Price of used cars...

[A Horse With No Name]

Does anyone have a rational idea of when car prices will start to fall?

[Robert Hall]

Supply and demand, I think..demand is outstripping supply for affordable used cars..

[SAmadei]

Sure, used cars will fall in price when the economy comes back enough that the average person's recovering credit can buy new.

[regfootball]

Supply and demand, I think..demand is outstripping supply for affordable used cars..

Where I am at, I noticed a bit of a bubble starting a few weeks ago. I think things have topped out some. The mfr's have been getting a little desperate to move new stuff too.

Trades even, we've had to back off slightly so as not to overpay.

As mentioned, credit and money flow is the real issue. A lot of folks can only afford payments on used. Everyone is hanging on to their cars. And no one has confidence to take loans even if they can get one.

[daves87rs]

Never.

Like everything else, prices are up, and going to stay that way. I just saw a 05 Cavalier base sedan w/77k going for 7995. No joke.

Large trucks (like the trailblazer) have dropped a bit, but small cars keep going up....And with small cars making large jumps in price in the last few years, expect the used car prices to do the same.

Sorry about the bad news...

[GMTruckGuy74]

I believe that in the latest Truck Trend issue there was a small news blurb about the rising costs of used pickup truck and SUV prices due to the fact very few were leased 2007-2010, which tends to flood the market with low-mileage used vehicles 2-4 years later. So in that case demand is far higher than supply = higher pre-owned market prices. I would imagine this applies to cars as well.

[CSpec]

Ah, good point Roger. If you do a search for a certified used car the vast majority are model year 2008 (coming off three year leases) and that story definitely makes sense.

[daves87rs]

Ah, good point Roger. If you do a search for a certified used car the vast majority are model year 2008 (coming off three year leases) and that story definitely makes sense.

Yep...

[A Horse With No Name]

I believe that in the latest Truck Trend issue there was a small news blurb about the rising costs of used pickup truck and SUV prices due to the fact very few were leased 2007-2010, which tends to flood the market with low-mileage used vehicles 2-4 years later. So in that case demand is far higher than supply = higher pre-owned market prices. I would imagine this applies to cars as well.

Here in Ohio I live in a community that borders urban and rural...the rural people need trucks for work, and the urban people are all hauling families around...and doing lots of business.

In the last two weeks, we've blown a motor in a Ford truck, lost a Diff in a truck with 200 plus K on it, and had major motor issues with another truck. We need to buy more trucks, and we like to buy used. Used truck prices for clean used work trucks are just out of site and off the planet.

As are parts...all the salvage yards here in Ohio want a couple grand for a low mile motor for a V 6 Econoline...

Amazing...trucks owned by people in my sons scout troup...couldn't give the damn things away two years ago...now some of them are worth what people paid two and three years ago...

[daves87rs]

Ouch!

[Cory Wolfe]

I'm hoping it lasts a little bit longer until I can unload the Legacy. As my mileage goes up, so does my KBB value, except for a random $1k drop back in August.

[GMTruckGuy74]

Yesterday I did a search on both Craigslist and at AutoShopper.com for '95 and '96 Oldsmobile Ciera's and was shocked at the selling price they are going for!!

[A Horse With No Name]

Yesterday I did a search on both Craigslist and at AutoShopper.com for '95 and '96 Oldsmobile Ciera's and was shocked at the selling price they are going for!!

My buddy with the body shop is getting big dollars for cars he used to be unable to give away...ninteites cavaliers that towing companies pretty much just crushed rather than worry about...he's fixing and getting good money from.

Everything seems to be getting higher in price.

[SAmadei]

Its like Cuba shortly after the embargo.

[A Horse With No Name]

Indeed, a Miata same year as mine, four grand MORE than I paid four years ago...same miles as I bought four years ago...

http://www.autotrader.com/fyc/vdp.jsp?ct=u&car_id=308371110&dealer_id=64082957&car_year=2002&model=MIATA&pager.offset=225&search_lang=en&start_year=2002&body_style=CONVERT&body_style=COUPE&body_style=HATCH&search_type=both&distance=500&min_price=6500&rdm=1318718523500&marketZipError=false&sownerid=596827&lastBeginningStartYear=1981&end_year=2008&showZipError=y&make2=VOLKS&dma=COLUMBUS_OH_WE&page_location=findacar%3A%3Aispsearchform&body_code=7&first_record=226&isFlashPlugin=true&default_sort=priceDESC&address=43146&sort_type=priceDESC&model2=GTI&max_price=18500&make=MAZDA&seller_type=d&num_records=25&cardist=156&standard=false

[pow]

Hmm, this makes me wanna dump the Passat for a new Focus. Wonder how much a 100K mi dub with dents and/or scratches on every panel goes for...

[ocnblu]

Unbelievable, the prices being asked for used Wranglers...

[A Horse With No Name]

Hmm, this makes me wanna dump the Passat for a new Focus. Wonder how much a 100K mi dub with dents and/or scratches on every panel goes for...

Agreed, new focus is sweet...and the price of used cars...ohmygod!

Unbelievable, the prices being asked for used Wranglers...

One wonders if the stupidity will never end....

[Satty]

Wranglers hold their value, they did before the economy tanked, they still do today. You'll pay $3,000 for a body with no engine, shouldn't shock anybody.

[A Horse With No Name]

Wranglers are awesome vehicles....

[regfootball]

Unbelievable, the prices being asked for used Wranglers...

x2.

cash for clunkers drove up prices on stuff. nowadays no one wants to trade in what they got and people don't want to or can't afford new.

Edited October 16, 2011 by regfootball

[Satty]

This thread prompted me to check out what our cars are worth. The Mini, even with a ton of miles, is still worth 2/3 of the original purchase price. The TDI hasn't fared quote at well,losing 40%. But its paid off, thanks to C4C and the awesome trade-in of the Prius, we only had to finance like $4k.

[A Horse With No Name]

TDI has dropped Value because of the HPFP issuee...if VW ever gets the fuel pump issues sorted out, that car will go back up in value.

[daves87rs]

This thread prompted me to check out what our cars are worth. The Mini, even with a ton of miles, is still worth 2/3 of the original purchase price. The TDI hasn't fared quote at well,losing 40%. But its paid off, thanks to C4C and the awesome trade-in of the Prius, we only had to finance like $4k.

Nice!