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Price of used vehicles declining?

Supply and demand. Prices are pretty darn sky high on the older cars that I like. Freakin' B body Mopars are heading fast into E body range. Don't pay a whole lot of attention to the newer stuff.

Drit bikes seem to be a little more sensible now. Still high, but not double at least.
 
Stuff is sitting longer near me and seeing price reductions of 5k+ on vehicles that were in high demand not too long ago. Hoping to pick something up soonish. Marketplace is pretty loaded with toys and projects.
 
Bowe said:
Stuff is sitting longer near me and seeing price reductions of 5k+ on vehicles that were in high demand not too long ago. Hoping to pick something up soonish. Marketplace is pretty loaded with toys and projects.
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Now is a great time to be in the market for a sub 2k car that needs work.

I'm gonna love when the pain moves up the economic ladder and people are liquidating land and five and six figure commercial machinery. :smokin:
 
A local used dealership network just closed. They had 11 lots and 300+ employees. Northwest Motorsports.
 
Mikel said:
Don't know how accurate this is.

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I believe it, if they don't sell, they don't report, no price discovery

I feel it's the same thing with these empty strip malls around here, there's whole sections that were built in 2007 and have never had a single tenant, probably bundled into some new York teachers pension fund, if they never sell, they never "lose money"
 
Projectjunkie said:
I believe it, if they don't sell, they don't report, no price discovery

I feel it's the same thing with these empty strip malls around here, there's whole sections that were built in 2007 and have never had a single tenant, probably bundled into some new York teachers pension fund, if they never sell, they never "lose money"
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Not only that but they're all held by giant funds that don't want to defect and sell at a low price because that'll affect comps and then everything like that in their portfolio will get "devalued".
 
arse_sidewards said:
Not only that but they're all held by giant funds that don't want to defect and sell at a low price because that'll affect comps and then everything like that in their portfolio will get "devalued".
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Yup, like they held a million(ish) single family residences off the market till 2014 or so to keep the rest of their collateralized properties up.

They did it again, front loaded all their cronies with the stimmybucks getting ready to do it again, likely turning SFRs into mega Corp rentals

IMO the only deals the little guys can get are going to be fucking hammered houses where it's not economical to pay to fix, it's gotta be sweat equity. Anything that can be monetized, will be
 
arse_sidewards said:
TRINDU has any of your shit been towed off the low yet? :flipoff2:
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No :flipoff2:

I had to stop watching that clown. It's painful listening to him trying to evaluate the market. If he knew anything, he'll be slinging on the lots, not attention whoring for likes. The must've went through the woods really highlighted his ignorance.

Prices, are down. That being said there's a lot of subsets to the market. Dealers are having price wars, dealer trades, buying rates, etc to move new inventory. Unheard of in 2021, but the norm in 2018.

That has tanked the 1-3 year old inventory virtually overnight. No dealer wants to touch that shit right now.

The 15-20k truck (and others) market is still strong. People who can buy new, will buy new. There's no deal to be had on a slightly used as they're all still under water. Basically everything under $10k is trash, so that's the current 'sweet spot'. We still experienced high inflation the past few years.

BHPH love trash hyuandai, Kia, nissan, various sedans, etc. But they make their own market due to the clientele.

I have seen a big uptick in floorpan repo, and I love to see it. It warms my heart to see people who over extended lose their ass. Bank/owner repo not so much.

Mid December till recently was the highest rate of no sells I've seen in years. Past couple weeks it turned the corner.

The '3 and out' has always been a rule. Just rarely enforced.

TLDR: youtube guy is a talentless dickhead. Market is down, not crashing. People forgot what precovid market was like.
 
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Corey Young said:
A local used dealership network just closed. They had 11 lots and 300+ employees. Northwest Motorsports.
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Wow…. The whole business flopped????
I guess obtaining auction trucks that have been swamped in the south, or pickled in the east, undercoating, lifting, put big tires on em and sell em to the local flatbiller crowd could only last for so long!!!!!!
 
Gregj50!!!!! said:
Wow…. The whole business flopped????
I guess obtaining auction trucks that have been swamped in the south, or pickled in the east, undercoating, lifting, put big tires on em and sell em to the local flatbiller crowd could only last for so long!!!!!!
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It lasted for 28 years. They will probably start back up next year under a different name.
 
Seeing a lot of the older stuff around here at either "full-market value", or someone is dumping stuff for cheap.

Not much in between. The stuff getting dumped is gone in an hour or two.
 
Mikel said:
How common is this?
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That dumb fucks from NC make youtube vids? Probably all too common.

The amount of misinformation and sensationalism in his videos is amazing.

Summarizing that dealers floorpan, and they have to pay the floorplan, so they sell a floorpan car to generate cash... makes no fucking sense.
 
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$ per mile you expect to get out of a used car, based on how miles left before you expect it to shit the bed.
Buying one at 100K vs 200K on a 300k expected death vehicle is price % difference of what to you?
Is it reasonable to expect a vehicle with half the miles left to it to cost half as much?
 
Yota Up said:
$ per mile you expect to get out of a used car, based on how miles left before you expect it to shit the bed.
Buying one at 100K vs 200K on a 300k expected death vehicle is price % difference of what to you?
Is it reasonable to expect a vehicle with half the miles left to it to cost half as much?
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No, there are too many dynamics based on outside influences.
 
Yota Up said:
$ per mile you expect to get out of a used car, based on how miles left before you expect it to shit the bed.
Buying one at 100K vs 200K on a 300k expected death vehicle is price % difference of what to you?
Is it reasonable to expect a vehicle with half the miles left to it to cost half as much?
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No, the number of miles left on a car isn't going up with price. It's likely going down. A twin turbo 4banger isn't going to be reliably making it to 200k.

EPA mandates are pushing these engines to the ragged edge and its hurting reliability.
 
SLOWPOKE693 said:
All the manufacturers have to do is tell the EPA that they are not going to build cars for the American market anymore and things would change overnight. Why do you think it is that this doesn't happen? :laughing:
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Not how it works.
Customer is the driver.

When people don't buy cars, things change. See EV production declining hard. Not because the mandates have changed, rather because nobody buys them.

Follow the money.
 
4 days ago I Posted up a rusty POS but runs, drives no longer stops 05 2500 Dodge 4x4 hemi automatic $1500. four tire kickers so far. Pre-Covid sold a similar condition 97 2Wheel Dr. 5.2 for 1000
 
I had someone bring a Honda civic to me as a possible trade for my 96 f150

I could not believe the condition of the vehicle

I would feel bad trying to sell it for $300 let alone $3000

Beyond a shit pile , cannot describe how bad in every way it was.

Fuck this market right now
 
crispins said:
I had someone bring a Honda civic to me as a possible trade for my 96 f150

I could not believe the condition of the vehicle

I would feel bad trying to sell it for $300 let alone $3000

Beyond a shit pile , cannot describe how bad in every way it was.

Fuck this market right now
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Was it a white 91 5spd hatch with a clean rust free body? Because if it is call him back and I'll buy it off you for whatever you're asking for the F150 :laughing:
 
Bebop said:
Not how it works.
Customer is the driver.

When people don't buy cars, things change. See EV production declining hard. Not because the mandates have changed, rather because nobody buys them.

Follow the money.
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The billions the automakers spend/lose on EVs are just built into the price of the cars people are buying, just more .gov helping the american people.
 
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