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

[cantunamunch]

Sometimes supply and demand economics really sucks.

I will be interesting if Bitcoin memes like HODL come over to car stocks

 

[Muleski]

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

This started with a casual conversation. Friends of friends. Five kids 10 to 18. Can’t image food costs. Big, older home. Oil fired furnace, etc., about to be replaced with gas. Big project. Not much fun when they were getting at times two deliveries a week at recent prices. My sense is that they earn a lot, now bleed a lot. He said he was about to buy a hybrid, and should have. Bought this diesel wagon instead. Car is small for them, too. I get it. Some may be hearing about “Your stupid car” too much........If it turns to “I need it gone, now”.......we’ll see. We do not need it.

I think there is some diesel buyer’s remorse out there. Odd.

 

[Matt Merritt]

It's so weird out there. New Ford F-150 Electrics are fetching better than $100K over MSRP, flippers are trying to sell their Hummer Electrics for three times their $111K window... Meanwhile, I'm still having a hard time accepting that an electric car can be anyone's only vehicle.

 

[Philpug]

Meanwhile, I'm still having a hard time accepting that an electric car can be anyone's only vehicle.

A lot depends on location and usage.

 

[François Pugh]

Muscle cars and high performance cars seem to be doing just fine though.

 

[ScotsSkier]

This started with a casual conversation. Friends of friends. Five kids 10 to 18. Can’t image food costs. Big, older home. Oil fired furnace, etc., about to be replaced with gas. Big project. Not much fun when they were getting at times two deliveries a week at recent prices. My sense is that they earn a lot, now bleed a lot. He said he was about to buy a hybrid, and should have. Bought this diesel wagon instead. Car is small for them, too. I get it. Some may be hearing about “Your stupid car” too much........If it turns to “I need it gone, now”.......we’ll see. We do not need it.

I think there is some diesel buyer’s remorse out there. Odd.

not sure why the remorse, even though diesel here is running about $0.60 - 0.80/gallon more than regular (and the gap seems to be closing again) I still see about 35% better mileage on my diesel F150 than i ever did on my eco boost ones...

 

[cantunamunch]

diesel here is running about $0.60 - 0.80/gallon more than regular

You know, I often wonder about whether diesel is more or less affected than gasoline by local-market artificial scarcity (by a refiner deciding to export a given batch, say).

 

[Uncle-A]

You know, I often wonder about whether diesel is more or less affected than gasoline by local-market artificial scarcity (by a refiner deciding to export a given batch, say).

I remember several years ago that diesel was cheaper than regular gas. Not sure why it got higher than regular gas but I am sure the truckers are not happy.

 

[Muleski]

not sure why the remorse, even though diesel here is running about $0.60 - 0.80/gallon more than regular (and the gap seems to be closing again) I still see about 35% better mileage on my diesel F150 than i ever did on my eco boost ones...

I’m not suggesting for a minute that it’s logical. The price delta here is close to $2/gallon. It would not make me jumpy, but it has people worked up. I know people with $1Mil boats sitting idle and unused right now. Makes NO sense to me. None. But, it’s going on!

Yes, I have seen some irrational private sellers. And our son has jumped twice, but not fast enough. Dealers buying both. I have seen NO irrational truck sales.

The car we are talking about is a BMW diesel wagon. I’m the top of the list. If he wants to unload it….he’ll call me first. We have two BMW wagons. This would work well.

If this guy is irrational, that’s his problem, and my opportunity. And I sense a young pushy wife arguing that she wanted a bigger car for him all along. He seems to miss that he gets 35+ mpg. Perhaps due to his onerous commute.

I think he’s perhaps buying a relative’s car as it comes off lease. Not sure what, but a bigger hybrid. I think she wants it replaced with big high end SUV…. Hybrid.

A lot of things in life perplex me. This guy dumping this car might get added to the list. We. Shall. See. If he’s not irrational, we’re not buying.

 

[Tom K.]

