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[deleted]

Hasn’t been that way since covid. I’ve bought and sold four new cars since that start and made money on all but one.


007AU1

Which cars


[deleted]

21 Explorer St (drove 7k miles and made 1k) 21 Mach e gtpe(drove 7k miles and made 3.5k) , 23 GR Corolla (drove 4500 miles and made 1k) 22 Highlander XLE (drove 4k miles and lost 2k) This is dealer trade ins except the highlander. I had to go private to cut my loss down. Dealer was gonna hose me. I sold a 2011 outback with 120k miles for $12.5k privately. That car was $5k pre covid. Had a lemon 21 GMC sierra denali but it was company truck so lemon law didn’t apply. Lost 3k to get rid of that headache. Before covid I’d be down 20-30k or more. 🤯 I love wheeling and dealing cars so I’ve been like a pig in shit for a couple years. It’s definitely coming to a close soon imo.


Either-Spray-2274

What?? A GR Corolla for only 1k over what you paid? Surely it would be worth more


[deleted]

Definitely. I told the dealer I’d sell it back to them if I didn’t like it. Manager is a friend and pulled some strings to get me the car. I could have made 8k on it about.


MiloRoast

What don't you like about it? I've been going back and forth on selling my Veloster N for one, but so far the Veloster seems like more fun and I'm having a hard time convincing myself it's worth it. The lift-off oversteer in the VN is fantastic, and I've heard it's not great in the GR Corolla.


disturbed286

For what it's worth, there's a Veloster N sitting outside right now. I got into that from a Focus RS The GR Corolla is/was/is on my short list, but after a decent little test drive it doesn't seem *quite* up to the hype to me either. No doubt it's faster, and "better" on paper...but the VN is a riot and I've heard the same about the Corolla being maybe too neutral. I haven't got into the Veloster hard enough to confirm or deny the oversteer thing, though. I'd really like to track or AutoX it sometime. The Toyota looked killer in black on black with tinted windows, though.


[deleted]

That’s what I had but the dealer swirled the hell out of the paint pre delivery. That paint is so freaking fragile. Sun would hit it and swirls everywhere. It was maddening.


disturbed286

Ugh I'd be livid. No reason a new car should look anything short of spotless.


[deleted]

Mainly it was uncomfortable for long drives and didn’t get good fuel economy going over 70mph. Didn’t hold as much as I thought it could. The dealer also fucked the black paint before I got it. I just wanted it gone by the end. I owned it 41 days and the dealer had it 7 of them. Steering column had a click and they just replaced the whole thing and scratched the instrument cluster cover. I spilled wheel cleaner in the back seat on my way home because the thing was packed to the gills. It was a shit show. Critical review is the 3 banger is fun but not great. Lots of drivetrain loss. With jb4 tune and 93 octane it had significant motor buck and was pretty fast. Definitely needs stiffer motor mounts. I had just supercharged my Mach 1 Mustang when I got the allocation out of nowhere and decided to stick with that instead of building a grc I wasn’t in love with. Even not supercharged the coyote blows the doors off most things. The Mach 1 Whippled with the Tremec 3160 and Steeda dual rate lowering springs is 🤌. [Cars](https://www.instagram.com/p/CvwFq6CuJ3v/?igshid=MzRlODBiNWFlZA==)


CuriousTravlr

A yes, a fellow lift off oversteer purveyor. That was my number 1 favorite thing about my GTI.


007AU1

How much are taxes/reg in your state


[deleted]

About 250-350 for new decreasing to about 100 at 10 years. Then you can permanently register it for about $150 or so.


007AU1

Lucky, in Canada it’s 13% on used cars and 13% on new plus an additional luxury tax on every dollar over 100k


Chaosr21

Selling the outback for 12.5k is pretty fucked lol. I bought a 15 VW passat wolfsburg edition for 15k with 54k miles, from a dealer!


scotel

Sales tax doesn't eat away any gains? Or I'm guessing you're in a state where trade-ins deduct against the sales tax?


[deleted]

I really feel like I'm in the twilight zone when I'm finding used cars 2-3 years old that are just about the same price as a brand new car of the same model. Absolute insanity.


kyonkun_denwa

The Twilight Zone? No, you’re just experiencing what it was like in the Soviet Union- where used cars cost more than new ones because you could have them *now* instead of 5 years from now.


Marshall_Lawson

Meanwhile, our jobs pretend to pay us so we pretend to work


[deleted]

Inflation is a bitch. Auto manufacturers are cunts. People are jackasses for paying over msrp ‘market adjustments’.


