Where is the used car price going?

[Buckeye]

I am so tired of this shortage sh

+1 So depressing.

 

[foxcreek9]

How many years to catch up?

 

[JoeWras]

Thanks for the graph. Depression intensifies.

---

We'd like to go on a cross country trip, but with such old cars, it is touchy. We did a 1600 miler last month with the 154k Subaru. Our cross country would be more like 7000 miles. Not sure I want to take the Subbie out for that.

We can live with three old cars for probably a few years. But it is likely one of them will drop an engine or tranny some day.

Question: is it possible to rent a car and put 7000 miles on it without a problem? I've never considered anything like that.

 

[folivier]

There are still new car bargains out there. You just need to find a dealer with a large number of cars in a competitive market area. When we bought our '23 Buick Enclave I looked at all of the dealers near us then out towards Salt Lake since we had a short trip planned there. None of these dealers had any stock or just a couple in stock. I found Alpine Buick South in Colorado Springs that had over 40 new Enclaves in stock. I worked out the deal with my '11 Tahoe trade-in by texts. Drove over and had the most uneventful purchasing experience ever.

 

[JoeWras]

There are still new car bargains out there. You just need to find a dealer with a large number of cars in a competitive market area. When we bought our '23 Buick Enclave I looked at all of the dealers near us then out towards Salt Lake since we had a short trip planned there. None of these dealers had any stock or just a couple in stock. I found Alpine Buick South in Colorado Springs that had over 40 new Enclaves in stock. I worked out the deal with my '11 Tahoe trade-in by texts. Drove over and had the most uneventful purchasing experience ever.

Yeah, the great thing was that Fords, Stelantises, and GMs started filling the pipelines. You just had to find the clusters. This helps break the shortage mentality.

Then... the strike.

 

[Car-Guy]

^^^^
Yep, my plans for a new TRX are not looking so good now.

 

[COcheesehead]

Thanks for the graph. Depression intensifies.

---

We'd like to go on a cross country trip, but with such old cars, it is touchy. We did a 1600 miler last month with the 154k Subaru. Our cross country would be more like 7000 miles. Not sure I want to take the Subbie out for that.

We can live with three old cars for probably a few years. But it is likely one of them will drop an engine or tranny some day.

Question: is it possible to rent a car and put 7000 miles on it without a problem? I've never considered anything like that.

Yep, we’ve rented cars for trips. I know Enterprise does it for sure.

 

[JoeWras]

Yep, we’ve rented cars for trips. I know Enterprise does it for sure.

7000 miles?

I have to admit that since I'm thinking about this, it explains some things. We once rented a car in February. The year of this car was that year, meaning the rental company could have only gotten it earliest July of the previous years, maybe 8 months max. I was surprised it had over 70k miles on it! Perhaps someone took it on a one lap of America.

 

[COcheesehead]

7000 miles?

I have to admit that since I'm thinking about this, it explains some things. We once rented a car in February. The year of this car was that year, meaning the rental company could have only gotten it earliest July of the previous years, maybe 8 months max. I was surprised it had over 70k miles on it! Perhaps someone took it on a one lap of America.

We have two SUVs so when we factored in gas economy, wear and tear, not worrying about the dog trashing the interior, etc, renting made sense. We’ve done it a few times for longer road trips.

Here is the verbiage directly from Enterprise’s web page.

Unlimited mileage is available for most car classes in the U.S. and Canada. Larger or Specialty vehicles (such as large passenger vans, large cargo vans, large SUVs or Exotic cars) come with limited mileage and an incremental cost of $0.10 - $0.25 for every additional mile/kilometer over the allowed limit.

 

[audreyh1]

Thanks for the graph. Depression intensifies.

---

We'd like to go on a cross country trip, but with such old cars, it is touchy. We did a 1600 miler last month with the 154k Subaru. Our cross country would be more like 7000 miles. Not sure I want to take the Subbie out for that.

