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      05-19-2011, 06:33 PM   #1
Precision
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WTF is up with this used car market!?

What the hell is up with the used car market, I am not just referring to the newer/used car market either. I have been looking for a toy/project type car and about 10% if that are have a sensible price, others are adding what they paid for modifications to what they would ask for a stock car

(but they subtract 20% off the original modification cost and claim it's a steal because whoever buys it didn't have to pay to install it)

I see a reasonably clean E30 325 with 255k on it and it's a bone stock auto the clowns are asking $5,400 for it !!!

one guy is trying to get $5,000 for his 2000 Disco with 140k on it hahahah! I know guys who've turned down clean D2's with only around 100k for the $2,500 range!

I hope these Greedy bastards get to sit on their sale forever.
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      05-19-2011, 07:01 PM   #2
ptack
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The used car market is actually very tight right now so you're timing is just bad. Try waiting 6 more months. If the economy picks up speed the used car market will get flooded as people who have been unable to afford new cars start trading in.
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      05-19-2011, 10:16 PM   #3
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people always want more for their car than they are worth.
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      05-19-2011, 10:48 PM   #4
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this is contrary to what one would expect in a recession (at least me)
i would think that in a recession people would take dirt cheap prices, but it appears that people may be strapped for cash and in turn wanting the most they can get for their goods ....


if it helps, pay in cash...once people see you are serious they may change their mind
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      05-20-2011, 12:16 AM   #5
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In recessions people cant afford new, so they buy used. So the prices of used cars increases. This doesn't really work the same for older cars. These people just want the most for their goods. You should laugh at anybody who tries to charge you for modifications. They aren't worth anything. If anything, they'll decrease the cars value.
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      05-20-2011, 09:05 AM   #6
rs6655
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Quote:
Originally Posted by Precision View Post
What the hell is up with the used car market, I am not just referring to the newer/used car market either. I have been looking for a toy/project type car and about 10% if that are have a sensible price, others are adding what they paid for modifications to what they would ask for a stock car

(but they subtract 20% off the original modification cost and claim it's a steal because whoever buys it didn't have to pay to install it).
I do not buy modded cars and trucks. If I see one bit of tinkering I walk away as too many people do not know what they're doing.

Our youngest sold Subaru's for awhile after he got out of college. Modded trade ins = less money. When they did take one it usually went straight to auction. The dealership did not want the liablity risk for potentially unsafe brake and suspension work.
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      05-20-2011, 09:28 AM   #7
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Quote:
Originally Posted by jlspeed29 View Post
this is contrary to what one would expect in a recession (at least me)
i would think that in a recession people would take dirt cheap prices, but it appears that people may be strapped for cash and in turn wanting the most they can get for their goods ....


if it helps, pay in cash...once people see you are serious they may change their mind
More people are looking for good used cars because they can't afford or don't want to spend the money on new cars. Demand for used is up.
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      05-20-2011, 10:11 AM   #8
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Reasons for the spike in used car values

1. Gas prices are high (fuel efficient cars)
2. Cash for clunkers removed & recycled many used cars from the market
3. The disaster in Japan has slowed manufacturing for many car companies
4. More people are holding on to their current cars because of the recession
5. Banks tightened up on leasing options due to the 2008 financial crisis
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