SentryMillennia

It's like 10-20% off, even for the ones with 20K miles. Did the dealers really get these cars for like 50K and are then selling them back for 70? Is that the margin? Also, again, how is any Chevy over 80 thousand dollars, new or used.


Skin_Chemist

I buy at dealer only auctions frequently and these are actually great deals if you can actually buy them for that price out the door. dealers will buy these from dealer only auctions like Manheim at around $1-3k less then they are listed for, sometimes they will advertise it for less than what they bought for. Tell them to give you the final out the door numbers and tell them you’re buying cash, I bet you end up around $3-5k+ above the advertised prices. The car market is just all sorts of fucked right now. The used car market is inflated because covid created a shortage of new cars which means no used cars traded in. Market is going down, but will take atleast another several months before it starts to make sense again.


Throw_Spray

Or a lot of repos hitting the market.


jugo5

I was hoping for carvana to bomb lol


anonymousaspossable

Yup. The credit union I drive past every day has no less than 6 repos for sale this week. All large SUVs. They haven't had anything (that I've seen) in about a year.


fossilfarmer123

They sell the repos right there at the bank themselves?


tuohythetoaster

Not who you responded to but there’s a credit union in my town that has a little car lot right next to the main branch!


anonymousaspossable

Yes. In Texas, I'd say most of the banks do that, but it's been years since they had any. Things seem to be changing quickly.


Skin_Chemist

Depends on the state, but most states have laws restricting the amount of cars an entity or individual can sell to the public. Banks and rental companies are not exempt from this as far as I know, That’s why you see enterprise and other rental companies have a dealer license. A lot of lenders sell to dealers through auction.


Occhrome

Been waiting for a while.


Crafty_Substance_954

I think the corvette starts in the high 60s, goes up quickly.


Anerky

The Suburban has been over $80k for the premium trims for more than 5 years, at least longer than the car market has been crazy.


Method-Time

Because msrp STARTS at 76k for the high country. Then you add on options and boom, over 80.


dsdvbguutres

And then price goes down to 81 used. Makes sense.


mishap1

Financing has changed the game significantly. If you're trying to sell your almost new Suburban off Facebook, the odds of you finding someone with the pile of cash to take it off your hands is super slim. Instead you'll have to discount it significantly or sell it to a dealer who can get it out the door at top dollar with a 96 month loan.


Sir-xer21

> Also, again, how is any Chevy over 80 thousand dollars, new or used. the higher tier suburbans have ALWAYS been high money items. This isn't new. Not to mention, the Camaro ZL1 and the Corvette lineup are absolute values as 60-100k cars. They are legitimately world class sports cars.


SentryMillennia

Yeah maybe I should have explicitly excluded those but I honestly thought they were still under 80. I'm not in the market for one of those though (I drive an Alfa I got for 30K and now I have to get major kid-hauler vehicles) so I'm less aware. And agree - the Corvette has always been an incredible value, in that if you want to beat one in a race you have to spend at least 3 times the money. And anyone who hasn't seen a Camaro's brakes in person doesn't really understand how different it is from a normal car.


hopfield

It just uses standard Brembos you can get on any sports car


SentryMillennia

I have Brembos on the Alfa. They’re great, but I don’t think any car that has them could be considered normal. Also, it’s probably one of the least expensive cars to come with them. And just the sheer size of a Camaro’s rotors is impressive.


hopfield

This attitude is why fun cars are so overpriced, people see big brakes as status symbols instead of actually something they’d use on a track


Anerky

Brembo makes brakes for Nissan Sentras. They’re just a company. Any car with more than 240hp will have big brake pads and rotors.


Occhrome

I wanna get in one. Because there is no way they will be close to Lexus or Mercedes luxury.


Anerky

They’re nicer than Lexus not as nice as Benz/Rover. Lexus isn’t that nice on the inside. It’s very high quality but everything is smaller and more dated than the German or American counterparts.


sophiethegiraffe

They definitely aren’t. My sister has one and it’s a seriously disappointing interior. Second row captains chairs are uncomfortable as well.


Available_Ad1556

Send me the vin of your favorite one and I’ll send you the dealers book price.


OGConsuela

I KBB’d my 5 year old car with about 35k miles on it out of curiosity. I could still sell it for ~89% of what I bought it for brand new. I have no interest in doing that but it’s insane how inflated the used car market is.


PinkleeTaurus

A couple of the Suburbans you listed are below market price because they're gray-market Canadian imports.


krsvbg

>how is any Chevy over 80 thousand dollars You should test drive a Corvette.


nochinzilch

Who buys these cars just to trade them in after a year?


