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WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?

 
russianbot2020
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12/06/2020 09:11 AM
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WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
In 2006 I bought a 6 year old Tacoma for $7k. This year her underframe finally rusted out bad enough that I needed a replacement (thank you MaineDOT for all the salt).

I have been used car hunting for the past week (usually buy from Florida or the Midwest to avoid rust) and MAN OH MAN...

Ladies and gentleman, hyperinflation is here, we've just not paying attention.

[link to publish.manheim.com (secure)]

[link to publish.manheim.com (secure)]

Used truck prices are going up 30% YEAR OVER YEAR!??!?

Before I retired I would buy and sell used cars yearly with my sons for fun. Finding a car or truck for under $1000 was easy, they seemed to be everywhere. In fact I've bought several cars under $500 that ran and drove fine. Don't know what happened but seems like you can't find anything now for less than $2k, and even then it's a gamble.
Anonymous Coward
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12/06/2020 09:23 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
Yes, it's here and most people won't realize how bad it is until they go to try to buy something.

About two years ago at most, I was pricing backyard sheds. Mostly from Sunbelt or Rubbermaid or Tuffbilt. The size I was looking at, about an 8x8, was around $800. Something happened and the money went to something else. Now, I am back to needing that shed before Spring, and the prices have shot up to about $2200 for the same units!

If hyperinflation was the goal, they've succeeded wildly.
I can't imagine needing to buy a car right now but I see new ones with stickers everywhere. I guess it is easier than buying used which is nuts.
Anonymous Coward
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12/06/2020 09:25 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
new car production is depressed so people having to buy used

also people forced to buy used due to money crunch

supply and demand is all

I noticed it months ago buying a truck.
Anonymous Coward
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12/06/2020 09:28 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
In 2006 I bought a 6 year old Tacoma for $7k. This year her underframe finally rusted out bad enough that I needed a replacement (thank you MaineDOT for all the salt).

I have been used car hunting for the past week (usually buy from Florida or the Midwest to avoid rust) and MAN OH MAN...

Ladies and gentleman, hyperinflation is here, we've just not paying attention.

[link to publish.manheim.com (secure)]

[link to publish.manheim.com (secure)]

Used truck prices are going up 30% YEAR OVER YEAR!??!?

Before I retired I would buy and sell used cars yearly with my sons for fun. Finding a car or truck for under $1000 was easy, they seemed to be everywhere. In fact I've bought several cars under $500 that ran and drove fine. Don't know what happened but seems like you can't find anything now for less than $2k, and even then it's a gamble.
 Quoting: russianbot2020


Oh yes. We know.
Our daughter took out the front end of her car. Just bought her another one last month. I bet we looked at 50 cars. Pieces of literal junk were 3 grand.
Anonymous Coward
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12/06/2020 09:46 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
Also people just cannot afford the new ones. They are forced to buy used.
Anonymous Coward
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12/06/2020 10:00 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
It’s been this way in CA for probably
10 years. The cash for clunkers used car government buyback program took almost all affordable cars off the mkt.
I used to flip like 3 cars a year and go on vacation or buy extra things we wanted.
You really can’t buy much for under 3k, and that’s for a major piece of crap. Super high milelage, no smog, etc.
My sis was looking for something in the 6k range a few years back and that was my eye opener.
Dented, over 200k miles, just ugly cars were available.
She gave up the search and wound up financing and way overpaying for a used car from a lot.
Anonymous Coward
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12/06/2020 10:03 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
1. Almost all the cars made during the GFC fell apart
2. Pre GFC designed cars, are old enough now to need expensive repairs like whole exhaust worth more than the vehicle.
3. Car Auctions and Dealers to make money have created the 3k floor for piles of parts
Anonymous Coward
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12/06/2020 10:06 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
In 2006 I bought a 6 year old Tacoma for $7k. This year her underframe finally rusted out bad enough that I needed a replacement (thank you MaineDOT for all the salt).

I have been used car hunting for the past week (usually buy from Florida or the Midwest to avoid rust) and MAN OH MAN...

Ladies and gentleman, hyperinflation is here, we've just not paying attention.

[link to publish.manheim.com (secure)]

[link to publish.manheim.com (secure)]

Used truck prices are going up 30% YEAR OVER YEAR!??!?

