Used Car & Truck prices

[jgilliam1955]

I am shocked at the prices. I paid $24K for my 2015 Chevy Colorado in 2018. I looked up the price for the same year's truck & it is now $33K for a 2015 Colorado.

[ShelbyM]

Take it by Carmax, find out what the true value is. May be time to upgrade!

[Jon in AZ]

Of course it’s a great time to sell, but for the same reasons, it’s a terrible time to buy, so what will you upgrade to?

My friend was in an accident about four months ago that totaled his vehicle. In spite of a good insurance payout, it took two months to find a replacement that didn’t come with a huge mark-up over MSRP, and he was not able to be choosy about color and options.

[jgilliam1955]

This is Carvana prices. I keep my vehicles until the wheels fall off. My wife's car is a 2005 Honda Civic. Has 79K miles on it. Still going strong.

[jgilliam1955]

Originally Posted by Jon in AZ

Of course it’s a great time to sell, but for the same reasons, it’s a terrible time to buy, so what will you upgrade to?

My friend was in an accident about four months ago that totaled his vehicle. In spite of a good insurance payout, it took two months to find a replacement that didn’t come with a huge mark-up over MSRP, and he was not able to be choosy about color and options.

Saw an article about the new Ford Lightning Truck. Markup is $30K in some dealships.
https://insideevs.com/news/557986/30...150-lightning/

[Jon in AZ]

Originally Posted by jgilliam1955

This is Carvana prices. I keep my vehicles until the wheels fall off. My wife's car is a 2005 Honda Civic. Has 79K miles on it. Still going strong.

Our 2006 CRV has 227K miles. I'd drive it anywhere and wouldn't part with it even if someone offered me a brand new one in exchange. Only non-routine maintenance was a thermostat at 190K and a set of front brake pads at 205K. No expensive timing belt replacements on the chain-driven 2.4L. Leather interior is super durable.

My friend has a 2003 Civic with 350K miles, and it's still his daily driver. Yours is barely broken in. Those older Hondas are tough as nails!

[Alex Adams]

Originally Posted by Jon in AZ

Of course it’s a great time to sell, but for the same reasons, it’s a terrible time to buy, so what will you upgrade to?

Some car companies are allowing you to order your car rather than taking dealer stock. In the case of Ford, incentives available at the time the car is delivered can be used but you will be starting from MSRP. At least you won't be gouged and you can drive your old car until the new one is ready.

[oldwave]

In 2017 I bought a 2004 f150 with 37,000 miles on the clock from 12000. Oil changes and meticulous maintenance it now has 92000. I’m keeping it until the market quits being insane. It will by the way bubbles always do. Dealers will get hungry again.

[jgilliam1955]

Saw an article some car companies will no longer be sending vehicles to dealerships to sell like before. They will send 1/4 of the inventory.
They found out folks will buy from the website directly. Then the vehicle will be delivered to the dealer to turn over the buyer. We may be seeing a change of business model between the dealership & factory.

A few years ago my daughter bought a car from Carvana. She was not happy with the car. They came back & picked it up no questions asked.
Then a month later found a car she liked. She sent in information about her truck & was offered $19K for it.
They dropped off her new used car & picked up her truck.
The next day she got a call & they stated they had gone over her truck & had underpriced the truck. They added $5K to the trade-in price.

[jerrybob]

Originally Posted by jgilliam1955

This is Carvana prices. I keep my vehicles until the wheels fall off. My wife's car is a 2005 Honda Civic. Has 79K miles on it. Still going strong.

2005....heck.....that's brand new. I drive an 85 honda civic around town......she only has 88,000 orig miles.....once belonged to my wife's mom.....she was the little old lady from Pasadena. Great car.....will go forever.

[vintageracer]

Not a lot has changed when buying a new vehicle and trading your old vehicle other than waiting.

Your old vehicle trade in is worth a lot more than in the past and you will now pay sticker MSRP for your new vehicle. The DIFFERENCE you pay between your trade and the new vehicle is still about the SAME OR LESS than than it has been before all the Covid foolishness.

Yes there are some models that sell new for over MSRP sticker however even
those if you look you can find them available for purchase at MSRP.

Big difference is new vehicle inventory on lot's is non existent. You either order or take a vehicle that is coming in that is not spoken for/sold to someone.

You have to be a LOT more patient when shopping in today's new vehicle buying world. Yet in many instances the DIFFERENCE you pay by purchasing a new vehicle and trading in your old vehicle is the SMALLEST AMOUNT OF MONEY it's been in YEARS!

Now is a GREAT TIME to trade in the old vehicle and buy yourself a NEW vehicle!

[tractors1]

We sold a mouse damaged 2019 RAV4 Limited Hybrid (for $800 more than we paid for it new) outright to a BMW dealer - about $4K more than a Toyota dealer would give us as a trade in.


Another Toyota dealer had a 2021 RAV4 Hybrid already landed on the dock in Portland, Oregon that wifey wanted. Took a whole month to get it from the dock to the dealer 17 miles away! Had to pay $1200 over MSRP but they included dealer-installed paint protection film on it.

[floyd]

The chip crisis has pretty much been solved, but inflation is soaring...
So... To buy or not to buy?...

My guess is that the used car prices will still be buoyed by inflation but will return to normal as compared to new.
Likely waiting another year until inventory builds, might be best, unless you just want to sell that extra car and save the money for a year at virtually no interest.

I bought my Ranger at introduction and had to work HARD for a halfway decent deal. Then the chip shortage hit and I could have sold it after two years for thousands more than I paid.I think that sorta thing is about over with now though, as production is ramping up.

In other years I waited for year end incentives and high inventories to get really good buys.

[DavidG]

Originally Posted by jgilliam1955

I am shocked at the prices. I paid $24K for my 2015 Chevy Colorado in 2018. I looked up the price for the same year's truck & it is now $33K for a 2015 Colorado.

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Good thread but you forget one BIg factor. Here in the west there have been HUGE forest fires . Just yesterday near Colorado Springs hundreds of homes burned, possibly hundreds of cars, jeeps, trucks destroyed. . In N Cal I toured bad fires where next to the charred foundation of the house was the guy's travel trailer, utility trailer, his snowmobiles and skidoos. I was in Oregon this summer when my Ford Ranger engine went out. Hundreds of people had lost pickups and cars and hardly any PU could be found for $60,000 used. Motels and campgrounds were full and all storage lots were full, but I had some welding done on my Scamp so the welder would store my 13'Scamp for a month. Railroads were burned so no trains back to Calif . A guy at the Ford dealer sold me his nice Prius so Julie and I could get home, then I flew back a month later...by way of Seattle! Canada too has had fires , I bet thousands of cars and pickups have been lost in a couple of years. The cars,vans, trailers are just stacked and sent to the crusher, some are actually melted. If a fiberglas boat burns the engine falls out and rolls down the hill. Devastation like you can't imagine, and changes need to be made , both at home and in Washington DC.. Julie and I are in a group called 'Firewise USA', which helps plan and carry out cutting and removal off trees and brush in our mt area. Plan ahead! DG

[floyd]

Originally Posted by DavidG

================================================== ======


Good thread but you forget one BIg factor. Here in the west there have been HUGE forest fires . Just yesterday near Colorado Springs hundreds of homes burned, possibly hundreds of cars, jeeps, trucks destroyed. . In N Cal I toured bad fires where next to the charred foundation of the house was the guy's travel trailer, utility trailer, his snowmobiles and skidoos. I was in Oregon this summer when my Ford Ranger engine went out. Hundreds of people had lost pickups and cars and hardly any PU could be found for $60,000 used. Motels and campgrounds were full and all storage lots were full, but I had some welding done on my Scamp so the welder would store my 13'Scamp for a month. Railroads were burned so no trains back to Calif . A guy at the Ford dealer sold me his nice Prius so Julie and I could get home, then I flew back a month later...by way of Seattle! Canada too has had fires , I bet thousands of cars and pickups have been lost in a couple of years. The cars,vans, trailers are just stacked and sent to the crusher, some are actually melted. If a fiberglas boat burns the engine falls out and rolls down the hill. Devastation like you can't imagine, and changes need to be made , both at home and in Washington DC.. Julie and I are in a group called 'Firewise USA', which helps plan and carry out cutting and removal off trees and brush in our mt area. Plan ahead! DG

Certainly a tragic situation and probably a huge logistics problem, but there are nearly 300,000,000 vehicles registered in the U.S.


"Plan ahead" is great advice! I have always kept my vehicles in good condition so I could trade when I want to not when I have to.
Unfortunately unforeseen fires, tornadoes ,floods, hurricanes and accidents can really put a crimp in the best laid plans of mice and men!


It seems all are subject to a (plow)SHARE"

[WaltP]

My previous trailer was a 2002 17' Bigfoot.
Bought it in 2013 for $7,900.
Sold it in 2017 for $12,500 (with considerable upgrades).
There's a 2003, same model, up for sale now, asking $32,000

.nuff said.

Walt

[oldwave]

I sold my 2017 escape f0r 34, I expect I could have gotten 40

[floyd]

Originally Posted by oldwave

I sold my 2017 escape f0r 34, I expect I could have gotten 40

SCARY! Ain't it?

[Steveg.]

Ford will only make trucks and the mustang in the future. Do you really want to own one of the last cars?

[DavidG]

Originally Posted by Steveg.

Ford will only make trucks and the mustang in the future. Do you really want to own one of the last cars?

Wouldn't mind. But I'm really looking at TRUCKS ! lol