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Used Car Prices



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 2 months ago '17        #1
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madkrs04 
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Used Car Prices
 

 
visit this link https://www.vox.com/the-g .. -used-cars-gas

One of the big talks and concerns about the latest inflation figures are car prices. Prices have been going up and as a matter of fact, it has experienced a 29.7% increase YoY in July 2021 alone. My thing is that, I’ve been hearing a lot that cars are not a depreciating a*set. It used to be before that as soon as you drive off of the dealer’s lot, it instantly looses its market value but that’s now happening right now. In theory, you could take advantage of this price arbitration. I have not first handedly hear about anyone selling…
So looking to take a survey on Boxden so see if it represents the true economy and see if this is possible.

Have you recently sold your car for more than it was worth?
What state, town are you From?
What kind of car did you sell?
How much was it worth prior & how much did you sell for?
Did you buy another car after you sold your old one, or just pocketed the money?


Last edited by madkrs04; 07-25-2021 at 04:30 PM..
+7   



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27 comments
 

 2 months ago '20        #2
Dos Doses 
Props total: 481 481  Slaps total: 41 41
Something seems off, but honestly used cars have been going up for a while and I never understood who was buying. I would periodically browse used car listings and laugh to myself thinking who's buying that s#it. I'm talking 96 Tacomas going for 14k. That's what that truck probably cost when it was new.
+6   

 2 months ago '17        #3
zackattack  topics gone triple plat - Number 1 spot x8
Props total: 26111 26 K  Slaps total: 2153 2 K
 Dos Doses said
Something seems off, but honestly used cars have been going up for a while and I never understood who was buying. I would periodically browse used car listings and laugh to myself thinking who's buying that s#it. I'm talking 96 Tacomas going for 14k. That's what that truck probably cost when it was new.
The market for old school Toyota trucks always been dumb high, it's only getting higher with all this inflation. Plenty of people love them and a lot of folks buy them to export.

Used car prices will probably continue to go up in the short term because these supply chain issues they're having with the new cars is helping to drive up the cost of used ones.
+4   

 2 months ago '18        #4
Orndorf2 
Props total: 3405 3 K  Slaps total: 340 340
In general if you have trucks you can make a k*lling. My brother bought a truck a couple years ago for 45….had a dealer offer him 47 for it.

I’ve talked to independent auto dealers that took their inventory of cars and wholesaled the entire lot at auction and made 2k per vehicle in a snap. However they have no cars to sell now.

Rental car companies don’t have cars. They are buying older cars to add to their fleet because they can’t get new cars. I rented a car from National with 67k miles on it. They rarely keep the cars that long.

If you don’t need a car but have one you can get top dollar for it now. If you have to buy another to replace it…good luck. Not many deals out there with the scarcity.
+2   

 2 months ago '15        #5
Thatdude28 
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It's flat ridiculous tbh. I'm seeing busted cars missing bumpers dented up with damn near 300k and they still want close to 4-5 thousand dollars.

It's a gift and a curse because it makes me learn to appreciate what I have.
+6   

 2 months ago '18        #6
Txheat 
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One thing y’all need to keep in mind is that it’s not inflation it’s the fact that automakers aren’t making cars nearly as fast as they were before. The chip shortage fu*ked a lot of them.

I’m in the Houston area and you should see how bare the car lots are. They have no NEW inventory.
+8   

 2 months ago '17        #7
International1 
Props total: 16772 16 K  Slaps total: 984 984
 Dos Doses said
Something seems off, but honestly used cars have been going up for a while and I never understood who was buying. I would periodically browse used car listings and laugh to myself thinking who's buying that s#it. I'm talking 96 Tacomas going for 14k. That's what that truck probably cost when it was new.
Something is definitely off. Just came back from Hawaii and one out of every 5 cars is either a Tacoma or 4Runner. They love them sh*ts out there
Especially the 2000-2004 Runners
+1   

 2 months ago '06        #8
Malcolm  topics gone triple plat - Number 1 spot x2
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 Txheat said
One thing yíall need to keep in mind is that itís not inflation itís the fact that automakers arenít making cars nearly as fast as they were before. The chip shortage fu*ked a lot of them.

