New Car Prices Are Skyrocketing This Spring

[ChargerChallenger]

General Motors said that its transaction prices rose by an average of $3500 per vehicle in the first quarter of 2021. Ford claimed that its high average transaction price of $43,600 in April 2021 was driven by a greater mix of more expensive SUV and truck models, which now comprise 94 percent of its sales since the company dropped most of its passenger-car models. It used the example of the Bronco Sport compact SUV to show how this switch has benefitted the company, as the Bronco Sport's average transaction price (ATP) of $31,800 in April was considerably higher than the out-of-production Fusion mid-size sedan's $22,600 ATP.

 

[mopar madness]

used pickup prices really going up, neighbor offered me 6 grand for my 02 ranger pick up, 2 grand more than i paid for it in 2015. I was crazy not to sell but I'm sure you know it is to get attached to a vehicle. 170,000 and she runs perfect. lol

 

[cole3986]

The dealer average trade in for my 2018 dually Mega Cab was 57K 6 months ago, now, 65K, I traded it in last Saturday, I traded it in for more than I paid for it, things are crazy

 

[Whatknot]

I recently sold a company pickup for only 8k less than I paid for it new in 2015, despite many dings and scratches, its been well used lets say.

 

[cole3986]

IMO, if you can find a new vehicle that does the job, trade in/sell the used vehicle, the used car/truck valuations are just insane. For example, I paid 17K to trade a 2018 Laramie for a new 2021 Limited with all the bells and whistles HO diesel, 4x4, 4.10 gears, etc., and that cost included taxes, tags and doc fees. Just crazy,

 

[NoCoHC]

I have a lease on a Ford Explorer that's up in a couple of months. I had originally planned to get rid of it and maybe get my wife another Jeep Grand Cherokee. The residual on the Explorer is now 5-6k below trade in value. In the past it was one of the quickest depreciating vehicles I've ever had. Think I'm going to just buy it drive it for awhile longer and see how long this craziness lasts.

 

[recurveman]

I own a 2019 Scat Pack widebody that I am trading in on a 2021 Hellcat. Ordered on March 27. Both cars from Koons. I got an email from their used car manager yesterday offering to buy my Scat Pack for the same price I paid for it. However with the trade-in price I got from Craig it was not worth it because of the tax savings in Pa. I have an estimated shipping date of May 26. I know that isn't set in stone but it is on the horizon. I see some negative comments about various dealers on these forums but my experience with Koons, and especially Craig Benner, have been more than satisfactory.

 

[Stormtrooper1320]

I own a 2019 Scat Pack widebody that I am trading in on a 2021 Hellcat. Ordered on March 27. Both cars from Koons. I got an email from their used car manager yesterday offering to buy my Scat Pack for the same price I paid for it. However with the trade-in price I got from Craig it was not worth it because of the tax savings in Pa. I have an estimated shipping date of May 26. I know that isn't set in stone but it is on the horizon. I see some negative comments about various dealers on these forums but my experience with Koons, and especially Craig Benner, have been more than satisfactory.

I've bought several vehicles through Koons (Chevy and Dodge), and never had a problem. Transactions and follow-up DMV work have gone smooth.

 

[Stormtrooper1320]

I just sold my 2015 F150 to Carvana for $8k more than I paid for it in Dec 2019. Used car values are insane right now.

I was able to get a discount and a bunch of rebates on my new truck also. Times are very strange right now in the automobile market.

 

[recurveman]

I just sold my 2015 F150 to Carvana for $8k more than I paid for it in Dec 2019. Used car values are insane right now.

I was able to get a discount and a bunch of rebates on my new truck also. Times are very strange right now in the automobile market.

Dealer lots where I live in Western Pa. are about three fourths empty.

 

[Stormtrooper1320]

Dealer lots where I live in Western Pa. are about three fourths empty.

They are starting to get slim down here with trucks.

 

[mopar madness]

They are starting to get slim down here with trucks.

yep ,the chevy dealership by my house used to be stacked with trucks ,now their lot is getting really thin.

 

[cole3986]

FYI, it is my understanding FCA just shut down the order banks, immediate price hike, they make what they make, take it at the higher prices or don't buy it.

 

[mopar madness]

wow just did a search on Kelley Blue Book and my lowly M6 has a trade in value of 51.9, that's about five grand more than I paid for the car used two years ago lol

 

[Stormtrooper1320]

wow just did a search on Kelley Blue Book and my lowly M6 has a trade in value of 51.9, that's about five grand more than I paid for the car used two years ago lol

It's insane right now. When I went from upside down to clearing money on my car, and made a profit of 8 grand on my truck......they had to go. And I can't believe that the truck I bought was heavily discounted and I got all the rebates on top of that. It may stay like this for months and the money may get better if the chip shortage drags out.

 

[Stormtrooper1320]

This guy gives a pretty good explanation of things going on.

 

[Whatknot]

I bought a used honda fit today, its my run errands car, if it gets a door ding, oh well. Low mileage, good little car, and the price was right. Sure its underpowered, but its also light as air, so 0 to 50 is actually pretty good considering. Slapped my employee some cash for it, and she can enjoy her new car she picks up tomorrow, along with the monthly payments, and high insurance rates. Choices choices choices, soon to include a new Redeye Charger in octane red.

 

[Stormtrooper1320]

I bought a used honda fit today, its my run errands car, if it gets a door ding, oh well. Low mileage, good little car, and the price was right. Sure its underpowered, but its also light as air, so 0 to 50 is actually pretty good considering. Slapped my employee some cash for it, and she can enjoy her new car she picks up tomorrow, along with the monthly payments, and high insurance rates. Choices choices choices, soon to include a new Redeye Charger in octane red.

If you fold down the rear seat you could probably fit a mini taco bar back there......ask @vortecd for the plans.....then you sould make a little extra change for gas money

 

[Whatknot]

If you fold down the rear seat you could probably fit a mini taco bar back there......ask @vortecd for the plans.....then you sould make a little extra change for gas money

Won't need to make much, I bet it sips gas. Be the first time since I was 20 years old, owning a car/truck that gets over 22 mpg.

 

[vortecd]

I don't need competition