We have all taken advantage of the recent spike of used cars prices since the pandemic hit. Unfortunately it hasn’t made lease residuals any better, but I’m curious to know how dealers are handling the market right now.
For example, I have been casually shopping for a 2020 Dodge Challenger Scat Pack, and with current rebates and heavy discounts on leftover models, I can get a new one cheaper than a used 2019 or even 2018 with low miles.
How volatile is this bubble, and when do we expect it to pop? The latest semiconductor parts shortage isn’t helping the already low inventory for new vehicles.
How has you luck been with dodge? I went to a dealer looking for an R/T and they told me I have to pay a deposit and over sticker because they are flying…everything is crazy with dodge. Seems better to finance instead of lease at this point
Dealers in Michigan have deep discounts, but hard to find a manual with decent options. No one has asked for above sticker price.
One dealer has a used 2019 Scat Pack with 1500 miles listed for $39,998, original MSRP is $44k. I can get a 2020 model brand new for under $39k right now. Ridiculous.
It’s all about timing. Weather is starting to get nicer and cars like Challenger will benefit. This is reflected in the auction price of these vehicles in addition to retail.
2020 DODGE CHALLENGER 2WD V8 2D COUPE R/T SCAT PACK
Otherwise, you know what’s going on. Limited supply and strong demand plus weak incentives on the 2021s. The only place I know who still has 2020’s left is Koons… Buying a used 2020 is still cheaper then a new 2021.
Your the guy with a Camaro, complaining about Challengers that really wants a Mustang right?
But seriously, my brother is looking to dump his lease and buy a used SUV due to high mileage driving. He’ll be able to either break even or get some positive equity from the lease.
I’m trying to gauge if the used market is trending down or staying flat. I keep telling him to dump the lease now before Vroom/Algo get wise.
You can see, recently, vehicles are starting to outperform MMR on an increasing basis. You can also see, that while up, we are below the peak from last years spike, and the covid checks havent even arrived yet. So I think it’s gonna climb higher. I would not want to be a buyer right now.
Don’t worry @volnedan, I changed all the fluids and took it out yesterday…and back in the air today. My prop shaft bearings are gone judging by the horrible grinding noise every time I coast or let off the throttle. At least it’ll be another 2 months before it’s nice enough to drive again
