When will the used car market peak?

[lemming]

Originally Posted by clyde

Vroom offers can take a couple days, but once you get an offer, if you follow the link in the "your offer has expired, click here to get a new offer" link in the email you get from them a week later, it will usually give you an immediate number.

Carvana will always give you an offer within a few seconds unless their system messes up and it tells you that they're looking into it and will get back to you (they won't, but if you run your car again a few minutes later, you'll probably get a number).

Carmax will usually give you a number immediately, but sometimes they will say they need to see your car. They may or may not give you an offer if you try it again an hour or so later, the next day, etc.

I’m often crazy. But not stupid enough to buy a car in this market.

But I would like to.

[Jeff_DML]

Originally Posted by Jeff_DML

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.

Vroom was terrible again. Just spent over a hour getting a carmax quote and the quote came in right at my minimum, about Carvana. Only problem is they have a 4+ hour wait to sell it

[Biggins]

I'm 90% sure that I'll be selling my FR-S to Carvana or Carmax in the next month or two... the number is good and its reliability has been rough since Toyota did recall work on my car. I think I like the GR86 enough to sell and keep saving for one of those or find a very low miles 2017-2020 Toyota 86. I tried and failed to get one of the final new 2020 toyota 86s last month because I was way too far apart on what they and I thought it was worth.

I hope it stays high long enough to get a lot for my car in August-ish, but I get quotes on a near daily basis.

[ZBB]

FWIW, my industry contracts are expecting the chip shortage impact on new vehicle production to ease by late this year. Production rates should return to normal by then.

If you can sell a car this summer and hold off buying until early next year, you might make out nicely. I’m actually considering dumping my 3 and seeing if we can get by with one car for a bit…. It will be 3 in Sept, and I just turned 20k miles on it…. I’ve never liked driving a repaired car, so this could be be the right time…

[Josh (PA)]

Originally Posted by clyde

The image is the $200 (on the nose) Carvana offer for the 2004 107k mile 325i I just paid $3800 for. Based on the E46 asking prices I was seeing a few weeks ago, the car I bought was underpriced and what you're describing is accurate. The wagons seem to have a slight premium over equivalent sedans.

The current fix estimate is $2500, and their all in total valuation was $5340. I countered with a bunch of comps that support $6500. Current plan is to take the rear bumper off and see if there is any damage to the frame. If so, it will be totaled. If not we will fix it. I'm still very much on the fence about keeping it regardless of the accident outcome.

[wdc330i]

Originally Posted by ZBB

FWIW, my industry contracts are expecting the chip shortage impact on new vehicle production to ease by late this year. Production rates should return to normal by then.

If you can sell a car this summer and hold off buying until early next year, you might make out nicely. I’m actually considering dumping my 3 and seeing if we can get by with one car for a bit…. It will be 3 in Sept, and I just turned 20k miles on it…. I’ve never liked driving a repaired car, so this could be be the right time…

That makes sense. I do think we’re in the sweet spot now, with people wanting cars for kids going to college, summer vacations, high school graduations, etc. And very few out there.

Although there seem to be plenty of CX-5s and Taycans out there!

[robg]

Originally Posted by wdc330i

That makes sense. I do think we’re in the sweet spot now, with people wanting cars for kids going to college, summer vacations, high school graduations, etc. And very few out there.



Although there seem to be plenty of CX-5s and Taycans out there!

Ha yeah have noticed that my local dealer has way more taycan in than anything other than Macans. It does seem that the sub 100k versions move quickly though - they had about 5 RWD in stock a few weeks ago and now it’s just 1. Everything else is over 120k


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[Alan]

The problem now is not just finding an awesome used car but finding something new as well …. Meanwhile my friend just walked into a local bmw dealer on Thursday and bought a new M4 right off the showroom floor with a manual and got a 2% discount … maybe it’s because of the grill truthfully it is starting to grow on me.

[clyde]

This may better belong in one of the P car threads, but I talked to my friend selling P cars these days. They have no inventory. 70% of what they get is sold before they get it (compared to an expected 40% in more normal times). Anyone that calls or comes in, they're telling them they need to put money down now and order if they want something within two years. They're getting, um, a lot of money for everything they can get their hands on. They are are reaching out to most of the people that have bought from them in the past year and making real offers to buy for way more than they sold.

Crazy.

[wdc330i]

Originally Posted by clyde

This may better belong in one of the P car threads, but I talked to my friend selling P cars these days. They have no inventory. 70% of what they get is sold before they get it (compared to an expected 40% in more normal times). Anyone that calls or comes in, they're telling them they need to put money down now and order if they want something within two years. They're getting, um, a lot of money for everything they can get their hands on. They are are reaching out to most of the people that have bought from them in the past year and making real offers to buy for way more than they sold.

Crazy.

There’s definitely some weird psychological thing that happens in the face of scarcity. Maybe it makes you pull the trigger on some crazy high-priced Porsche?