4 ms·

Because they are buying new and financing it

JKCalhoun 1y ago
New car prices affect used car prices. I've been in the market for a used car for my daughter, and the prices on used are crazy as well.
- BobaFloutist 1y ago
  I mean what's a 10-year-old Prius in passable condition cost? It can't be that bad, surely?
  - bluefirebrand 1y ago
    https://www.edmunds.com/toyota/prius/2015/ https://www.edmunds.com/toyota/prius/2015/ 10 grand it seems? That's pretty rough, especially with that mileage
    - BobaFloutist 1y ago
      That's a little steep, but you gotta grade mileage on a curve -- if it's reasonably maintained, it'll keep trucking for a lot longer than that, it should be plenty for a starter car. I mean, I'm biased, since I drive a (very well maintained when I bought it, high mileage) 2007 Prius that I bought for ~7.5k...8, 9 years ago? and I'm still getting ~40mpg and it survived some pretty questionable maintenance and care on my part. 10 grand feels steep, but for a solid car that'll easily last another ten years with minimal maintenance, good fuel economy, I don't know that you can do much better these days, and it doesn't feel unreasonable.
      - bluefirebrand 1y ago
        > I don't know that you can do much better these days, and it doesn't feel unreasonable It's pretty unreasonable as a class of "starter car" though I can't imagine many teens working a min wage job for a summer and having a car afterwards if they cost like this
        BobaFloutist 1y ago
        Oh, sure, I was thinking of a car relatively comfortable parents could get a kid without overspending or spoiling too much, it's not super in reach for a kid working part time.
        bluefirebrand 1y ago
        Even expecting parents to buy the car for their kid is kinda weird to me really I had to get my own job and save to buy my own first car. It was 2k If it had been 10k it would have taken forever to afford on part time minimum wage My parents definitely did not have a spare 10k laying around to buy me a car. And if a family has more than one child, then what?
        BobaFloutist 1y ago
        Sure, totally. I was perhaps assuming a certain level of affluence from a HN commenter discussing buying a car for their daughter, but it's true that I described a heavily used premium economy car rather than the complete "at-least-it-starts" clunker that represents the actual bottom of the market.
bluefirebrand 1y ago
Well, the used car market has also been decimated Cash For Clunkers took a ton of used vehicles off the market Stricter environmental standards have also taken otherwise working cars off the market, by preventing used dealerships from selling them in general, and making it more difficult/more expensive to insure them The days of buying a used car for 2 grand are long gone
- shrubble 1y ago
  Also many used cars end up in eg Guatemala where the lower cost of labor means that fixing cars is cheaper.
- potato3732842 1y ago
  Cash for Clunkers was important not because of the volume of cars it took off the market but because price points are sticky. Before C4C garbage cars that ran but probably needed something were "I want it gone, $500". After C4C the same vehicles sold at the C4C price and the price point has more or less stuck. It completely turned the beater car market upside down.

New car prices affect used car prices. I've been in the market for a used car for my daughter, and the prices on used are crazy as well.

BobaFloutist 1y ago
I mean what's a 10-year-old Prius in passable condition cost? It can't be that bad, surely?
- bluefirebrand 1y ago
  https://www.edmunds.com/toyota/prius/2015/ https://www.edmunds.com/toyota/prius/2015/ 10 grand it seems? That's pretty rough, especially with that mileage
  - BobaFloutist 1y ago
    That's a little steep, but you gotta grade mileage on a curve -- if it's reasonably maintained, it'll keep trucking for a lot longer than that, it should be plenty for a starter car. I mean, I'm biased, since I drive a (very well maintained when I bought it, high mileage) 2007 Prius that I bought for ~7.5k...8, 9 years ago? and I'm still getting ~40mpg and it survived some pretty questionable maintenance and care on my part. 10 grand feels steep, but for a solid car that'll easily last another ten years with minimal maintenance, good fuel economy, I don't know that you can do much better these days, and it doesn't feel unreasonable.
    - bluefirebrand 1y ago
      > I don't know that you can do much better these days, and it doesn't feel unreasonable It's pretty unreasonable as a class of "starter car" though I can't imagine many teens working a min wage job for a summer and having a car afterwards if they cost like this
      - BobaFloutist 1y ago
        Oh, sure, I was thinking of a car relatively comfortable parents could get a kid without overspending or spoiling too much, it's not super in reach for a kid working part time.
        bluefirebrand 1y ago
        Even expecting parents to buy the car for their kid is kinda weird to me really I had to get my own job and save to buy my own first car. It was 2k If it had been 10k it would have taken forever to afford on part time minimum wage My parents definitely did not have a spare 10k laying around to buy me a car. And if a family has more than one child, then what?
        BobaFloutist 1y ago
        Sure, totally. I was perhaps assuming a certain level of affluence from a HN commenter discussing buying a car for their daughter, but it's true that I described a heavily used premium economy car rather than the complete "at-least-it-starts" clunker that represents the actual bottom of the market.

bluefirebrand 1y ago

Well, the used car market has also been decimated Cash For Clunkers took a ton of used vehicles off the market Stricter environmental standards have also taken otherwise working cars off the market, by preventing used dealerships from selling them in general, and making it more difficult/more expensive to insure them The days of buying a used car for 2 grand are long gone

shrubble 1y ago
Also many used cars end up in eg Guatemala where the lower cost of labor means that fixing cars is cheaper.
potato3732842 1y ago
Cash for Clunkers was important not because of the volume of cars it took off the market but because price points are sticky. Before C4C garbage cars that ran but probably needed something were "I want it gone, $500". After C4C the same vehicles sold at the C4C price and the price point has more or less stuck. It completely turned the beater car market upside down.