There are some sparse looking lots I’ve seen around me with the signs outside again screaming “WE BUY CARS!” And I’ve received more than a few “see what your car is worth” emails.
Strong job market + inflation and a continued production rate thats 2-3m vehicles annually under production pre COVID and this isn’t surprising.
Was able to sell the truck I just leased over a year ago back to a GM dealer for payout.
In January, all the offers I was getting were $38k or less. In the last 2 weeks, I got 2 offers for $41k+.
Weird.
My offer from Carvana back in January was $41 for my 224xe Rubi and just got an email from them 2 days ago offering $6289 more. LOL… used car market seems about as stable as crypto
Peak insanity might be over, but there are still some cars selling for insane prices. Last night I went with my Dad to pick up his new 2023 Tahoe RST. While chatting with the finance guy, he revealed to us that they bought a used Escalade V Series with 1,800 miles. Original MSRP was in the $150ish range. They bought it for $217K and have a buyer lined up at $240K + Tax. OH MY LORD!
Props to the dealership for having someone lined up before buying that Caddy.
PPP loan program still running?
Sure seems like it. Also, loans became grants real quick.
Sickening.
I keep asking myself who in their right mind has been paying these used car prices. I was in shock when I sold my charger last year how much I got for it
The majority of people do little to no price research when buying a car. They don’t understand that they’re highly negotiable, they get excited when the dealer knocks $1000 off list price, thinking they got a “deal”. It’s fascinating to me that people spend what they do as well, and they do it every 3-5 years!
Me like shiny thing.
The buyer tasked them with finding him the truck and getting it delivered to CT. Stand alone Chevy dealer a few exits up 95 from us.
Toyota isn’t offering great leases, high interest rates, lack of incentives and many dealers aren’t discounting from msrp (many still above). I can totally see why they lost market share as shoppers are psychological and want a discount. Which is why cdjr has a great business model. High msrp and artificial discounts to give the illusion of a deal…
Brutal % for BMW
At the moment, Toyota has a supply issue, not a demand issue, correct?
Watch upward revision in MB Q1 2023 numbers…
Supply has been an issue since covid. So that shouldn’t be why they’re down yoy. I think it’s purely bc of the reasons I mentioned.
Just sold my 2018 RX 350 with 18,XXX miles. RV was 23,XXX. Got the following offers:
