Quote:
Originally Posted by chassis
Thanks. Sounds like this is a curiosity or hobby for you.
Looking for input from people actively in the market and engaged in a transaction discussion with a car salesperson.
I am seeing comparably equipped, year, etc. units come into the market at lower prices than existing listings.
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FWIW, I am routinely searching the market looking for my next "cheap" fun car and am regularly involved in finding trucks for work. Personal car market range in the 10-20k and work trucks in the 50-100k range.
And what I am seeing in the market is pricing on "top end" used cars, like 30-40k +, prices are coming down, but for the lower end used cars, like 20k and under, prices are staying fairly steady.
I recently sold my old truck for ~$35k a couple months back. 2017, fully loaded 90k miles. Similar trucks are now selling for the upper 20s. However, Trucks with less features or more miles that were selling for low 20s, are still going for low 20s.
With the price of new vehicles where they are, i think average price of a new car is in the upper 40s now, and with dealerships either having more inventory or over promising delivery times on orders or just people accepting now that in order to get a new car, you have to order and wait, the couple year old, low mileage cars arent in as high of demand. You no longer are forced to either pick up a year or 2 old vehicle at new car prices because there arent any new car options. But, the people that cant afford to drop 40k+ on a vehicle are still a very large segment of the market, and they are keeping the cheaper used car prices fairly steady.
You see the same in the housing market. Starter/entry level homes dont have near as much price fluctuation as higher end homes, because theyre are so many more people that are able to afford those.