We can live with three old cars for probably a few years. But it is likely one of them will drop an engine or tranny some day.

Question: is it possible to rent a car and put 7000 miles on it without a problem? I've never considered anything like that.

Yes absolutely! Generally unlimited mileage lower 48 no problem.

We have rented cars specifically for long haul drives - did this back when our Jeep was getting too old. 3000 miles or so*, but no problem. This was a good solution for us while waiting for a newer car.

I think that’s a very intelligent use of car rental.

* one of these was an Enterprise minivan. Rented because we needed to haul back some larger items. Another was an Enterprise minivan they gave us because the intermediate SUV we reserved was not available. Neither case did we run into mileage restrictions- I always check. And we did this several times during late 2020 through early 2022 dealing with an estate 1200 miles away from home. In spite of the general shortage of rental vehicles during that period we somehow managed to get what we needed when we needed it.

 

[JoeWras]

Man, this is what keeps me coming to this site. I know we wandered a little, but this discussion is really helpful.

It takes the pressure off worrying about buying a new car just for some theoretical planned trip. We can just do the Enterprise thing. We won't need a large SUV or van.

Thank you. We'll just continue to wait out the price madness and soldier on with our older cars, which have been very cost effective so far.

 

[Koolau]

Yeah, the great thing was that Fords, Stelantises, and GMs started filling the pipelines. You just had to find the clusters. This helps break the shortage mentality.

Then... the strike.

Not looking too good right now. Saw stuff on TV today.

 

[Koolau]

7000 miles?

I have to admit that since I'm thinking about this, it explains some things. We once rented a car in February. The year of this car was that year, meaning the rental company could have only gotten it earliest July of the previous years, maybe 8 months max. I was surprised it had over 70k miles on it! Perhaps someone took it on a one lap of America.

With that much mileage, the "lap" must have included Hawaii.

 

[folivier]

Here is the list of new cars at Alpine Buick Gmc South in Colorado Springs. Not trying to sell anyone on any of these just showing that there are new cars out there despite the UAW strike.
Acadia 61, Canyon 1, Enclave 54, Encore GX 35, Envision 50, Envista 9, Hummer EV 1, Sierra 1500 101, Sierra 2500 HD 18, Sierra 3500 HD 6, Terrain 69, Yukon 4, Yukon XL 9.

 

[REWahoo]

Here is the list of new cars at Alpine Buick Gmc South in Colorado Springs. Not trying to sell anyone on any of these just showing that there are new cars out there despite the UAW strike.
Acadia 61, Canyon 1, Enclave 54, Encore GX 35, Envision 50, Envista 9, Hummer EV 1, Sierra 1500 101, Sierra 2500 HD 18, Sierra 3500 HD 6, Terrain 69, Yukon 4, Yukon XL 9.

Are you certain all those vehicles are actually on the dealer's lot and available for purchase?

The reason I ask is a nearby Chevy dealer website shows they have 77 new SUV's for sale but when you dig down a bit you find 47 of those are actually "in transit", whatever than means, and only 30 are on the lot "available for immediate delivery".

Doesn't change the point that you are making that there are new vehicles out there sitting on dealer's lots, just offering a heads up that (surprise!) dealers may not be as truthful in advertising their available inventory as one would like.

 

[COcheesehead]

I was searching for a particular model and if the dealer ordered it, it shows as available, thought not really there.

 

[Car-Guy]

The reason I ask is a nearby Chevy dealer website shows they have 77 new SUV's for sale but when you dig down a bit you find 47 of those are actually "in transit", whatever than means, and only 30 are on the lot "available for immediate delivery".
.

That's often debated on some of the car forums I'm on. Most will say in transits means exactly what it sounds like. The vehicle has been built and is on the way to the dealer... Problem is they often never seem to arrive at the "intended" dealer! So what happened to them?

 

[JoeWras]

So what happened to them?

 

[Car-Guy]

I'm sure that accounts for a few...

 

[REWahoo]

I'm sure that accounts for a few...

