Posted on 06/22/2021 4:17:48 PM PDT by 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.
(Excerpt) Read more at marketwatch.com ...
Cash for clunkers still plays a part in this.
Just sold a ‘06 Wrangler Unlimited with 247K miles for $6000. You couldn’t give most vehicles away with those miles.
Carmax will give you a bonafide quote on line for it.
You don’t even have to drive it over there.
They’ll give you a firm offer without seeing it. Of course it better match up condition wise to what you say it is.
We took our old 2004 GMC Yukon XL (325,000 miles) into the dealership to see if fixing it was going to cost more than it was worth. It just needed a new battery and oil & filter change. Before we left, we had three people at the dealership, including the service manager, asking if we wanted to sell it.
I was looking to buy a gently used Tacoma in ‘19. The prices compared to new ones motivated me to buy a new one. When you take into account the new truck warranty, the free 25,000 mile maintenance and the financing Toyota offered it was a no brainer.
And ever older news for owners of really old Benz, Porsche, Ferrari, Rolls Royce, etc., and even some models of GM/Ford/Chrysler.
Example: 1909 Ford Model T original price ~$825, adjusted for inflation ~$23,800. [1].
That same car, in "concours" condition would be valued around $96,000. [2].
Who know how much one would be worth in all original brand new condition (if it had survived as such, somehow).
I know! My Tacoma is a little gold mine! Yee ha!
Am trying to sell jeep
Sahara altitude 4 door
2015
Approx 55k
Cash for clunkers still plays a part in this.
________________________________________
Maybe. But the Pandemic shutting down factories and then the chip shortage are the real reasons.
There are tens of thousands of brand new Fords stashed all around Detroit that are waiting on chips to be complete and ready for sale.
GM has started selling vehicles without that stupid start/stop feature (which everybody hates) because there are no chips that are necessary for the start/stop.
How do I do that? Call them?
In other words, you stole it.
For the fun of it, I thought I could get a few bucks for a project K5 that I have sort of lost interest in. A few people have asked about buying before.
I even put it on Craigslist being honest about its history and all I’ve done. The photos say a lot.
Barely a nibble. Some guy wanted the shell.
Guess it will get fixed up one day.
anyone interested in a ford pinto?...
See post 23.
You can get a cash offer online. From Carmax.
Now you might try and sell it yourself using Facebook Marketplace or Craigslist and probably get more money. But Buyer (and Seller!) Beware.
You should’ve sweetened the deal and also include their original sales tax.
For my new Honda SUV, I managed several thousand off from the sticker and received absolute top for my trade-in.
I could sell my 1-year old for much more than I paid, but I'll keep it for another 7 years, thank-you.
The best time to buy a car is when it's a buyers' market.
Go to the Carmax Website.
Fill out the Contact information including the VIN and answer some questions regarding the condition of the Vehicle.
They will give you an instant offer. They do run a CarFax (or another company) vehicle history report to be sure the information you give them is accurate.
You print out the offer and show up at their closest location within seven days. They look the Car over and give you a check.
I’ve sold them two Cars. Easy as Pie.
I have been thinking about buying a "classic" car just because the used car market is so inflated. I recall seeing auctions on cable TV where rather ugly, unpopular models, actually sell at rather low prices; much lower than used cars today. A lot of those cars are well maintained and a labor of love of their owners. They often sell them when there is no more work for them to do on the car. Then they find they dumped money into a losing proposition.
I am looking for basic transportation and think that an older land-yacht that has been well-cared for would be pretty cool to drive around. I don't drive a lot these days, so a gas guzzler really isn't that much of a problem. Hopefully, the auctions haven't changed in what people are asking/bidding for cars like that.
I just missed out on a 69 Toyota Landcruiser.
Took too long thinking about it and poof, it was gone.
Didn’t run and the Body needed some work but it was complete with the Hardtop. Had a 350 Chevy in it which I would have pulled out anyway.
I can kick myself for not jumping right on it. It was a local guy who put it on Fakebook.
Great, now I’ll be up half the night staring at the ceiling grumbling to myself. LOL
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.