Used car prices WAY up - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

silversleeper · 05-26-2021, 09:12 PM

Like I thought, prices have gone through the roof on used cars (and lumber and houses). I regret giving a family member my Silverado thinking I could find a newer replacement easily, note how they've gone up 41% !

G8One2 · 05-27-2021, 04:13 PM

Inflation, big brother integration into new vehicles and the push for electric cars nobody wants, and the sticker price of these new vehicles people are keeping their ICE cars, driving up the cost of used. Not to mention, purchasing power and cashflow goes down considerably when inflation increases. More people are buying used, over new for various reason. That's just my worthless opinion.

silversleeper · 05-28-2021, 12:14 AM

Quote:

Originally Posted by G8One2

Inflation, big brother integration into new vehicles and the push for electric cars nobody wants, and the sticker price of these new vehicles people are keeping their ICE cars, driving up the cost of used. Not to mention, purchasing power and cashflow goes down considerably when inflation increases. More people are buying used, over new for various reason. That's just my worthless opinion.

You must be married, that's about the only time I can think where one's opinion is not valued

jimmyp · 05-29-2021, 07:54 AM

This will all calm down in 6 months when everything gets back up to speed. Some of the used car prices I've seen are just ridiculous. I was looking to pick something up, but I think im going to have to wait a while, or just buy new.

G8One2 · 05-29-2021, 11:15 AM

Chip shortages aren't helping new car sales either.

morepowerjoe · 05-30-2021, 05:30 PM

Yeah my blue book value went up on my car $4000 in the last month.

silversleeper · 10-08-2021, 12:38 PM

I was looking to buy a good used muscle car for the family this weekend. Their preferred was a Challenger. V8s way expensive and even v6's wanting the same price as a new car if it is 1 or 2 years old. 30k+ on a used v6.
Just updating that the market is still crazy on used cars 10years old or less.

https://wolfstreet.com/2021/10/07/us...ket-gone-nuts/
Over the first nine months of the year, the average resale value of a one-year old vehicle jumped by 25%, or by $7,759
Used vehicle wholesale prices spiked 5.3% in September from August, to a new record, according to Manheim this morning, the largest auto auction operator in the US and a unit of Cox Automotive. This spike in the Used Vehicle Value Index more than wiped out three months in a row of declines that had spread false hopes that the used vehicle craziness would finally abate.
The index is now up 27% from September last year when this craziness was already well underway. And it formed a record two-year spike of 46.4% from September 2019.
The sales conversion rate at the auctions rose throughout September and in the last week of September surpassed 66% compared to 52% in September 2019 as dealers were more aggressive at buying vehicles. This, according to Manheim, indicates that wholesale demand will likely remain strong through October:...

NickSaggy · 01-28-2022, 06:27 AM

The government has been strictly on this one

05-26-2021, 09:12 PM	#1
silversleeper Big Crow Drives: '13 ZL1 Join Date: Mar 2017 Location: California Posts: 1,545	Used car prices WAY up Like I thought, prices have gone through the roof on used cars (and lumber and houses). I regret giving a family member my Silverado thinking I could find a newer replacement easily, note how they've gone up 41% ! Attached Images

05-30-2021, 05:30 PM	#6
morepowerjoe Drives: 2012 Chevrolet Camaro l99 Join Date: Aug 2020 Location: Austin, TX Posts: 2,193	Yeah my blue book value went up on my car $4000 in the last month. __________________ DSS FX Forged Pistons, Eagle ESP L19 Forged Rods, ARP Head and Main Studs, TSP PRC 260 CNC Ported Heads milled .030, Cometic .040 Head Gaskets, GPI SS3 VVT Camshaft, GM Performance Racing Lifters, CHE Trunnions , Molly Pushrods, Melling 10355HV Oil Pump, Cold Air Inductions CAI, Fast LSXR Intake Manifold, Nick Williams 103 TB, TSP 1 7/8" Longtubes with 3" TSP Exhaust, ZL1 Fuel Pump, Mishimoto Radiator, Mishimoto Oil Cooler, Tru Cool 40k Tranny Cooler, 3600 Circle D Converter, Fluid Dynamics Balancer Build Thread https://www.camaro5.com/forums/showthread.php?t=609817

01-28-2022, 06:27 AM	#8
NickSaggy Drives: Chevy Van Join Date: Jan 2022 Location: Germany Posts: 1	The government has been strictly on this one __________________ discuss distribute Last edited by NickSaggy; 04-19-2022 at 08:03 AM.

05-27-2021, 04:13 PM	#2
G8One2 Drives: 2014 Camaro 2SS Join Date: Feb 2015 Location: Metro Detroit Posts: 492	Inflation, big brother integration into new vehicles and the push for electric cars nobody wants, and the sticker price of these new vehicles people are keeping their ICE cars, driving up the cost of used. Not to mention, purchasing power and cashflow goes down considerably when inflation increases. More people are buying used, over new for various reason. That's just my worthless opinion.

05-29-2021, 07:54 AM	#4
jimmyp Drives: 2013 Camaro Convertible Join Date: Jan 2015 Location: New York Posts: 136	This will all calm down in 6 months when everything gets back up to speed. Some of the used car prices I've seen are just ridiculous. I was looking to pick something up, but I think im going to have to wait a while, or just buy new.

05-29-2021, 11:15 AM	#5
G8One2 Drives: 2014 Camaro 2SS Join Date: Feb 2015 Location: Metro Detroit Posts: 492	Chip shortages aren't helping new car sales either.

10-08-2021, 12:38 PM	#7
silversleeper Big Crow Drives: '13 ZL1 Join Date: Mar 2017 Location: California Posts: 1,545	I was looking to buy a good used muscle car for the family this weekend. Their preferred was a Challenger. V8s way expensive and even v6's wanting the same price as a new car if it is 1 or 2 years old. 30k+ on a used v6. Just updating that the market is still crazy on used cars 10years old or less. https://wolfstreet.com/2021/10/07/us...ket-gone-nuts/ *Over the first nine months of the year, the average resale value of a one-year old vehicle jumped by 25%, or by $7,759* Used vehicle wholesale prices spiked 5.3% in September from August, to a new record, according to Manheim this morning, the largest auto auction operator in the US and a unit of Cox Automotive. This spike in the Used Vehicle Value Index more than wiped out three months in a row of declines that had spread false hopes that the used vehicle craziness would finally abate. The index is now up 27% from September last year when this craziness was already well underway. And it formed a record two-year spike of 46.4% from September 2019. The sales conversion rate at the auctions rose throughout September and in the last week of September surpassed 66% compared to 52% in September 2019 as dealers were more aggressive at buying vehicles. This, according to Manheim, indicates that wholesale demand will likely remain strong through October:...