Is it just me or do others feel that since the economy went in the ****ter and presumably folks couldn't afford new cars anymore used car prices have gone nuts? I'm talking about cars from around 95 on.

I've been looking around for a week and all cars that seem fairly decent from the last fifteen years have ludicrous prices on them in my opinion. Or is this just a Phoenix phenomenon? Or am I just hopelessly out of touch with reality?

For example, why the hell would anyone pay 8 grand or above for a ten year old car with around 120K miles on it?

- Peter.

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2021 Chevrolet Spark
Formerly...
2000 GMC Sonoma
1981 240D 4spd stick. 347000 miles. Deceased Feb 14 2021
2002 Kia Rio. Worst crap on four wheels
1981 240D 4spd stick. 389000 miles.
1984 123 200
1979 116 280S
1972 Cadillac Sedan DeVille
1971 108 280S

The cash for clunkers program, coupled with the new automakers low production numbers for years because of the lack of demand, have been two factors causing used prices to spike. Granted, the used vehicle buyers are more selective too, from my experience recently.

One thing it's created is a strong new vehicle sales environment because of the lower interest rates, and current demand for new.

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'06 E320 CDI
'17 Corvette Stingray Vert

They're higher everywhere.

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1987 560SL
85,000 miles

Yes the average resale prices today do not represent good value in my opinion in Canada as well. May as well consider new unless you stumble on something.

We do have one local dealer who really moves a lot of cars. His prices must make other dealers really dislike him. But his operational format is successful.

Indeed they seem to be on the up here too.

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1992 W201 190E 1.8 171,000 km - Daily driver
1981 W123 300D ~ 100,000 miles / 160,000 km - project car stripped to the bone
1965 Land Rover Series 2a Station Wagon CIS recovery therapy!
1961 Volvo PV544 Bare metal rat rod-ish thing

I'm here to chat about cars and to help others - I'm not here "to always be right" like an internet warrior



Don't leave that there - I'll take it to bits!

Peter it depends what you're looking for, and in what price point. For instance, take a look at what a used S-Class from 2002 is going for. $8-12K for a former $100K car.

True but my estimation it was not really worth 100k when new by a long stretch. Paying for prestige is not wise. Especially if it has good brand potential it may become problamatic. Depreciation is also expected to be massive. Although many types of simular decisions keep the economy going.

I was about to start the same "overpriced used car" thread.
Notice how Hondas and Toyotas are insanely priced.
The amount of 'untruthing' seems to increased with the prices;
(My Favorite statements)
"Mostly Highway miles";...
"Oil changed every 3000 miles";...
"These cars last forever"
"200,000 is just broken in"
"No Title....but they are easy to get"
Junk= "Rat Rod"
"This is rare classic"
http://springfield.craigslist.org/cto/3464868520.html (Notice the claimed mileage, the odometer reading, price and condition....are people retards?)
Also, I noticed "Low miles" is anything under 200,000 miles.
Cars are being pulled out of the woods & weeds and are now "classic projects".
"No Title....but they are easy to get"
A lot of people wanting to trade........

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"Our Lady of Blessed Acceleration...
don't Fail Us Now"

Easy credit plays well into high prices. Look at what happened to real estate. Restrict credit somewhat and prices would drop.

One hundred and five dollars bi weekly is not a car price. People do not seem to care how much it cost just that they can manage the payments.

My son in law has 200k on a vehicle purchased new he still owes 14k on and if sold privatly today might bring 6K.

He has GAP insurance?

Wow..........that was a bad fire. Gas tank must have developed a leak or something. Glad nobody was hurt.

Yeah they're all high right now. A running sub-1k truck is the holy grail now.

Titles aren't too hard to procure for pre-1995 vehicles. Any newer than that and you're looking at around $500 in legal fees and a month of waiting.

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$60 OM617 Blank Exhaust Flanges
$110 OM606 Blank Exhaust Flanges
No merc at the moment

240D bought for $2500. I can easily sell for the same. Put maybe $1000 of work into the car over two years. Union parasites in Deeeeee-TROIT got zero from me for this pleasure.

Yes. I should have qualified that. I don't mean High end luxo image machines which were stupidly expensive to start with. I'm talking about pretty much regular run of the mill transportation.

Detroit, foreign, doesn't seem to make much difference.

- Peter.

__________________
2021 Chevrolet Spark
Formerly...
2000 GMC Sonoma
1981 240D 4spd stick. 347000 miles. Deceased Feb 14 2021
2002 Kia Rio. Worst crap on four wheels
1981 240D 4spd stick. 389000 miles.
1984 123 200
1979 116 280S
1972 Cadillac Sedan DeVille
1971 108 280S

I agree. Folks are definitely driving their cars longer. OTOH, because money is tight, they aren't necessarily maintaining them well.

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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)

Total loss on property insurances right now is way above market. I am suprised more house fires are not out there. I just cannot do things like that while watching others do it on occassion. My feeling is the insurance rates reflect this factor and the insurance companies are well aware of the practice.

I believe I know a couple of families that have probably burnt their way to prosperity.