Some used vehicles now cost more than their original sticker price

AP/Marketwatch ^ | 06/22/52054

[Responsibility2nd]

DETROIT — When it was new, the window sticker price on a typical 2019 Toyota Tacoma SR double cab pickup was just under $29,000. Two years later, dealers are paying almost $1,000 more than that to buy the same vehicle, even though it’s used.

Then they’re selling it to consumers for more than $33,000.

Welcome to the wacky world of U.S. car and truck sales, where the pandemic and a global shortage of computer chips have pushed prices to record levels.

In the past year, used vehicle prices on average have climbed 30%, according to Black Book, which tracks car and truck data. That’s created many crazy situations where high-demand vehicles are selling for more than they did when they were new, said Alex Yurchenko, the company’s senior vice president of data science.

“The market is very strange right now,” said Yurchenko. “Dealers need the inventory, so they are paying lots of money for their vehicles on the wholesale market.”

Yurchenko has found 73 models of 1- to 3-year-old vehicles being sold at auctions (where dealers buy their vehicles) for prices above their original sticker, which is called the manufacturer’s suggested retail price.

[Responsibility2nd]

It's always been a mistake to think that it's always better to buy a good late model used car rather than a new car.

But today's market is off the charts crazy. Rental agencies are holding on to their inventory. Instead of sending a car to auction at 20,000 miles, they keep it. Since new cars are hard to find.

If you need a new car now; buy new. Not used.

[LIConFem]

This is news? I paid $21,000.00 for a car with an original sticker of around $6,000.00. This was back in the early 90s.

[rxsid]

"Some used vehicles now cost more than their original sticker price"

Well...of course there is the entire category of "classic" cars, many of which cost orders of magnitude more now than their original sticker price.

[Billthedrill]

I offered a guy the full retail price of $4000 for a ‘67 Corvette, and he refused. Can you believe it?

[Responsibility2nd]

Relevant article.

https://jalopnik.com/this-2021-study-reveals-the-cars-you-should-be-buying-n-1846589469

I’ve often thought that I should buy a good clean used Jeep Wrangler. Drive it for a year. Then sell it for what I paid for it. If not even more. Then repeat the process.

Tacomas and 4Runners too. You might as well buy a new one. Used ones just don’t depreciate.

[Gay State Conservative]

I just brought my car for its “free” oil change.It’s rare...only 75 have been imported to North America from Germany...and when word got to the office that it was there they offered me about $2500 less than I paid.

[steve8714]

Old news foe Toyota and Honda owners.

[Responsibility2nd]

Can you be clearer? You paid $21K for a Six Thousand Dollar car in 1992?

Why?

[Robert DeLong]

Well, that depends on the car you bought. Classics and certain collectible new cars have a way of increasing in value.

So what classic car did you buy? 8>)

[Kartographer]

Don’t listen to this poster Call BR 549 GREAT DEALS IF YOU BUY NOW!!

https://www.youtube.com/watch?v=9xhTomqDTzE

[patriot torch]

Congratulations go out to comrade biden for placing himself at the head of the line and making his former running mate number two as America’s worst president.

[LIConFem]

It was ‘66 Corvette Roadster 325/300, Milano Maroon/white.

[LIConFem]

See post #12.

[wally_bert]

I had some routine service pulled on my 16 Tacoma and my wife got a few calls from the dealer wanting to buy it.

There was almost no new stuff on the lot. Chip shortage.

If any of the project vehicles were operational, I might have entertained the idea.

[Robert DeLong]

Nice car. Have you driven it on Route 66 yet? 8>)

[Mariner]

I have a paid for 2020 Toyota Tacoma, extra cab, 4wd, V6 with tow package that I paid $37,800 for.

It has 7,000 miles on it.

Anyone know what it’s worth?

[Roman_War_Criminal]

You could easily sell it for profit now. It may linger for a few weeks, but somebody will scoop it up.

Check out truecar or kbb.

[LIConFem]

I sold it in ‘95. Moved to an apartment building in Stamford, CT for work and had no place to keep it. I remember the day I sold it —- it was to a dealer on Long Island. I was on the ferry from Bridgeport to Port Jeff when the Jury verdict in the OJ trial was announced.

[Dennis M.]

Translated, our money is falling faster than a used car.

[minnesota_bound]

#2 the car salesman saw you a coming : )
They recorded the sale.
https://www.youtube.com/watch?v=ZtQJnliOCBQ