Thread: Are used car prices going up?

hyper inflation.

My highschool car I sold for $800 in 2006 now goes for $4500 lmao. same year/make/model.

The stimulus money caused the used car market to shoot up big time and then the canal blockage caused a shortage of microchips that new cars need so the new car market is depleted making the used car market even more inflated. The dealer I talked to said it'll be fall before the new car market gets back to normal so I'd hold off on buying if at all possible

I have no idea wtf is gong on. I'd hoped to pick up a cheap Toymota' GT86 (frs, brz or something in 'merica) from some desperate dodgy second hand dealers but it never happened. Prices never dropped.

Kek, my '16 2SS is worth more now than when I bought it.

This has been happening since Summer 2020 since auto plants shut down

The used truck market is crazy right now. People are getting crazy good money for them.

I've been hearing this but IDK. I took my car to the dealer for maintenance the other day and asked what it was worth and they offered 8K under blue book value.

Originally Posted by mchabs

what kind of car though? Some cars appreciate or become more sought after.

A good example of this is the first generation Mazda Miata. I've seen them go for like 7k with 200K+ miles. This was pre-pandemic

They are outliers. NA Miata is worth some money because every other one has rusted to death (but is anyone even buying? these things were only popular because they were cheap af).

With 'no IC cars sold after 2030' countries there will be some real investment cars though, the trick is picking them. Even Porsche may not be a safe bet given their investment in syth petrol.

Originally Posted by mchabs

what kind of car though? Some cars appreciate or become more sought after.

A good example of this is the first generation Mazda Miata. I've seen them go for like 7k with 200K+ miles. This was pre-pandemic

1992 oldsmobile cutlass...

not exactly a collector car.

Bikes are going up too
ive sold 2 bikes and made a big profit

supply and demand

Originally Posted by cullenmichael34

Yes. Ask a guy who dropped 21k on a 2017 CX-5 w/ 80k miles anything. Had to drive 500 mi. to get it too

oops

I was looking at some used Lexus's, was curious and did some market analysis and the avg used price has only gone up 1k on those since mid 2020.

Probably depends on the car and their current demand.

Basically anything that has a silicon chip in it is going to skyrocket in price for the foreseeable future. Not just cars and GPUs but fridges, microwaves, tvs etc.

Welcome to the effects of high inflation and low supply brah.

Look around. It's not just cars.

Houses
Raw materials
Stocks
Crypto

Anything that can be considered an asset has shot up 20-30% this year.

Just LOOL@you if you believe we only have a 2% inflation rate.