Anyone have a decent eye for the used car market and pricing?

[bbbradley]

I looked at a car this AM that is close to exactly what I want, but I feel it's overpriced (not to mention the usual dealer BS of add-ons that "are mandatory").

Looking for what people use today to get an idea of a fair price for a car. Glad to share details on the car in question in a PM...so long as if you buy it out from under neath me I get to drive it on occasion.

 

[Snowfan]

Former dealer and neighbor is a massive wholesaler. Used prices coming down finally. Offer 10% less than asked and you should nail it. No "extras" the finance guy try's to sell. Leave offer and wait....they will counteroffer. Gotta be strong at dealership. Walk away and keep looking if they dis you. Check next week

 

[Matt Merritt]

I use Manheim Market Report, a dealer-only service that tracks all vehicles sold at that mega-auction's many sales. PM me as much detail as you can and I'll run it for you.

 

[PinnacleJim]

Autotrader.com will give you a good idea of ASKING prices in your area for the make and model of interest.

 

[Decreed_It]

For you experienced folks here in the thread, thank you, and how accurate are KBB and Edmunds these days? Good to hear market is starting to revert to 'normal'. Bike market is doing similar it seems.

 

[François Pugh]

Autotrader.com will give you a good idea of ASKING prices in your area for the make and model of interest.

Autotrader.ca has the thing called how much is my car worth. Plug in details and get values for trade in or private sale.

 

[bbbradley]

I plugged in the details on Carvana, as they seem to over pay for everything...it was 20% below asking price.

 

[Matt Merritt]

Offer 10% less than asked and you should nail it. No "extras" the finance guy try's to sell. Leave offer and wait....they will counteroffer. Gotta be strong at dealership. Walk away and keep looking if they dis you. Check next week

On the other hand, if it's exactly what you want and you really, really want it that extra $2-3K you might not want to spend amortized over years of proud ownership and admiring looks at traffic lights... Buy the car.

 

[bbbradley]

On the other hand, if it's exactly what you want and you really, really want it that extra $2-3K you might not want to spend amortized over years of proud ownership and admiring looks at traffic lights... Buy the car.

It is not 100%, but it's close enough that I could make the sacrifice.

 

[Snowfan]

For you experienced folks here in the thread, thank you, and how accurate are KBB and Edmunds these days? Good to hear market is starting to revert to 'normal'. Bike market is doing similar it seems.

KBB, NADA and Edmunds are roughly 60 days behind market. They each have regional price books. Prices are coming down now but the future is bleak....may go back up...or not.

 

[doc]

Another data point, on the high side: was at the local Porsche dealership last week window shopping and dreaming. They had two 2022 GT3s on the showroom floor and one 2016 GT3RS. Asked the salesperson about pricing and he said each of the '22s had an MSRP of $230k (not sure how he got there since MSRP on base GT3 before options is $161k), but they were asking $300k for each.
And, they wanted $230k for the '16 GT3RS (don't know how many miles were on it, but it was pristine).

 

[Uncle-A]

KBB, NADA and Edmunds are roughly 60 days behind market. They each have regional price books. Prices are coming down now but the future is bleak....may go back up...or not.

I have stopped using KBB and Edmunds, the NADA.com is the one I still use. They seem to be the most accurate, but I have not been in the market for over one year. If the pricing is starting to normalize that is good news. I think my daughter is going to be in the market for a different vehicle.

 

[bbbradley]

While the phrase, "you can't drive a house to the grocery store, you can sleep in your car" rings true, 6-digit priced cars are not on my list at this time.

 

[Philpug]

On the other hand, if it's exactly what you want and you really, really want it that extra $2-3K you might not want to spend amortized over years of proud ownership and admiring looks at traffic lights... Buy the car.

If you find something that checks 8 out of 10 of your boxes, grab it because you never know when the next one comes up. We were fortunate with our used Yukon, is it hit every box we needed checked but we had to travel cross country to get it. So, I agree with @Matt Merritt, if its' pretty much what you want, you have to figure what your time and effort is worth if you pass on it and when another might come down the road.

 

[djetok]

Former dealer and neighbor is a massive wholesaler. Used prices coming down finally. Offer 10% less than asked and you should nail it. No "extras" the finance guy try's to sell. Leave offer and wait....they will counteroffer. Gotta be strong at dealership. Walk away and keep looking if they dis you. Check next week

I know a lot of dealers here in Oklahoma. Most, if not all are holding true to their pricing, while trying to steal trades compared to what the market is now. I asked when they would start looking at writing some down. He said before I write anything down, I better have an excessive number of trades on the lot that are not selling because of price. They are currently selling everything that they have.

 

[bbbradley]

If you find something that checks 8 out of 10 of your boxes, grab it because you never know when the next one comes up. We were fortunate with our used Yukon, is it hit every box we needed checked but we had to travel cross country to get it. So, I agree with @Matt Merritt, if its' pretty much what you want, you have to figure what your time and effort is worth if you pass on it and when another might come down the road.

The wrench on the works that appeared this AM...a certain member of my household declared "red interiors are ghetto..."

 

[Philpug]

The wrench on the works that appeared this AM...a certain member of my household declared "red interiors are ghetto..."

Hardly. they are awesome!!!

 

[Bad Bob]

If inventories are lower, prices are going to be high. If you look at the car lots and the cars aren't filling the dealership it will cost you. The lots are pretty bare in these parts.

Sometimes supply and demand economics really sucks.

 

[Muleski]

Neighbor just took delivery of their latest Lexus RX. Sport package, graphite with red leather.

Absolutely “Not Ghetto.” Nor is my brother’s RS6 Avant. My favorite interior color.

And, yeah........this car market sucks. No fun. Stand in line, wait, pay through the nose. Used is no bargain at all.

It takes work, knowing what you want and where to find it to avoid getting hosed in this used car market. Our son has just acquired a diesel, possibly to flip, from a seller panicked over fuel prices. He jumped on the deal. I think you have be ready to pounce. We’re nosing around a diesel private sale right now. Seller had never anticipated these fuel costs. Back in the office with a long commute. Perfect Storm......for us?

Strange times.

 

[François Pugh]

Strange days indeed when folks who think they can afford $100k cars don't think they can afford to feed them.