Iím in the Houston area and you should see how bare the car lots are. They have no NEW inventory.
Itís a mixture of both
+1   

 2 months ago '20        #9
wargasm12 
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Right now, pick-up truck prices are ridiculous in the midwest. I have seen used dealers try and sell trucks with >200k miles for way over market value.

I have been trying to figure out a way to buy a few trucks from out east, drive/ship them out to the mid-west, and sell em off for profit without getting bagged for title jumping.
+1   

 2 months ago '04        #10
100percent 
Props total: 339 339  Slaps total: 76 76
Covid so people used less public transportation. Combine that with so many companies shutting down due to covid...you now have higher car prices

 2 months ago '18        #11
Txheat 
Props total: 35252 35 K  Slaps total: 2672 2 K
 Malcolm said
Itís a mixture of both
How is it a mixture and how has inflation hit that quick? The car market is simply a shortage of inventory. You go ask any car dealership and theyíll tell you the same thing. Trust me, Iíve been looking to buy another truck for the past several months and all the dealerships Iíve talked to are saying the same sh*t.
+1   

 2 months ago '06        #12
Malcolm  topics gone triple plat - Number 1 spot x2
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 Txheat said
How is it a mixture and how has inflation hit that quick? The car market is simply a shortage of inventory. You go ask any car dealership and theyíll tell you the same thing. Trust me, Iíve been looking to buy another truck for the past several months and all the dealerships Iíve talked to are saying the same sh*t.
Inflation didnít just hit. The FED been injecting money into the banks since September 2019 and pumped trillions into the economy since then. Car dealers are only looking at it from the supply side. All they know is what corporate tells them. Again, there is some truth to it. But on a macro scale, inflation is driving up the cost of ALL goods, itís just a lot easier to see on things that cost more money. You gonna tell me all these houses out here are going up simply because thereís a shortage of inventory? No, itís that and inflation. You canít print up trillions, put it into the economy and then expect it to disappear.
+7   

 2 months ago '11        #13
Jaymalls 
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 Malcolm said
Inflation didnít just hit. The FED been injecting money into the banks since September 2019 and pumped trillions into the economy since then. Car dealers are only looking at it from the supply side. All they know is what corporate tells them. Again, there is some truth to it. But on a macro scale, inflation is driving up the cost of ALL goods, itís just a lot easier to see on things that cost more money. You gonna tell me all these houses out here are going up simply because thereís a shortage of inventory? No, itís that and inflation. You canít print up trillions, put it into the economy and then expect it to disappear.
Preach n*gga! 💪🏾
+2   

 2 months ago '05        #14
projectd06 
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Only works If you dont need ro buy another car/truck, if they are selling high you will be buying high most likely.

 2 months ago '11        #15
UrDoinGood 
Props total: 7016 7 K  Slaps total: 1602 1 K
I bought a 2005 545i for $2000 in January. I put 12k miles on that bi*ch in 7 months

Fun a*s daily driver
+1   

 2 months ago '16        #16
Funke  topics gone triple plat - Number 1 spot x4
Props total: 15654 15 K  Slaps total: 2604 2 K
Yeah the game is f◊◊ked up. I went to CarMax and i was looking at a 2018 Subaru Accent and they were talking about $800 payments.. ohh hell naw. I mine as well get the Hellcat.
+5   

 2 months ago '17        #17
TellyHankton337 
Props total: 1811 1 K  Slaps total: 313 313
 Dos Doses said
Something seems off, but honestly used cars have been going up for a while and I never understood who was buying. I would periodically browse used car listings and laugh to myself thinking who's buying that s#it. I'm talking 96 Tacomas going for 14k. That's what that truck probably cost when it was new.

