Jane Jetson had a very "smart" hairstyle.
Posted on 09/13/2021 4:25:31 PM PDT by American Number 181269513
Junked and wrecked cars have become more expensive, adding another hiccup to the wild used car market.
Per Bloomberg Opinion, prices for wrecked cars are skyrocketing now. Most of the time, these junked cars are sold at auctions. Insurance companies and sellers earn a piece of the pie when the cars are sold. And it seems that these cars are going for massive prices.
For example, Copart Inc. — a $34 billion company that specializes in auctioning wrecked cars — said this week that it had its highest-ever selling prices for auctioned-off cars. This has come as vehicles have become technologically advanced. Something as simple as a fender bender will become expensive to fix due to the advances in car technology. So, insurers rather call a car “totaled” and sell it through an auction rather than repair it.
And the current market for used cars has impacted these sales, too.
“The current tight market for used vehicles in the U.S. may inspire more domestic car shoppers to consider a salvaged vehicle with some minor wear and tear instead,” according to Bloomberg.
We were promised flying cars by this time, look what we got.
Airbags, airbags, airbags.
The cost of replacing an airbag can be $1,000 to $1,500. If both driver and passenger bags deployed, that’s $3k right there.
And, no, it is not because of covid schmovid. It is because of new vehicles will all be electric and the only gas cars you will be able to get will be used cars. Hence, cars that might be wrecked already exist as gas cars and can be resurrected by repairing them. Also the large parts like engines and transmissions will be valuable later on. And it isn’t much later. He who hesitates is lost. 2030 is right around the corner.
gotta waste trillions in the middle east first.
Drove past one of the local new-car dealerships and their lot was almost bone dry. I surmised they were waiting for the 22’s. But now I’m hearing there aren’t a lot of 22’s to get.
Cannibalized for spare parts like microchips unavailable through the usual supply channels. A significant sign of economic decay.
Jane Jetson had a very "smart" hairstyle.
But the isurers have to cover the car then, and that is no small change.
A new door for my older auto cost at $1000+.
I found a used, exact duplicate down to the paint, for $125.
I vote ‘no’ to flying cars. Mainly because the rolling variety are dangerous enough in the wrong hands without compounding it with flying. Flying buses are safer than rolling cars when highly trained professionals are piloting them. But the accidents can be horrific.
I am in need of a car. Prices are ridiculous though. I decided to wait it out. We’re sharing a car and that’s better for earth mother anyway.
I totaled my old truck hitting a deer. When I realized both bags deployed I was SO mad knowing what it meant. “It was a deer!! We didn’t need the airbags!!!”
If I had been in town (rather than 1,000 miles away) I would have been tempted to have bought it back from the insurance company and fixed it up. I did some research and you can get airbags for fairly cheap and install them yourself. But - I’m not sure if insurance or titles would agree with that.
Anyway, I got a call from the dealer and they asked me if I'd like to SELL IT BACK TO THEM.. LOL
I said thanks but no thanks I love that car. I guess THAT'S how much used cars are going up.
Some insurance companies will not insure a car that has a salvage title. You can have a title “rebuilt” but some companies still won’t touch it.
People want to buy an electric and/or auto-drive car, but they are not quite ready to jump in, so they’re buying a used car to get them by until they are ready.
The electric car market is exploding now. The self drive car market is going to explode within a year. Both markets are just waiting for the product to be available. And, they are all built by robots. All the down stream employment will not materialize either. Trucks will be automated. Fast food will be automated. etc.
Unemployment is going to explode, right up in to the upper middle class — doctors and lawyers will suffer big. English and history majors will be panhandling.
Things are going to change faster than we can perceive.
Old used cars. Move over Cuba.
I think you miss the point that the “used” market went sky-high this past year thanks to COVID hysteria, shutting people out of jobs and losing money.
The high tech is just adding to it.
And the network canceled CHiPS long ago. Now they have this trend. Too late.
What’s driving this is there are a lot of YouTube channels where guys are buying luxury cars off of Copart for cheap then fixing them. I’m guessing that put a spark in a bunch of people to do the same.
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