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Y'know, it's kind of amazing what's happened to the used car market in the past few years. A few years ago when I was shopping for cars, truly awful vehicles t
by bunderbunder 12y ago
Y'know, it's kind of amazing what's happened to the used car market in the past few years. A few years ago when I was shopping for cars, truly awful vehicles that I would have considered to be prime candidates for cubing were being sold for far more than they were worth. I'm not sure what it is, but my best guess is that the Cash for Clunkers program sucked a lot of supply out of the market.
- sk5t 12y agoI think you've got it half-right: because of Cash for Clunkers, tightened lending standards, etc., used supply is down, while demand is slightly up, and the market is now much firmer than it used to be, with less of a discount compared to buying or leasing new. At least that seems to be the case for cars in the "basic utilitarian transportation" and "entry luxury" categories.