Automotive

Used car prices about to rise?

  • Last Updated:
  • May 26th, 2021 12:24 pm
[OP]
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Jul 7, 2017
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SW corner of the cou…

Used car prices about to rise?

Carrentalcos are buying up used cars to replensh ther fleets as they can't get their hands on new cars. I guess it may be fortunate that it's more difficult, impossible or just potentially costlier to buy and send the cars south.

https://www.bloomberg.com/news/articles ... gets-worse
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Kiraly wrote: I had to read that three times. At first I thought it was some Mexican food delivery service.
Sounds delicious. I was getting Italian first, but also see your Mexican in it. - took me a couple reads too.
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I suddenly have a hankering for tacos.
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I thought it was a Mexican gang buying up used cars.
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DaveTheDude wrote: I thought it was a Mexican gang buying up used cars.
Don't the gangs just "steal" the USE of them from the factory, then load em up spiced with meth and send them north? LOL
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Jul 29, 2019
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I would think so. Given auto manufacturers are facing shortages for many items, primarily the chips from the semiconductor space and the economy and demand are coming back up for rental car companies, we may see more rental car companies buying used cars to fulfill customer demand. Those in the technology space will already know that we are unlikely to see the semiconductor situation improve by the end of the year.
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As far as I know everything has been going up in price, maybe it is just general inflation due to the mass printing of money by every single government? Yes, I'm aware supply chain disruption is also contributing to the shortages of goods and price hikes.
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Been going up in price since Covid started.
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mxthor3 wrote: Been going up in price since Covid started.
Hm.... If I recall correctly, there's a bunch of folks that said fire sales and those that said otherwise were carsales folk.

lmao
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koffey wrote: Hm.... If I recall correctly, there's a bunch of folks that said fire sales and those that said otherwise were carsales folk.

lmao
I keep an eye on the used car market generally, and there was a big swing upwards for smaller, fuel efficient vehicles when covid began. My econobox jumped over $1500 in value (if I were to sell it or buy the same one). It was crazy. I'm seeing prices start to go back down, but they're still pretty high compared to 2019.
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Feb 8, 2010
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LeisureSuitL wrote: I keep an eye on the used car market generally, and there was a big swing upwards for smaller, fuel efficient vehicles when covid began. My econobox jumped over $1500 in value (if I were to sell it or buy the same one). It was crazy. I'm seeing prices start to go back down, but they're still pretty high compared to 2019.
Now it is the higher-end cars in demand, and price hike across the board.
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https://driving.ca/toyota/auto-news/new ... ovid-cases

On top of parts storage, COVID is wrecking supply lines for Cambridge.
koffey wrote: Hm.... If I recall correctly, there's a bunch of folks that said fire sales and those that said otherwise were carsales folk.

lmao
Well truth be told, I kinda knew demand will be up and price will inflate due to QE. But never thought chip shortage and COVID labor disruption will add fuel to that fire.

https://www.cnn.com/2021/04/21/business ... index.html
[OP]
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I guess those who have leases expiring sometime this year (early better than later) may be in the money if they buy out,
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Xtrema wrote: https://driving.ca/toyota/auto-news/new ... ovid-cases

On top of parts storage, COVID is wrecking supply lines for Cambridge.



Well truth be told, I kinda knew demand will be up and price will inflate due to QE. But never thought chip shortage and COVID labor disruption will add fuel to that fire.

https://www.cnn.com/2021/04/21/business ... index.html
Used minivan prices are up due to demand for online shopping delivery.

Local car supermarket is asking $29 - $30k for 2019 Grand Caravans with 25k to 50k km.
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thriftshopper wrote: I guess those who have leases expiring sometime this year (early better than later) may be in the money if they buy out,
Or anyone got a new car in 2020/21. The resale would be higher then normal due to low sales and higher MSRP on newer cars.
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mxthor3 wrote: Been going up in price since Covid started.
+1
my car i bought last May i can sell for about the same today
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What are you using to gauge market price? Autotrader?
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I am shocked right now because I would have never believed this to happen, even to 'high' end cars. I was looking at Autotrader just now at various flagship German sedans and the depreciation didn't blow my socks off as it usually does.

This is *insane*.
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koffey wrote: Hm.... If I recall correctly, there's a bunch of folks that said fire sales and those that said otherwise were carsales folk.

lmao
I remember those posts, lol

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