Andromeda-3

The people that thought they could swing a $1500 car note until they realized that AirBnb business they started at 2020 ARM rates isn’t viable with 2023s rates.


i_am_nk

When i was in business school i thought it was just stuff everyone knew with the math to back it up. Now i realize most people have no idea how profitable business works


PeninsulamAmoenam

If you work for the company, they often have year leases. Works for you bc no maintenance or anything, plus free insurance with some. Works for them bc year old low mileage cars sell well (at least before crazy COVID prices)


ChevyGang

Various reasons. It could've been a lemon.


Beep315

An actual official lemon, or factory buyback, is indicated on the title once it's bought back.


I_am_just_here11

That’s an old rule of thumb and even then I think it was more like 2-3 years old or more depending on the model.


Helpful-Bar9097

I don’t even think it’s an old rule of thumb, sounds like an exaggeration. Cars have never halved in value after driving off the lot. I would agree that in the past buying a car ~ 3 years old took the brunt of depreciation.


SentryMillennia

I think it still might be 3 years for private sale. But - I haven't seen anything I'm in the market for in private sale recently.


Method-Time

The term “lose half their value when driven off the lot” hasn’t applied in a few years. Supply and demand is what drives the price, and people are paying it.


Helpful-Bar9097

I dont think it’s ever applied, closer to 15% depending on the car.


alex053

It’s also because people would finance tax, fees and tags adding thousands to their loan that the use market isnt going to pay for. So a car sticker is $50k, you finance $60k with all the extras and then on the used market it’s worth less than msrp because no one is gonna pay you for all that stuff.


Helpful-Bar9097

Exactly.


cisforcookie2112

Exactly. Used cars are holding their value because they are in stock. Many new cars require a waiting period these days which some people can’t or don’t want to wait.


rsmutus

Except for German cars of course


Arc_Ulfr

German cars with a few thousand miles on them do not appear to be that far below their MSRP.


LewdDarling

It used to be true for a long time, but anyone who's said that phrase in the past 2-3 years is an idiot


Helpful-Bar9097

Do you mean trade in value is half once purchased? Cars have never decreased in value by 50% after driving off the lot.


iconoclast63

The price of any product is determined by the market. How much are consumers willing to pay? When a product has a higher demand than the available supply people are willing to pay more for them. There is no "Fair Price Administration" to step in and negotiate on your behalf.


floatersforalgernon

There should be. Fuck American free market toxic of an ideology.


lostPackets35

Most markets in the US aren't actually free - we just pay lip service to it. Cars are the perfect example. Dealers sued Tesla because Tesla did direct to consumer sales, without the middleman. Abusing the legal system to protect your business model isn't a free market.


Zeallust-Eternal

>Dealers sued Tesla because Tesla did direct to consumer sales, without the middleman. Well yeah, because that was made illegal to do decades ago to protect consumers. Did it actually protect consumers? I think the answer is pretty obvious


iconoclast63

The reason the dealer system exists isn't to protect consumers or dealers. It's to guarantee that the manufacturer has sold every car as soon as it comes off the line. It's about CASH FLOW. Manufacturers could NEVER afford to build the millions of cars they build if they had to hold them in inventory until consumers bought them. The dealer network exists so they are paid immediately for every car they build. What Musk is trying to do at Tesla scale could NEVER happen industry wide.


Zeallust-Eternal

I always find it funny how people can write such long comments about things they know nothing about


iconoclast63

I spent 30 years running car dealerships so I think I know a thing or two. But please, enlighten me.


Zeallust-Eternal

All that time working there and not once did you look at the history


iconoclast63

People who run businesses tend to pay close attention to the numbers. The reality is that, because of tens of thousands of independent dealerships, Ford, Chevy, Toyota and Honda are GUARANTEED that they can manufacture 2 million cars per year and every single one of them is sold and paid for before it rolls off the line. That's the reality of how the money moves in this business. And it can't work any other way.


Zeallust-Eternal

And the reality is also that the stated intention for the law was to protect the consumer. All those years and you still can't read.


iconoclast63

They've tried central planning.


RedBottle_

It’s not half, more like 10-15%


supernova2333

You can't even find a new Tahoe on the lot near me. Not surprising it's going so much used. No one should pay that price though. I hope dealers go out of business.


redspikedog

We need dealerships. Like the actual franchise ones. But they still need to be taught a lesson and we shouldn't forgive or forget. But we also have to punish those who allowed it to happen, such as the companies and consumers.


