Used Prices Softening?

[diver110]

When I looked at used prices on the 2021/2022 (yoke models) in the past, they were essentially as much as buying new. Now it seems the used prices are softening a bit. Saw a 2021/yoke with about 10,000 miles for about $96,000 (I assume base model). That leaves the old trade off between cost and shorter warranty.

 

[aerodyne]

When I looked at used prices on the 2021/2022 (yoke models) in the past, they were essentially as much as buying new. Now it seems the used prices are softening a bit. Saw a 2021/yoke with about 10,000 miles for about $96,000 (I assume base model). That leaves the old trade off between cost and shorter warranty.

Yep...I think a lot of it is you can't get a good value on Edmunds or KBB for these cars.

Selling my '22 LR for 101k. No takers yet.

 

[ucmndd]

Yes, of course they are. I'd expect it to continue to decline at a pretty good clip. The main thing propping up used values was the unavailability or long wait for new inventory, and that's changing rapidly as supply chain issues resolve, demand softens, interest rates rise, etc etc.

 

[ThomasD]

Banks have a lot of repos. They are also starting to hit the market very slowly. Banks and financial institutions are trying to get top dollar at auction to recoup lost money.

 

[ThomasD]

 

[NewbyMaybe]

People will be giving away Tesla's when goes back to $1.

 

[aerodyne]

I

People will be giving away Tesla's when goes back to $1.

We could always keep them and part them out into homemade power walls when the warranty is over.

Carfax today says my 3 month old car is worth 20k less than last week, and 22k less than I paid for it.

Eff 'em. I don't need the money that bad.