The dealer auctions are shocking the hell out of me.

[macarose]

You always see the dogfights and helium high valuations, but a few from yesterday really took the cake.

15 year old base model 2006 Toyota Sienna CE sold for $10,400 plus the $400 buy fee. It did have only 28k miles but where is the profit from here?

19 year old 2002 Chrysler PT Cruiser with 67k went for nearly double the price of one I bought last month. About $4000 when you add the buy fee. It wasn't anything special other than a documented timing belt replacement.

Finally, this is the one I wrote about 24 year old Jeep Wrangler with the tin worm that has spent its entire life in Massachusetts. Sold for nearly $10,000 even if you include the auction's buy fee. A rust free example from down south would have been worth at least $5,000 more. This one will need rose colored glasses once it's put on a lift.

Still, a Sahara with the 5-speed, four-wheel-drive and hard top is a great overall package. I rarely see these TJ models on the road anymore. Most spend 97+% of their time in a garage.

Dealers Duke It Out Over Rusty 24-Year-Old Jeep At Auction

The used cars cost more right now than they ever have before because of dealers clamoring to buy normal rides like this one at auction.

www.motor1.com

 

[BMWTurboDzl]

Another reason why I should sell my 4-series.

 

[ad244]

Another reason why I should sell my 4-series.

Theres a long list there already....

 

[BMWTurboDzl]

Theres a long list there already....

As in they're not selling?

 

[mrsilv04]

But that Jeep did have a nice set of KO's on it... but a dried out factory spare.

Here's the one that I saw this morning that shocked me, it was at a Toyota dealership.
2000 Tacoma (21 years old) Base model, RWD, regular cab, 105,000 miles. 2 accdients, owned in 6 different states: $10,000.

 

[Hermann]

Had a cash offer for '18 F-150 in sig from a Ford dealer through KBB service for what I paid 3+ years ago. CarFax thinks I deserve even more.

 

[Chris142]

You always see the dogfights and helium high valuations, but a few from yesterday really took the cake.

15 year old base model 2006 Toyota Sienna CE sold for $10,400 plus the $400 buy fee. It did have only 28k miles but where is the profit from here?

19 year old 2002 Chrysler PT Cruiser with 67k went for nearly double the price of one I bought last month. About $4000 when you add the buy fee. It wasn't anything special other than a documented timing belt replacement.

Finally, this is the one I wrote about 24 year old Jeep Wrangler with the tin worm that has spent its entire life in Massachusetts. Sold for nearly $10,000 even if you include the auction's buy fee. A rust free example from down south would have been worth at least $5,000 more. This one will need rose colored glasses once it's put on a lift.

Still, a Sahara with the 5-speed, four-wheel-drive and hard top is a great overall package. I rarely see these TJ models on the road anymore. Most spend 97+% of their time in a garage.

Dealers Duke It Out Over Rusty 24-Year-Old Jeep At Auction

The used cars cost more right now than they ever have before because of dealers clamoring to buy normal rides like this one at auction.

www.motor1.com

I still see tons of yj' s and TJ's here every day. I daily my 2002 tj.

 

[Kira]

My friend's son, dismayed with his 2019 Frontier's gas mileage, is seriously considering trading the truck in for a more economical something.

It's a 2019 Frontier w/<40K....gotta be worth ~$20,000. He must figure out what to do.

 

[dja4260]

Carvana just picked up by Dodge Grand Caravan for 25k. I paid 17k 10 months ago. The transition took 6 minutes..

 

[CharlesInCharge]

This is bananas. I'd be very tempted to sell a few, but the life lessons I've learned include keeping a known good quantity/quality item even if selling is tempting. Hard and time consuming to replace a known good working reliable vehicle. The other problem is inflation. You might get $5000 today, but if you need a vehicle, you're also paying a premium and the money you receive is quickly depreciating...

I'll keep mine, but it's nutty to see used cars going for more than they were a few years ago!

 

[atikovi]

It will all come crashing down one of these days when gas prices spike or war in the middle east breaks out. Dealers overpaying and having a lot full of cars and trucks they are $20,000 in to and can't get $10 or $15K for.

 

[motorcity]

Take a look at insurance auctions for wreck. People are pay crazy money for wrecks. I got lucky and picked up a nice 2019 Grand Cherokee for a pretty decent price.. It was pure luck, being at the right place at the right time.

 

[10WSmuckers]

All of that junk will end up on Buy Here Pay Here lots across the country. They get about half the car's purchase price in bi-weekly payments before they have to repo it when Chump number 1 can't afford 20 percent interest. Then they put it back on their lot and get another chump to sign and agree to an even more absurd and borderline illegal loan term. Then it's rinse and repeat for pure profit until the car is stolen or crashed. It's how that $4000 PT Cruiser can get you $8000 if you're lucky.

 

[joekingcorvette]

These crazy car and truck prices will not continue forever. It's only a matter of time and there will be some steals out there again. I believe they are going down in price right now and will continue a downward trend. The auto makers need parts to complete the new vehicles which is half the problem.

 

[PF52]

I still see tons of yj' s and TJ's here every day. I daily my 2002 tj.

I believe it, considering where you live. They're super scarce here nowadays.

 

[Lyman]

I believe it, considering where you live. They're super scarce here nowadays.

They must all be down here. I see them for sale everywhere. Though they are bringing a premium price.

 

[CKN]

These crazy car and truck prices will not continue forever. It's only a matter of time and there will be some steals out there again. I believe they are going down in price right now and will continue a downward trend. The auto makers need parts to complete the new vehicles which is half the problem.

BITOG translation- A $5,000.00 beater with less than 300,000 miles for a reasonable price.

 

[PeterGreen]

This thread is making me want to stick with my car since I am the original owner.

 

[Hillbilly Deluxe]

I’m pretty sure the high priced car bubble is deflating. Not sure it will bust but prices are receding.

 

[WagonWheel]

I’m pretty sure the high priced car bubble is deflating. Not sure it will bust but prices are receding.

Does anyone have access to the Manheim Used Vehicle report? That will tell you in more precise terms. They summary from the July report ( via Cox Auto) shows used wholesale prices coming down but there has since been more chip shortage downtimes, so perhaps they are bulking up on used inventory.