KBB says my Mazda has lost $4k value this year.

[Elkins45]

2016 Mazda6, manual transmission.

I have periodically checked the value since the crazy days of Covid, mostly just out of curiosity. I can’t remember precisely what it was worth at the beginning of this year but I just checked tonight and it’s down at least $4k.

I wonder if this is the break in the used car market everyone says has been coming? It figures it would hit just as I was thinking of trading

 

[Number_35]

2016 Mazda6, manual transmission.

I have periodically checked the value since the crazy days of Covid, mostly just out of curiosity. I can’t remember precisely what it was worth at the beginning of this year but I just checked tonight and it’s down at least $4k.

I wonder if this is the break in the used car market everyone says has been coming? It figures it would hit just as I was thinking of trading

Hopefully the replacement vehicle will have fallen in price proportionately.

 

[NiwradND]

Hopefully the replacement vehicle will have fallen in price proportionately.

you can always dream...........LOL.........Not with the new vehicle contracts where the workers want a 32 hour work week but get paid for 40 hours.

 

[SwampSurvivor]

Our Sentra has gone down about $1000 in the last few months. I expect it to go back up or at least stay where it is for now.

 

[Oillover]

Interesting.

I don't see the MSRP/sticker prices on new/newer vehicles changing.

 

[edyvw]

Interesting.

I don't see the MSRP/sticker prices on new/newer vehicles changing.

MSRP last 3 years wasn’t problem per se. It was”dealers fees” or “added market value “ that was an issue. That went down big time last few months. Toyota wanted $5-10k for Sienna last year. If one didn’t want to pay, you are waiting vehicle for 6+ months. I decided that vehicle wasn’t for us, could wait Grand HL (glad I didn’t) but I got slightly used Atlas (15k miles). Now, I get 2-3 calls a week from Toyota dealers asking me to “stop by” and negotiate. So, yeah, there is a movement in prices.

 

[atikovi]

KBB doesn't buy cars. Take their prices with a grain of salt.

 

[cptbarkey]

Interesting.

I don't see the MSRP/sticker prices on new/newer vehicles changing.

Used and new have always been on different trajectories. Anecdotally I'm seeing used prices "coming down" but in in such a market it might be catching a falling knife.

 

[wag123]

you can always dream...........LOL.........Not with the new vehicle contracts where the workers want a 32 hour work week but get paid for 40 hours.

The UAW didn't get their 32 hour work week.

 

[supton]

I wouldn’t mind a 32hr week… or the equivalent of a 20% raise.

 

[Cujet]

Maybe cars are better, however, business jets depreciate like crazy. $65.4M new purchase price, and they seem to drop about 4-7M per year depending on model and conditions. Operating a Gulfstream involves an annual budget of about $6.5M.

I always joke that the owner could fire the entire crew, never fly, and the budget would still be over $6.2M.

All silly numbers for sure. But my point is that vehicles have a cost per mile. And per year. The way to maximize one‘s money is to purchase carefully and operate it for its entire useful life.

The idea that used vehicles save money per mile can sometimes be in error. Especially today With stupidly high used car prices. As a well purchased new vehicle, kept till it is used up, can be very competitive per mile.

 

[andrew_j]

The manual

KBB doesn't buy cars. Take their prices with a grain of salt.

Correct they take actual data they can report on(multiple but not comprehensive set) and present results across.

 

[andrew_j]

I wouldn’t mind a 32hr week… or the equivalent of a 20% raise.

32 is short I have been working 35 hour work weeks in recent jobs and it’s nice. You just don’t waste those 5 hrs a week.

 

[Astro14]

2016 Mazda6, manual transmission.

I have periodically checked the value since the crazy days of Covid, mostly just out of curiosity. I can’t remember precisely what it was worth at the beginning of this year but I just checked tonight and it’s down at least $4k.

I wonder if this is the break in the used car market everyone says has been coming? It figures it would hit just as I was thinking of trading

How long did you think the bubble would last?

Used cars depreciate. That’s always been the case.

A weird period caused by the confluence of multiple factors, in which that wasn’t the case, was bound to come to an end.

 

[K20FA5]

At one point during Covid, my Silverado was worth more (on paper, of course) than I paid for it new!

 

[edyvw]

The UAW didn't get their 32 hour work week.

It was always a negotiating tactic. Push to the extreme and meet in the middle.

 

[supton]

32 is short I have been working 35 hour work weeks in recent jobs and it’s nice. You just don’t waste those 5 hrs a week.

