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Started By
Message
car price predictions
Posted on 12/20/22 at 2:06 pm
Posted on 12/20/22 at 2:06 pm
I may be in the market to purchase a new vehicle soon. I know prices for vehicles have been rising stupidly over last couple of years. is that predicted to slow down or even crash down some in relative near future?
i dont need a new car right away, so i can wait it out some.
i dont need a new car right away, so i can wait it out some.
5
Posted on 12/20/22 at 2:15 pm to caro81
It’s gonna keep going up
Get you that xlt with the 72 month note and pay it off with a loaf of bread next year
Get you that xlt with the 72 month note and pay it off with a loaf of bread next year
Posted on 12/20/22 at 2:20 pm to caro81
Posted on 12/20/22 at 2:25 pm to caro81
Biden = high prices. It's a simple equation.
Posted on 12/21/22 at 8:11 am to Bard
quote:
If you can wait about 6-10 months, it should be well worth it.
Thanks for that and the links. I'm in the same-ish boat as the OP. My Tundra is still rocking but has 152k miles on it. As of now, I'm not interested in a newer truck, but I'm debating how long I want to drive this truck. Till the wheels come off and it's worth nothing, or trade it in while it's still running properly and I'll get at least something for it. With prices where they are, it'll be till the wheels fall off. But even a year longer isn't an unreasonable timeframe to wait.
I'll also be getting a 3/4 ton and I'm not interested in paying $70k for a vehicle.
Posted on 12/21/22 at 9:13 am to Bard
quote:
If you can wait about 6-10 months, it should be well worth it
Probably prices won't significantly fall until a few months after tax season. A lot of people use their tax rebate money as down-payments
Posted on 12/21/22 at 9:50 am to molsusports
very excited for this...
time for a new ride
Wow that's funny, I have a 2014 Tundra with 140k. Currently can't drive it as the catalytic converters were stolen a month ago and I'm looking at 3-4 months for the OEM replacement.
time for a new ride
quote:
Thanks for that and the links. I'm in the same-ish boat as the OP. My Tundra is still rocking but has 152k miles on it. As of now, I'm not interested in a newer truck, but I'm debating how long I want to drive this truck. Till the wheels come off and it's worth nothing, or trade it in while it's still running properly and I'll get at least something for it. With prices where they are, it'll be till the wheels fall off. But even a year longer isn't an unreasonable timeframe to wait.
I'll also be getting a 3/4 ton and I'm not interested in paying $70k for a vehicle.
Wow that's funny, I have a 2014 Tundra with 140k. Currently can't drive it as the catalytic converters were stolen a month ago and I'm looking at 3-4 months for the OEM replacement.
This post was edited on 12/21/22 at 10:00 am
Posted on 12/22/22 at 5:21 am to caro81
Car prices won't recede until they are able to glut dealership lots with options.
Now, if domestic makers were smart, they wouldn't do that and instead of giving $15K discounts, they could sell a few less cars and make the same money.
Now, if domestic makers were smart, they wouldn't do that and instead of giving $15K discounts, they could sell a few less cars and make the same money.
Posted on 12/22/22 at 2:56 pm to kywildcatfanone
quote:and less parts and service customers later on, less dealership consumables, less factory extended warranties etc.
Now, if domestic makers were smart, they wouldn't do that and instead of giving $15K discounts, they could sell a few less cars and make the same money.
Posted on 12/22/22 at 3:32 pm to Bard
quote:
If you can wait about 6-10 months, it should be well worth it.
Been hearing this for a year now.
Posted on 12/22/22 at 3:34 pm to caro81
User car prices have been trending way down in last 3 months, waiting still is best option but it's good to see things headed back in the right direction.
Used car pricing graph
Used cars are down almost 6% as a whole in the past 90 days with the average used car transaction price going from $30.6k to $28.8k. Teslas have been hit the hardest going down 15% in last 90 days on the used market.
Used car pricing graph
Used cars are down almost 6% as a whole in the past 90 days with the average used car transaction price going from $30.6k to $28.8k. Teslas have been hit the hardest going down 15% in last 90 days on the used market.
This post was edited on 12/22/22 at 3:35 pm
Posted on 12/22/22 at 5:28 pm to achenator
quote:
and less parts and service customers later on, less dealership consumables, less factory extended warranties etc.
And less vehicles they get to finance as well.
Dealerships would rather sell more cars.
Posted on 12/23/22 at 7:22 am to GeauxTigersGo
People who steal catalytic converters should be shot.
Posted on 12/23/22 at 7:34 am to thunderbird1100
quote:
User car prices have been trending way down in last 3 months, waiting still is best option but it's good to see things headed back in the right direction.
Used car pricing graph
Used cars are down almost 6% as a whole in the past 90 days with the average used car transaction price going from $30.6k to $28.8k. Teslas have been hit the hardest going down 15% in last 90 days on the used market.
Well crap. Toyota has been hit the hardest with the depreciating price.
What's up with Jeep spiking then dropping?
Posted on 12/23/22 at 8:47 am to notiger1997
quote:
Been hearing this for a year now.
Anyone saying this prior to the Fall was talking out of their arse. Prices had been rising due to chip shortages and supply chain issues. Those have been largely resolved since then, but we're about to see a glut on inventories (both new and used) because of jobs being lost (thus the wait 6-10 months).
The link to the car dealer on Twitter was pretty eye-opening on this as it lays out how lenders are gearing up to make 2nd vehicle loans because they know they will wind up getting vehicles back.
This post was edited on 12/23/22 at 8:48 am
Posted on 12/23/22 at 9:16 am to Bard
Last week the CEO of GM was saying that there was going to be a very good balance between supply and demand in 2023.
This post was edited on 12/23/22 at 9:31 am
Posted on 12/23/22 at 10:26 am to Drizzt
quote:
People who steal catalytic converters should be shot.
Some lowlifes stole the cats off a church van near here a few months back. They didn’t realize it until they’d loaded up some kids to go on a trip.
Posted on 12/23/22 at 10:43 pm to tgrbaybaye666
Consumers have shown their hands. Dealers now know what buyers are willing to pay and they will absolutely not back off…
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