Was This Finally “Peak Insanity” in Used Vehicle Prices? And all other crystal ball questions

Not only is he a dreamer but it’s a pre-LCI at that.

And WTH mods a lease car…

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Peak insanity huh?

And then gets 25/36th the utility from the mods and expects to recoup 100%?

I hope it ends up repo’ed and they get a bill to return it to stock.

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This is nothing…there could be a whole thread about just bad SAL listings…

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ya was wondering if there should be a separate thread.

There was an x3 m40 on there for 700/mo with like 11 months remaining as well, who wanted 12k firm down and said "dont waste my time if not serious and the car is clearly worth this ". They’re pretty entertaining.

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There’s already a similar one where a lot of these get posted.

I got my CarMax appraisal just to see what they would come up with. I have no intentions of selling it right now but was just curious.

Their offer was quite shocking. They offered $54k for a 22 Yukon SLT with Premium Package and 4K miles. They attached the KBB trade-in value which comes in at around $73k. So they’re about $20k below KBB.

What’s interesting is on their website they have a 2021 Yukon SLT with 74k miles listed at $62k.

Talk about a low ball offer…

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Could just be that at the moment they don’t want to take on inventory of a full-size suv until gas prices calm down.

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They actually get good mileage, Mine around town averages 18

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KBB isn’t linked to current pricing. Markets fluctuating so fast.

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KBB : car value
as
Vantage : credit score
and
Zestimate : home value

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Some Banks give out mortgages on this value for refinancing lol so it’s not that irrelevant. .

:joy::joy:

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Still exploring Oregon and Washington coast as a Cali exit strategy, and have noticed the trend over the past few years on the Zestimate: sometimes it trends higher than final solds for months, then tends to match for a while, then sometimes (Spring usually) solds outpace the Zestimate. Wonder what takes Alex and others in the bizz thinks of this as a ‘following’ indicator.

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I personally think that AI based “appraisals” can sway one way or other with just a wrong update or missing information like. Sheriff Sale, foreclosures etc…

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Yes, I understand that. But we’re not talking $2-3k here. The Carmax offer was $54k and KBB is at $73k. So KBB is 35% higher than what Carmax came back with. Again, this isn’t a small difference which should be expected.

KBB can be very relative, particularly now more than ever. A vehicle is worth as much as someone is willing to pay, period. This doesn’t justify Carmax’s offer, nor the validity of your KBB “value”.

Me when someone asks for NADA trade value: :man_facepalming:t2:

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Just a recent data point, had a Honda for sale and Carmax was highest bidder at 38k, 2 weeks go by and they lowered to 35.7 so decided to recheck with the other places that were way lower than carmax, Driveway was 36 and is now 38.3 Autonation was 36 or 37 not sure and raised now to 37.5
It seems like we’re in a better place than Jan-Feb.

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Return-to-work improving a springtime bump in demand.

Do you really think people that went to work from home sold their cars in 2020?

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