Before I retired I would buy and sell used cars yearly with my sons for fun. Finding a car or truck for under $1000 was easy, they seemed to be everywhere. In fact I've bought several cars under $500 that ran and drove fine. Don't know what happened but seems like you can't find anything now for less than $2k, and even then it's a gamble.
 Quoting: russianbot2020


It's one of them last phases of globalism from the perspective of the host country.

We gave it all away and now don't have the monetary horsepower to keep up with the ones we gave it to.

Thank the globalist CEO's. Payback is gonna be a bitch. Hope you made enough to move somewhere safe.
Icey

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12/06/2020 10:15 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
Cash for clunkers.
I am SNOWIE. WELCOME TO THE NEW ICE AGE. TRY NOT TO STARVE.
Anonymous Coward
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12/06/2020 10:22 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
Supply / Demand

Most average people do NOT want to spend $35,000 to $60,000 on a new car, which is what the middle of the road vehicle costs today. Instead they look at the used market, which has driven the cost of used middle of the road vehicles through the roof.

Now if you can live with a bottom of the barrel vehicle one can find those used for a decent price ... an bottom of the barrel vehicles today are MUCH better vehicles than the ones they made back in the early 00's. Shoot, during the year end close outs this year I even saw Ford Focus's available NEW for $10,000.

(you have to go out to some place like AutoTrader.com and poke in a price, year, and milage limit to see them show up, but there were lot's of dealers selling them at those prices - dealers will NEVER advertise those prices in any mass advertising location, or even on their lots - have to ASK, since they don't want to rob their higher priced sales)

One can also go directly to the Auto Auctions, now that they are reopened, and bid on the used inventory ... which has it's own risks but if you know what you are doing the risks are minimal and you can buy the vehicle for several thousand less than the dealer is going to list it when he puts it on his lot.

Lots of way to skin the cat on this one, but Supply / Demand rules the overall pricing situation.
Michael.

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12/06/2020 10:27 AM

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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
In 2006 I bought a 6 year old Tacoma for $7k. This year her underframe finally rusted out bad enough that I needed a replacement (thank you MaineDOT for all the salt).

I have been used car hunting for the past week (usually buy from Florida or the Midwest to avoid rust) and MAN OH MAN...

Ladies and gentleman, hyperinflation is here, we've just not paying attention.

[link to publish.manheim.com (secure)]

[link to publish.manheim.com (secure)]

Used truck prices are going up 30% YEAR OVER YEAR!??!?

Before I retired I would buy and sell used cars yearly with my sons for fun. Finding a car or truck for under $1000 was easy, they seemed to be everywhere. In fact I've bought several cars under $500 that ran and drove fine. Don't know what happened but seems like you can't find anything now for less than $2k, and even then it's a gamble.
 Quoting: russianbot2020


Not 100% sure of this but I think the 2006 Tacoma was covered under the bad frame recall where the metal used was poor and led to rust problems. They replaced the frames in the recall.
Farewell American Samoa, the "last stop of today and just a stones throw from tomorrow"and with that said and done I stood up, standing at the end of the day and walked boldly onward into tomorrow and to the given day of rest.
Red Hot Chilean Pepe

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12/06/2020 10:27 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
new car production is depressed so people having to buy used

also people forced to buy used due to money crunch

supply and demand is all

I noticed it months ago buying a truck.
 Quoting: Anonymous Coward 78526257


hesright

I was going to point out the same, in tough times all alternatives to new become more on demand and prices hike.
All great truths begin as Blasphemies.
G.B.S.

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TXP

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12/06/2020 10:29 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
new car production is depressed so people having to buy used

also people forced to buy used due to money crunch

supply and demand is all

I noticed it months ago buying a truck.
 Quoting: Anonymous Coward 78526257


Seconded.
.
"Stop the lockdown. Stop the masks. Stick your vaccine up your ass." - Tess....AMEN!

"What does CENSORSHIP reveal? It reveals FEAR."
- Julian Assange

.
Anonymous Coward
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12/06/2020 10:30 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
Some folks besides you, have come to realize $45k for a new truck is insane. So $25k is more like it. Supply and demand not inflation.
Anonymous Coward
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12/06/2020 10:30 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
Do you know how many older cars were removed from market during cash for clunker govt' program?

Supply and demand....they removed the supply, demand was the same and higher.....higher prices were a given.

There is no such thing as receiving something for nothing.
Anonymous Coward
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12/06/2020 10:34 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
Used truck prices are going up 30% YEAR OVER YEAR!??!?

