Used vehicle prices are ridiculous!

[jlee]

Just for kicks, I checked out the website of the dealer where I bought my truck and I found this- http://www.autofind.com/dealer/details/689/5TBBT44175S464104/

That's pretty much exactly what I have, but I bought mine in May '08 with 36,xxx miles. Mine has a towing package and cold weather package, styled steel wheels (vs the alloys on this one), no extra body moldings and it had regular tires (vs the oversized offroad tires).

Keep in mind this was over 1.5 years ago and my truck had 10,000 less miles on it. I paid $15,995.

WTF?

 

[Andrew1990]

I dont mind these prices. When I sell my 95' camaro in fall, I will probably make money on it.

 

[jlee]

I don't mind either, because I don't plan on buying another vehicle for a long time...but I was really surprised to see a 25% increase in price on a truck that's now 1.5 years older than it was at the time - with 10,000 more miles, no less.

 

[Razgriz]

tell me about it. I'm in the market for a used car <$3k and people are selling early 90's toyotas and hondas for 2-3k or more with 150k+ miles. In fact, I've seen only a few cars with <100k miles at all. since when did high mileage become the norm?

 

[jlee]

tell me about it. I'm in the market for a used car <$3k and people are selling early 90's toyotas and hondas for 2-3k or more with 150k+ miles. In fact, I've seen only a few cars with <100k miles at all. since when did high mileage become the norm?

High mileage is the norm for anything 10+ years old. To find a 2000 vehicle with under 100k means less than 10k/yr.

I have noticed a few newer vehicles for sale with high mileage for their age, though...so I don't know.

 

[Razgriz]

High mileage is the norm for anything 10+ years old. To find a 2000 vehicle with under 100k means less than 10k/yr.

I have noticed a few newer vehicles for sale with high mileage for their age, though...so I don't know.

I actually meant newer, 2000 model year+ with high miles(130k+ mostly), hell even some late 90's with around 200k miles. im a noob when it comes to cars but i swore it wasn't nearly as prolific back in the day.

 

[thedarkwolf]

quit looking at hondas and toyotas.

I just scored a 95 mazda miata for $2k that is in pretty good shape other than needing a new top which I've already bought for $100. Miatas aree usually way over priced around here.

 

[yhelothar]

Yeah used vehicle prices are ridiculous!
This is proof
http://carscoop.blogspot.com/2009/11/customized-1988-bmw-6-series-coupe-with.html

/sarcasm

 

[jlee]

Nice ninja-edit. I could quote the old one, but I'll leave it.

So, you don't think that what I found was odd? Can you find an '06 Tundra, spec'd like that one - with 36,xxx miles, for $16k?

 

[TraumaRN]

No it's not odd, I've been trying to find the wife a used Ford Escape and holy big spending...My budget is 12K which gets me like a 04 Escape with 100K miles on...like serious WTF?!

With my Family's A-plan I could buy a NEW decently equipped Escape for 19-20K

 

[MotF Bane]

Thank you Cash for "Clunkers".

 

[GoatMonkey]

Are these cars actually selling at these prices, or are they just advertised at these prices? There is a big difference.

 

[JJ650]

Nice ninja-edit. I could quote the old one, but I'll leave it.

So, you don't think that what I found was odd? Can you find an '06 Tundra, spec'd like that one - with 36,xxx miles, for $16k?

Mine is an '06 with the X-SP package (leather, 20" Enkei rims, running boards, front skid plate and that's about it). I have 29k miles on it right now.

$24,820 retail
$22,070 private
$18,425 trade

The prices have gone up within the past year. Last year this priced out around $2k lower in all 3 categories.

 

[Chunkee]

tell me a about it...i finally found a reasonable dealership. i had to drive to KY to get a 2005 silverado ext cab z71 with 60xxx miles and some nice amenities for 14700...dealers around here were at 19 and 20 with no budging. Mine is a one owner. I guess i got lucky..trailer hitch was not even used...lol...i just had to put new tires on it and turn the rotors...had the oil changed and air filter..also...but yes..they are ridiculous.

 

[StageLeft]

You are obviously not respecting the brand. Didn't you know that Hondas and Toyotas are like a fine wine, they get better with age? If a new one cost $20k, for example, three years later with 36k it's absolutely reasonable for it to cost $19,500. It's a Toyota, it will live forever in our hearts and minds, God's gift to the automotive world, their longevity unsurpassed, their quality beyond question.

I just scored a 95 mazda miata for $2k that is in pretty good shape other than needing a new top which I've already bought for $100. Miatas aree usually way over priced around here.

That sounds good. Above I was being facetious about resale, but miata owners are real cock-suckers when it comes to selling their car it's like they think they have a ferrari on their hands, the used prices on them are just insane. Of course, if people are paying them I don't blame them. I'd like a miata as a summer car but they are too crazy. Your price seemed good if miles/condition were ok. Good thing about the older ones is that most people don't drive them in the winter and so no rust, also miles are fairly low.

