Used Car Prices

[/pine]

Anyone else think that there will be a slew of cars that were "totaled" by insurances companies after Texas flooding will reach the market (regardless of preventative laws etc.) ?...There were literally hundreds of thousands of cars effected...

 

[fried1765]

Two words - private owner.

Wait another two months - sometime between Thanksgiving and Dec 31. Property taxes are due, kids need Christmas gifts... A cash offer way below the asking price may look attractive to the right seller.

Yup!
You can even go until the end January, when those Christmas bills need to actually be paid.
No good after March 1st though, when income tax refunds start to come in.

 

[Turbys_1700]

I bought a 2015 Chrysler 300 Limited this February at Car Max. Pretty painless. My old Buick had 220K miles on it and I figured it was time to get something better. Car listed for mid 30's new with the options on it and was priced at 22.5K with 6300 miles and warranty until 2019. Right now we will put around 6-8K miles on it per year. I figure I bought a relatively new car for a used price.

 

[two_bit_score]

Anyone else think that there will be a slew of cars that were "totaled" by insurances companies after Texas flooding will reach the market (regardless of preventative laws etc.) ?...There were literally hundreds of thousands of cars effected...

The thing most people don't realize about vehicles "totaled by insurance companies" is that there are a lot of vehicles that barely got wet that were "totaled" for reasons that had nothing to do with being flooded.

They are very good buys if you can find them.

TBS

 

[two_bit_score]

Deleted duplicate post.

TBS

 

[mjonesnh]

Purchased a 2017 Escape in Feb. After $4000 in rebates plus another $ 2000 in dealer discounts we were within $ 2000 of used 2015 with 20,000 miles. Saw one local dealer with 2017 used with 7300 miles that was $ 1700 more than we paid new at that time.

 

[coobie]

I have less than 16,000 miles on my 2006 Nissan X-Trail.

Yep,wife has 91,000 miles on her 2008 ford taurus.

 

[paulfun9]

Two words - private owner.

Wait another two months - sometime between Thanksgiving and Dec 31. Property taxes are due, kids need Christmas gifts... A cash offer way below the asking price may look attractive to the right seller.

Key word here is wait!!
Watch the add, especially the pics if internet shopping (no one admits they had to relist so many times so pay attention to the pics because most are too caught up in things to take different pics). Most will be relisted a few times before they start to lower the price and many will still be high then but that's when you need to start paying attention and be ready with cash in hand.

 

[jwstewar]

The thing most people don't realize about vehicles "totaled by insurance companies" is that there are a lot of vehicles that barely got wet that were "totaled" for reasons that had nothing to do with being flooded.

They are very good buys if you can find them.

TBS

True this.

I have a buddy that runs a junk yard so he is always buying cars at the auction. For both parts and fix/resale. Last March he bought a "flood truck". It is a 2015 Chevy Silverado 2500HD 4x4 Crew Cab with the DuraMax and Allison. It had 25k miles on it, not a scratch on the body. He bought it for less than 25k. It had apparently been sitting at an incline when it flooded. He sprayed the back bumper off, changed the bulbs in the license plate lights and had it inspected. He is driving it as his personal vehicle now. I keep telling him he doesn't need it and should sell it to me.

 

[Diamondpilot]

I would not touch a flood vehicle for nothing. Seen it too many times where issues show up 5 years down the road.