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Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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I get emails from both our Subaru and Ford dealers offering more than we paid in trade for the Outback and F150. One reason is that we got such good deals when we bought before the current inflation, $2,000 off sticker and $11,000 off sticker. Of course when you have 0% interest and 3% interest loans and only 20-30,000 miles that would be silly. It cracks me up when the ad says "the same or lower payment" but then it shows it being about $100/month more for the 2023 even with that great trade amount.
I get emails from both our Subaru and Ford dealers offering more than we paid in trade for the Outback and F150. One reason is that we got such good deals when we bought before the current inflation, $2,000 off sticker and $11,000 off sticker. Of course when you have 0% interest and 3% interest loans and only 20-30,000 miles that would be silly. It cracks me up when the ad says "the same or lower payment" but then it shows it being about $100/month more for the 2023 even with that great trade amount.
Yeah, there was some weird mass hysteria going on with the car shortage. I was sort of looking at getting out of the Prius at the time since the used values were nuts, but then I'd get screwed on the replacement. Used Outback might be MSRP for 2-3 year-old one that sold for 2k under MSRP originally and then the new Outback was 2-5k over sticker. Pickup aside from maybe a base work truck, those all were starting at 10k off MSRP and people were paying MSRP (or over) on a couple year old used one and 5, 10, 20k markups for a new one. Thing to do was just find one of the MSRP dealers and get in the long line but people were in that state of hysteria where they needed to pay big markups now in case it got worse later.
Some people were in a tough spot. An old vehicle broke down and wasn't worth fixing. They had a third kid and needed something with three rows. The majority of buyers though didn't need to buy anything. Sales is all about creating that sense of false scarcity so when you had a real scarcity, a lot of people became completely irrational and desperate to pay big markups on a durable good they didn't need to buy.
It flipped fast. I remember originally looking at the Polestar and going nice car, way overpriced. Wait list for months for a new one, used ones were MSRP. People took the tax credit, drove them for a bit, then sold them for a profit to hysterical buyers who couldn't wait months for a new one (Polestar doesn't really haggle, typically -- although they will a bit now since they have to). When I bought it was completely different. New ones were piling up with cash discounts and the value on the used market had dropped 20-25k. Hyundais were kind of similar. The best price I found on an Ioniq 5 previously was 6k over MSRP and you had to wait for 4-6 months for the privilege of paying markup. Cool, not for me. Came back about six months later and they're piling up on the lots and 5k cash on the hood. In six months the price swung back 11k and you had an okay selection sitting on the lot rather than waiting for months.
With the cost of cars now, I just keep fixing them until the wheels fall off. then sell them on facebook usually to someone who wants to fix them up even though they are completely inoperable.
Actually, last vehicle purchase, i went to carmax first and had offer in hand before going to the dealer. I figured i could use it to counter the dealer's lowball offer.
Dealer beat it by $1000 without saying a word. I gave them the car.
I bought a '23 4Runner last month and traded in my 2016 Lexus ES at the same time. Dealer trade in vs the book value were close enough for me to just leave the car and drive away. The convenience of it is well worth it, not to mention the savings on the sales tax which covered whatever the dealer was short of. I have sold many cars privately and I absolutely hate the experience.
I just bought a 2018 Toyo Rav4 at a Porsche-Audi dealer who got the car as a trade in just a few days earlier. This Rav4 has about 35K miles in like-new condition with one prior owner. I looked all over for a low mileage small SUV but had little luck until I found this deal. Was able to buy it cash with no hassle and it was an easy transaction at the car dealer. It seems like some of the new car dealers are the ones who get the better trade ins or lease returns
You do have to be honest about condition of your car.
Pretty sure I left some $$ on the table when I sold to CarMax earlier this year. I was honest, got the quote online, and figured even if they backed off a couple thousand bucks I'd be happy. They didn't even drive it, and couldn't have done anything more than a cursory walk-around in the time it took them to come back with the paperwork and the internet quote.
That was my third selling event with CarMax, all pleasant.
I sold a collectable Porsche 911 on the Porsche Club of America's publications' classified website. I needed to find a buyer who was affluent, & who knew what made the car unique, & valuable.
I traded in a SUV we bought new, & had for 10+yrs for a newer used car for our Son.
I traded in another SUV on a leased SUV for my wife.
I sold my company-owned pick up truck "by owner" to a lady I knew through work...word of mouth.
So, I've used several different methods to sell off used cars.
I'll likely stick to the 3 year lease method moving forward. I can afford it, & I want to drive a different new vehicles every 3 years. I also want to try electric, but don't care to buy one, or be stuck trying to sell it 3 years later.
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