As many of you know, I really really like a good deal. I'm not very price sensitive buy just like feeling that I'm not being stupid.
As I need a new car to replace my beloved manual transmission wagon that went swimming, I'm trying to pull the trigger on something but can't because I believe used car prices are going to tank very soon.
But how much? I know this is hard to say for all used cars but as supply increases rapidly this year and the economy cools, I can't see any other outcome but a major reset in prices.
Do you guys predict a 20% drop across the board? If so, when will it hit? A 10% drop? When and for how long?
If I buy a 90k used range rover and sell it in 2 years for 50k while having a 30k repair bill during that time I am going to feel like a real sucker..
But if I get a 70k mercedes and resell it in a few years for 50k then I'll feel pretty decent.
I'd feel like a champion if I get a 15k car for 3 months and then prices drop 20% and I get that Mercedes for 56k and sell it for 50 in a few years.
What does your crystal ball tell you?
As I need a new car to replace my beloved manual transmission wagon that went swimming, I'm trying to pull the trigger on something but can't because I believe used car prices are going to tank very soon.
But how much? I know this is hard to say for all used cars but as supply increases rapidly this year and the economy cools, I can't see any other outcome but a major reset in prices.
Do you guys predict a 20% drop across the board? If so, when will it hit? A 10% drop? When and for how long?
If I buy a 90k used range rover and sell it in 2 years for 50k while having a 30k repair bill during that time I am going to feel like a real sucker..
But if I get a 70k mercedes and resell it in a few years for 50k then I'll feel pretty decent.
I'd feel like a champion if I get a 15k car for 3 months and then prices drop 20% and I get that Mercedes for 56k and sell it for 50 in a few years.
What does your crystal ball tell you?