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Message
1
Posted on 7/14/21 at 10:03 am to dagrippa
quote:Trade in prices for used is cresting and new car prices are still rising
Some people have more than one vehicle per driver. Sell now and buy back in later.
Posted on 7/14/21 at 10:14 am to Hu_Flung_Pu
quote:
Hu_Flung_Pu
It's going to be a while, probably a year or more, and that's a best-case scenario.
For your situation, obviously you can get more money for your truck if you opt to sell it before your new one comes in, if that's an option for you. At the same time, trade-in values are as high as they've ever been, and you'd probably be surprised what the dealer would offer you for it.
I'd at least look up private party values online, then see what trade value is and see if the difference is worth the hassle of selling something on Craigslist.
Posted on 7/14/21 at 10:26 am to tadman
quote:
Last month my car got totaled (in a parking lot no less) and I'm holding off until this BS cools off.
Enjoy walking, I got tired of Huck's driving. Bastard would do 35 on airline hwy.
Posted on 7/14/21 at 10:35 am to goofball
quote:
You might be holding off for a while.
Our last deflation period was 14 years ago. OP is an idiot.
Posted on 7/14/21 at 10:51 am to tadman
I know it’s the OT, but man, why are some of y’all so ate up with what people do with their own money? If they can afford it, mind your business, unless you want to be their financial advisor free of charge.
Posted on 7/14/21 at 11:32 am to tadman
quote:
the 2021 is just as overpriced and out of stock???
Whenever I see the term “overpriced” I quit reading. Basic economics should be a required course in high school.
Posted on 7/14/21 at 12:06 pm to lsupride87
quote:
Why is he waiting? New car transactions are only up 5%. If you want a new car, and have a trade in, right now absolutely the time to strike
I’m sure you have some link ready to go backing this up. But I refuse to believe new prices for popular vehicles like quad cab trucks are up just 5%.
Posted on 7/14/21 at 12:51 pm to The Third Leg
Ned needs to google the pics. Can’t post them myself but like you said, Kentucky speedway was full of fords with no chips.
I was hoping they wouldn’t get them until the 2022 model years needed to come out, then they’d have a glutton of ‘21’s to dump but looks like they’re starting to get them in.
I was hoping they wouldn’t get them until the 2022 model years needed to come out, then they’d have a glutton of ‘21’s to dump but looks like they’re starting to get them in.
Posted on 7/14/21 at 12:54 pm to tadman
I bought a new truck a few weeks ago and paid well under MSRP.
I know the arguments about used vs. new. However, your rant
really only applies if you're buying used. Used trucks are being sold for close to new truck prices. Aside from the Ram TRX, new truck prices seem relatively stable.
I know the arguments about used vs. new. However, your rant
really only applies if you're buying used. Used trucks are being sold for close to new truck prices. Aside from the Ram TRX, new truck prices seem relatively stable.
Posted on 7/14/21 at 1:05 pm to tadman
Got a 3rd kid on the way. No choice but to upgrade one vehicle.
Posted on 7/14/21 at 1:37 pm to AUbagman
One of my buddies is getting ready to sell his 4 year old truck and buy the classic pickup he’s always wanted. Its a really nice restomod with tons of upgrades. Parts are cheap, insurance is low and it runs just as good.
Posted on 7/14/21 at 2:11 pm to tadman
quote:
Last month my car got totaled (in a parking lot no less) and I'm holding off until this BS cools off.
I see now why you are posting.
It's going to be 2022 at the earliest from everything I've been able to gather.
The best deals (they aren't good) are on the new vehicles if you can find one in stock. If you time it well, you might be able to buy a new vehicle (something less expensive than you would otherwise buy), drive it until the market starts to change, and then time a buy / sell opportunity.
Right now, you can basically sell a vehicle purchased in January for what you paid for it.
Posted on 7/14/21 at 2:15 pm to The Torch
quote:
I need a 10-15K used car for a new teen driver, he's squaking and I'm balking.
He doesn't want to hear all this "a bad time to buy a car" bull Sheet
You are in a bad spot.
Posted on 7/14/21 at 4:03 pm to EA6B
quote:
Whenever I see the term “overpriced” I quit reading. Basic economics should be a required course in high school.
I took all those courses. High school and college. There is no material change in the substantive product, ergo it is overpriced. I don't care if supply has shrunk and altered a curve, it's temporary phenomenon and I'm not falling for it.
Perhaps you should read Galbraith's "The Great Crash". The book argues that the 1929 stock market crash was precipitated by rampant speculation in the stock market, that the common denominator of all speculative episodes is the belief of participants that they can become rich without work and that the tendency towards recurrent speculative orgy serves no useful purpose, but rather is deeply damaging to an economy.
This "flip my OT-3500 for $10,000 more than I paid" is definitely speculative activity and is not enriching.
Posted on 7/14/21 at 4:08 pm to tadman
quote:
I don't care if supply has shrunk and altered a curve, it's temporary phenomenon and I'm not falling for it.
Then why are you even bothering to post this? You don't feel like buying a new car. Cool, good for you. Some people have expendable income and purchasing a new vehicle isn't a make or break decision.
The trade in Value on the 2021 Truck I just bought two months ago is higher than what I paid for it. Dealerships won't be getting inventory anytime soon and they need used inventory to sell.
Posted on 7/14/21 at 4:24 pm to PhiTiger1764
quote:Im not going vehicle by vehicle, simply giving the entire trend
I’m sure you have some link ready to go backing this up. But I refuse to believe new prices for popular vehicles like quad cab trucks are up just 5%.
Here you go, Edmunds numbers LINK
quote:so $5,00 jump, and 25% increase
All that pent-up demand is pushing car buyers into the used-car market, pushing those prices to unseen levels. The average price for used vehicles between April and June jumped to $25,410, up from $20,942 in the year-ago period, according to Edmunds.com — the highest price on record for the auto research firm. Used vehicle prices are responsible for one-third of the rise in consumer prices, according to the Labor Department.
quote:So $2,000 jump, and 5% increase
Edmunds said the average price of a new car in the second quarter was $40,827, up from $38,895 a year ago.
If you are trading in and buying new, you are coming out ahead of where you would have 1 year ago
This post was edited on 7/14/21 at 4:25 pm
Posted on 7/14/21 at 6:26 pm to lsupride87
quote:
If you are trading in and buying new, you are coming out ahead of where you would have 1 year ago
You are assuming trade values are the same as used values.
But, overall, you are right. Inventory is evaporating, but buying new right now is the best value. At some point, that's going to change (I think new prices are going up...not expecting much of a drop in used prices).
It's going to be a while before things change.
Posted on 7/14/21 at 6:32 pm to tadman
Used car prices are up like 30% in the last 3 month. New are only up 4-5%
It’s not a bad time for an upgrade if you’re buying new.
It’s not a bad time for an upgrade if you’re buying new.
Posted on 7/14/21 at 6:35 pm to tadman
Just steal one. No one seems to care.
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