Price shock with used cars

[NO2]

Why not just buy a new premium Outback that includes eyesight? Should be under $30K. $17.5K for a 5 year old car with 60Kmi seems a bit much.

 

[A_Spruce]

When it comes to used vehicle pricing, it seems most people are smoking crack when they come up with their asking price. When I bought my Burb 19 months ago, 20 year old, ragged out examples were on the block for 5k to 8k. It was insane! Half of them weren't even detailing the vehicle, apparently thinking the extra "patina" would fetch them the extra coin! :roll: I've been periodically looking for a used truck on Craigslist, same thing, 20 year old, ragged out versions still have 7k or more on them. Don't even get me started on all the salvage titled vehicles out there who's owners are trying to get showroom new pricing for, or the [censored] backyard dealers buying auction cars and misrepresenting themselves and the vehicles. When I do find a worthy candidate, I use both KBB and NADA to determine a rough street value. I've got a number of other sites to track for recalls, problems, vin check, etc.

 

[odotb]

I have a bought new 2005 silverado Z71 extended cab with 85,000 miles. It has been well maintained and looks good. I was offered $12,000 cash for it about a month ago. I started to take it, but realized that a new one like it, would probably be around 50 grand. I can keep my old truck and buy a pretty nice new car for 38 grand. The price of the new stuff is driving up the price of the used. JMHO.

 

[jeepman3071]

Originally Posted by odotb

I have a bought new 2005 silverado Z71 extended cab with 85,000 miles. It has been well maintained and looks good. I was offered $12,000 cash for it about a month ago. I started to take it, but realized that a new one like it, would probably be around 50 grand. I can keep my old truck and buy a pretty nice new car for 38 grand. The price of the new stuff is driving up the price of the used. JMHO.

100% Especially now, people are starting to become a bit scared to pay that much with the economy tanking and jobs being lost.

 

[Lubener]

Originally Posted by dlundblad

How does everyone handle this? An older truck (2004 Silverado. Reg cab, short bed, 4x4) at the local Chevy dealer caught my eye yesterday. Looked it over, took it for a test drive, and was relatively happy minus the weak AC. It was 45% above KBB value.

I was told be a reliable source that used car prices will be coming down towards year end. Too high now, even at auctions.

 

[caprice_2nv]

Originally Posted by dlundblad

How does everyone handle this? An older truck (2004 Silverado. Reg cab, short bed, 4x4) at the local Chevy dealer caught my eye yesterday. Looked it over, took it for a test drive, and was relatively happy minus the weak AC. It was 45% above KBB value.

I was basically given my 05 Silverado by my employer, he even paid the safety (which cost $200). I was price shocked when I looked at other similar trucks, which I would replace it with if I had to. Now I'm just doing my best to baby this one, to keep it on the road for years. Getting new cab corners and rocker panels this fall even though they're just starting to go. Truck prices are crazy. Especially 99-07 gm trucks or Toyota's.

 

[JeffKeryk]

Originally Posted by odotb

I have a bought new 2005 silverado Z71 extended cab with 85,000 miles. It has been well maintained and looks good. I was offered $12,000 cash for it about a month ago. I started to take it, but realized that a new one like it, would probably be around 50 grand. I can keep my old truck and buy a pretty nice new car for 38 grand. The price of the new stuff is driving up the price of the used. JMHO.

Rarely does a month go by without someone wanting to buy our old Tundra. People could care less about the other cars, but the Tundra gets all the attention. Last week a guy offered me the option of borrowing it back for 2 years when I needed it. I kept telling him it was not for sale, but he wouldn't take no for an answer. TBT, I don't know what it is worth.

 

[JTK]

Yep. This is mostly in regards to trucks. Some sedans, hatchbacks and CUVs are going lightly used for half their original MSRP.

 

[supton]

Is now the time to off-load a truck then? I don't know what I'd want to replace it with (actually kinda like it and all) but one has to take advantage of the times and all.

 

[caprice_2nv]

Originally Posted by supton

Is now the time to off-load a truck then? I don't know what I'd want to replace it with (actually kinda like it and all) but one has to take advantage of the times and all.

Are things going to change though? I need my truck for work and maybe because I'm surrounded by other trucks owned by all the different trades in construction where I work, I feel like anywhere that there is a lot of new construction happening, trucks are going to be in high demand.

 

[zzyzzx]

1983 ford EXP for sale, asking price $7500, actual sale price $2500. discussion here: https://www.feoa.net/threads/1983-exp-for-sale-in-oregon.115456/

 

[zzyzzx]

Originally Posted by odotb

The price of the new stuff is driving up the price of the used. JMHO.

That and I have to wonder of the high price of new cars has also artificially inflated the prices of car parts as well.

 

[supton]

Originally Posted by caprice_2nv

Originally Posted by supton

Is now the time to off-load a truck then? I don't know what I'd want to replace it with (actually kinda like it and all) but one has to take advantage of the times and all.

Are things going to change though? I need my truck for work and maybe because I'm surrounded by other trucks owned by all the different trades in construction where I work, I feel like anywhere that there is a lot of new construction happening, trucks are going to be in high demand.

I'm sure that things will revert back to the norm. Clearly not soon but in a few years we will be back to where we were six months ago. Old habits never die.

 

[SwampSurvivor]

Used trucks are especially ridiculous. 3 or 4 year old 1/2 ton trucks are going for $35-$40k. I could go and order myself a base model brand new one for that!

 

[dareo]

Inflation hurts. Too many people can't afford a brand new vehicle so they inflate the used market. Only when the trend to buying mostly new returns will the low priced used market exist.

 

[javacontour]

With production of new vehicles down as well as money flooding into some consumers pockets, due to that which we cannot speak, markets are distorted right now.

 

[Gene K]

I think what people are willing to pay for a little fluff is a little rediculous. You can buy the same basic truck with the same cab, wheelbase and drivetrain and pay nearly double for the top trim level. And a 5 year old one of the top trim level.with a 130,000 mi brings as much as the lower trim new one.

 

[Jason2007]

I just picked up a 2018 Nissan Frontier SV 4x4 Crew Cab with 36k for $19,000. I've had the fancy 1/2 and 3/4 but this little truck does all I need. Good deals are out there if you are willing to look around for them.

 

[stranger706]

Truck prices are insane. Used or new.

When I was signing the papers inside the dealer for my Mustang, the guy in the cubicle on my right and the guy in the cubicle on my left were both buying F150s. Both of them were Limited models with sticker prices over $70k. NOT diesels either. Or Raptors. Regular gas ecoboost models.

I was the cheap ass in there buying my 37k Mustang. And my salesman was like yeah thats pretty normal actually. For every Mustang we sell about 10 F150s.

 

[OppositeLocK]

Truck prices are insane. Used or new.

When I was signing the papers inside the dealer for my Mustang, the guy in the cubicle on my right and the guy in the cubicle on my left were both buying F150s. Both of them were Limited models with sticker prices over $70k. NOT diesels either. Or Raptors. Regular gas ecoboost models.

I was the cheap ass in there buying my 37k Mustang. And my salesman was like yeah thats pretty normal actually. For every Mustang we sell about 10 F150s.

Yeah but it's easy to see why that is. The modern trucks are:

- Luxury level comfortable
- Capable
- Safe
- Quite fuel efficient for their size
- Not that expensive or difficult to maintain
- Cheap to insure
- Have luxuries, fits, finishes available previously only in S Class Mercedes.
- Have virtually all tech features out there
- Can be status symbols if you want
- Powerful engines and are quicker than most cars and suvs

If you can deal with the size, it's like driving your living room down the road. Trucks make a lot of sense all around.