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Location: In a perfect world winter does not exist
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Yep, noticed it too. Works both ways, you will not be hitting the jackpot on a used car trade in anymore.
I wonder if we will ever seen a basic car like a Hyundai Accent 25k miles for 12k again. I think the dealers are still asking 16-18K for that type of car and miles.
Used car prices are slowly dropping. When will the go down back to normal??
I kind of doubt ever. The old days where everything new was at huge discounts I really don't see coming back and just prices. People were already stretching the 7-8 year notes out before and you're not getting huge discounts and the prices are all up a bit. Less supply of new cars means fewer used cars. It'll probably normalize somewhat over coming years as there's not the huge COVID shutdowns anymore. But as far as people buying new cars at the same frequency as before and hencing supplying used cars to the market, I don't really see it.
Used car prices are slowly dropping. When will the go down back to normal??
They will drop like a rock the Thursday before the Saturday I decide to sell my seldom-used pickup to CarMax. So I don't know the date, but I know the when.
I was out with my Porsche sales friend yesterday and he said this month has been terrible on sales for him/dealership. Nobody is buying, but February was great as it always is.
GM is asking tons of employees to voluntarily be laid off, they are shutting down Silverado/Sierra truck plants due to lack of sales and keeping truck values at current levels.
I was out with my Porsche sales friend yesterday and he said this month has been terrible on sales for him/dealership. Nobody is buying, but February was great as it always is.
GM is asking tons of employees to voluntarily be laid off, they are shutting down Silverado/Sierra truck plants due to lack of sales and keeping truck values at current levels.
Car loan rates creeping up along with mortgage rates are not helping with the new car sales. People might be able to buy a used car with cash sitting in their bank account, but most Americans cannot outright pay for a new vehicle and usually use loans.
Who wants a loan that is over 5% since people are not used to high rates?
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Nice Article from NPR News