It's so weird out there. New Ford F-150 Electrics are fetching better than $100K over MSRP, flippers are trying to sell their Hummer Electrics for three times their $111K window...

If this is true -- and you certainly seem to know this biz -- there are even more dipsticks out there than I thought.

Talk about getting killed on trade in or resale down the road.....

 

[Snowfan]

If this is true -- and you certainly seem to know this biz -- there are even more dipsticks out there than I thought.

Talk about getting killed on trade in or resale down the road.....

After a few clicks I found F150 Lightnings in transit priced OKish....but the Hummers are running a bit rich at the moment.

 

[cantunamunch]

I know people with $1Mil boats sitting idle and unused right now. Makes NO sense to me. None. But, it’s going on!

LOL, that totally reminds me of @Pierre, eh and his Something Puffin trawler that would easily cross the Caribbean to Venezuela for cheap refuels.

 

[djetok]

I remember several years ago that diesel was cheaper than regular gas. Not sure why it got higher than regular gas but I am sure the truckers are not happy.

2008 epa started tier 4 . Basically made all new diesel trucks to start getting DEF systems and Ultra low sulphur diesel. Diesel used to be a mix of leftovers so to speak. Tier 4 made the refineries refine the sulphur and other items. So not only do we get the jump in fuel costs, we get to pay for the extra cost of urea.

 

[Uncle-A]

2008 epa started tire 4 . Basically made all new diesel trucks to start getting DEF systems and Ultra low sulphur diesel. Diesel used to be a mix of leftovers so to speak. Tier 4 made the refineries refine the sulphur and other items. So not only do we get the jump in fuel costs, we get to pay for the extra cost of urea.

Thanks, I forgot about the change to the diesel engines, and the low sulfur fuel.

 

[Muleski]

LOL, that totally reminds me of @Pierre, eh and his Something Puffin trawler that would easily cross the Caribbean to Venezuela for cheap refuels.

In the case of this boat, it’s more like a $3Mil boat. The owner of the yard where it is stored and maintained is a good friend. The yacht owner spends a fortune on the boat, and employs a full time captain to take care of it.

So my friend says that this past winter they replaced the propellors and drive shafts. That was almost $100K. Replaced and upgraded $35K of electronics. The bill for varnish and bottom paint was $50K. Let
alone the yard bills…..

And the owner is hesitant to use her as much because his fuel costs are that much higher? It’s a tiny fraction of his program.

As I have said, some of this is nuts, and so are many people. Just crazy.

Probably is looking for a e-Hummer!

 

[cantunamunch]

And the owner is hesitant to use her as much because his fuel costs are that much higher? It’s a tiny fraction of his program.

As I have said, some of this is nuts, and so are many people. Just crazy.

If I squint *REALLY* hard I can sort of see a logic behind that - the boat is lovely and he enjoys owning it but actually taking it out on the water is only a marginal pleasure over the bare fact/ lifestyle of ownership. It's that margin that's not worth the current fuel cost. He/they do(es)n't want to be fussed especially if it's basically a party boat where getting the right mix of people for a maximally fun time is a chore in itself.

I mean, I don't subsribe to it but I can sort of see it. Squinting that hard gives me headaches tho.

 

[bbbradley]

Boat- A hole in the water where you throw money.

 

[AlpsSkidad]

Boat- A hole in the water where you throw money.

Break
Out
Another
Thousand

 

[Living Proof]

After browsing this thread, I did some quick checking on used prices of a 2018 CRV and a 2016 Acura TLX we bought 4 and 3 years ago. They are selling for very close to what we paid. It's a whole different game today, glad we invested wisely in solid models. Have not spent a dime on either other than very basic maintenance and new tires.

 

[cantunamunch]

After browsing this thread, I did some quick checking on used prices of a 2018 CRV and a 2016 Acura TLX we bought 4 and 3 years ago. They are selling for very close to what we paid. It's a whole different game today, glad we invested wisely in solid models. Have not spent a dime on either other than very basic maintenance and new tires.

HODL