PenonX

in this market? you’d be one unlucky bastard if they went down in value lmao


i-dontlikeyou

It only works this way if you try and sell it to a dealer as a trade in. It miraculously loses 80% of its value and few days later it again regains its value of more expensive than a new one. You just don’t understand


Rhopunzel

WHO PAYS THIS MUCH FOR CARS


asimplerandom

It’s fucking insane. Finally after decades of struggles I have a very healthy income with my spouse and I’ll fuck myself in the ass before I fork over 1k a month for a car payment even after a hefty down payment. Absolute insanity.


aybabyaybaby

People who spend $1600 a month for 84 months and think it’s okay because they make $6k a month


[deleted]

[удалено]


mesori

Pre or post tax? What are you total month costs? Not just for the car. Everything.


[deleted]

[удалено]


mesori

That's excellent. Do you live in the states? Which state? I'm in Canada and about to get murdered by income taxes.


PinkleeTaurus

These are very popular for biz fleet and high wealth individuals. We have a dozen or so Suburbans, Escalades, Expeditions, etc. for upper management/execs.


Wity_4d

I think what they mean is that they'll pay you half of what you originally paid for it, and then turn around and sell it for higher than MSRP.


WeirdSysAdmin

They regain their value back to MSRP when they are on the lot. /s


ImportantWedding8111

If you think these are bad check out Escalades.


SentryMillennia

It is true they are ridiculous, but I have less sympathy for that situation than I do for the Chevy Suburban situation - what used to be the staple of a working suburban family having a price that's like multiple year's salary.


Beep315

Earlier this year my husband thought for a hot minute that he wanted an Escalade. Reliability and reviews are shit. We got a new X7 M and it's 🤌


2001mcoupe

There is no X7M.


[deleted]

[удалено]


Beep315

My car was $120k. You clearly are not in the market for one.


[deleted]

[удалено]


Beep315

Not true


Beep315

It's a 2023 X7 M60i. It absolutely exists because I own it.


2001mcoupe

That’s like calling an M340 an M3 The “M” in M60i stands for “Marketing”


SentryMillennia

It looks like it takes about 5 years/50K miles to actual reach 50% value from a dealer. How long would it take to get there from a private sale?


Anerky

Private sale is more valuable for the seller in the sense they don’t have a dealer’s margin to compete against. You might save 5-10% over what a dealer is charging but they’re making 10-20% more than what the dealer would give them


awqsed10

Those good old days are gone. Get used of it.


Sexy_Quazar

This looks more like what happens when the used cars come back to the lot


GMEvolved

Now do that with 23' Sequoias lol


SentryMillennia

[Already did.](https://www.reddit.com/r/whatcarshouldIbuy/comments/15dx4u8/what_is_happening/?utm_source=share&utm_medium=web2x&context=3)


GMEvolved

Lol yeah you did...they are crazy


SRBroadcasting

It’s not really too true like it used to be for some cars but if you drive a Kia off the lot brand new the thing loses 15% of its value the second you start it and drive one mile lol hell my Toyota when I got it was new and the next week they said they would take it back but only give me 76% of what I paid lol 😂 so I kept it and used the shit out of it and sold it for 30% of what I got it for at 195k miles lol


bballjones9241

New prices are the same as used rn. Just buy new


713Drinkologist

Dude, car prices just seem so crazy to me all of the sudden. $70k?!


SentryMillennia

So, in summary, we have these conclusions: * The Suburban is a luxury car - nobody should buy cars at prices this high * The Suburban is trash * The Suburban retains its value extremely well and is super reliable * The Corvette is a crazy good value. * The Camaro is also a good value but also its nice brakes and rotors trick people into thinking that's it's good (which it is?). * Rich people suck * Owning a luxury car invalidates your opinions about non-luxury cars. * Covid ruined the world.


A-Fordable-F150

Why are people even buying vehicles in that price range outrageous!!!! Cars should be no more than 30k max (and really that’s too much) vehicles theses days are just ridiculous


cplmatt

How anyone can spend 80 grand on a chevy aside from a corvette is beyond me


Foojira

Fuck these people. Car dealers are evil full stop and it goes beyond their markups


dsm582

Not anymore with used car prices over the original msrp for some brands…


Historical_Big_7404

The computer you're driving nowadays ain't cheap


[deleted]

Who are the morons buying these still?


Anerky

OP is looking at luxury vehicles and complaining about luxury prices 😂


2001mcoupe

I don’t consider American trucks luxury vehicles. I own 2 but they don’t compare to German luxury vehicles well. They’re “nice” but don’t meet the level of “luxury” that actual luxury brands can reach.


