Love it. The more stupid people bankrupt, the better.
Current New Vehicle Market
- Thread starter 13COBRA
- Start date
Wow, no words for this.
Wow looks like it says $1997.53 / month for 83 months.
Yup. Only around 50k in interest too over the loan lol
I don't think Carvana will be around much longer! LOL
I like the RDX. It is roomy (I'm 6' and 170 lbs and it has plenty of leg room for me). The interior is nice and the V6 has some pep. I recently drove it from Vegas to LA and got around 28 mpg, so it isn't bad at all (that includes city driving once I got to LA). The one thing I will say is that the buttons on the console (they kinda look like a mouse pad and keyboard) to navigate through the radio, navi, Apple Carplay, etc. takes some getting used to, but so far I like it. I have two teenagers who aren't big people, and along with the wife, the 4 of us easily fit.
Nick, do you have an opinion on the Mavrick? Was not on my radar but a farmer friend picked up the hybrid model and surprisingly loves it. Everything he owns is 3/4 or 1 ton. I've got 2 kids home for the summer from college and it seems like an XLT isn't that much worse than a lot of the used stuff out there.
My friend said he paid sticker from the local dealer for a bronco and this one, which will be his second. Already has one at his place out west. Kind of surprising considering the dealer and my experiences with them. Wonder if they have had a mgmt shakeup. I guess it cant hurt to go look.
Thanks
Thanks
Covid going to be with us for a very long time in the new and used car values.
“As a result, new-vehicle inventories plummeted from 3.8 million in the spring of 2020 to a mere 820,000 by the fall of 2021,” Finkelmeyer explains. “This dramatic loss of production led to the industry selling 8.1 million fewer vehicles from 2020 [through] 2022 compared [with] the 2017-2019 timeframe.”
That’s 8.1 million cars not reaching the used car market today.
Cox Automotive reports that used-vehicle inventories are near the lowest levels in over a decade.
.......
“Over the past three years, we’ve seen a significant increase in the number of off-lease cars purchased by lessees, with return rates plummeting from 62% to 11%,” Finkelmeyer says.
Rental-car companies, too, found themselves holding onto cars longer. That restricted another supply of used cars.
Used-car buyers paying much more for less
“Before the pandemic, the average price of a used car was $19,827, but it’s now $26,686,” Finkelmeyer notes, observing that this is a 35% rise. “The prepandemic average used vehicle had 65,000 miles on it, but now the average mileage [has] 71,000 miles,” up 9%. That leaves today’s used-car buyers “paying 35% more for a vehicle with 9% more wear and tear.”
“As a result, new-vehicle inventories plummeted from 3.8 million in the spring of 2020 to a mere 820,000 by the fall of 2021,” Finkelmeyer explains. “This dramatic loss of production led to the industry selling 8.1 million fewer vehicles from 2020 [through] 2022 compared [with] the 2017-2019 timeframe.”
That’s 8.1 million cars not reaching the used car market today.
Cox Automotive reports that used-vehicle inventories are near the lowest levels in over a decade.
.......
“Over the past three years, we’ve seen a significant increase in the number of off-lease cars purchased by lessees, with return rates plummeting from 62% to 11%,” Finkelmeyer says.
Rental-car companies, too, found themselves holding onto cars longer. That restricted another supply of used cars.
Used-car buyers paying much more for less
“Before the pandemic, the average price of a used car was $19,827, but it’s now $26,686,” Finkelmeyer notes, observing that this is a 35% rise. “The prepandemic average used vehicle had 65,000 miles on it, but now the average mileage [has] 71,000 miles,” up 9%. That leaves today’s used-car buyers “paying 35% more for a vehicle with 9% more wear and tear.”
Dealers near me have 10-13k markups on them. They even show the MSRP being thousands more than the window sticker shows.
Anyone that ordered a c8 corvette and waited for it paid msrp.... it IS a long wait though. They even have a hybrid corvette ERAY that is just as quick as a z06. There are even more corvette models coming. If i wanted one of these cars i would get on a wait list at a huge dealer and wait. Just confirm that eventually an allocation will come up. The z06 is limited production, but nobosy seems to know exactly how many will be made. The Eray isnt limited production. You WILL get a car if ure willing to wait.
What else was on that truck?
Our ‘15 SC XLT had the 6,5’ bed, 36G tank, v8, back up camera, tow package, and came in around 48k.
Has a similarly optioned truck gone up $10,000?
A XLT Super Crew with no options at all selected starts at $49,990. That's with a 3.3L and 2wd. It's ridiculous.
Everything but the sliding rear window.
My 15 xlt screw, 302A, 5.0 was 38k out the door lol.
Sticket on that 23 xlt screw black was 64k
Not including interest rates. Just saw the avg interest rate for a used car is in the 10% area. A good interest rate for a new car for 72 months is approx 6%, 5%~ for 60 months.
Not sure why anyone would choose a used car at those high avg rates over a new car at this point, considering there are some new cars selling at MSRP or slight below nowadays.
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