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Used Car Prices Keep Getting More Shocking

oddspyke

Autocross Champion
Sure I do, it's where you claim that I'm arguing that everything was Bush's, Obama's, Trump's fault. I've never said that or argued that. That's literally a strawman.
No, this is literally a strawman:
strawman.jpg


Yes, I realize I'm responding to a week old post. I'll see myself out...
 
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sandmangti

Autocross Newbie
Think twice about selling if you then need to buy a car. My Chevy dealer only has 4 new cars on lot. Rest are certified. There is a reason used prices going up, new cars are limited.
 

Jack Adebayor

New member
Think twice about selling if you then need to buy a car. My Chevy dealer only has 4 new cars on lot. Rest are certified. There is a reason used prices going up, new cars are limited. Here https://carplus.co.uk/calculator/ is a chance to solve the problem.
Right you are (y) Since last year I have wanted to change my current car for something else but the prices for used cars are so to say sobering. I don't even dream of getting a new one :unsure:
 
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Chogokin

Autocross Champion
There is a Mk8 GTI at my local VW dealer. The MSRP is 41k...then the dealer marked it up another 5k. Lol...you're looking at close to 50k for a GTI.
 

jimlloyd40

Autocross Champion
There is a Mk8 GTI at my local VW dealer. The MSRP is 41k...then the dealer marked it up another 5k. Lol...you're looking at close to 50k for a GTI.
If people just don't buy them the prices will come down. You've got anxious buyers willing to pay the price and will be way upside down when the chip shortage is over and will take a huge loss in value and trade in price.
 

oddspyke

Autocross Champion
If people just don't buy them the prices will come down. You've got anxious buyers willing to pay the price and will be way upside down when the chip shortage is over and will take a huge loss in value and trade in price.
That's not as easy as it sounds. People's cars get totaled, break down beyond repair, etc. too.
 

jimlloyd40

Autocross Champion
That's not as easy as it sounds. People's cars get totaled, break down beyond repair, etc. too.
Feel particularly sorry for those people unless they have gap insurance for the accidents. If under warranty I'm not sure how that would be handled cost wise. But no gap insurance would be an expensive problem.
 

GTIfan99

Autocross Champion
Feel particularly sorry for those people unless they have gap insurance for the accidents. If under warranty I'm not sure how that would be handled cost wise. But no gap insurance would be an expensive problem.

I'm wondering how much of an issue that is when used cars are selling for new car prices, as long as you're insured for replacement value.
 

jimlloyd40

Autocross Champion
I'm wondering how much of an issue that is when used cars are selling for new car prices, as long as you're insured for replacement value.
How many people actually buy gap insurance? I never did and got lucky that I didn't need it.
 

jimlloyd40

Autocross Champion
I'm wondering how much of an issue that is when used cars are selling for new car prices, as long as you're insured for replacement value.
The problem for me was replacement value was always so low because of the high mileage I drove.
 

Chogokin

Autocross Champion
If people just don't buy them the prices will come down. You've got anxious buyers willing to pay the price and will be way upside down when the chip shortage is over and will take a huge loss in value and trade in price.

I came across someone on Reddit that paid 53k for a GTI. You are married to that car for life paying that price. These are the guys that make six payments and then realize that they can't afford the car...then try to sell.

You can find a mildly used 3.0 Supra for that price.
 

GTIfan99

Autocross Champion
The problem for me was replacement value was always so low because of the high mileage I drove.

Yeah, high mileage adds another variable, no doubt.
 

jay745

What Would Glenn Danzig Do
I work in the auto insurance claims industry, most insurance policies will pay you the acv of the car which the market dictates. Now is a terrible time to get in an accident, hope they total it if you do because the collision repair industry is jacked right now. Most shops are booked out 6 weeks at least because of the global parts shortages. Insurers mostly have 30 day max on rental, so your rental gets termed before you can even have repairs started in the event it's not driveable
 
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