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You have empty shelves, workplaces start going in person again and demand for cars becomes less elastic. Potentially used cars start selling for more than they
by willcipriano 6y ago
You have empty shelves, workplaces start going in person again and demand for cars becomes less elastic. Potentially used cars start selling for more than they cost new.
- mleo 6y agoUsed cars went up in value last year. Rental car companies sold their fleet cars into a better market and did not acquire new cars. This left rental car companies short on supply and able to raise rental car prices to compensate as people travel again. A couple of weeks ago, with seemingly no large events occurring, all rental cars in San Antonio were rented. This week, they are available, but at higher prices than I would normally expect.
- kyllo 6y agoI'm even seeing stories about U-Haul trucks all being rented out by tourists because rental cars are unavailable, causing a shortage of rental trucks for movers.
- ericmay 6y agoWhere are you seeing these stories?
- jeromegv 6y agoHawaii https://www.hawaiinewsnow.com/2021/04/22/why-are-visitors-cruising-around-u-hauls-blame-pandemic/ https://www.hawaiinewsnow.com/2021/04/22/why-are-visitors-cr...
- deleted 6y ago[deleted]
- olyjohn 6y agoMan, U-Haul must be pretty happy. Just a few weeks ago, my UPS driver showed up in a U-Haul truck and was using it to deliver packages.
- chadash 6y agoI bought a used car last year for 13k after taxes and fees. 9 months later, I sold to Carvana for 16k (even with a few scratches that would have been $300 to fix, plus a $200 scheduled service coming up in a few weeks). Carvana needs to make a profit, so presumably they're going to mark it up further. It's a crazy world right now.
- throwaway0a5e 6y agoCarvana is the Internet's BHPH lot. They don't care how much they spend to buy the car because they're gonna sell it for 50% down with 20% APR to someone who can't get financing otherwise.
- jamiek88 6y agoThen sell it again once they repo it.