Before I retired I would buy and sell used cars yearly with my sons for fun. Finding a car or truck for under $1000 was easy, they seemed to be everywhere. In fact I've bought several cars under $500 that ran and drove fine. Don't know what happened but seems like you can't find anything now for less than $2k, and even then it's a gamble.
 Quoting: russianbot2020


Its been years since I bought a car, but I bought a beater for a dollar, no shit, it ran like a dream for 3 years and total I had to sink into it was $150 for minor repairs. That was 2005-late07
Anonymous Coward
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12/06/2020 10:35 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
Buying used cars is what smart people do hence people are getting smarter.
Donald Trump45

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12/06/2020 10:36 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
You’re much better off leasing with a maintenance plan in loin the lease. It’s much cheaper than buying and having to fork out thousands of dollars for a down payment.
Donald Trump
Anonymous Coward
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12/06/2020 10:36 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
A lot of people lost their jobs so they can only afford the cheapest cars now. So everybody wants a 1k car. The 10k cars are still there.
Anonymous Coward
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12/06/2020 10:38 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
You can fix old trucks and tractors. You cannot fix new models because it is prohibitively expensive to wade through 100 computers, 50 sensors, and half a dozen cameras to sort out the bugs.

Gees, get a bumper hit and its not the bumper that costs an arm and leg to repair, you have all that other technical crap packed in there. its 100 dollar bumper and 5 grand in other stuff to handle. How many trained techs can handle it? How many car dealers want to touch a 3 year old, out of production model? And what guarantees can any of them give you that they can track down the programming/ software gremlins lurking in there?

Todays cars are made to have a 3 to 5 year life after which they are intended to be junked. They are DISPOSABLE.

All the greenies whinging about the green footprint on my 30 year old jeep are insane. Just f-ing insane.
Agent 99

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12/06/2020 10:39 AM

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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
You missed the window.

Time to buy used cars was before November.
Anonymous Coward
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12/06/2020 10:42 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
In 2006 I bought a 6 year old Tacoma for $7k. This year her underframe finally rusted out bad enough that I needed a replacement (thank you MaineDOT for all the salt).

I have been used car hunting for the past week (usually buy from Florida or the Midwest to avoid rust) and MAN OH MAN...

Ladies and gentleman, hyperinflation is here, we've just not paying attention.

[link to publish.manheim.com (secure)]

[link to publish.manheim.com (secure)]

Used truck prices are going up 30% YEAR OVER YEAR!??!?

Before I retired I would buy and sell used cars yearly with my sons for fun. Finding a car or truck for under $1000 was easy, they seemed to be everywhere. In fact I've bought several cars under $500 that ran and drove fine. Don't know what happened but seems like you can't find anything now for less than $2k, and even then it's a gamble.
 Quoting: russianbot2020


My Lady is the Sales and Finance Mngr for a high end B-lot and specializes in high end Trucks, prices have definitely gone way up, but it's not due to hyperinflation, or CV-19 price gouging, or anything nefarious at all for that matter. It's simply supply and demand, there's very little supply available due to the nature of markets at this point as a direct result of lockdowns, layoffs and job loss. The Wholesale Market price for used auto's, especially high end i.e. 4x4, Lifted 4x4, Utility Trucks and SUV's has increased significantly due to lack of inventory. The prices are reflective of the current sales market, which has also seen a huge decrease due to New Car promotions in a slow market.
dRocballer

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12/06/2020 10:45 AM

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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
In 2006 I bought a 6 year old Tacoma for $7k. This year her underframe finally rusted out bad enough that I needed a replacement (thank you MaineDOT for all the salt).

I have been used car hunting for the past week (usually buy from Florida or the Midwest to avoid rust) and MAN OH MAN...

Ladies and gentleman, hyperinflation is here, we've just not paying attention.

[link to publish.manheim.com (secure)]

[link to publish.manheim.com (secure)]

Used truck prices are going up 30% YEAR OVER YEAR!??!?

Before I retired I would buy and sell used cars yearly with my sons for fun. Finding a car or truck for under $1000 was easy, they seemed to be everywhere. In fact I've bought several cars under $500 that ran and drove fine. Don't know what happened but seems like you can't find anything now for less than $2k, and even then it's a gamble.
 Quoting: russianbot2020


Not 100% sure of this but I think the 2006 Tacoma was covered under the bad frame recall where the metal used was poor and led to rust problems. They replaced the frames in the recall.
 Quoting: Michael.


THIS!