I try not to waste my time in general. With flextime and WFH, I've gotten into the habit of tracking my time spent on a project, or just email (which is part of the job), to keep myself honest. What bugs me--but is still a legit use of my time--is when I'm in office and have a stream of people and questions. What time category is that? misc. The more time I'm in office, the more misc time I seem to have. I'm doing their bit to keep them going, but it's of no help to my projects. But it should count as part of my 40 hour week, right? [I'm salaried, so it's more of a guideline than a rule.]

Many weekends though I seem to waste Saturday in recovery mode, and it's only like Sun afternoon that I'm finally ready for the weekend. Uh... sometimes i wonders I wonder if I would like a 4/10 week, four days at 10hr each. Just bang out the work. Friday can be spent in recovery mode, the (hopefully) a nice productive Sat&Sun. One can dream...

Only 20 more years until every day ends in y!

 

[wag123]

I try not to waste my time in general. With flextime and WFH, I've gotten into the habit of tracking my time spent on a project, or just email (which is part of the job), to keep myself honest. What bugs me--but is still a legit use of my time--is when I'm in office and have a stream of people and questions. What time category is that? misc. The more time I'm in office, the more misc time I seem to have. I'm doing their bit to keep them going, but it's of no help to my projects. But it should count as part of my 40 hour week, right? [I'm salaried, so it's more of a guideline than a rule.]

Many weekends though I seem to waste Saturday in recovery mode, and it's only like Sun afternoon that I'm finally ready for the weekend. Uh... sometimes i wonders I wonder if I would like a 4/10 week, four days at 10hr each. Just bang out the work. Friday can be spent in recovery mode, the (hopefully) a nice productive Sat&Sun. One can dream...

Only 20 more years until every day ends in y!

A 4 day work week was the ultimate goal of the UAW. My guess is that rank-and-file workers would have been happy with 10 hour days if they could have gotten their 4 day work week. I would have been happy with that myself (never happened). Many jobs have gone to a 4 day work week, some school systems are now going to 4 day school weeks, and even some entire countries have gone to a 4 day work week (Australia, Austria, Belgium, Canada, Denmark, France, Germany, and Iceland. I wasn't aware that Canada had gone to a 4 day work week).

 

[supton]

A 4 day work week was the ultimate goal of the UAW. My guess is that rank-and-file workers would have been happy with 10 hour days if they could have gotten their 4 day work week. I would have been happy with that myself (never happened). Many jobs have gone to a 4 day work week, some school systems are now going to 4 day school weeks, and even some entire countries have gone to a 4 day work week (Australia, Austria, Belgium, Canada, Denmark, France, Germany, and Iceland. I wasn't aware that Canada had gone to a 4 day work week).

I can't quite see schools going to a 4 day week, in college I could have pulled 10 hour days--but not in grade school. My attention span isn't long enough, and I'm not sure many kids in the lower grades could hack that. Although parents might like that, when you have both parents working.

Am ambivalent about a 4 day workweek. Sounds great but once in a while I get onto a project and will work on it through the weekend. But then there are those weeks where I'd like to be anyplace else. Too bad, as we go into winter and short days and lousy days, I couldn't work extra and get more days off in the summer.

 

[i6pwr]

2016 Mazda6, manual transmission.

I have periodically checked the value since the crazy days of Covid, mostly just out of curiosity. I can’t remember precisely what it was worth at the beginning of this year but I just checked tonight and it’s down at least $4k.

I wonder if this is the break in the used car market everyone says has been coming? It figures it would hit just as I was thinking of trading

Are you the original owner, how is the maintenance history? FWIW, I try not to pay too much attention to the KBB prices with vehicles I own, from either buying new or used. I try to relate it slightly to PC building, once you build your rig, don't go back and look at prices....just use it...covid prices with vehicles is no exception.

I've had many conversations with others about selling a 20 MPG vehicle for a new 35 MPG vehicle, or even an EV, then the time it takes to break even.

I would prefer to drive my reliable 20 MPG family hauler then worry about someone else's used vehicle, especially after I have gone through mine and done what I can to keep it going.

I think the used vehicle market will remain strong, I don't like how automakers have moved forward with all the EV talk, the mandate provided for automakers is fueling this IMO.

Sidenote....ICE has their place, there's no way I'm loading my family for a long road trip to spend hours charging...that WON'T happen.

That being said, this is just a market ",re-adjust" for the over-inflated prices that have been the talk the last couple years.

Back on track, there's more $$ in my pocket with a used, cheap, reliable 20 MPG vehicle than a new $30K Corolla for the next 10 years at least. I feel this is where people need to be wise about their purchases. Battery tech is changing wildly and the next 5-7 years will open new doors with charging tech and capacity, so prices and vehicle options will be all over the place. The electric grid is my concern but for another topic.

A manual trans Mazda 6....nice car.