Just got rid of my Subaru’s to Carvana…one transaction was easy, the other was a bit of a mess but worked out fine (customer service is very frustrating).
I’ve replaced one car, and until our family needs another one, will try and get by with only one.
Question is: What brands and vehicle types do you think will be the best to “sell early” or “flip” going forward? Base seems better than loaded, no…used car buyers are more price conscious than new buyers who want everything?
I wouldn’t lease something under the assumption that banks are going to continue to allow you to sell their asset for a profit. We’ve been seeing more and more banks walking away from allowing that as the reality of the current market is hitting.
I don’t plan on it, but it might factor into my decision if it’s a coin toss.
Of course, the used car market look totally different in 12 or 24 months too…companies have a habit of over production during boom times!
The whole issue right now is the lack of ability to produce.
I’ve been thinking the same after I had positive equity with an Accord ($3k), Jeep ($5k).
My guess is that high volume cars, exotics and heavy chip using cars.
Disclaimer, certain makes will not allow trade ins
-Tacoma, Accord, f150, minivans
Wranglers, Broncos, Subuaru
EVs, Volvo’s, Audi
Tacoma, tacoma and tacoma
And when that stops being an issue, which may be as soon as within a month, this entire thing is going to completely reverse and everyone currently paying $20k for an 8 year old Accord or $10k for a 10 year old Cruze is going to be stuck holding the bag with loans on used cars worth half of what they paid. This is one of the strangest bubbles I have ever seen fed by free govt money, lack of new car inventory/discounts, and idiots with cell phones buying overpriced used cars at 8% APR from Carvana, Vroom etc.
THIS IS NOT SUSTAINABLE. Do not plan on this continuing.
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