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

Oh yeah easily! They’ll keep selling them though without an issue because people will buy them. Usually heavy duty diesel trucks keep their value pretty well over a course of 5 years, but at 100k that’s going to be a very different story. I think we’ll start to see some people taking larger hits on trade in values on these in a few years. No way I’d spend anywhere close too 100k for a heavy duty pickup.

1 Like

Every actual tradesman I know is in an LT or XLT etc and every poser that has no business being in a 3/4 ton is in a High Country or Platinum. Pretty comical.

3 Likes

Its in her best interest to let it get repossessed :joy:

The damage to her credit is nothing short of what she deserves :joy:

1 Like

This all happened in the last real estate bubble. Everyone had a new 60k truck (which was highend at the time). Not sure how they will make 1500/mo payments if things dry up again. The next 12 months are going to be interesting.

Say it louder.

1 Like

more price dips ?

Wholesale prices up over 4% since Jan 1st. I see them continuing to rise for next few months. After tax season used car dealers will head to auctions to replenish their inventory and will overpay. Auction inventories are very low, new car sales are down and no one is trading in vehicles. This is driving the wholesale market up and then used vehicle prices for consumers.

It’s gonna be worse cause people bought cheaper cars in 2007/2008. Best selling cars from that period included Altima, Camry, Civic and Accord. Today the Camry is the only sedan on the top 10 list.

Also, maybe I am reading the numbers wrong but I think a top of the line F-150 maxed out at under $40k MSRP for the 2008 model year. Wasn’t that long ago trucks were utility vehicles and not luxury vehicles

2 Likes

Small note but 40k in 08 is almost $57k in todays $

2 Likes

Exactly. In 2008, the F-150 maxed out at $40k. Today the mid-trim Lariat starts at $57k (and almost $64k if you add in all wheel drive and destination charge). And the Lariat trim is the one most people buy - which explains why the average new F-150 costs $59k.

For comparison, a 2008 Camry XLE started at $25,000 in 2008 and now starts at $32k after destination. Similar numbers exist for most other Japanese sedans. Inflation is not the primary driver of truck price increases.

3 Likes

Not a used car but a VW dealer near me has a 2023 Jetta GLI Autobahn DSG marked up to $40k

1 Like

Are used car prices going up again? I’ve been getting quotes on one of my cars and what they are telling me is higher than just a month or so ago by a few thousand.

1 Like

Offers on my 4xe are climbing back up

5 Likes

Not sure if peak but factoring $400+ in monthly savings due to lack of fuel bills is completely insane. Marketing department needs a head check.

2 Likes

Fine print must be 82,000 miles a year and utility cost of $0.95 /kWH🤪

Plus, don’t they know that $500 a month is the going rate for that car :slight_smile:

With the fuel savings….its FREE!

5 Likes

Tesla does this on their website. I was checking out the pricing of the Model 3 and they were taking off around $4,200 for fuel savings in addition to the Federal and State EV incentives to arrive at a net price.

Our world is now 24/7 bs.

12 Likes

I just sold my ‘22 RX but Carvana just gave me a higher quote than a couple weeks ago.

Here is the progression of their offers:
12/28/22 5,800mi $40.9k
1/18/23 6,000 $45.3k
2/14/23 6,000 $46.5k
2/23/23 6,300 $42k
3/4/23 6,600 $43.2k

Such a wacky market.

The car market has the volitility of the stock market now.

But everything is driven by algos these days. My kid just got an apartment and the price changed daily until he put a deposit on it.

Dystopia is only intensifying…

5 Likes

I hope it was less and not more

1 Like

How is the gas savings same on all cars? They all have same MPG?