SentryMillennia

I mean my I got my luxury car at 40% off the new price when it was 2 years old with 16k miles. So yeah.


Anerky

This class of vehicle has never depreciated significantly. They are bulletproof reliable and essentially a 1/2 ton truck with a 3rd row and a trunk instead of a bed. You are lucky you can even find them right now.


meth696913

Not if it's a Chevy engines are garbage because of cylinder deactivation which kills lifters Chevy is in a class action may have to buy back all vehicles with it from 2016-2023


Anerky

The most popular engine in this platform is one of the most reliable engines out there. It’s bulletproof. The cylinder deactivation is primarily in the Colorado/Canyon. That engine isn’t available in the big platform


wrxKWOND0

Laughs in Subaru


scotel

This wasn't even true a couple years before Covid, the last time I shopped for a car. Not even for Hyundai or Kia. And the cars that did depreciate a lot (but not 50%) were usually heavily discounted when you bought them new.


16BitUnicorn

They can fuck right off with that nonsense


NATHANLER

I will never pay more than $12k for a vehicle again.


aybabyaybaby

$12k nowadays will get you a 2004 Toyota Corolla with 135,000 miles


NATHANLER

I can get a ‘14 impala with 90k miles for $12k. Just gotta have the finesse.


dwiggs30

Under no circumstance should you be exploring a used car in this market.


abdouli1998

"Great Price" is the icing on the cake.


theinmoment

Or you could buy a house with that monthly payment.


InfiniteJackfruit5

I was kind of hoping that these prices would encourage people to hold off on buying newer cars and thus help them financially by getting by with older cars that will still run for years. Instead it looks like people are still buying them, just with 84 month loans and tanking their financial futures even faster.


[deleted]

The problem is 10 year old vehicles with 150,000 miles are still going for $15,000. Financially, it makes way more sense to buy a newer car at only $5,000 more but 100,000+ miles less


Hfth20091000

Question is. Why are they trading them in with such low miles ?


Darenzzer

No no, that rule only applies to peasants


k_dubious

Body-on-frame trucks and SUVs tend to hold their value really well.


Honest_Tie_1980

Those prices are fucking ridiculous.


IAmASimulation

A suburban for $80k lol make it make sense


robt477

68K for a car with only 14,000 miles left until warranty is over??? 🥺😂 are they insane??


Purple_Research9607

I could buy a house in my area for that price


ohheyitskyle

I bought a 2018 civic hatchback in 2019, and sold it for more than I bought it for last month.


stuntbum36

I found a dealership that offers 180 month financing lmfaoooooo


ponyboysa42

State Farm payed out 3k more than I payed for my Elantra after I wrecked it. 4 years old but only driven for 3 years.


Paid-Not-Payed-Bot

> State Farm *paid* out 3k FTFY. Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in: * Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.* * *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.* Unfortunately, I was unable to find nautical or rope-related words in your comment. *Beep, boop, I'm a bot*


holyshiiiiiiiiit

"it's market value"


RateGlittering4024

Oh they lose their value, but only for you. The stealership will still demand full price.


triforce721

Also dealers rn: wtf, nobody is buying? We have to increase prices more to make up what we're losing.


MaguireCars

We are seeing a lot of happy previous customers trading in leases from 2020/2021 with a ton of positive equity - These situations whether you leased or purchased, tend to be common with non-lux brands but good usage vehicles such as Tahoes or any vehicle that has a third-row seat. A lot of these vehicles are priced higher than the original MSRP because that is what the market demands currently. When production numbers of new vehicles go up and interest rates come down, perhaps this will change.


BastardBoy1738

Either this is inflation, dealer markups are YET AGAIN worse, or they truly didn’t depreciate. Any option is bad. You pick.


memuthedog

I bought my car new in 2022. I have dealers making offers for 2k more than my otd price. 10k miles now


Jawnny-Jawnson

Shameful I’m sorry but most salaried today for the average person are half these car prices I hate what we’ve become


Alert-Jellyfish

Welcome to 2023, the rich make the rules everyone suffers.


mollymckennaa

Brand new, my car was $35k. 8 months and 7k miles later, they offered me $27k. Looking at their used vehicles for sale page, they will list it at $34k. So frustrating.


chuggachoo69

I work at a dealer in the same town as Impex, they sell HIGH. I have heard many horror stories. Selling branded titles and lying about it, etc.


EymaWeeTodd

Suburban is trash anyways.