Are luxury used car prices way up or are they up just a little? I’m looking at something like a Macan, Cayenne or SQ5 17 or 18ish, 30-40K. They seem to be 50%ish of MSRP. Is this where they’ve been traditionally?
I’m reading through audiworld and rennlist, don’t seem to be any big complaints, is there anything to watch out for? Looking for peace of mind but I drive too much to lease. Current lease is up in December and only 6k away on a 15K/yr lease.
Everything in the used market is up currently
The SQ5 leases were pretty amazing while Costco lasted, but that ended yesterday. You probably could have gotten into one of those and out of your current car with minimal negative equity given the current used car values, but too late now.
Buying anything used right now makes little sense given the absurd values right now in general. I can’t say exactly how much higher on specific vehicles like the SQ5, Macan or Cayenne, but more than likely notably so.
Might be worth looking at swapalease for leases that are a good amount under miles. If you can get a 12-18 month lease, used car market might calm down by then.
You’re not driving all that much more than 15k/yr.
Much better to look for a good deal on a lease and pay some overage rather than buy into a used car bubble to be left holding the bag IMO
I actively don’t drive places or use the car right now, I don’t like that feeling. I was doing that in 2019 too, and it wasn’t so bad, I could get three day rentals from the local airport for around $90. Then of course 2020 I did a lot less driving. Those days are long gone. Going to be busy with a lot of driving the next year.
Shift is offering me more than the buy out on a BMW so I know the prices are crazy. But definitely now making offers close to the selling price of the car, so I know the market isn’t like some Toyota’s and what not.
Just thinking out loud I guess, or think of moving to something cheaper which I don’t really want to do.
You think these models are pricey, look at 15 year old GX 470s…
I heard on givemethevin radio show that used cars prices are up 25%.