Anyway, in reality cars last much longer and with less cost than what I believe the common opinion of them is. I don't know if the summer cash for clunkers effect is still in play or not. It was raising used car values a bit. 36k, though, is not scary on a car from a decent brand at all. My primary car now had that many when I bought it 7 years ago. If it would break down more I'd replace it, but it just isn't so I feel it would be money flushed.

 

[vi edit]

No it's not odd, I've been trying to find the wife a used Ford Escape and holy big spending...My budget is 12K which gets me like a 04 Escape with 100K miles on...like serious WTF?!

With my Family's A-plan I could buy a NEW decently equipped Escape for 19-20K

I got my wife into an '06 Equinox AWD with leather, heated seats, sunroof, XM and Onstar for $13k. It had 60k miles on it but was also GM certified for another year/12k for bumper to bumper warranty.

I thought that deal was pretty decent. I've seen several Equinoxes on lots for around that price. The recent remodel has really dropped the prices a lot on the previous ones. The Escape has only had a minor makeover since it was released. The prices just haven't dropped much on them.

 

[thedarkwolf]

That sounds good. Above I was being facetious about resale, but miata owners are real cock-suckers when it comes to selling their car it's like they think they have a ferrari on their hands, the used prices on them are just insane. Of course, if people are paying them I don't blame them. I'd like a miata as a summer car but they are too crazy. Your price seemed good if miles/condition were ok. Good thing about the older ones is that most people don't drive them in the winter and so no rust, also miles are fairly low.

The average starting price for a miata around here is $5k for 90-00 and it doesn't really seem to matter how many miles are on it. Its mainly the NA guys that are insane about their prices. You can buy a 94 with 77k miles for $7k or you can buy an 01 with 77k miles for $7k. Miatas are really bad about rusting on the rocker panel by the rear tire. I went and looks at a 94 on a huge mulitbrand car lot that had NO rocker panels left and the rear wheel wells were rusted out. They still wanted $4k for it when it was only good as a parts car. The guy I bought mine off of was hard up for cash and thought a top replacement would cost $1500 so I got a good deal. Found a guy selling a good top and frame for $100.

 

[Gibson486]

it's been this way for about a year....

Infact, some dude wanted to buy my used MAzda 3...after all was said and done, i would have walked away owing the same amount that I owed at that time if I bought a new Mazda 3. I decided no at the last minute though....as tempting as it was, i like my car too much.

 

[kornphlake]

Toyota trucks have been this way for a long time, especially in regions where trucks aren't used for work (So. Cal I'm looking at you.) I'm not sure who lost enough brain cells in the '70s to think that a used vehicle is worth more than the same vehicle new, but those people are out there. A co-worker sold his 95 Toyota pickup with several mechanical problems and over 200k miles for $2000 over his asking price, I wouldn't have given more than $1000 for the truck, but he sold it for over $5k. Favorable financing on new Toyotas has made the used prices even more absurd.

I wouldn't rate the entire used vehicle market based on Toyota trucks alone, they are more the exception than the rule.

 

[JeffreyLebowski]

Thank you Cash for "Clunkers".

Thank you inflation.

 

[BarneyFife]

Used car prices have gone up during the past year. Not even worth buying a 2-3 year old Toyota or Honda when a new one is a few k more. As always, the best used car bargains are on domestics and German luxury cars.

 

[DrGreen2007]

average yearly mileage is 10-15k for most folks....2000 vehicle, 9 yrs x 10k miles easily hits 100k

 

[ShawnD1]

Used car prices have gone up during the past year. Not even worth buying a 2-3 year old Toyota or Honda when a new one is a few k more. As always, the best used car bargains are on domestics and German luxury cars.

I was in the market for a new or used compact sedan last August. Since many of the cars I've seen start to become bottomless money pits around 200k miles (everything starts to wear out), I plotted a graph of used car prices vs new car prices in order to figure out where the best "value" is. It turned out the best value in my local area was to just buy a new car. When I expect the car to die at 200k miles, I was finding that the mileage proportionally went up faster than the price went down. For example, if a new car is $20,000 then I would often find used cars with >100k miles that cost more than $10,000.

It's starting to look like the used computer market. For 50&#37; more money you can buy a new product that is 100% better. There's always a great deal to be found in the classifieds, but the average used car is a blatant rip off.

As always, the best used car bargains are on domestics and German luxury cars.

When I see a car that is ridiculously cheap, I always wonder what's wrong with it. Dodge vehicles lose their value at an astounding rate and I can't help but think there's a reason for it. Why is this 5 year old Dodge Caravan only $2000? Does it even work? Why does an equivalent van from GM or Honda cost more than twice as much? There's probably a reason.

 

[GTaudiophile]

Yeah used vehicle prices are ridiculous!
This is proof
http://carscoop.blogspot.com/2009/11/customized-1988-bmw-6-series-coupe-with.html

/sarcasm

Beautiful!

 

[Gillbot]

I dont mind these prices. When I sell my 95' camaro in fall, I will probably make money on it.

Good luck with that, it's still a Camaro.