Trade in value drop

[GordoJay]

12 months pass, miles build, model year older, and surprise, surprise, trade value drops?

Not just that. Prices for all used cars are dropping rapidly. The days of getting more used than you paid new are probably over.

 

[GTTXRAP]

The days of getting more used than you paid new are probably over.

Corrected

 

[melvimbe]

12 months pass, miles build, model year older, and surprise, surprise, trade value drops?

Conversation was clearly about market conditions that affected used vehicle values, not the condition of the vehicles themselves.

 

[melvimbe]

Corrected

Nah. There will always be the case where someone is able to purchase a vehicle below market value for whatever reason, and can turn it around for a profit. The only time that won't happen is when the profit margin is so low that 'below market value' doesn't exist.

 

[Schumacher]

For years we were spoiled with low interest rates and then supply chain issues. Now we have high rates and a major recession looming. Times change and I would move it as fast as possible or even smarter would be to flip the new one.

 

[melvimbe]

For years we were spoiled with low interest rates and then supply chain issues. Now we have high rates and a major recession looming. Times change and I would move it as fast as possible or even smarter would be to flip the new one.

Spoiled by supply chain issues?

 

[Schumacher]

Spoiled by supply chain issues?

Yes, limited new vechiles made used ones values skyrocket.

 

[melvimbe]

Yes, limited new vechiles made used ones values skyrocket.

Yes, but it had similar impact on new car prices. Maybe it was just mean, but I couldn't get too excited about the value of my Gen 2 when the typical price of Gen 3 went up by the same amount.

 

[ChrisMcP05]

New here, but back in November I paid $59k from a dealer for a '19 802A with 42k miles. It was a trade in so I can only imagine what they gave for it. I see a lot of squabbling over a few $k's but hardly any concern for that 12% interest I know some of you are paying lol.

What’s sad is in 2020 I paid $66k for a brand new 2020 fully loaded Gen 2, $8k off of MSRP. Beginning of Covid really helped the prices.

 

[GCATX]

What’s sad is in 2020 I paid $66k for a brand new 2020 fully loaded Gen 2, $8k off of MSRP. Beginning of Covid really helped the prices.

Ahh, how I long for the good old days. Raptors were cheap and the salesmen didn't want you giving them the China virus. They would park the truck out by the road and put the key on a 10 foot stick and pass it through the fence. lol.