Used Model Y prices starting to normalize - peak appears to have been July

[ZenRockGarden]

 

[ZenRockGarden]

Current prices down about 10% from peak ($70k vs $77k). Still seeing used prices at or near price of a new one

 

[ewkid]

I'd love to get a used one as I'm not planning to put a lot of miles on my next car. But I'm not paying new car price for a used car. Hopefully next year new ones will qualify for the full U.S. fed rebate and that should put another push down on used ones.

 

[Stach]

View attachment 864358

That's what I've been noticing as well, with my used Carvana estimates. What site is that graphic from as it looks like a great one for price tracking?

 

[tashtibet]

with interest climbing up -it's what gonna happen. Saw a 2021 MY white with only 6500 miles -with the FSD for 62K-got sold in 2 wks.

 

[voxel]

Current prices down about 10% from peak ($70k vs $77k). Still seeing used prices at or near price of a new one

FYI those are retail listing prices and honestly still too high as if you start digging into days on market you will see them sitting on lots for up to 120 days. Prices will continue to fall.

Blackbook and MMR show crappy trade in values. Even getting $60K for a base white MYLR would be a huge win in some states.

 

[ZenRockGarden]

That's what I've been noticing as well, with my used Carvana estimates. What site is that graphic from as it looks like a great one for price tracking?

CarGurus publishes the price-trend charts, and they have a pretty broad sample to work from.

You can't use it to price a specific car, but it works great to see the general market trends. And I agree that we've moved down from "absurd" to "just really high". Normal would still be further down, where new cars cost slightly more than used ones.

 

[ThomasD]

People are out of stimulus money. Tech companies are laying off people. Inflation is still too high. Interest rates are high and people are cutting back. Banks and financial intuitions are starting to suffering high repo rates. Now that the forbearance is over on rent and House payments. The Chickens are coming home to roost.

 

[BMWY]

For the hell of it, I submitted my 2022 MYP with 800 miles on it to Carvana and Vroom and received offers of 53 and 51k respectively. About a 20-25k delta from when I bought the car back in June.