4 ms·

Kind of true but also not as true as it was pre-COVID. Used car prices skyrocketed during COVID to the point that people are selling their 2-3 year old cars for

Kind of true but also not as true as it was pre-COVID. Used car prices skyrocketed during COVID to the point that people are selling their 2-3 year old cars for more than current new MSRP. And a 10 year old Corolla is often more than $10k. Prices are just now starting to come back down, but probably not to pre-COVID prices.

altdataseller 4y ago
Used cars are now just $3k USD more than new cars, on average. There should be absolutely no reason to buy a used car anymore. I feel like I'm living in a bizarro world b/c everyone seems to claim buying a used car is the much better financial decision. It isn't for me, by a long margin.
- mywittyname 4y ago
  There honestly hasn't been much reason to buy a new car since the GFC. It's really felt like new cars were subsidized because they were necessary to create used cars. With the last several cars I bought, or tried to buy, the negotiation ended up with the new car price being the same, or lower than 1-2 year old models with the same options. I feel like most used car buyers look at inflated MSRP and judge the "discount" for the used car based on that. They don't factor in the sometimes massive discounts (pre COVID, of course) that practically every new car would have. So a used 2018 model looks $3k cheaper than an identical new 2019, but the 2019 has $4k on the hood, plus better financing, lower miles, and better legal protections (lemon law). Granted, "certified pre-owned" cars often come with better sounding warranties than new ones, but I'm sure there are some fine print details that make them worse than the factory one. Granted, the post-covid market is all kinds of skewed.
ghaff 4y ago
I bought a new car recently because of problems with my existing car. I didn't have a lot of negotiating leverage on the new vehicle but I was shocked by the tradein I was able to get on my existing car and was even able to negotiate it up by about $1K.

altdataseller 4y ago

Used cars are now just $3k USD more than new cars, on average. There should be absolutely no reason to buy a used car anymore. I feel like I'm living in a bizarro world b/c everyone seems to claim buying a used car is the much better financial decision. It isn't for me, by a long margin.

mywittyname 4y ago
There honestly hasn't been much reason to buy a new car since the GFC. It's really felt like new cars were subsidized because they were necessary to create used cars. With the last several cars I bought, or tried to buy, the negotiation ended up with the new car price being the same, or lower than 1-2 year old models with the same options. I feel like most used car buyers look at inflated MSRP and judge the "discount" for the used car based on that. They don't factor in the sometimes massive discounts (pre COVID, of course) that practically every new car would have. So a used 2018 model looks $3k cheaper than an identical new 2019, but the 2019 has $4k on the hood, plus better financing, lower miles, and better legal protections (lemon law). Granted, "certified pre-owned" cars often come with better sounding warranties than new ones, but I'm sure there are some fine print details that make them worse than the factory one. Granted, the post-covid market is all kinds of skewed.

ghaff 4y ago

I bought a new car recently because of problems with my existing car. I didn't have a lot of negotiating leverage on the new vehicle but I was shocked by the tradein I was able to get on my existing car and was even able to negotiate it up by about $1K.