Quote:
Originally Posted by jamala00
They'd be the last people I'd believe. 
All though I do see on AutoTrader on many vehicles right now "Price Reduced". So maybe there is some truth to it. If dealers gave high trade values and now prices are coming down, they for sure would want to dump them now. Personally unless I needed a car, I wouldn't buy anything right now. If I needed a car, I'd buy one from a private party that isn't trying to make a mint. |
Prices do seem to be coming down. I recently sold my Challenger (for the ZL1) instead of trading it in. I put it out for what I paid for the car a year ago but still $3,000 less than the KBB value.
Most dealers offered about $4,000 less than my asking price. When I mentioned that I had a dealer willing to meet me $200 below my asking price, I had other dealers
encouraging me to sell to that dealer... So I did. They initially marked it up 6 grand but they have already cut that in half.
I added a few links below for visualization (in case someone doesn't want to believe a random stranger on the internet) People are financing more for longer with very little savings left. As of the latest data (April) prices were at an all-time high. It's not
absurd to think used auto demand is dipping and prices are starting to follow.
This is one of those inflection points where you have to hedge your bets and pick a side. Personally, I'm on team lower prices!
https://fred.stlouisfed.org/series/CUSR0000SETA
https://fred.stlouisfed.org/series/DTCTLVEUANQ
https://fred.stlouisfed.org/series/PSAVERT
https://fred.stlouisfed.org/series/DTCTLVEUMNQ