When will the used car market peak?

[wdc330i]

Originally Posted by JST

The price point on the Maverick does make it compelling, but it's also confusing as fuck. There's no logic to the idea that the Maverick should cost that much less than an Escape, really, other than the fact that Escapes cost too much and Ford needs a cheaper vehicle that doesn't suck as hard as the EcoSport (which, BTW, is *more* expensive than the Maverick).

That said, owning a Maverick means owning a super short bed pickup, which...I don't need and doesn't help me? It's less useful than a sedan for me, because it doesn't have covered storage, and even if you put a cap on it, it's still less useful than an SUV for me because the seats can't go down.

I understand why a small subset of people are excited about a cheap pickup. I understand why a bigger subset of people are excited about a cheap hybrid. I just think at the end of the day a lot of people that buy the Maverick will buy it in spite of the fact that it's a pickup, not because of it.

I like the Maverick. But I don't like Ford's track record on reliability.

[nate]

$27,750 and it didn't hit the reserve: https://carsandbids.com/auctions/KYy...-audi-s4-sedan

Wild.

[Josh (PA)]

You guys and your carvana offers

[wdc330i]

Originally Posted by Josh (PA)

You guys and your carvana offers

No! Really?

[Jeff_DML]

Originally Posted by Josh (PA)

You guys and your carvana offers

Mine is tempting.

I have to go into carmax tomorrow to get a quote for them, no online. Vroom was terrible last time I did it but requested it again but they need to review.

[Josh (PA)]

Originally Posted by wdc330i

No! Really?

That's for the e46. Maybe I screwed something up, or maybe they don't want an awesome wagon.

I'm starting to pull comps, as it is looking more like the accident is going to cause it being totalled. I didn't put that in the carvana estimate though, so I don't know where almoossttt $200 came from

[clyde]

Originally Posted by Josh (PA)

That's for the e46. Maybe I screwed something up, or maybe they don't want an awesome wagon.

I'm starting to pull comps, as it is looking more like the accident is going to cause it being totalled. I didn't put that in the carvana estimate though, so I don't know where almoossttt $200 came from

For reference:

[robg]

Originally Posted by SARAFIL

I’ve been eyeing various options as a 2nd car if I decided to finally pull the trigger and replace the 340 but hadn’t thought of any X5 replacements. We honestly love it for the purpose it serves so I think if I even brought up the subject the answer would be “let’s look at another X5” or maybe an X7 (which we definitely don’t need). I guess there might be something Benz, Range Rover, etc. that would also pique other half’s curiosity but we all know I’m a BMW guy so I know what way I’d lean. Also not sure deals are to be had on any of these options. But at least it gives me something new to research for a few days!

As for shit deal- our current car was almost 11% off MSRP plus $3000 in lease incentives and 57% residual. Just going by the deals on leasehakr right now, a replacement would be 5-6% off MSRP, $1500 incentives and 52% residual. These are 90-100k cars depending on options so yea, 5% less residual and 5% less discount pretty much eat up 9k equity. Could basically roll it all into a new lease and come out even which is kind of “meh”. Not opposed to buying but in that case still left with ~$80k balance after trade which is a big number. At that $$ definitely prefer the flexibility a lease provides.

So I guess it’s all academic but does make me feel a bit better knowing I have some equity in car in short term if I needed to do something. Also really wondering how hard the correction will be - my residual is $50k, will it really drop almost $25k in value in next year? Doubt the supply will increase that much to drop the bottom out of it. Who knows. A lot of scenarios to think about!

Was doing similar calculations on our RRS... it currently has about 10k in equity on the lease, so my wheels have been turning. But, like you, the dilemma is what we'd get to replace it since anything similar is going to be more epxensive plus we both really like the car. The only way to really capitalize on this crazy period is to go car-less or to buy a beater and wait it out...but even beaters are over priced at this point.

[wdc330i]

Well, it is tempting to sell a second car and wait it out… That would make the 2 pretty vulnerable.

But, it’s been (knock wood) trouble free and has the M performance LSD already installed. It’s low mileage and paid for. And anything I would buy next would cost a ton more (some kind of Boxster thing?)

So, probably staying put….

Edit: Although, could sell it. The Mazda could go in the garage (pretty much a one-car garage). And, I could stay the course until my son goes off to college and replace the Mazda with something fun…Three-5 year scenario. Definitely need FC advise now!

It would be nice to save the insurance money on the second car when it comes time to split insurance for my son…

But, the 2 brings me joy.

[Josh (PA)]

Originally Posted by clyde

For reference:

Hey Clyde, the pic didn't load. All the comps I'm seeing are in the $5500-$7500 range for 150-175k mile wagons in similar condition.