Where is the used car price going?

[MC Rider]

I have been looking at minivans like Sienna or Sedona for the extra cargo and passenger space compared to my Kia Soul. But even older ones are expensive! and new ones are in WTF!? territory imho. May go with plan B and install a trailer hitch on the Soul. There is no comparison on price.

 

[Car-Guy]

But for ~100K, you do get a lot of truck for ~100K. That SRT engine is nice. Who doesn't need a truck that does 0-60mph in 4.5 seconds?

It's the one vehicle in the last decade that I really regret selling. And it looks like 2024 will likely be the last year for them to be made, so I better get another one soon. Hopefully the current auto strike doesn't mess with their decision to make them for another year.

It's a fun truck but not perfect. But, I've never found the "perfect" vehicle.

 

[CaptTom]

I think their complaint is safety standards.

I still find the whole thing odd too.

I'm with you there. I'd be looking for new friends.

Safety standards? Isn't that mostly driver-assist stuff? Seems like a bit of an insult to tell someone they need that kind of assistance to drive safely.

 

[JoeWras]

I'm with you there. I'd be looking for new friends.

Safety standards? Isn't that mostly driver-assist stuff? Seems like a bit of an insult to tell someone they need that kind of assistance to drive safely.

So this is just between ya'll and me, OK? DW doesn't read here.

This comes down to the subject of LBYM. These two ladies are our age, early 60s, and still working. There's materialism involved. They have to work to afford the car and second house.

In some way, I think there is jealousy that DW is free of work, they are not, and they are taking it out on her with the car thing.

Does that make sense*? We've talked on this board before about the "What do you say to your friends when you ER?" DW said nothing, but I think she is getting "feedback" from the friends.

* - By making sense, it can explain things, but I don't agree with it. DW still loves them and lets them drive and talk about all their fancy crap they have at the second house. I can't tell her to get new friends.

 

[Trailwalker]

I bought a new used truck today. I wasn't desperate, but my Nissan Frontier did strand me for eight days waiting for a part to come in while camping in southern Illinois. I honestly believe there was a good chance that it would have lasted beyond its 140k to 200k miles, but I was ready for something a little nicer and more capable. I ended up with a 2020 Big Horn Ram with 39k miles, one owner, no accidents. It was 35k, less 7k for the Frontier--so 28k. I almost forgot what it was like to drive a really nice vehicle without shakes and rattles. A little blow that dough. A little peace of mind.

 

[Car-Guy]

I bought a new used truck today. I wasn't desperate, but my Nissan Frontier did strand me for eight days waiting for a part to come in while camping in southern Illinois. I honestly believe there was a good chance that it would have lasted beyond its 140k to 200k miles, but I was ready for something a little nicer and more capable. I ended up with a 2020 Big Horn Ram with 39k miles, one owner, no accidents. It was 35k, less 7k for the Frontier--so 28k. I almost forgot what it was like to drive a really nice vehicle without shakes and rattles. A little blow that dough. A little peace of mind.

That's a really good truck. Trust me!

 

[Trailwalker]

That's a really good truck. Trust me!

I really like it so far. It's the biggest truck that I've owned. When I got home, I realized that while the garage has enough length, it's pretty tight side-to-side. The button that power folds the mirrors took care of that.

The 2020 sticker was $47k. This one started on the lot at $40k and sold for $35k.

I looked at a lot of trucks on-line and also a lot of trucks on the lots. There were only a half dozen or so that I could find in the sweet spot of $35-40k with less than 60k miles and newer than 2019. None were perfect, but this one ticked the most boxes with the V8 Hemi and a bed that wasn't too short.

 

[jollystomper]

I do have an indelicate question to ask. For those buying a "new" used car (or, even a new car) are you desperate to buy because you need the transportation? I ask because if pure transportation is not at issue, would it not make sense to wait until car prices shake out a bit?

Good question. We are not desperate to buy, We have 2 cars. But one of my "luxury/BTD" earmarks is having 3 cars: one for DW (who finds it hard to adjust to driving different cars), a sedan, and a SUV/minivan for my home project runs, long trips, etc. Ever since DW totaled her Corolla in late 2021 I have been looking for a 3rd card, but not rushing into it. She is now comfortable driving our SUV, but I am looking at a 2nd one to avoid conflicts over when I need to use it.

It is certainly not a "need". Periodically renting SUVs or minivans has worked out well (and is cheaper), especially since Megacorp retirees receive a good discount on rental cars and I have Hertz Gold Plus status. It is a desire, but one I do not feel to rush into at the moment.

I have been checking Carmax, in my area their prices for SUVs have come down from a year ago and their is more inventory. I am still leaning towards new and yesterday the Toyota dealer notified me of a 2nd Highlander hybrid that has become available. With this local trend I might do something before the end of the year. But I am not in a rush .

