New and Used car prices are the same. Why?

[Thegonagle]

Originally Posted by wit-nit

Interesting web site about the so called new 50's 60's vehicles but under further investigation it appears these vehicle must've been under water or had some storm damage as they state in their listings about rust, broken glass, rotted or missing wood floors on the trucks etc. Looks like a lot of money will be needed to bring them up to like new condition.

I've read about that. The vehicles weren't properly stored, some were left outside, etc. Maybe he had thoughts of saving them for posterity or something, but it sounds like the dealer also had what some of us would call a hoarding problem.

[Thegonagle]

Originally Posted by mej1

Can anyone tell me why a new 2012 and 2013 Toyota Corolla/Camry or Honda Civic/Accord would cost the same as a used 2010-2012 with 20,000+ miles on it? I'm not sure if I should be suspicious or not.

It's because you're looking at Hondas and Toyotas, which I think are overvalued as used cars.

They're also expecting to sell most of the used cars for a few thousand less than they list them for. Look at the the three valuations from Edmunds, KBB, and NADA, take the middle one, and subtract another $500 (because "bluebook" info is inherently out of date). That's about what most used cars should sell for, give or take depending on lots of other little things.

For late model Honda and Toyota vs. new, you're probably better off buying new. You just don't save enough going used with those two brands.

[sholomar]

Originally Posted by Thegonagle

It's because you're looking at Hondas and Toyotas, which I think are overvalued as used cars.

They're also expecting to sell most of the used cars for a few thousand less than they list them for. Look at the the three valuations from Edmunds, KBB, and NADA, take the middle one, and subtract another $500 (because "bluebook" info is inherently out of date). That's about what most used cars should sell for, give or take depending on lots of other little things.

For late model Honda and Toyota vs. new, you're probably better off buying new. You just don't save enough going used with those two brands.

Very true, Last generation Ford Focuses or old Pontiac G6's especially seems to lose value fast and one can get a good deal on used ones even though they really aren't that much less reliable to anyone with a bit mechanical inclination . In fact from what I have read I would argue that honda automatic transmissions have less than stellar reliability especially in their larger vehicles... but any transmission should last a long time with 'normal' driving and regular dropping of the pan, changing of the filter/fluid.