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Does car depreciation not exist anymore?
Posted on 5/24/24 at 8:27 am
Posted on 5/24/24 at 8:27 am
I'm seeing used cars on the lots with 15k miles selling for the same price as brand new ones. Why on earth would you buy lightly used cars at this point if new is the same price? Cars used to drop like 10k price after being used.
26
Posted on 5/24/24 at 8:29 am to LoneStar23
They’re an investment now. It’s called inpreciation.
Posted on 5/24/24 at 8:29 am to LoneStar23
I too am confused about the modern world.
Posted on 5/24/24 at 8:29 am to LoneStar23
quote:
Does car depreciation not exist anymore?
Only when it benefits the dealer and for trade-in value. After that, the price is jacked back up to whatever the hell they want.
Posted on 5/24/24 at 8:31 am to LoneStar23
Are they selling for that, or is that the asking price
Posted on 5/24/24 at 8:32 am to LoneStar23
If it’s a Toyota that has been SOP for a while.
Posted on 5/24/24 at 8:33 am to LoneStar23
I've seen YouTube videos where dealers are taking brand new cars with 2 miles on them and slapping them as used cars. They take the door sticker off so you can't see the MSRP and the jack the price up.
Posted on 5/24/24 at 8:34 am to LoneStar23
I was helping a family member shop for vehicles, used with 1-2 years of use and 20-30k miles were $35-37k and brand new are $40-42k. The kicker is used financing is 6.5-7% while new offered 3.89% through the dealer. If you finance for 3-4 years then financially it’s damn near break even for a new vehicle. I don’t understand how that’s not working itself out financially?
This post was edited on 5/24/24 at 8:35 am
Posted on 5/24/24 at 8:40 am to LoneStar23
quote:
Why on earth would you buy lightly used cars at this point if new is the same price?
Depends on the make and model obviously but good luck buying new in demand models at the advertised msrp.
Posted on 5/24/24 at 8:43 am to LoneStar23
Idiots obtaining credit pushing the values up. Capitalism has issues when uninformed consumers spend on credit.
Posted on 5/24/24 at 8:44 am to LoneStar23
I have an old school relative who still thinks new cars have massive depreciation.
It just isn’t that way on cars now a days.
Unless you get into European luxury sedans.
It just isn’t that way on cars now a days.
Unless you get into European luxury sedans.
Posted on 5/24/24 at 8:47 am to LoneStar23
Cars are the new wine 
Posted on 5/24/24 at 8:48 am to LoneStar23
quote:
I'm seeing used cars on the lots with 15k miles selling for the same price as brand new ones.
I traded in a 115,000 mile 8 year old RAV for $11,500 and they're selling it now for $16,900
Posted on 5/24/24 at 8:48 am to LoneStar23
[img]I'm seeing used cars on the lots with 15k miles selling for the same price as brand new ones. Why on earth would you buy lightly used cars at this point if new is the same price? Cars used to drop like 10k price after being used.[/img]
They can't do that unless the car has been previously titled - which if it were purchased by the dealer and deemed a demo, that would work, but either flat out illegal (or if not illegal in contravention to agreements with the makers) or at best disingenuous and a nefarious business practice.
I first saw something like that a couple of years ago on a Bronco sport - car had about 2K mi on it and dealer was asking 10K over the stickered MSRP (sticker was in the glove box). I def had a good laugh at that one - I could tell those shite boxes weren't worth what the MSRP was much less a 10K premium.
They can't do that unless the car has been previously titled - which if it were purchased by the dealer and deemed a demo, that would work, but either flat out illegal (or if not illegal in contravention to agreements with the makers) or at best disingenuous and a nefarious business practice.
I first saw something like that a couple of years ago on a Bronco sport - car had about 2K mi on it and dealer was asking 10K over the stickered MSRP (sticker was in the glove box). I def had a good laugh at that one - I could tell those shite boxes weren't worth what the MSRP was much less a 10K premium.
Posted on 5/24/24 at 8:49 am to LoneStar23
I bought my daughter a 3 year old Toyota Yaris with 30,000 miles on it in 2018 for a shade under $11,000. It was totaled in early 2024 when it was 9 years old with 90,000 miles on it. The insurance company gave her $13,000 for it. Truly insane.
Posted on 5/24/24 at 8:53 am to LoneStar23
quote:
I'm seeing used cars on the lots with 15k miles selling for the same price as brand new ones.
Because those new ones often have limited supply and carry dealer markups above MSRP. This has been an issue since COVID.
Posted on 5/24/24 at 8:54 am to LSU_postman
quote:there are laws concerning this. I don’t see how it is legal, who would the first owner be?
I've seen YouTube videos where dealers are taking brand new cars with 2 miles on them and slapping them as used cars.
Posted on 5/24/24 at 9:03 am to baldona
I hope my truck last til I die so I don't have to deal with all this nonsense.
Posted on 5/24/24 at 9:05 am to LoneStar23
Try trading your car in and there you'll see the depreciation.
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