Used prices to rise again?

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The price of used cars has been falling steadily, and steeply, for much of the last year. Unfortunately for car buyers, that could be about to change.

Wholesale prices for used cars being sold at auction have risen sharply in the last few weeks, according to industry data. Higher retail prices on used car dealer lots are likely to be close behind.

According to data from Manheim, the largest wholesale automotive marketplace, prices jumped 4% in just the last two weeks, an unusually large increase in such a short time period. While many in the industry expected the drop in prices wouldn't last, the sudden increase caught many by surprise.

I was kinda hoping to score another vehicle come spring/summer. I guess pricing could change by then, so maybe this is just another blip, and I shouldn't read too much into it. That said, I've been not looking the last couple of weeks, don't feel like crawling under anything while snow is on the ground, I can still wait a few months.
 
I've noticed an increase in local value on CL around here lately.
Still a lot of delusional dreamers selling but definitely noticed a drop in the ridiculousness we saw during Covid at it's peak.
 
Its possible - supply and demand. However one of the things some of the tubers were talking about a couple months ago is how wholesale prices have dropped but retail prices have not - so?

At some point no one is going to want these cars. At the end of the day most people buy the payment not the car, and interest rates are still rising.
 
Tax return money might cause a temporary blip higher. Another Fed rate increase will probably bring prices down a bit more.
 
Prices are going to go up, expect worse…

I too would expect prices to fall, but locally around here, they are not. Somehow, while even slower-dealerships are still selling cars. Many of them are in good enough shape to hold on to the “adjustment”- in which prices will not only stay high- but will continue to rise…

Blame some of this on most newer cars being crap. Local yards are starting to fill up with late model “turbo’s” or Tech cars folks can’t afford to fix. Many just but another. My local yard has newer Escapes, Kias, VWs, and Ecotec 1.4s as these last no where near as long when abused. Saw this sadness from miles away…

Just like in food, in housing, people will be forced to accept higher prices as the norm.
 
Lolwat

They didn’t get high again until Covid after stabilizing and falling after Cash 4 Clunkers.

C4C had nothing to do with the increase in used car prices, it was the lack of new car sales over the recession that caused it...and used car prices never recovered.
 
Man, I hope so! Would be nice…..

Man, I hope so! Would be nice…..
For me beater money tops out at $3K.
This looks clean and well kept and could be had for $2500 USD.
Reliable little bump around town car with a real manual.
Just an example but prices do seem to be coming down to reality a bit.
 
For me beater money tops out at $3K.
This looks clean and well kept and could be had for $2500 USD.
Reliable little bump around town car with a real manual.
Just an example but prices do seem to be coming down to reality a bit.

They're asking $3800. Dad has an interesting choice in shift knobs and a lack of license plates leads me to believe this is a curbstoner.
 
They're asking $3800. Dad has an interesting choice in shift knobs and a lack of license plates leads me to believe this is a curbstoner.
For sure was a parental hand-me-down and yes I noticed the shift knob. The $3800 is CAD which is ~$2800 USD. They'd definitely take $2500.
It's common here to remove or cover plates in the listing.
Even knowing this it still looks decent to me.
 
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