• Sign Up! To view all forums and unlock additional cool features

    Welcome to the #1 Dodge, Jeep and RAM Forum dedicated to FCA owners and enthusiasts. Register for an account, it's free and it's easy, so don't hesitate to join the SRT Forum today!


Selling Your Used Car? You Could Turn a Profit.

ChargerChallenger

Poster Club Hall of Fame
Founding Member
HFCOTM
Member ID
#964
Messages
12,869
Reactions
47,792
Likes
402
City
Mopar Nation
State
MD
Country
United States
Vehicle
19 Challenger Hellcat Redeye 19 Charger Hellcat
#1
Wonder how much longer the used market Frenzy lasts???? My guess is at least till the end of the year and may then see some change 1st 2nd qtr next year when supply chain Stabilizes. But at the same time really befuddling being people are not driving as much due to Covid. Many many businesses are going to remote working options for good. Interesting times here and yes your used vehicle is worth good money but damn you will have sticker shock on a new car. Summing it up if your just cashing out great but if your selling to buy new I think its a WASH.


Normally a depreciating asset, some used cars are worth more now than they were new; ‘it just seems like we’re in fantasyland’
Chevy Silverado owner Franko Dokaj stopped by his dealership recently expecting to buy new floor mats. Instead, he walked away with a killer deal: The store offered to buy his one-year-old truck for $3,000 more than what he originally paid for it last spring.

“I was like ‘holy cow’,” said Mr. Dokaj, who uses the truck for his car-detailing business. “This is something that I’ve never seen happen.”

The recent jump in used-vehicle pricing is the latest in what has been a topsy-turvy year for the U.S. car business. Consumer demand for cars and trucks is near all-time highs, but car companies are struggling to keep up, slammed by a global computer-chip shortage that is curtailing factory production on the new-car side.
As a result, buyers unable to find what they want in showrooms are flocking to the used-car lot, where inventory is also being constrained by fewer people turning in leased vehicles and rental-car firms holding on to vehicle fleets longer because they are unable to find replacements.
Prices for used cars and trucks leapt again, by 10.5%, in June, according to the Labor Department, contributing to an overall rise in the consumer-price index and further stoking fears of U.S. inflation.

“We have a long way to go before prices come down,” said Tyson Jominy, an auto analyst with research firm J.D. Power.
 




Top