Staggering inflated used car prices!

[buster]

New Car Price Keeps Climbing, with Average Now at Almost $47,100

Reduced supply, increased demand: It all adds up to higher prices for the new-car-buying public.

www.caranddriver.com

 

[Dave Hess]

Each loan is created individually; however, the rule of the thumb for our underwriters states the one should be less than 50% of his monthly gross DTI obligations in order to be approved

On Monday I’ll go and look for a bill of sale that in a way stood out among others; he got into a 22 BMW X7 model for a pocket change of $110K OTD price

Doctors are wealthy and can afford $110K vehicles.

70% of the USA economy is consumer spending and lots of people still spending big $$$.

 

[zzyzzx]

I manage a small retail store garage. We are busier than ever bc people are fixing more old cars that they would have gotten rid of before.

I bet you have some really good stories about this as well.

 

[OVERKILL]

My buddy bought an EcoDiesel Grand Cherokee before all this madness for $31K. He messaged me last night and told me he was offered $41K for it by a dealer. Totally insane!

 

[SwampSurvivor]

I came across the listing for my Forester. It was listed at $25K back in October. It's not listed any more so I'm assuming it sold at or near that price. Nonfunctional AC and one "accident" according to carfax.

I paid $21,9 for it new back in October of 2017.

I also paid $3700 to replace it with a 20 year old vehicle with 123,000 miles!

 

[JoelB]

I had to come to this thread to share one of the craziest prices I've seen since this all took off.

Carvana has a 2010 Yaris sedan base with an automatic. Steel wheels, silver, basic vehicle. 61k miles. $13,950. I have to imagine that car stickered for something like $15k 11 YEARS AGO.

 

[dishdude]

I had to come to this thread to share one of the craziest prices I've seen since this all took off.

Carvana has a 2010 Yaris sedan base with an automatic. Steel wheels, silver, basic vehicle. 61k miles. $13,950. I have to imagine that car stickered for something like $15k 11 YEARS AGO.

I had to look this up, I needed a good laugh!

 

[supton]

I had to look this up, I needed a good laugh!

View attachment 84376View attachment 84377

64k to 89k miles. Barely broken in.

Heck they are so new they probably just got their first oil change.

 

[ad244]

Wow a Chevy Spark for $15,000.... Thats nuts

 

[macarose]

I have been interviewed by NPR and the Wall Street Journal about this very topic.

My advice comes down to 10 words.

Don't spend money.
Don't buy anything.
Sell your extra car.

If your daily driver can last until 2030 then just ignore the marketplace. The automakers and their overindebted dealer networks won't have anything worth buying until EVs become cheap and common.

 

[CKN]

I have been interviewed by NPR and the Wall Street Journal about this very topic.

My advice comes down to 10 words.

Don't spend money.
Don't buy anything.
Sell your extra car.

If your daily driver can last until 2030 then just ignore the marketplace. The automakers and their overindebted dealer networks won't have anything worth buying until EVs become cheap and common.

Disagree. Vehicles excluded. If you need an appliance or other big ticket item now is the time to buy- it will only go up in price if you wait. It used to be that good could count on construction costs going up 10% a year, now costs are much higher .

 

[deanm11]

Don't buy anything? You can still buy smart if you need to.

Order most Fords for 3-4% below invoice (not MSRP) from a PA or IA dealer. My 2022 Mustang GT is being built today, ordered at Thanksgiving. What semiconductor shortage? With the $1000 Ford rebate that showed up I'm at least $4000 below MSRP. What's wrong with that? Need an AWD family car? Go and pay about MSRP on an Impreza.. good cheap car around $23k.