Yep, lose a few here, lose a few there...

 

[JoeWras]

I jest with the car carrier fire pics, but you know car dealers; they'll use any excuse.

I have a theory about this which I'm not sure of. My theory is some dealership groups list these in transit cars on multiple local sites that they own. It gives more visibility. I suppose I could verify this, but I don't have the patience.

 

[jollystomper]

Ghaaaakkkk! I can't even imagine a car for $50K or $60K. I could afford one (heh, heh, still can't get that C-8 Corvette out of my head - and it'll be $100K easy with the stuff I'd want in it.)

BUT I just won't ever pull the trigger on such a big purchase. I make no judgement on anyone else who wants a new vehicle. They can be a very useful (and fun) BTD experience. Enjoy your purchases and be sure to let us know your experiences with them when you can finally find exactly what you want.

I kind of feel the same way. I am much more comfprtable spending $25K-$30K or so for a car. But at 65, I also figure this may be among the last times I will be buying a car, so why not BTD to get a new one that (hopefully) will last 10+ years, given the current small new/used spread.

But I am not rushing into the purchase, which I know meaning potentially paying more, but I will take that chance.

Part of me wonders, if we do slide into some level of recession, will that actually free up the supply of cars are more people will not be able to afford them. I am finding it interesting that, although Toyota says (though I have not check recently) 18-24 months wait for a Highlander Hybrid, about every month I am getting an email from the dealer saying "one is available, we will hold it for you to test if you can be here today or tomorrow." My guess is that these are orders that have arrive but people have been cancelling. This is happening without me "reserving" a spot on their waiting list.

 

[Koolau]

You can tell where my head is at. I thought this was removal of some of the burned out cars in Lahina, Maui. I need to get my head straight.

Just returned to the Islands and my perspective is switching to Island life from mainland life. There's a big difference. We are very much "Island-centric" and it shows in my thinking about burned out cars.

But, it's good to be home. It's almost October, and I'm typing this in my PJs (aka underwear - not a pretty site, but it's comfortable.) I know what you're wondering. "Boxers or briefs" all of FIREdom wants to know.

I must maintain some mystery (and SOME dignity) - so no answers and no pictures. YMMV

 

[Koolau]

I kind of feel the same way. I am much more comfprtable spending $25K-$30K or so for a car. But at 65, I also figure this may be among the last times I will be buying a car, so why not BTD to get a new one that (hopefully) will last 10+ years, given the current small new/used spread.

I just lost a friend (age 87) who I've known for over 50 years. When he was about 75, he bought a new truck - all the bells and whistles, etc. He said "This will be my last new truck, so I wanted it to be special."

Well, 3 years or so later. He traded it in. "This will be my last new truck..."

When he turned 82 I think it was, he traded THAT truck in for his "...last new truck..." He was "celebrating" because he had just gotten a new J*B and his cancer was in remission! Also his son-in-law had hired him to deliver auto parts for the store, so he was "flush."

Well that DID turn out to be his last new truck and he had to move into assisted living with his DW at age 86 - had to give up the "last new truck."

All in all, a life well lived and he had strategic BTDs along the way.

BY ALL MEANS - get your last new truck - er, car! Heh, heh, just don't plan on it being your forever "last." Things change and we all change. "Last trucks (or cars)" included.

ENJOY!

 

[audreyh1]

Man, this is what keeps me coming to this site. I know we wandered a little, but this discussion is really helpful.

It takes the pressure off worrying about buying a new car just for some theoretical planned trip. We can just do the Enterprise thing. We won't need a large SUV or van.

Thank you. We'll just continue to wait out the price madness and soldier on with our older cars, which have been very cost effective so far.

Good!

Car rental these days has gotten back to pre-Covid situation in terms of availability, and my last rental was quite a bit less expensive than the past three years.

So IMO car rental continues to be a good option. We did finally get our new car June of last year. But we fly more now and rent upon arrival so glad to see car rental return to normalcy.