02-05-2022, 05:11 PM | #191 | |
Jaded
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February 4th 2022 10:00 AM The record surge in U.S. auto prices — which helped drive inflation to a four-decade high — may finally be over, say two firms that sell cars online. Used-car prices, which have risen at an annual rate above 50 percent at times during the pandemic, went into reverse last month, according to a new report from CoPilot, a car-buying app. They peaked in the two weeks after the Christmas holiday, and have since declined about 1.4 percent, the firm’s data show. TrueCar, a digital marketplace that helps auto buyers connect with dealers, says there’s been a drop in new-car prices too. They fell 2 percent in January from December, while remaining about 16 percent higher than a year ago, according to its data. To be sure, some caution is required, because it’s not the first time there’s been an apparent peak. Used-car prices posted some monthly declines last summer, according to one widely-used measure — but then resumed their upward climb. Buyer beware The industry is still struggling with supply-chain disruptions. But some automakers say those problems may be easing. The semiconductor shortage is less acute in the current quarter than the last one, and should start to really diminish in the second half of this year, General Motors CEO Mary Barra said on an earnings call this week. The lack of chips held back production of new cars. That’s had a knock-on impact in the used-car markets, as buyers who couldn’t get the latest model looked for a fairly recent one instead — driving prices up. CoPilot says there’s been a bigger drop in prices for used cars that are three years old or less — making them a better substitute for new ones — as dealers have expanded their inventories. The decline in that category is 2.1 percent since the early-January peak, while tor four-to-seven year-old models it’s about 1 percent. Last edited by SCA; 02-05-2022 at 05:42 PM. |
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02-05-2022, 08:17 PM | #192 |
Western Anomaly
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I can add anecdotal data. There seem to be more 2022 911s available online for sale. And local dealers seem to have some inventory now. Whereas two months ago all of the cars in the showroom were preowned.
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02-05-2022, 08:59 PM | #193 |
Jaded
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30+ PDKs and 4 manuals currently for sale (2022s) within the U.S. per Porsche’s USA website. Not amazing and no telling how many are/were pre-sold. Per my experience they are fairly slow to add and remove dealer inventory.
Last edited by SCA; 02-06-2022 at 12:28 PM. |
02-06-2022, 12:36 PM | #194 |
Solving problems
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Carvana seems to be offering too low a price compared to other prices I am seeing. Assuming I wanted to sell privately, besides car forums, should I even try Autotrader nowadays or should I go the auction route? Car is very clean, but I am not sure it's photoshoot-clean and it's winter.
I can certainly wait another month or so until weather improves. Separate question: My local BMW dealer is next door to a Mazda dealership and are both part of the "Gallery group." If I traded my M3 into the BMW, would I be able to get the sales tax credit towards a Miata (assuming they had one I wanted)? |
02-06-2022, 02:46 PM | #195 | |
Chief title editor
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The local dealers might give you more for trade than the others. Only one way to find out. Between the places you mention, they might be willing and able to help, but maybe not? Are the separate stores? Are their used sales by store, or are they combined? Just give them a call. Not sure what to tell you about selling privately other than find a way to get it looking sharp and do something now. If you go that route, you need to make it look sharp to get top dollar. You have a shop (but I don't recall if it's heated). I don't know what to tell you for the M3 re autotrader vs auction, but if you have a good sense of what it should go for/that you'd be happy with, I'd list it on the BMW boards, FB marketplace, and M3/BMW FB groups. Dunno how Autotrader, Cars.com, Cargurus.com do for private party sales, but if it's not expensive, why not?
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02-06-2022, 04:51 PM | #196 |
195
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Might try https://www.givemethevin.com/ too. A number of the car journos I follow on Twitter have used it and say it’s good.
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02-06-2022, 06:03 PM | #197 | |
I like BMWs
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M3 or (and?) GTS 4.0
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Carvana has been dropping offers for a few months now, I think they finally realized they were paying too much. This post at leasehackr has a good summary of the various places you can try to compare numbers on your car: https://forum.leasehackr.com/t/list-...-online/396451 Given the market right now, I think you could get offer from BMW Norwood and then trade to Mazda. They ultimately want the inventory. (FYI- they aren’t the Gallery group anymore… were sold to Prime Auto Group a few years ago and then sold again late last year to Group 1 after ponzi scheme allegations against the hedge fund that owned Prime and several manufacturers forced them to sell their dealerships. Mazda also just moved to a new facility up the street across from Audi/Porsche Westwood.)
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02-07-2022, 10:33 AM | #198 | |
Solving problems
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02-07-2022, 10:48 AM | #199 | |
Solving problems
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