4 ms·

If they are out of touch, then the cars aren't selling, right? Because if they are selling for that price, then by definition you are out of touch and the sell

If they are out of touch, then the cars aren't selling, right? Because if they are selling for that price, then by definition you are out of touch and the sellers know what the market will bear.

the__alchemist 1y ago
Have you bought or sold used recently? You can find a fair price, but it's a big time commitment, and stressful.
- brokencode 1y ago
  Plenty of people must find this worthwhile, otherwise sellers wouldn’t be able to find buyers and they’d be forced to reduce price if they want to sell. Plus, the listed price is often aspirational. Savvy buyers will typically negotiate the price down. I have to admit that I’m not a savvy buyer and always buy new though. But I know people who do this very successfully.
- Marsymars 1y ago
  I felt like my new factory order car buy recently was a big time commitment and stressful to get a fair price.
- fluoridation 1y ago
  That's how it goes in my experience with the used market, for anything, really. People go online, browse around the listings to get a feel of the prices, and post a price based on that. That's a mistake. The prices that are easy to find and most common are for the items that aren't moving. When someone finally posts an item at a price that buyers are willing to pay it usually gets sold in a few days, if it's something in demand. I've only ever found good deals on used stuff by pure chance or by watching the market over weeks. It takes both patience and decisiveness, otherwise someone else swoops in before you.
  - rootusrootus 1y ago
    All of this is just a way of saying that the market does not agree with someone's personal opinion on value. "That's a mistake" sounds right but if the market is willing to pay, then was it really a mistake? > I've only ever found good deals on used stuff by pure chance or by watching the market over weeks. It takes both patience and decisiveness, otherwise someone else swoops in before you. That sounds like it is exactly how things are supposed to work. If the average price were a good deal, it would by definition not be a good deal. It should take some work or some waiting, if you want that price.
    - fluoridation 1y ago
      >"That's a mistake" sounds right but if the market is willing to pay, then was it really a mistake? But it's not willing to pay. That's my point. That's why those postings sit unsold. >If the average price were a good deal, it would by definition not be a good deal. Let me clarify: I mean "good deal" in comparison to just buying new. Take headphones, which is something I've bought used a few times. I found a pair of SHP9500s for like 20% of the price of new ones; they had some visible wear, but they weren't broken and they sounded perfect. That's what I'd call an excellent deal. Another time I found a pair of HE400ses for 60-70% of the price of new, and they looked mint. That's a good deal and how the used market should work. The buyer pays a little less with the risk that the item might have some latent defect that's building up, and the seller gets to recoup some of his money. A bad deal is paying 90% for that same risk and uncertainty, which is what I see most often. Yeah, maybe the product is even verifiably in good condition, but at that point the difference is so small that why would someone even bother?
Auracle 1y ago
My friend told me that his in-laws absolutely refuse to buy a new car, as their whole lives they’ve been told it’s an awful deal. Instead, they’ll get something a couple of years old and save maybe a few thousand dollars on a $40,000 vehicle. It drives him batty. So, I’d say there’s a potential the used buyers are the ones out of touch, and that people like those in-laws probably aren’t buying EVs.
- mixmastamyk 1y ago
  There was a big change in the used market after Covid, that may not have fully worked itself out yet.
- BeetleB 1y ago
  > Instead, they’ll get something a couple of years old and save maybe a few thousand dollars on a $40,000 vehicle. A used 2 year old Ioniq 5 is selling for about $15-20K less than MSRP. Some years ago, a friend bought a 2 year old Forester - for a full $10K less than MSRP. It's not a "few thousand dollars". (Oh, and personally, if you buy a 2 year old car - you're paying way too much. 6-8 year old cars are a good value).
  - potato3732842 1y ago
    >It's not a "few thousand dollars". It is if you're buying a 4Runner or top of the line diesel pickup or some other meme car that people buy because of how great the internet says it is. But in the general case I agree with you.
  - bhelkey 1y ago
    >> people like those in-laws probably aren’t buying EVs. > A used 2 year old Ioniq 5 is selling for about $15-20K less than MSRP...It's not a "few thousand dollars". The Ioniq 5 is an electric vehicle. The whole point of this article is that EVs depreciate significantly faster than Internal Combustion Engine vehicles. A brand new ICE vehicle depreciates quickly but not to the point of losing 50% in 2 years. >6-8 year old cars are a good value Agree.

