I’ve been watching the new car market all year long. People are obviously paying too much for new and a few year old vehicles of all types.
The interesting thing about this is the glut of cheap older cars still on the market. Im talking about 10+ years old they are just going for nothing even with plenty of lifespan left. It’s not like there is just nothing to drive. There is not enough $100k luxury SUVs to go around, but for 5-10k you can choose from dozens and dozens.
Is this related to the financing and the aggressive used flippers like Vroom/Carmax/ect bidding up the prices? It is harder to get loaned on an older vehicle with miles.
Are people that prideful that they simply cannot fathom driving an older but still good vehicle?
I recently bought a nice 06 Yukon, the first one i looked at and they took my lower offer instantly, glad to send it down the road. Looking again today theres tons of yukon tahoe escalades for sale all very affordable in the 05-06 range. Stepping to 07 and up body style, that doesnt look as old yet has arguably worse quality and the prices double or more.
We all know those old Camry are solid and go for nothing.
Toyota trucks and wranglers are consistently overpriced like usual.
Minivans that are older are very cheap. Theres a big waiting list for a nice new Sienna in the 40-55k price range after add on fees while perfectly good used ones rot on the market for $5k.
Anyone else notice this or is Utah just too dang rich to bother with these older vehicles?
The interesting thing about this is the glut of cheap older cars still on the market. Im talking about 10+ years old they are just going for nothing even with plenty of lifespan left. It’s not like there is just nothing to drive. There is not enough $100k luxury SUVs to go around, but for 5-10k you can choose from dozens and dozens.
Is this related to the financing and the aggressive used flippers like Vroom/Carmax/ect bidding up the prices? It is harder to get loaned on an older vehicle with miles.
Are people that prideful that they simply cannot fathom driving an older but still good vehicle?
I recently bought a nice 06 Yukon, the first one i looked at and they took my lower offer instantly, glad to send it down the road. Looking again today theres tons of yukon tahoe escalades for sale all very affordable in the 05-06 range. Stepping to 07 and up body style, that doesnt look as old yet has arguably worse quality and the prices double or more.
We all know those old Camry are solid and go for nothing.
Toyota trucks and wranglers are consistently overpriced like usual.
Minivans that are older are very cheap. Theres a big waiting list for a nice new Sienna in the 40-55k price range after add on fees while perfectly good used ones rot on the market for $5k.
Anyone else notice this or is Utah just too dang rich to bother with these older vehicles?