Hopefully next year. My wife's SUV will be ready to replace. It's crazy I've been offered well over what I have invested in my truck a few times. Normally that would make me sell but looking at replacements it wouldn't make much sense.
rusted out early 2000s v6 f150s are selling for over 3k right now. As much as I really want back in a 2wd truck yikes
Back in the days when things were more traditional, new car introduction in September, car shows etc. February was the best time to by a used car. The dealers wanted to clear their lot for the spring rush.
Sadly, those days are long gone.
I sold a car to Vroom in June, which used to be Texas Direct Auto, the largest volume dealer on ebay motors for several years. I asked them about it and they said they usually carry about 1,500 cars in inventory, but they dropped that down to a couple hundred in march, and were buying like crazy just to have inventory to sell.
There is also a youtube channel called your car advocate that discusses the current situation of the used car market:
https://www.youtube.com/watch?v=hRDTDz-7VsY
Hopefully soon. My plan was to pick up a 90s ford truck this year, 300 and a stick, hopefully extra cab and 4x4 but not stuck on it, for a work truck. Just a basic work truck, many out there right?
Ones that I passed on for $1300 because of issues are now going for 4k.
Who would have thought a base trim truck from the 90s would near triple in value.....
News to me...
According to this Hertz announced on Weds (yesterday) that they are closing all car sales lots on Thursday (today).
The website is reachable but seems to generally be not working.
Get em before they're gone, and they appear to be gone.
Have been dragging feet on an XTerra. Looks like the rest of the world figured out they were deals also. Prices almost doubled on them from earlier this year.
Employer just put her '06 Sienna up for sale, so... tomorrow?
I just want to sell the wife's Koup for a reasonable amount
I received what was, in my opinion, a very reasonable offer this week for my GX460 from one of the online companies so I jumped on it. It's been a pretty straightforward process so far, but they still have to come pick it up to finalize the transaction. I am hoping to take a couple months and see what happens before I start looking for the next one, hopefully things have normalized by then.
To me, it seems the biggest increases have been in trucks and SUVs. Seems used sedans haven't jumped quite as much, which will hopefully benefit me when I'm ready :)
Everyone needs trucks to do their home projects. This also explains the boom in cost of home building and landscape materials
When supply exceeds demand, the price will go down.
https://www.cargurus.com/Cars/price-trends/
the yoy numbers are insane. But last 30 days have seen declines. Supply is back up at dealerships but manufacturers used thst timeframe to push prices to the moon of new trucks and SUV's. Buuuttt. I saw Toyota offering $750 or $1000 cash back on Tacoma's. So is that the canary in the coal mine?
In reply to Fueled by Caffeine :
That is pocket change on a new truck, if they start offering $5-8k that might be a sign they over built.
In reply to Fueled by Caffeine :
Interesting info.
Although not sure why Saturn prices are up. 
In reply to Donebrokeit :
I agree. But Toyota rarely offers incentives. Especially not on trucks.
A contractor friend is buying an end of the tax deduction, the trade in he was offered on his old work truck was way to generous. But they are getting him into a new $70,000 truck.
The manufacture's and the tax code have to be subsidizing the used truck bubble, you think?
My interest, I get to buy the very well maintained work horse of a 4WD diesel for $2000 under the trade in offer. I will live with the shop truck dents and dings.
In reply to jr02518 :
The tax code surely incentivizes the purchase of large SUV's and trucks. It's one of the reasons I want to start a small business. Start business. Lease/buy vehicle. Deduct all Payments and expenses. Get accelerated depreciation
Fueled by Caffeine said:https://www.cargurus.com/Cars/price-trends/
the yoy numbers are insane. But last 30 days have seen declines. Supply is back up at dealerships but manufacturers used thst timeframe to push prices to the moon of new trucks and SUV's. Buuuttt. I saw Toyota offering $750 or $1000 cash back on Tacoma's. So is that the canary in the coal mine?
NoBrakesRacing said:
In reply to Fueled by Caffeine :
Interesting info.
Although not sure why Saturn prices are up.
I dug into those number as did a Dec27th year over year compare. The data seems to represent all used cars sales broken down by brand. On a brand like Chevy this data would include both the sale of real used cars like a 2007 model and "new used cars"like a 2019 model. Since new trucks are mostly 4 doors and mostly much more expensive the numbers get skewed as the high price vehicles get added in.
I think the best data comes from the orphaned brands like Saturn. No newer vehicles are getting added but the same vehicles get older and get more miles added to them but are still selling for higher.
Findings:
+8.3% Index (that's an average of all sales in all brands)
+16.5 Hummer
+12.3 Mercury
+15.6 Oldsmobile
+22.6 Pontiac
+13.0 Saab
+7.50 Saturn
Old cars with no new models adding in are increasing their sale prices at rates greater that the average of the industry. I think these numbers are an easy way to say that "real" used cars are up 7.5 - 22.6% I'm sure 15% is a good average number. This is also a 15% increase on a car that is both older and has more miles than last year.
...Apparently I did not know how good of a deal I was getting when my buddy asked me to take over his truck payments to help him get out of some debt... 2017 Nissan Titan quad cab with 35k for $15,200. Just looked online for craps and giggles and the cheapest one I could find with that low mileage/year combo was $28k.
Damn...
Not to be insensitive but I really assumed I'd see prices really drop around Xmas. After not working for awhile I assumed people would really need/want Xmas money.
If anything, prices have gone up
I think this has more to do with the fact that as long as Covid is out there that buying a used car is safer than using public transit or calling an Uber.
You'll need to log in to post.
