Used car prices WAY up
 

Like I thought, prices have gone through the roof on used cars (and lumber and houses). I regret giving a family member my Silverado thinking I could find a newer replacement easily, note how they've gone up 41% !

Inflation, big brother integration into new vehicles and the push for electric cars nobody wants, and the sticker price of these new vehicles people are keeping their ICE cars, driving up the cost of used. Not to mention, purchasing power and cashflow goes down considerably when inflation increases. More people are buying used, over new for various reason. That's just my worthless opinion.

You must be married, that's about the only time I can think where one's opinion is not valued :mad0259:

This will all calm down in 6 months when everything gets back up to speed. Some of the used car prices I've seen are just ridiculous. I was looking to pick something up, but I think im going to have to wait a while, or just buy new.

Chip shortages aren't helping new car sales either.

Yeah my blue book value went up on my car $4000 in the last month.

I was looking to buy a good used muscle car for the family this weekend. Their preferred was a Challenger. V8s way expensive and even v6's wanting the same price as a new car if it is 1 or 2 years old. 30k+ on a used v6.
Just updating that the market is still crazy on used cars 10years old or less.

https://wolfstreet.com/2021/10/07/us...ket-gone-nuts/
Over the first nine months of the year, the average resale value of a one-year old vehicle jumped by 25%, or by $7,759
Used vehicle wholesale prices spiked 5.3% in September from August, to a new record, according to Manheim this morning, the largest auto auction operator in the US and a unit of Cox Automotive. This spike in the Used Vehicle Value Index more than wiped out three months in a row of declines that had spread false hopes that the used vehicle craziness would finally abate.
The index is now up 27% from September last year when this craziness was already well underway. And it formed a record two-year spike of 46.4% from September 2019.
The sales conversion rate at the auctions rose throughout September and in the last week of September surpassed 66% compared to 52% in September 2019 as dealers were more aggressive at buying vehicles. This, according to Manheim, indicates that wholesale demand will likely remain strong through October:...

The government has been strictly on this one