Heres Why Used Car Prices are About to Plummet (Buy Now and Save Big)
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Date: 2020-04-15
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Comments and reviews: 9
Gogle
I would think used car prices would rise because no one can visit a dealership, or it's difficult, anyway, and most sales are consummated by sales tactics by car salesmen and their finance people promising low monthly payments, but for the rest of your life, or 6, 7, 8 years, ensuring the purchaser will be upside down in car value to amount still owed pretty quickly. So without the pressure of being in a dealership for new cars, more folks will both NOT sell their current cars but folks needing a car will have to go with used, raising prices. Once the social distancing rules are relaxed, I expect new car prices to plummet since they'll have a huge backlog of already produced vehicles though. Wonder if there's a good/simple website (not kbb or edmunds) that shows used car pricing trends, it would be interesting to see which way they go. RichE San Diego, CA
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I would think used car prices would rise because no one can visit a dealership, or it's difficult, anyway, and most sales are consummated by sales tactics by car salesmen and their finance people promising low monthly payments, but for the rest of your life, or 6, 7, 8 years, ensuring the purchaser will be upside down in car value to amount still owed pretty quickly. So without the pressure of being in a dealership for new cars, more folks will both NOT sell their current cars but folks needing a car will have to go with used, raising prices. Once the social distancing rules are relaxed, I expect new car prices to plummet since they'll have a huge backlog of already produced vehicles though. Wonder if there's a good/simple website (not kbb or edmunds) that shows used car pricing trends, it would be interesting to see which way they go. RichE San Diego, CA
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Brad
I've been watching the used car market for months now. I will be buying one in the next month or so. I'm looking into trucks. SUV if the deal is right. What I have noticed, with trucks especially. The past 2-3 weeks, they have raised prices by 1000. 00. I expected prices to drop after this as you do. But I see some dealerships are expecting it also. So some are raising prices why people are not watching so they can lower the price in the near future just to say, see, prices came down. Scotty is right! But start shopping and checking prices now. That way you will know which dealerships are trying to falsify a price decrease.
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I've been watching the used car market for months now. I will be buying one in the next month or so. I'm looking into trucks. SUV if the deal is right. What I have noticed, with trucks especially. The past 2-3 weeks, they have raised prices by 1000. 00. I expected prices to drop after this as you do. But I see some dealerships are expecting it also. So some are raising prices why people are not watching so they can lower the price in the near future just to say, see, prices came down. Scotty is right! But start shopping and checking prices now. That way you will know which dealerships are trying to falsify a price decrease.
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Cactus
What? where do you get this? NEW CARS are piling up. Good USED CARS are in short supply. Auctions have been closed and lot's are low on inventory. I ton of people just lost there jobs and do you think they are looking for a NEW car? I work in the heart of the used car industry and i can assure you USED cars are about to go much higher. new cars might be discounted a little but if your not working does it matter? So if you are in the market for a used car or truck BUY IT TODAY. tomorrow it will be more expensive.
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What? where do you get this? NEW CARS are piling up. Good USED CARS are in short supply. Auctions have been closed and lot's are low on inventory. I ton of people just lost there jobs and do you think they are looking for a NEW car? I work in the heart of the used car industry and i can assure you USED cars are about to go much higher. new cars might be discounted a little but if your not working does it matter? So if you are in the market for a used car or truck BUY IT TODAY. tomorrow it will be more expensive.
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MotorheadRedo
I've seen so many cars and motorcycles priced over blue book value that I wondered if blue book values were undervalued. But I never thought the blue book values could be over inflated, and I never knew these businesses were owned by companies that sell used cars. Your probably right about all this. I sure hope used car and motorcycle prices do drop.
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I've seen so many cars and motorcycles priced over blue book value that I wondered if blue book values were undervalued. But I never thought the blue book values could be over inflated, and I never knew these businesses were owned by companies that sell used cars. Your probably right about all this. I sure hope used car and motorcycle prices do drop.
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Rafalp
Same thing goes for a lot of car makers I had a Camry se 2016 new lease had a problem with info screen since new took them over a year to fix it hay to call Headqoders a lot a hassle than wheels bearing was making noise 10 k on the car same thing phone calls too and had to pay for rental car could not to give it back got a Honda Accord no problem
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Same thing goes for a lot of car makers I had a Camry se 2016 new lease had a problem with info screen since new took them over a year to fix it hay to call Headqoders a lot a hassle than wheels bearing was making noise 10 k on the car same thing phone calls too and had to pay for rental car could not to give it back got a Honda Accord no problem
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London
Hey Scotty! I hope you well and manage to avoid this virus. I know BMW doesnt have the best reliability reputation in the USA but here in uk there are no to bad specially the Diesel engines you can see then as a mini cub or taxi so it means the do tons of mileage every day. My question is why theyre so unreliable over there.
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Hey Scotty! I hope you well and manage to avoid this virus. I know BMW doesnt have the best reliability reputation in the USA but here in uk there are no to bad specially the Diesel engines you can see then as a mini cub or taxi so it means the do tons of mileage every day. My question is why theyre so unreliable over there.
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Rick
I think I will stick with my 2011 Prius, which I purchased new. It has 207, 000 miles. Original everything except airbags. Looks like new, runs like new and best of all it's paid for. I like Scottys way. Buy a Toyota and drive it forever. The old Toyota slogan said, Once you get your hands on a Toyota, you'll never let go.
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I think I will stick with my 2011 Prius, which I purchased new. It has 207, 000 miles. Original everything except airbags. Looks like new, runs like new and best of all it's paid for. I like Scottys way. Buy a Toyota and drive it forever. The old Toyota slogan said, Once you get your hands on a Toyota, you'll never let go.
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Bruce
6: 25 Scotty, any particularly good or bad years on Toyota Camrys or Avalons? Like the post 1999) Celica with the Yamaha engine that we want to avoid, for instance? Im thinking my stimulus money might go towards a secondary car, and I was actually admiring somebodys Avalon just a few hours ago in the parking lot
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6: 25 Scotty, any particularly good or bad years on Toyota Camrys or Avalons? Like the post 1999) Celica with the Yamaha engine that we want to avoid, for instance? Im thinking my stimulus money might go towards a secondary car, and I was actually admiring somebodys Avalon just a few hours ago in the parking lot
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George
All the manufacturers will Offer Serious discounts and rebates on financing. This will cause people to buy new over used. Used will drop like a rock. 7 years as a retail salesmen and worked during 911 and watched the same thing happen. Factory panic. Drops prices. Kills used car market for the next 2-3 years.
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All the manufacturers will Offer Serious discounts and rebates on financing. This will cause people to buy new over used. Used will drop like a rock. 7 years as a retail salesmen and worked during 911 and watched the same thing happen. Factory panic. Drops prices. Kills used car market for the next 2-3 years.
reply
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