I would be surprised if we're at the bottom yet. Carvana (and others) going bankrupt are likely going to crater the used car market.Well folks this is the best time ever to buy a used Tesla. Prices have hit the bottom. You can get a Model Y for $35k now, based on complaints I’ve seen on trade-in values.
I cant see new car prices holding either. Between used car prices dropping hard, and the recession, the amount of buyers looking to get a $60K+ vehicle, at high interest rates, has to be shrinking quickly. The $3750/7500 folks were looking to save by holding out til 2023, has mostly been eaten up by the additional financing costs of the fed hikes; a 1% increase is roughly $2K in additional interest over a standard car loan period.
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