 

[frank]

I currently purchased a 2023 rav4 hybrid. I was not desparate for a different car, but my newest other car was a 2012, and a pickup that is 2006. I was looking for something a couple years old with under 40k miles and dependable not really loaded, but looking at what was out there it was only 2k more to buy the new suv than a used one.

 

[ERD50]

I'm with you there. I'd be looking for new friends.

Safety standards? Isn't that mostly driver-assist stuff? Seems like a bit of an insult to tell someone they need that kind of assistance to drive safely.

But I'd guess the cracked windshield is pushing the other stuff (too old, safety, etc) over the edge.

JoeWras admitted what he thought of people with cracked windshields, and now he is one.

The other factors may be in play, but that crack might be the straw that broke (cracked?) the camel's back?

-ERD50

 

[Car-Guy]

I really like it so far. It's the biggest truck that I've owned. When I got home, I realized that while the garage has enough length, it's pretty tight side-to-side. The button that power folds the mirrors took care of that.

The 2020 sticker was $47k. This one started on the lot at $40k and sold for $35k.

I looked at a lot of trucks on-line and also a lot of trucks on the lots. There were only a half dozen or so that I could find in the sweet spot of $35-40k with less than 60k miles and newer than 2019. None were perfect, but this one ticked the most boxes with the V8 Hemi and a bed that wasn't too short.

IIRC, mine was about the same price for the same year and model. Never had a single problem in the 45k miles I've had it. I like it so much I bought another RAM in 2023. So I have two now. Congratulations and enjoy.

 

[CaptTom]

Most states in the Northeast have free windshield replacement requirements for auto insurance, so to me that's more of an inconvenience than a safety issue. Not really even that, since the windshield replacement people will come to you now.

I can see the friends' jealousy at having someone in their circle retire early. A LBYM approach is how I pulled off RE, too. Most of our BTD friends are OK with that. I guess I'm lucky there.

 

[JoeWras]

But I'd guess the cracked windshield is pushing the other stuff (too old, safety, etc) over the edge.

JoeWras admitted what he thought of people with cracked windshields, and now he is one.

The other factors may be in play, but that crack might be the straw that broke (cracked?) the camel's back?

-ERD50

I know, I *was* one. Got them fixed now. It was so weird how fast we got used to it. It is kind of like people you know who criticize others for bad habits, maybe drinking too much or gaining too much weight. Then they are the big drunk one day! I became the "obnoxiously cracked windshield guy" and DW followed along. It was a coincidence they broke within a month of each other. Also perhaps why I threw up my hands and didn't get them fixed right away.

Most states in the Northeast have free windshield replacement requirements for auto insurance, so to me that's more of an inconvenience than a safety issue. Not really even that, since the windshield replacement people will come to you now.

I can see the friends' jealousy at having someone in their circle retire early. A LBYM approach is how I pulled off RE, too. Most of our BTD friends are OK with that. I guess I'm lucky there.

We don't have automatic coverage in my state. It either comes under comprehensive or a rider. Since I have either a $500 or $1000 deductible, it wouldn't be covered. Each was fixed for somewhere in the range of $250 to $300. I think it was about $280 or $260. Can't remember exactly.

 

[Mark2024]

We went visit a car dealership the other day. very few customers. And the cars on the lot were all pretty dirty - looks like no washed for weeks. May be people are not buying cars.

 

[folivier]

I think some dealerships are just surviving on a few sales here and there and mostly on service. After buying our Buick I decided to get some all weather floor mats for the snow. I ordered them from my local Buick dealer to get established as a customer. When they came in I said I'd be by on Saturday. Nope, we're closed. Ok can you leave them with the sales guy and I'll get them from them? Nope, we're closed no one will be here.
How can a car dealership sell cars when they're closed on a weekend?

 

[wmc1000]

I do have an indelicate question to ask. For those buying a "new" used car (or, even a new car) are you desperate to buy because you need the transportation? I ask because if pure transportation is not at issue, would it not make sense to wait until car prices shake out a bit?

I believe that chip issues are still affecting new car availability which then puts pressure on (especially) newer used cars. Unless it's critical to buy "another" car, I'd consider giving it 6 months or maybe even a year to watch prices (and maybe even interest rates) to readjust.

If you're actually "short" a car, that's a different story, I guess.

Last "new" used car I bought, my "back-up" (aka MY car) had died (transmission shot.) I waited several months and shopped until I found a really good deal. Now, heh, heh, I don't think there are many good deals. I understand there is no guarantee this will all shake out in 6 to 12 months, but it seems more likely than not.

I suppose, it's my reluctance to "buy into" a seller's market. I just pretty much refuse to do that if there is an option. I'm kinda stuck right now - we now only have one car - and I would have to buy pretty quickly IF my current car died. But otherwise, I can live with my "old" car a while longer.

