When fuel has been high there are folks around here that pull Geos, Celebrities and Cavaliers right out of the wrecker , and usually drive them as found.
Used prices to rise again?
- Thread starter supton
- Start date
Thank the heavens for PA's state inspections I guess.
Maybe. Here's my $0.02 :
GM announced plans to temporarily shutter the plant producing Silverados and Sierras, in order to "adjust inventory levels." They are taking advantage of the supply-demand equation in order to justify continued high sticker prices and maximized profits at the expense of their customers. Other manufacturers in the same boat (currently large inventory at high prices, not selling much) will likely make the same "adjustment." If this is the case, used prices will stay high for the foreseeable future.
Yea- those hoping for a crash in used car prices are sorely mistaken...new threads on this forum about those who have purchased a new or used vehicle have ground to a halt. Instead there are threads like " what feature would you pay to do away with!" LOL"!
Thank the heavens for PA's state inspections I guess.
Yea that don't really matter. If you live in a non-emissions county you can find a garage that'll sticker slap that bad boy for $40.
Not that I know anything about that or anything...
Yea- but I bet you consider yourself an honest person......Yea that don't really matter. If you live in a non-emissions county you can find a garage that'll sticker slap that bad boy for $40.
Not that I know anything about that or anything...
I know which blows my mind how anyone agreed to that. I guess pollution is now locked by county. Vehicle inspections save lives and make the roads safer regardless of what any dingleroos want to say about it.Yea that don't really matter. If you live in a non-emissions county you can find a garage that'll sticker slap that bad boy for $40.
Not that I know anything about that or anything...
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My county is where hoopties come to die that have a permanent CEL on that won't pass emissions. Some serious sketchy stuff rolling around. It's even worse when you cross the border into Maryland (15 minutes) where they don't have annual inspections, just when buying the vehicle.
Sounds like Monroe & Carbon by me. Tons of "Daddy's Truck" kids rolling coal or driving some GMT400 that has more foil tape holding it together than all the ductwork in my house. I am pretty sure that is where our hoopties go as well.
Lots of new and used car dealers are going under and their inventory liquidated.
The Pandemic Used-Car Boom Is Coming to an Abrupt End (Published 2023)
Dealership are seeing sales and prices drop as consumers tighten their belts, putting financial pressure on companies, like Carvana, that grew fast in recent years.
Sales have dropped a lot, if sales stay frozen the prices will eventually drop as a 20% drop in volume with 3% a quarter drop in sales will add up.
This is assuming they don’t just want to go out of business and even if they do prices will start to fall.
If the practice of exporting used and junk cars slows that is when you will see inventory increase alongside the decrease in demand
In most counties ( but not all) in Utah you have to pass emissions- however they did away with safety inspections. So now you can go to Walmart or Target parking lots in the dead of winter and see nice mini vans and SUVs with absolutely bald tires. And then mom comes out with several kids and piles them in to said vehicle!
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Prices coming down pretty quick here in Houston at the dealerships i service. Stores are flooding with new inventory and not moving (especially trucks), and rebates and negotiations are back in effect. Used inventory seems stale at some dealers, but moves at others. Pretty sure it is because “price sells cars”….Toyota and Honda still have very little new inventory, playing overage games, and still managing to find suckers daily. The used selection is cosmetically ruff even on vehicles 2 years old and newer as most new model preowned units are retired rentals, or lease trades that people trashed, but there are some cream puffs to choose from if you look. Trade in values are in the toilet. GM at my toyota store told me that the average trade in, if bought in the last 2.5 years, is 10-17k underwater. (Some high trim models from various manufacturers are 20k buried depending on when they bought) Most deals are DOA as soon as they pull across the property line. If they financed full term and paid over in the last few years they are buried. Most people buying or attempting to buy are special finance, or trading up from 7-10 year old vehicles that held out through the “covid crazy”. Debt to income is becoming a problem for finance departments…No one hit their numbers for February at any of the stores i service. They are all stacking deep for tax time holding onto junk trades in order to avoid the auctions (which are still gaming), but i’m not really sure how that is going to work out for them. Car money seems to be starting to dry up down here…..I make my living in this business and i’m starting to get a little nervous. I dont want to say its like someone flipped a switch (which is how it happened in 08-09) but something is going on, and the business seems to be dipping quickly…
There's only so much negative equity lending institutions will let you roll. We're going to come to a point where entirely too many people will be so far upside down that dealers will be unable to sell them another car. There aren't enough cars being made to provide for what used to be the regular rate of used car to new car turnover anyway. But eventually, manufacturing is going to catch up, while increased repossessions also balloons the used car supply, as the average consumers' ability to purchase from either used or new inventories continues to shrink. A much bigger storm is brewing. Real men like me are preparing to profit immensely from it.
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I'm on a fixed income, retired from the Machinist Union.
I'll only buy what I can afford if and when I need it.
If I can't afford it, I'll keep looking.
Confirmed. Used car prices accelerated at record pace in Feb 2023. Interest rates are still way too low and fiscal handouts too generous.
Used-Car Prices Reaccelerate With Biggest February Gain Since 2009 | ZeroHedge
Used-Car Prices Reaccelerate With Biggest February Gain Since 2009 | ZeroHedge
