Re-Inflation Fears: Used Car Prices Record First Uptick In Four Months On Tighter Than Normal Supply

[Frankrank]

Not much but stalls the downward trend
Manheim

 

[CKN]

I understand there has been downward pressure at the auction level. There has been very little price reductions on the dealer level.

 

[BMWTurboDzl]

Not surprised. Probably a combination of long financing terms (owner less willing to unload their existing cars) combined with limited supply of pandemic era off-lease vehicles.

 

[Leo99]

The high prices of new cars has many people sticker-shocked and looking at used cars.

 

[dishdude]

Manufacturers and dealers have been really greedy the last two years, it's going to take something a huge downturn in demand for them to face reality.

 

[CKN]

The high prices of new cars has many people sticker-shocked and looking at used cars.

The uptick in interest rates haven't helped. Got very lucky with a credit union sale a couple of weeks ago-4.99%. I refinanced my wife's 2022 Highlander at this rate for preferred borrowers.

 

[cptbarkey]

This is a bit more informative then the dumpster fire that is zerohedge.

https://www.coxautoinc.com/market-insights/cox-automotive-auto-market-report-august-15-2023/

 

[CKN]

This is a bit more informative then the dumpster fire that is zerohedge.

https://www.coxautoinc.com/market-insights/cox-automotive-auto-market-report-august-15-2023/

That's a great cure for insomnia.

 

[cptbarkey]

That's a great cure for insomnia.

I'll take and share actual data vs sources from a foil hat garbage dump any day of the week.

 

[Rmay635703]

Meh, 5% drops in wholesale in a week

 

[gfh77665]

Headlines, I mean, clickbait was screaming "TURMOIL!!!" last week, LOL.

 

[sloinker]

I noticed all the dealerships around town now have full lots. They were 95% empty a 1-2 years ago. Not making any statements or prognostications but if you have $$$ there are now cars to be had on the lot.

 

[walterjay]

There are some deals on new cars to be had if you shop carefully. Recently bought below msrp with no money down and 0% financing for 48 months.

 

[alarmguy]

The high prices of new cars has many people sticker-shocked and looking at used cars.

Yup, sooner or later we need a "reset" in car prices and options. I guess that will not happen until people stop taking out massive auto loans. Oh, I mean an auto mortgage.

 

[KrisZ]

A very large number of used cars are actually going overseas, because the shipping costs are extremely cheap now. I guess we don’t export as much as we used to.

I have family and friend in Canada and Europe, trust me when I say this, Americans were hit the least by the inflation. Canadian and European citizens were hit much harder.