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Originally Posted by Mike818
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The market is definitely not as hot as 2021. That being said prices are still a bit inflated compared to pre-pandemic levels but this could be due to inflation.
Used car prices are cyclical. ALL cars (not just sports cars) have poor trade in value right now and will continue to drop until about February next year. I watched the market last year and last fall used car prices finally started dropping for the first time since the pandemic rise. Personally I thought this was the correction that everyone said would eventually happen HOWEVER the prices shot up again with a vengeance early 2023.
So while prices are dropping I’m going to be watching until spring next year to see if they shoot up again as high as they did this year. I’m expecting a small rise, which is normal but if they shoot up a lot again then that means imo that these are just the prices going forward. As a reminder prepandemic you could get used zl1’ that were 2-3 years old in the mid to high 40’s with not much miles on them. Now that same zl1 that is 5-6 years old now is mid 50’s.