Used vehicle prices rising at an unseasonably strong rate

[bluemingidiot]

Cox Automotive on Tuesday reported wholesale used vehicle prices increased 4.3% in February from January — marking the largest increase between the two months since 2009.

[Maura]

Remember that with the Covid lockdown fewer cars were made. Two years later, people are turning their leases, but there aren't as many of them. People who would normally buy a two year old car have fewer to choose from, so they are buying cars a little older. . Supply/demand.

[mogal]

And don't forget Obama's big save the world exercise of buying old vehicles. This was the type of vehicle teen boys and some grown men liked to rebuild. A lot of local farmers will use that type where the bodies don't look that great but the motor, drive train, etc., are still good to use on their properties. Most will also own a heavier duty truck, maybe a "dually" to pull stock trailers, flatbeds hauling heavy equipment and such that are "prettier" with all the electronic bells and whistles. DH drives a fancier 2015 Silverado but I'm still chugging along in a '98 F150. It's the same principle--while we don't own heavy trailers we do occasionally haul goats, dogs, and cats to the vets. Goats are under the topper, cats in carriers but the dogs ride in the cab with me. For the last 35 years, all of our dogs have been GSDs and Pyrs with one overweight pit bull mix thrown in for good measure.

[Woodpecker]

I’ve given up looking for a reasonable priced used car. They are so very expensive and most have a lot of miles on them. So I’ll keep my 2004 Jeep Liberty until it doesn’t pass inspection 😋 inspection is due in May. I keep thinking about what the mechanic said last year. “ Hey it passed inspection, so keep driving it until you find something you can afford.” He’s right.

My sister sold her Jeep a few years ago after she had a stroke and since she isn’t driving anymore and her husbands lease was up, so they leased a new Jeep. They couldn’t find anything they could afford. My sister is is mad at herself for selling her Jeep. She’s always purchased her cars and usually traded them in when paid off for a good price at the dealership. She’s not happy with the leased Jeep, it just goes against her principals.

[bluemingidiot]

"31% of new cars sold for above sticker price last month."

[Mr DAVID In Wisconsin]

It would boggle my mind to walk into a dealership and pay sticker price plus $5000, $10,000 or more on top of that. Good thing I don’t need a new vehicle.