I can’t tell you how many frames I’ve seen replaced at my 4 years at Toyota. It’s very possible it may be covered.
Prior Service Member - Oath Keeper, politicians BEWARE
Anonymous Coward
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12/06/2020 10:47 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
I've noticed it too.

But lease deals are very competitive.

In the paper today, a new Nissan Altima is going for ZERO down and $199/mo (10k mile/36 mo lease).

Seems very low to me and I would probably go this route if I only drove 10k miles per year.
Anonymous Coward
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12/06/2020 10:47 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
I am not sure what is going on.

But i can tell you food, housing, and other essential items are skyrocketing.

especially food/housing.

everything is so god damn expensive.
Fizarak

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12/06/2020 10:48 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
Is it from hyper inflation or supply/demand?

Figure there have to be millions of people fleeing the cities where they used to not need to own a car to get around. Outside the big cities you can't just uber/taxi/walk/bike everywhere you need to go.
rainmaker007

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12/06/2020 10:49 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
In 2006 I bought a 6 year old Tacoma for $7k. This year her underframe finally rusted out bad enough that I needed a replacement (thank you MaineDOT for all the salt).

I have been used car hunting for the past week (usually buy from Florida or the Midwest to avoid rust) and MAN OH MAN...

Ladies and gentleman, hyperinflation is here, we've just not paying attention.

[link to publish.manheim.com (secure)]

[link to publish.manheim.com (secure)]

Used truck prices are going up 30% YEAR OVER YEAR!??!?

Before I retired I would buy and sell used cars yearly with my sons for fun. Finding a car or truck for under $1000 was easy, they seemed to be everywhere. In fact I've bought several cars under $500 that ran and drove fine. Don't know what happened but seems like you can't find anything now for less than $2k, and even then it's a gamble.
 Quoting: russianbot2020


Not 100% sure of this but I think the 2006 Tacoma was covered under the bad frame recall where the metal used was poor and led to rust problems. They replaced the frames in the recall.
 Quoting: Michael.


I have an 06 tacoma with 212k miles on it. Not burning oil and looks like new. I think he said he has a 2000 tacoma he bought in 2006. If you live in CA only use denso oxygen sensors on these or you will get a check engine light. Bosch dont work. Just a heads up.
Wake up
Big Duke6

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12/06/2020 10:50 AM

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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
Also people just cannot afford the new ones. They are forced to buy used.
 Quoting: Anonymous Coward 79113477


It's the BS of the Trump economy. Bootlickers in the Trump Administration have been fudging the numbers.

Bread lines tell the truth, even in Texas.
Anonymous Coward
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12/06/2020 10:52 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
new car production is depressed so people having to buy used

also people forced to buy used due to money crunch

supply and demand is all

I noticed it months ago buying a truck.
 Quoting: Anonymous Coward 78526257


Spot on. Also, people are not using rise share or public transportation as much now fear of catching the flu- Rona
Big Duke6

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12/06/2020 10:52 AM

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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
Is it from hyper inflation or supply/demand?

Figure there have to be millions of people fleeing the cities where they used to not need to own a car to get around. Outside the big cities you can't just uber/taxi/walk/bike everywhere you need to go.
 Quoting: Fizarak


Dumb assed Trump tariffs on Canadian Steel don't help.

Juiced the labour rates of maybe 50K steel workers to the detriment of 350M Americans paying higher prices on everything.
Anonymous Coward
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12/06/2020 10:54 AM
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Re: WHAT THE H-E-DOUBLE-HOCKEY-STICKS IS GOING ON WITH USED CAR PRICES??!?
In 2006 I bought a 6 year old Tacoma for $7k. This year her underframe finally rusted out bad enough that I needed a replacement (thank you MaineDOT for all the salt).

I have been used car hunting for the past week (usually buy from Florida or the Midwest to avoid rust) and MAN OH MAN...

Ladies and gentleman, hyperinflation is here, we've just not paying attention.

[link to publish.manheim.com (secure)]

[link to publish.manheim.com (secure)]

Used truck prices are going up 30% YEAR OVER YEAR!??!?

Before I retired I would buy and sell used cars yearly with my sons for fun. Finding a car or truck for under $1000 was easy, they seemed to be everywhere. In fact I've bought several cars under $500 that ran and drove fine. Don't know what happened but seems like you can't find anything now for less than $2k, and even then it's a gamble.
 Quoting: russianbot2020


Opie... Toyota has LIFETIME warranty /recall that was put on the Taco frames. Might want to look into it.





GLP