Posted on 02/18/2023 1:33:13 PM PST by CFW
Used car prices have soared, recording the largest February increase in 14 years, according to reports.
The spike in prices comes as inflation continues to drive consumer prices.
Wholesale used-vehicle prices increased 4.1 percent from January through the first half of this month, signifying the largest February increase since 2009’s full-month 4.4 percent gain, according to the mid-month Manheim Used Vehicle Value Index from Cox Automotive.
This comes just a month after markets were hit with a massive rise in used car prices, according to the Manheim Used Vehicle Value Index.
The used vehicle index rose to 234.0, down 7.3 percent from the entire month of February 2022, as seasonal adjustment drove a small part of the gains.
(Excerpt) Read more at slaynews.com ...
Lower trim
LS 4dr Hatchback (1.4L 4cyl 5M) with no options
Transaction type
Condition
Value
Outstanding
$6,622
Clean
$6,371
Average
$5,952
Rough
$5,407
We had a 70 maverick. Similar specs, but we had the automatic transmission.
“Not an accident.”
“Not a Joke...”
I bought a new 1969 beetle for $1969.00. I was 18 years old.
Symptom?
I had less than 6000 miles on the Spark, and other than surface paint scratches acquired in a parking lot, it was in immaculate condition. The dealer kept sending me emails begging me to sell the car to them. I had bought it from them originally and had it serviced there regularly. So, I stopped by to check what sort of deal they had in mind.
By the way I like the bigger Trax better. I sit taller in it with excellent visibility all around. Since I do not put on lot of miles on the cars, gas mileage is not an issue.
Yes, I drove a couple of Beetles back in the 70’s. First was a 60 that could get up to 60MPH as long as there was no head wind or going up hill. It didn’t have a gas gauge, just a lever on the firewall you switched to get an extra 1.1 gallons that would get you about 45 miles to get a fill-up. Just like a reserve tank on a motorcycle. My younger brother got his license and promptly rolled it.
Then a 63 that DID have a gas gauge, but still had the reserve tank thingie. That one would never start using the key/starter but any kind of a push start it was off and running.
They were pretty reliable but did have all the issues you mention. Plus, the brakes were pretty bad, too.
Read later.
Hubby and I owned several Beetles in our early years of dating and then marriage. For the last one, I think we put more oil in it than we did gas. We loved those little bugs. Of course, then the children came along and we needed something more family friendly, therefore, we purchased larger used cars. However, most of them still needed more oil added on a regular basis than they did gasoline.
We felt so grown up when we purchased our first brand new vehicle (with monthly payments no less). Four months after our last payment on that truck, a stoned young guy crashed into my husband as he was on his way home from work and totaled that nice paid-for truck. He also nearly killed my husband. After looking at the “value” the insurance company placed on that truck which was in excellent condition, we returned to buying used vehicles and never purchased one fresh off the show-room floor again.
You can purchase a good seven to ten year old vehicle which, if properly maintained, can last at least 10 to 15 more years for a reasonable amount of money. Or at least you previously could do so. Since Biden was installed in the White House, used cars have gone the way the price of eggs and everything else.
I’ll maintain my 2005 SUV as long as I can. I paid 6500 for it at 1.67% interest for two years through my credit union, paid extra each month and paid it off in one. No one can do such a thing now.
The “powers that be” want to make sure no one is able to freely travel. Limiting car ownership to only the “special” people is one of their avenues towards that goal.
Started with obama and Biden and no we have even more shortages and higher prices for everything under Biden and obama. Puppets of those like Soros.
BUT, when mid-level bank execs depend on minimizing losses in order to make periodic bonus requirements, many rules are avoided. The bankers are betting the house, and it's somebody else's house so they don't have an emotional attachment to it.
#67 You must be rich!
Quote: The new car prices seemed reasonable
#69 I have a 2019 Honda Accord with 4cyl and a timing chain. It is suppose to last the life of the car. It was a reason to get the 4cyl over the 6cyl.
I had one of mine fully kitted out with an 8 track. You may remember those, 8 tracks of music and you got to listen to 2 tracks at once.
I remember more than once reaching down to turn on the reserve after the engine quit. Thankfully I was never rear ended. I also had starter issues on occasion that took a long time to get fixed, as at the time I was perpetually poor. I used to park on hills so I could get it started without pushing, although that was also an option that worked since bugs are so light.
https://www.cnbc.com/2023/02/14/bill-smead-us-inflation-is-far-stickier-and-could-last-a-decade.html
1970 Ford Maverick was my first car; bought it in 1973.
My local guys are fair traders. I’m on my 3rd new Toyota in 20 years. Never had to deal with any BS with the brand.
That’s what I think it is. It’s in the shop now, I’m just waiting for the phone call
Thanks - I’m still mulling it over.
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