I've paid careful attention to used car prices, as over the years I've picked up excellent used cars basically at the nexus of their lowest prices while meeting their highest remaining lifespan. For example, generally about year 20+/-, one could get a well maintained vehicle for about 1/5th original cost yet about 3/4 to 1/2 remaining lifespan (e.g. an originally $30,000 vehicle designed to last 300,000 miles might have cost $6,000 and have 75-150k miles.
I recognize the macro and micro economics of what's happening, with the supply chain problems, parts shortages, inventory problems, and probably 20% real inflation across the board.
But yowza, anything decent in the used market is 2x Kelly Blue Book, which seemingly has not been updated. And even worn out junk is commanding/asking far more than one might expect. Trashed vehicles with reported problems like "mysterious oil leak" or "coolant loss" or "shifting problems" (e.g. major financial expenses) are listed for more than excellent examples might have been in 2019. This is nuts! Further, it seems that dealership employees are no longer polite and accommodating; the few cars I've called on have been greeted by rude and short salespersons.
I'm thankful I don't need a vehicle right now and feel bad for anyone that needs to buy something, because this situation is out of hand.
I recognize the macro and micro economics of what's happening, with the supply chain problems, parts shortages, inventory problems, and probably 20% real inflation across the board.
But yowza, anything decent in the used market is 2x Kelly Blue Book, which seemingly has not been updated. And even worn out junk is commanding/asking far more than one might expect. Trashed vehicles with reported problems like "mysterious oil leak" or "coolant loss" or "shifting problems" (e.g. major financial expenses) are listed for more than excellent examples might have been in 2019. This is nuts! Further, it seems that dealership employees are no longer polite and accommodating; the few cars I've called on have been greeted by rude and short salespersons.
I'm thankful I don't need a vehicle right now and feel bad for anyone that needs to buy something, because this situation is out of hand.