in mud and never clean it off.

 

[01rangerxl]

There may be a little cool down, as in something might not sell immediately at a high price, but I'm still seeing a lot of high prices for trucks and SUVs, and a fair amount of demand for anything that isn't beat up.

I think the effect of gas prices is blown a little out of proportion, though of course dealers will leverage that as much as they can. Gas has been over $4 before, and that was 15 years ago when you could still get a really nice new or newer truck for $30k. Most trucks now get better gas mileage than my Explorers.

It may just be that the market for people who will pay really high prices has been somewhat satisfied, and supply/demand is evening out a little, but I don't think there will be a huge drop to where there are abundant, well priced trucks with low miles and wear.

 

[Zee09]

There may be a little cool down, as in something might not sell immediately at a high price, but I'm still seeing a lot of high prices for trucks and SUVs, and a fair amount of demand for anything that isn't beat up.

I think the effect of gas prices is blown a little out of proportion, though of course dealers will leverage that as much as they can. Gas has been over $4 before, and that was 15 years ago when you could still get a really nice new or newer truck for $30k. Most trucks now get better gas mileage than my Explorers.

It may just be that the market for people who will pay really high prices has been somewhat satisfied, and supply/demand is evening out a little, but I don't think there will be a huge drop to where there are abundant, well priced trucks with low miles and wear.

And you get people like myself that when gas goes up I lose interest in vehicles as a hobby and remember they are tools of transportation and
I suspect I am not alone and the dealerships here have throttled back some and now are calling where before they didn't have to.

Also most have over MSRP fatigue and will no longer entertain that price point.

 

[Imadentguy]

goofball co-worker just bought a 2017 tahoe premiere edition(woolala) 117k no warranty for 40k....72mos loan...they will be upside down big time after all is said and done....

I cant even believe that banks are financing this crap. Waaaaay to liberal with their money. I work in the business and most all loans pulling out of the lot are hooked on 72. Such a terrible idea. A fool and his money…..

 

[Bird's_Garage]

Looks like I finally timed something right. At the beginning of March, I sold my 19 F150 to Carvana for 38500. I bought it new in 2019 for 32500 out the door. I loved the truck but I knew I'd never see appreciation like that. This entire market has been so strange.

 

[supton]

I think the problem for a lot of us is rust. A 7-8yr/old pickup is going to start to have rust issues in rust-belt areas unless the owner(s) have been very proactive. I've seen 2014 Chevy Silverados with the frames rusted to pieces, where the body doesn't look bad at all.

Yep. I wouldn’t mind going south to get an older rust free vehicle, but anything local is going to be in hard shape after 10 or so years. And then repairs: if its a toy then no big deal, but if its a working vehicle then up time matters.

 

[earthbound]

just checked my 19' Honda crv...still very strong(ridiculous) price....

 

[levi]

Also most have over MSRP fatigue and will no longer entertain that price point.

Fatigue. I like that. Guess I've always been fatigued on new car prices.