Just the musings of one who hates buying in a seller's market so YMMV.

Even though we are not in need of a car, I am always checking online what is up for sale. Our 2011 Honda CR-V we bought used in 2014 with 40k miles never had an issue other than routine maintenance and was still just under 100k miles earlier this year.

In March, however, I "found" a 2018 Lincoln MKX listing with less than 35k miles on it that was fully optioned and had a clean Carfax. Original MSRP was over $60K and it was at a non-Lincoln dealer a couple hundred miles away for just over $30K. Originally a Lincoln exec vehicle and then sold as a CPO vehicle to a second owner. It is still under CPO warranty until December 2023.

Called the dealership which is in other state, and they verbally gave me a higher trade offer for our Honda than what we thought it would be, as we paid $17K in 2014 and they gave us $10K this year. Drove the 3 hours to see Lincoln which the salesman said was in pristine condition. Test drove the car, looked it over and could find no defects other than a small paint chip on the front of the hood which had been touched up, so we made the deal.

The salesman didn't even have anyone look at the Honda, so I guess $10K was a really good price for them. Didn't succumb to the dealerships extended warranty pitch as they didn't know it was still under the CPO warranty period or, at least, ignored that fact, but I had contacted Lincoln in advance to check on it.

Did we have to do it. No, but we had the money, no financing, and the improved ride, features and comfort were nice. DW likes the massaging seats and I like having the extra power as it has the optional twin-turbo 335HP engine!

We can easily afford it without touching retirement funds, so that is all that matters in our specific case.

BTW, the dealership then put our Honda online at $15K, don't know what they ended selling it for but we didn't have to hassle trying to sell it.

 

[Koolau]

We have state inspections. Even if the crack extends end to end like ours did, but does not impact your line of site, you get a pass.

Our state inspection condemned one of our cars - not because of a windshield crack but because the tinting was peeling on the side windows! Picky, picky, picky in the words of the late Pat Paulson.

 

[Koolau]

The fly in the ointment on that idea is that DW's friends don't like or won't drive with her anymore. They say the car is too old (2009). One of those friends is very materialistic. I think the others just don't like the feel of the seats. I know I hate them.

New friends may be cheaper than a new car.

 

[Harris4crna]

Just bought a 2022 Toyota 4Runner. Not much off from MSRP of the 2023. I am contemplating selling my 2018 Audi TTRS with 50k miles. I see much talk about the price of used cars, but are people still buying?

 

[Koolau]

Just bought a 2022 Toyota 4Runner. Not much off from MSRP of the 2023. I am contemplating selling my 2018 Audi TTRS with 50k miles. I see much talk about the price of used cars, but are people still buying?

Hmmmm. Selling the German car before it needs expensive repairs seems like a great idea, but YMMV.

 

[Harris4crna]

Hmmmm. Selling the German car before it needs expensive repairs seems like a great idea, but YMMV.

Exactly, this is what I have been thinking. Than I spent the day driving it....Wow, I love that car. I will put it up for sale in the spring, sigh.....haha.

 

[jazz4cash]

But I'd guess the cracked windshield is pushing the other stuff (too old, safety, etc) over the edge.



JoeWras admitted what he thought of people with cracked windshields, and now he is one.



The other factors may be in play, but that crack might be the straw that broke (cracked?) the camel's back?



-ERD50

I would be reluctant to ride regularly in a car with a windshield cracked edge to edge. I am surprised that anyone would think that a crack in a structural component is no big deal. It may be fine just driving around but it is not going to offer the same level of occupant protection in case of impact. It may significantly change how energy is disbursed throughout the body.

 

[JoeWras]

Anyone is me. Surprise!

 

[jollystomper]

Carmax, and a couple of other local outfits in our area that have a similar pricing strategy, seem to have higher inventory and lower prices that at the beginning of the year. For example one outfit with a good reputation, used to have 5-6 SUVs with <40K miles selling for under $30K on the lot, and none under $20K. Now they have 20+ cars fitting that criteria, and close to half of those under $20K. Most of them under $20K are model years 2019 and newer.

 

[freedomatlast]

I am surprised that anyone would think that a crack in a structural component is no big deal. It may be fine just driving around but it is not going to offer the same level of occupant protection in case of impact. It may significantly change how energy is disbursed throughout the body.

Modern windshields are made from two pieces of tempered glass that are laminated on each side of a thin sheet of poly-vinyl butyral or PVB. When an object hits the windshield from the outside hard enough to crack it, almost always it's only the outer layer of tempered glass that's cracked. If you run your fingernail over the crack from the outside you can usually feel the crack line. If you do the same from the inside you can't feel the crack line because there is no crack on the inside layer of tempered glass. Structural integrity is not an issue. No need to be fearful of a crack in the windshield unless it obstructs the driver's vision.