Tacomaís always did hold value. But u right I paid 10k for my 06 in December 2019. I can probably get 15 or better for it now
+2   

 2 months ago '17        #18
madkrs04  OP
Props total: 285 285  Slaps total: 63 63
 madkrs04 said



One of the big talks and concerns about the latest inflation figures are car prices. Prices have been going up and as a matter of fact, it has experienced a 29.7% increase YoY in July 2021 alone. My thing is that, I’ve been hearing a lot that cars are not a depreciating a*set. It used to be before that as soon as you drive off of the dealer’s lot, it instantly looses its market value but that’s now happening right now. In theory, you could take advantage of this price arbitration. I have not first handedly hear about anyone selling…
So looking to take a survey on Boxden so see if it represents the true economy and see if this is possible.

Have you recently sold your car for more than it was worth?
What state, town are you From?
What kind of car did you sell?
How much was it worth prior & how much did you sell for?
Did you buy another car after you sold your old one, or just pocketed the money?
So, what I got so far that it is possible to gain from the arbitrage pricing in the used car market right now. If you already have the inventory and not looking to rebuy, you can make something.

Perhaps there are some cars/suv models that are in demand vs others and can get a better payout for them.

This is caused by the shortage of new cars and the demand for used cars has shot up as a result.

I will see if cars in certain regions of the country are cheaper than other parts and look to shift and offset those in more expensive markets; I am concerned about the shipping cost eating into the profits though.

I will also check if the international market is dealing with the same issue, because I remember some African that used to buy cars here in the US and sell them on the west coast of Africa, like in Nigeria.

 2 months ago '19        #19
jlem 
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I think it depends on what you're buying. If you're looking for a truck or SUV then they're going to hit you across the head for real. However, if you're looking for your typical Hondas, Toyotas, Kias, etc. you can still find them for a decent price. You have to put in the due diligence though.

Used luxury cars are another animal though. I have a 2011 and you can still see them listed for $20k or above depending on mileage.

 2 months ago '06        #20
CA King 7 
Props total: 12988 12 K  Slaps total: 268 268
I had a truck with over 100k miles on it. Still in great condition, they offered me over $24k for it. So I just copped a 2021 a couple of months ago. It's wild, the chip shortage has dealerships just wanting to gain inventory by any means necessary.
+1   

 1 month ago '16        #21
Ldogg310v2 
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 Funke said
Yeah the game is f◊◊ked up. I went to CarMax and i was looking at a 2018 Subaru Accent and they were talking about $800 payments.. ohh hell naw. I mine as well get the Hellcat.
U must got sh*tty credit bruh.

I just bought my daughter a 2018 fusion titanium from CarMax for 21k+ fees and warranty. Came out to about 26k but I talked them down to 24.5k out the door. I'm only paying 400 a month with OK credit. Which is still high as fu*k. But not no 800. Wtf bruh

 1 month ago '16        #22
lilh305 
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Originally bought my fully loaded Shaker R/T for $25k in 2018, sold it in September last year for $27k (owed $22k at the time). Pocketed the cash as I was paying $460/mo to drive 10-20 miles a month and started investing the cash instead.

Tried flipping a 2018 Mazda3 but they only giving me market value on it so no point.

Learned three things: Hi-po Mopars don’t depreciate as much as other cars

I sold too early, if I would have sold now I’m sure I would have got a rack or two more

Unless I’m really well-off I think I’m out the car note game. People don’t realize how much that sh*t eats into your cash. Buying old school 90s/2000 cars cash that have the potential to grow in value. Hook em up (touch screen, camera, wheels, performance depending on the car and how likely it is to appreciate) and then selling off once I’ve had my fun with it

 1 month ago '16        #23
Funke  topics gone triple plat - Number 1 spot x4
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 Ldogg310v2 said
U must got sh*tty credit bruh.

I just bought my daughter a 2018 fusion titanium from CarMax for 21k+ fees and warranty. Came out to about 26k but I talked them down to 24.5k out the door. I'm only paying 400 a month with OK credit. Which is still high as fu*k. But not no 800. Wtf bruh
They never ran my credit i was only shown different numbers off the website.

 1 month ago '16        #24
Ldogg310v2 
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 Funke said
They never ran my credit i was only shown different numbers off the website.
Oh, well as long as u got good or decent credit you'll be able to get it for less than 800 a month bruh. That's high as hell.

 1 month ago '04        #25
JayR04 
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Ideally you should be paying 200 per 10000 financed.
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