If they are out of touch, then the cars aren't selling, right? Because if they are selling for that price, then by definition you are out of touch and the sellers know what the market will bear.

the__alchemist 1y ago

Have you bought or sold used recently? You can find a fair price, but it's a big time commitment, and stressful.

brokencode 1y ago
Plenty of people must find this worthwhile, otherwise sellers wouldn’t be able to find buyers and they’d be forced to reduce price if they want to sell. Plus, the listed price is often aspirational. Savvy buyers will typically negotiate the price down. I have to admit that I’m not a savvy buyer and always buy new though. But I know people who do this very successfully.
Marsymars 1y ago
I felt like my new factory order car buy recently was a big time commitment and stressful to get a fair price.
fluoridation 1y ago
That's how it goes in my experience with the used market, for anything, really. People go online, browse around the listings to get a feel of the prices, and post a price based on that. That's a mistake. The prices that are easy to find and most common are for the items that aren't moving. When someone finally posts an item at a price that buyers are willing to pay it usually gets sold in a few days, if it's something in demand. I've only ever found good deals on used stuff by pure chance or by watching the market over weeks. It takes both patience and decisiveness, otherwise someone else swoops in before you.
- rootusrootus 1y ago
  All of this is just a way of saying that the market does not agree with someone's personal opinion on value. "That's a mistake" sounds right but if the market is willing to pay, then was it really a mistake? > I've only ever found good deals on used stuff by pure chance or by watching the market over weeks. It takes both patience and decisiveness, otherwise someone else swoops in before you. That sounds like it is exactly how things are supposed to work. If the average price were a good deal, it would by definition not be a good deal. It should take some work or some waiting, if you want that price.
  - fluoridation 1y ago
    >"That's a mistake" sounds right but if the market is willing to pay, then was it really a mistake? But it's not willing to pay. That's my point. That's why those postings sit unsold. >If the average price were a good deal, it would by definition not be a good deal. Let me clarify: I mean "good deal" in comparison to just buying new. Take headphones, which is something I've bought used a few times. I found a pair of SHP9500s for like 20% of the price of new ones; they had some visible wear, but they weren't broken and they sounded perfect. That's what I'd call an excellent deal. Another time I found a pair of HE400ses for 60-70% of the price of new, and they looked mint. That's a good deal and how the used market should work. The buyer pays a little less with the risk that the item might have some latent defect that's building up, and the seller gets to recoup some of his money. A bad deal is paying 90% for that same risk and uncertainty, which is what I see most often. Yeah, maybe the product is even verifiably in good condition, but at that point the difference is so small that why would someone even bother?

Auracle 1y ago

My friend told me that his in-laws absolutely refuse to buy a new car, as their whole lives they’ve been told it’s an awful deal. Instead, they’ll get something a couple of years old and save maybe a few thousand dollars on a $40,000 vehicle. It drives him batty. So, I’d say there’s a potential the used buyers are the ones out of touch, and that people like those in-laws probably aren’t buying EVs.

mixmastamyk 1y ago
There was a big change in the used market after Covid, that may not have fully worked itself out yet.
BeetleB 1y ago
> Instead, they’ll get something a couple of years old and save maybe a few thousand dollars on a $40,000 vehicle. A used 2 year old Ioniq 5 is selling for about $15-20K less than MSRP. Some years ago, a friend bought a 2 year old Forester - for a full $10K less than MSRP. It's not a "few thousand dollars". (Oh, and personally, if you buy a 2 year old car - you're paying way too much. 6-8 year old cars are a good value).
- potato3732842 1y ago
  >It's not a "few thousand dollars". It is if you're buying a 4Runner or top of the line diesel pickup or some other meme car that people buy because of how great the internet says it is. But in the general case I agree with you.
- bhelkey 1y ago
  >> people like those in-laws probably aren’t buying EVs. > A used 2 year old Ioniq 5 is selling for about $15-20K less than MSRP...It's not a "few thousand dollars". The Ioniq 5 is an electric vehicle. The whole point of this article is that EVs depreciate significantly faster than Internal Combustion Engine vehicles. A brand new ICE vehicle depreciates quickly but not to the point of losing 50% in 2 years. >6-8 year old cars are a good value Agree.