Trade in value drop

[GLF5]

How did this thread turn into Terminator

HAHAHA. It's not the direction I was expecting it to go.

 

[MDJAK]

12 months ago my 2019 802A Performance Blue truck was worth 64K on trade. 2 months ago it was down to 57K and as of today 52K. Sad because the truck I ordered 14 months ago is expected to be delivered in 3 days leaving me with a tough decision. I just posted the truck on Autotrader but not sure I will be able to move fast enough now.

Any suggestions on where to advertise besides auto trader?

Thanks

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

I see nothing in the OP about the market. He plainly stated value 12 months ago, 2 months ago, and now.

Market notwithstanding, car is a year older with more miles. That equals less value no matter the market. We all know the market is dropping and the reasons therefor. OP could’ve traded early or realize values drop no matter what.

 

[Badgertits]

so what happens next? What happens next is no more price hike on new ones from the factory, then no more dealers doing ADM, then more of em start to sit on lots longer chewing up high interest credit lines month after month, then fewer & fewer buyers coming in, then the discounts start, then the interest rates start to ease again, & then someone like me walks in w/ a big chunk of cash down payment & walks out w/ an R @ $30k UNDER sticker

People forget….the above scenario has also been more the norm than the exception for periods of time

 

[melvimbe]

I see nothing in the OP about the market. He plainly stated value 12 months ago, 2 months ago, and now.

Market notwithstanding, car is a year older with more miles. That equals less value no matter the market. We all know the market is dropping and the reasons therefor. OP could’ve traded early or realize values drop no matter what.

Use your brain. A 2019 Raptor (already 3-4 years old) starts at $64k, drops $7k in 10 months, followed by a drop in $5k in 2 months. Your argument that this is just normal depreciation, due to miles and age, and not due to market conditions? Does depreciation normally accelerate as the vehicle get's older? Do you normally have to think about selling your 5 year old Raptor, a vehicle known for holding value, as quick as possible so that you don't lose $5k+?

 

[melvimbe]

so what happens next? What happens next is no more price hike on new ones from the factory, then no more dealers doing ADM, then more of em start to sit on lots longer chewing up high interest credit lines month after month, then fewer & fewer buyers coming in, then the discounts start, then the interest rates start to ease again, & then someone like me walks in w/ a big chunk of cash down payment & walks out w/ an R @ $30k UNDER sticker

People forget….the above scenario has also been more the norm than the exception for periods of time

Agreed that's the cycle, and I do think that will happen again, but the market has been so abnormal I don't think that's quite guarantee. I would guess new car prices are gonna come down, but slower than they normally do.

 

[GordoJay]

Market notwithstanding, car is a year older with more miles. That equals less value no matter the market. We all know the market is dropping and the reasons therefor. OP could’ve traded early or realize values drop no matter what.

Good point. Price and value are different things. Usually they track and we tend to conflate them. But occasionally they get out of whack. The value of a vehicle drops steadily from the day you drive it off the lot. Price can bounce around.

 

[Badgertits]

Agreed that's the cycle, and I do think that will happen again, but the market has been so abnormal I don't think that's quite guarantee. I would guess new car prices are gonna come down, but slower than they normally do.

A long time ago, way way way way back in the olden times of 2018, when I was shopping trucks after my 2015 GMC got wrecked by a deer, I cross shopped everything, I have a quote/offer from a GMC dealer for 2019 Denali ultimate loaded to the gills & $17.5k off sticker…..except that wasn’t decades ago that was only 5 years ago, when gas was like $2 & the GMC financing was 1%!!!

$4 gas, & 5-7% rates & inflation up the a$$ = the scenario I described above is 1000% plausible in the extremely near future, except that maybe the Raptor R & TRX will be more like $40k off sticker

Also- was offer $12k off sticker for a 2018 C7 Z06 vette M7 the exact same time I was shopping for a truck….

 

[TXAG]

I agree the market will normalize. But I'm not sure R's will be 30k off. Raptors in general have never had to be marked down much from MSRP. The ADM crap will stop, and is already slowing. Hope you are right though, I would love to buy an R for 80k!!!

 

[shigman]

I wish MSRP was the price period. If the vehicle is overvalued and tends to go under MSRP, then the manufacturer needs to reduce the price. There shouldn't' be any negotiation process when buying a new car. It makes car shopping harder comparing brands when some brands cost 70K on the website but really 60K OTD, while other brands are 70K on the web and 70K OTD. Saturn back in the day had the right idea, pay the price, don't like it go haggle with Chevy for 6 hours for a cavalier. Sales guys there also didn't work on commission.

 

[GTTXRAP]

I would love to buy an R for 80k!!!

And so would everyone else which is why you'll never see this.

People buying $111K vehicles don't care about interest rates (certainly not going to be a go/no go decision criteria--if so they probably couldn't afford it to begin with).

They won't ever pump them out like Fiat did with Rebel...ur um TRX.

I'll bet $1 that you won't even see MSRP in 24...or ever. Save this post.