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10-20-2022, 10:41 AM | #67 |
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Everything I've been reading indicates wholesale prices have been going down for a while now and inventory is up. I've also read that while retail prices have not changed much, dealers are a lot more willing to negotiate. I don't know if any of that is true as I have not tried buying anything recently.
I do follow some cars on sites like cargurus and many of them have been on the site for 60+ days are have seen several price reductions. That being said I think many dealers are still living under the impression they will get 2021 prices today. For example I've been looking at the new F150s and the C8 for the past couple of years. Before I could find maybe one or two used one within a 200-300 mile radius. Now I can find many of them. I can also find used F150 under MSRP which before they were selling used ones for more than MSRP. The C8s are still mostly over MSRP but I see prices coming down and inventory going up on used ones. I think the bubble is bursting and dealers are just sticking their head in the sand for as long as possible. |
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10-20-2022, 07:17 PM | #69 |
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11-17-2022, 07:56 PM | #71 |
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Market continues to soften.
Price drops of 14% in one month on cars I am actively discussing with dealer salespeople. Price drops of 12% over a range of cars over the past 3 months in my search window on Cargurus "price trends" page. The preowned market keeps getting better. New vehicle production continues to increase. Buyers are strengthening their position in this market. |
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12-20-2022, 10:18 PM | #73 |
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2023 means more lower prices for preowned vehicles.
https://www.coxautoinc.com/news/2023...e-predictions/ |
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12-25-2022, 05:02 PM | #75 | |
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Every month that a potential car buyer can put off their purchase improves their position in the market. |
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12-25-2022, 07:35 PM | #76 | |
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https://www.cargurus.com/Cars/price-trends/ |
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01-13-2023, 09:41 PM | #77 |
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Now is a good time to buy. Preowned buyers are facing a favorable market.
https://www.coxautoinc.com/market-in...lay-available/ |
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01-14-2023, 09:24 AM | #78 | |
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01-14-2023, 11:32 AM | #79 |
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And preowned prices are better than they have been, and are getting better.
The bottom is dropping out of the preowned market, so the deals will become juicier over time. |
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01-14-2023, 01:47 PM | #80 | |
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Average driver classics still nuts, ND Miata & 2005+ Elise/Exige=still nuts. etc..... |
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01-14-2023, 05:57 PM | #81 | |
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Miatas, Golf Rs and 911s, among others, will always be in insufficient supply and prices will react accordingly. |
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01-14-2023, 07:54 PM | #82 |
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Yeah i don't think "drivers cars" are a good barometer. Especially those under $100K because it's not ike the rate rises are killing those owners like a 600K ferrari. Anything analog is holding it's value as people are just not selling them in high enough quantities to meet demand.
Best to view the overall market. |
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01-16-2023, 11:45 AM | #83 | |
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As for overall used prices, went with a friend looking for a new vehicle this weekend and hit a bunch of dealerships and looked at a ton of cars. Her budget is 30-40k. Looking for a small SUV/Crossover. Since new cars are still basically all special order, we checked out a few of the used cars on the lot. Nearly every one that had low miles and a year or 2 old was still outrageous. Within a few grand of buying new. This was at Toyota, Honda subaru, mazda, etc. For example, could buy a 2020 Outback Limited with 20k miles on it for $35k, or order a new one, with a 4-6 month wait, for 38-40k. Pricier cars seem to have a wider gap between used and new, but in that "affordable" range, where people are usually in the "i need something soon that i can afford" category, prices are still pretty inflated. The high end cars coming down in price would affect the overall price index, but it definitely doesnt reflect the true status of the used car market.
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01-16-2023, 12:18 PM | #84 |
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Man I recently looked at the price for a "reliable and boring as could be" daily to replace my ageing Saab that is costing me a couple grand a year to keep on the road. Honestly i had to spend $15K before I even got REMOTELY close to something that didn't seem to need as much work as my Saab did. It was properly crazy. In the end the math said keep the saab.
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01-16-2023, 12:52 PM | #85 |
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I would definitely wait. The wholesale market is dropping out from under dealers and resellers. They will eventually have no choice at some point and have to start wholesaling inventory. If not...they will be quickly be under water, if not already. All the current used inventory was acquired at sky high prices. Wholesale market dropped 15% last year, all while dealers try to hold the line...only dropping average used inventory prices 3.8% last year. These resellers are playing a game of chicken and they are going to lose. Ask for a trade-in quote from these dealers, you will see what they really think used car values are at. It isn’t anywhere near what they have their used inventory priced at.
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01-16-2023, 01:26 PM | #87 | |
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01-16-2023, 02:31 PM | #88 |
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