Is Covid-19 a used car buying opportunity?

Looks like click bait to me.

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I see a massive wave in crypto coming in 2022/2023. Here’s what I discovered … and everyone knows. :rofl:

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Bankruptcies and regulations, maybe?

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Used car prices turning back up

https://www.bloomberg.com/news/articles/2023-02-08/surprise-used-car-price-jump-adds-to-fed-s-worries-on-inflation

https://archive.ph/tHpH7

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Rather than buy a dinky leaf I’m thinking phev SUV under $25k (with negotiation) and get a 30% credit :

https://www.kbb.com/cars-for-sale/all/suv-crossover/phoenix-az-85001/?requestId=off&fuelTypeGroup=PIH&searchRadius=50&marketExtension=off&isNewSearch=true&showAccelerateBanner=false&sortBy=derivedpriceASC&numRecords=25

this one in particular is almost priced too good to be true even w/o credit.

https://www.kbb.com/cars-for-sale/vehicledetails.xhtml/?listingId=672100947&allListingType=all&vehicleStyleCodes=SUVCROSS&city=Phoenix&state=AZ&zip=85001&requestId=off&fuelTypeGroup=PIH&searchRadius=50&marketExtension=off&isNewSearch=false&showAccelerateBanner=false&sortBy=derivedpriceASC&numRecords=25&referrer=%2Fcars-for-sale%2Fall%2Fsuv-crossover%2Fphoenix-az-85001%2F%3FrequestId%3Doff%26fuelTypeGroup%3DPIH%26searchRadius%3D50%26marketExtension%3Doff%26isNewSearch%3Dfalse%26showAccelerateBanner%3Dfalse%26sortBy%3DderivedpriceASC%26numRecords%3D25&clickType=listing

things getting cheaper on the used car front lately

https://wolfstreet.com/2024/01/08/used-car-wholesale-prices-gave-up-53-of-their-crazy-pandemic-price-spike-historic-plunge-continued-in-december/

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Although that is probably true, wear your armor when bringing your car into a dealership for service.

I took by truck in for a re-repair (adjustment) of a firewall bracket. Despite my objections, they included a “complimentary” inspection which took almost an hour. During that time, the “early-bird” salesman hit me up 3 times to buy my 15 year old 4x4 truck.

As I’m getting older … and my wife is getting younger, it seemed prudent to introduce her to the car service, and “service technician”, experience ( it seems you’re way overdue for your air filter and interior filter changes … looks like you’ve never done them). Since it was a weekend, the oil change experience took a little over an hour. During that time, a very friendly and bored salesman introduced himself and made 6 (six) mentions of wanting to buy our 14 year old Accord. He was certainly not high pressure, but Jeez-Louise, was he persistent, and admittedly desperate.

Fortunately, the Audi dealership was courteous enough to only put a note in our service packet asking that we consider “very desirable offers” on our 4 year old car.

Ya’ gotta love persistent salesmen. They are the quintessential American, working hard at something productive. :slightly_smiling_face:

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Those Hondas keep their value! Having a hard time finding a good deal on a used Civic that’s 2020 or newer. Almost better off buying new

Also curious how wife is getting younger. Trade in ;)?

Ha Ha! I only did that once. She reads the calendar differently that most. She has the appearance to get away with it. No one has ever accused me of being her father, but we have occasionally gotten the “he must be loaded” look. :slight_smile: If they only knew …

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Inflation and rising rates have not been kind to used car owners


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Interesting charts…

My 2011 GMC is still chugging along which is good because it is worth almost nothing supposedly :slight_smile:

As we learned on FWF, drive it till the wheels fall off!

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Is that second chart adjusted for inflation? Even if it is, compared to 2018, you’re basically only 10% more underwater than 5 years ago.

As far as used car owners are concerned, it depends on timing too. It’s only bad if you’re in the market for a used car now. We bought our latest midsize sedan in 2019 (we splurged, was a 2-yr old model). At the rate we keep our cars, I’m hoping prices will have normalized by 2040ish…

But yeah I’m with gremin007 on keeping our other car (2008 model) running until the wheels fall off and hope the downward trend continues. With some luck, we won’t need another car, just a used golf cart :wink:

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