Used Car Prices

[Stimw]

What a total scam!
Been looking for a specific late model SUV for a couple months. Paying cash and not in a hurry.
EVERYONE is quoting KBB which takes the price that a car is listed for and quotes that as current market value.
Meanwhile smart buyers negotiate a better sale price which is NOT quoted. So the market value is falsely inflated.
I am seeing used 4-5 year old vehicles with 20k miles listed for the same price as new 2017 discounted ones.
Where are all the TV lawyers with this scam? (Hint- owning car lots?)
And soon the market will have flood vehicles to watch out for!

 

[Diamondpilot]

I dont see how this is a scam? Its market.....

We bought a 2017 Civic loaded for 2K more than the 2015 used one with 40,000 miles needing new tires and soon a brake job.

I have found that buying used only pays if you can get it 2 to 3 years old for 1/2 the price of new. Because of this I have owned 26 vehicles now and only 6 were bought used. Just not worth it in my opinion 9 out of 10 times when you consider the warranty and wear items.

 

[Diamondpilot]

Also, where are you finding 20,000 mile 5 year old vehicles? We put that on per year.

 

[JJZ 109]

I dont see how this is a scam? Its market.....

That's how I see it. Everyone in America has the profit motive. In the internet age, if you're not doing your research, you're going to get stung.
Fortunately for Stim, he appears to be doing that homework and showing patience. Doesn't necessarily make what he sees a scam. It's just folks trying to maximize profit like it's always been.

 

[kf4uda]

The used truck market is even worse. I usually buy new and keep several years so I have been out of the game for a while. I thought the new prices were high so I started pricing used. The new prices don't look as bad now!

 

[bspeedy]

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.

 

[two_bit_score]

There are a lot of scams in the car bidness.....but this is not one of them. DP is right. It's just the market.

I can't believe some of the prices I see at car auctions from dealers. But they are basing their offers on what they can finance the car to a customer for.

 

[timswi]

My wife put 35k on her Hummer over the 8 years we've owned it. They are out there.

 

[antlers125]

Take a look at CARVANA.COM. It is a web based dealership. They offer some pretty good incentives. We purchased a 2014 Impala LT w/11,000 mles. The car's original sale price was over $32,000, we paid $18,000.

 

[two_bit_score]

truecar.com



.