Used car values are going back up again!!!

[ChargerChallenger]

My selling dealer told me yesterday used prices are actually going back up again due to huge new car shortages. My dealer has less than half of what he used to have in new cars. And it’s not going to be any better anytime soon.

 

[ACMAVRO]

Heard flooding from the storms had some impact as well

 

[EricG]

Good friend of mine runs a Toyota dealership and yeah they do not see a major inventory influx any time soon, it will stay the same or get even worse before it gets better! They have several models that are not being built right now, no timeline on when production will re-start, and he's already got his first batch of new Tundras sold too. Waiting lists for almost every car they make, they call people and give them 3 hours to decide, then call the next person down...crazy! Glad I have my redeye now. Getting More paranoid about theft every day! LOL

 

[MikeD1]

What I keep wondering about is all the vehicles that have been built & stored on lots awaiting computer modules before they can be shipped/sold.
They will all be 'last years' model by the time they hit dealer lots ! Will be interesting to see what (if anything) that does to pricing.

 

[GBLWRMR]

Interesting thought Mike. Like most things... A crash maybe sometime early/mid next year.

We sold our Lexus yesterday to Carmax who had a far better offer than anyone else and their lot as full! Seems like they are stocking up early while people are selling.

 

[MurderCat]

20-30% spike of car prices in just 2 years is ridiculous. There is a big crash coming soon-maybe even this winter.. history will repeat itself.

Once the correction happens I'll be picking up a new toy (UGR TT Lamborghini most likely)

 

[BULL]

Simple Supply/Demand curves...


Supply comes back, demand with go down.

 

[EricG]

Only thing is supply may not come back any time soon, even then pent up demand will delay any easing...

 

[Weather Man]

2023 until anything normal returns, 2022 gonna be rough.

 

[Hickster]

Rough was going to have sex with one of my ex ces. Just pick 1.