Wrecked cars are soaring right now because of COVID-19

Deseret News ^ | Sep 13, 2021 | Herb Scribner

[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.

[MrLucky1966]

I don't have any hopes for self driving vehicles. I Door Dash for a living (I've gone Galt to the best of my ability and will do so as long as I can survive) and GPS screwed me up so many times, I'd either be drowned in the Ohio River, off a cliff (or be part of it) or making love to a tree where it says there is a road but there is none. Many mines, the bum steers took me 4 miles from where I should be and thus was late. I can see maybe a self driving "slave semi(s)" who would follow a master semi with a human driver but beyond that, no. It's like the old 1982 song by Donald Fagen from Steely Dan, "IGY," where they kept promising a Jetson's future but reality gets in the way.

Of course there would be other jobs that could be automated and thus a concern for workers, but I think driving is really not one of them. It's just a self driving network of vehicles is like a Tower of Babel, kick out one or two things, the whole things goes down. it is really unworkable.

[BBB333]

“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.”

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The headlights in our Honda CR-V cost $1,700 each.

[minnesota_bound]

I read a story today about the car plants shutting down due to the chip shortage. What surprised me was they said that new car costs are 40% higher because of the electronics !

[moovova]

“Old used cars. Move over Cuba.”

That’s pretty sad, isn’t it...

[minnesota_bound]

#16 Electric vehicles are exploding... for real ! : )

Electric bus bursts into flames, sets nearby vehicles on fire in China
https://www.youtube.com/watch?v=T71cVhxG_v4

There will be no survivors in a electric car fire except by a miracle happening.

[gloryblaze]

Thanks for telling your personal experience. I’ve given directions to a few people, and they say my address is all they need, but then get lost and it is really tough to explain where to go from there.

[Born to Conserve]

Right. Batteries are much more dangerous than gasoline.