Will Vehicle Prices Ever Decrease?

[ShaneMo]

I bought in January.. I’m checking interest rates weekly waiting to refinance.

 

[SteveAndTheCrigBoys]

Why? The 6.5 double cab is perfect. I’m 6 feet and there’s plenty of room for me in the back. Tons of storage with the seat folded up. Put a topper on the back and sleep in the bed. I’m convinced it’s the best hunting rig currently made.

I looked at one, it was a little tight for my liking. I mainly use the back seat area for gear storage, didn't want to have to squeeze to get things in and out. Definitely bigger than other double cab options, just not as big as the crew cab rear that I'm used to.

 

[idahomuleys]

I just ordered my wife a new 24 bronco sport. I have been looking for a used one within 700 miles trying to find a deal and nothing really seemed to pop out. Went in to the dealership and got one ordered for less than the used ones on the lot. $7k under MSRP

 

[RDMT]

I bought in January.. I’m checking interest rates weekly waiting to refinance.

Same here. Not sure if we'll be waiting much longer.

 

[cmahoney]

I just ordered my wife a new 24 bronco sport. I have been looking for a used one within 700 miles trying to find a deal and nothing really seemed to pop out. Went in to the dealership and got one ordered for less than the used ones on the lot. $7k under MSRP

That is good to hear


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[trazerr]

Last Friday I sold my 2018 Tacoma that I had for 6+ years, 50k miles, and an accident and made $5.7k more than I paid for it OTD in 2017.

Picked up a 2024 Tundra platinum the next day for over $8.5k off msrp. No dealer add ons. 2.25% interest rate so financed some of it at that low of rate. Came in with warranty quote from the dealer in Midwest that sales at a hair above cost. My dealer first offered $3,300 for the 7yr 75k Toyota Platinum $0 deductible warranty. Showed him the quote. Ended up matching it at $780. I should have bought some lottery tickets last weekend.

Deals are out there for both buying and selling right now that’s for sure.

 

[LFC911]

Will be selling this soon, son moved back home and wants something more economical and doesn't need 4WD, so we gave him the wifes '12 RAV4 (plus cash) and going to get something newer for her. One owner, bought new in '21. Boy moved to KCMO and titled it there, which is why it shows two owners. Going to title it in KS and trade it in or sell it. Carfax and KBB are showing private party value of ~$45k with 44k miles. Only issue; someone backed into it and we had the rear bumper replaced and painted. Cosmetic damage but still dinged us on the carfax report.

 

[Ucsdryder]

Will be selling this soon, son moved back home and wants something more economical and doesn't need 4WD, so we gave him the wifes '12 RAV4 (plus cash) and going to get something newer for her. One owner, bought new in '21. Boy moved to KCMO and titled it there, which is why it shows two owners. Going to title it in KS and trade it in or sell it. Carfax and KBB are showing private party value of ~$45k with 44k miles. Only issue; someone backed into it and we had the rear bumper replaced and painted. Cosmetic damage but still dinged us on the carfax report.
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You should get all the money for it. When you go to sell/trade it, bring a copy of the repair showing what was done. If it shows a bumper skin and paint only thatll help.

 

[LFC911]

You should get all the money for it. When you go to sell/trade it, bring a copy of the repair showing what was done. If it shows a bumper skin and paint only thatll help.

Great point, need to dig that out or get copies from the body shop.

 

[trazerr]

Will be selling this soon, son moved back home and wants something more economical and doesn't need 4WD, so we gave him the wifes '12 RAV4 (plus cash) and going to get something newer for her. One owner, bought new in '21. Boy moved to KCMO and titled it there, which is why it shows two owners. Going to title it in KS and trade it in or sell it. Carfax and KBB are showing private party value of ~$45k with 44k miles. Only issue; someone backed into it and we had the rear bumper replaced and painted. Cosmetic damage but still dinged us on the carfax report.
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Go for DV if you still can. I did when my Tacoma was bumped. Other guy was 100% at fault. His insurance covered all repairs and rental. Had to replace a bed panel, part of bumper, and then paint.

Decided the ding on carfax should get me a DV check (Tacoma's are worth their weight in gold here, but an accident hurts them). First DV offer was $1,120. Second was $1,140. The guy that hit me was a d bag and should have never been behind the wheel (hit and run, lied as to what happened and where to cops and insurance, threatened and harrassed me for months after, his insurance as well, etc) so I went and got an official report done by a company that specializes in DV claims and a lawyer.

In the end his insurance paid me almost 7x more than their last offer and 11x overall to cover all lawyer fees, reporting fees, serving fees, etc. Not a penny out of my pocket for it all.

 

[Laelkhunter]

I bought in January.. I’m checking interest rates weekly waiting to refinance.

Not sure where you are, but all of my local credit unions are advertising that if you refinance any car loan with them, they will cut your interest rate by at least 2% with no processing fees. If you have the monthly note auto deducted from your checking account, you can save an additional 1%.

 

[CorbLand]

Not sure where you are, but all of my local credit unions are advertising that if you refinance any car loan with them, they will cut your interest rate by at least 2% with no processing fees. If you have the monthly note auto deducted from your checking account, you can save an additional 1%.

Shit, what are the base rates?

Most auto loans around here are 6-6.5% base. I could use a 3% decrease.

 

[Laelkhunter]

Local we have New Orleans Fireman's Federal Credit union, River Region C.U., and Louisiana Federal C.U. I deal with the Fireman's Credit Union, reduced my loan by 3%, then my Wife went and did the same on her car.

 

[Mike D Texas]

As long as people are willing to pay what they are asking the prices will not come down.

Until people stop paying their stupid inflated prices and vehicles start sitting on lots, why would they drop their prices?


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[180ls1]

As long as people are willing to pay what they are asking the prices will not come down.

Until people stop paying their stupid inflated prices and vehicles start sitting on lots, why would they drop their prices?


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Yup, this thread is a good example of why we haven't had a true correction. Look at how many are financing, re-financing, and trading in indebted vehicles.

 

[CorbLand]

Yup, this thread is a good example of why we haven't had a true correction. Look at how many are financing, re-financing, and trading in indebted vehicles.

It cant be helped along that we printed about 25% of the money supply in the last 4 years and about 50% in the last 15. Too much money, chasing the same amount of goods...

The last time we saw similar situations was the 70/80s. Prices stagnated, they didnt really fall. I think many are banking on this happening more than a correction.

 

[grfox92]

I’m just busting your stones!

I’d drive a Subaru to the elk woods in a heartbeat.

Like this?

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[180ls1]

It cant be helped along that we printed about 25% of the money supply in the last 4 years and about 50% in the last 15. Too much money, chasing the same amount of goods...

The last time we saw similar situations was the 70/80s. Prices stagnated, they didnt really fall. I think many are banking on this happening more than a correction.

Yup, that is a significant contributor as well.

 

[CorbLand]

Yup, that is a significant contributor as well.

Its pretty much what I am banking on. I really dont foresee a massive correction. I think we will stagnate out, wages will slowly rise to meet needs and in 10 years we will all be talking about the good ol days of 3.00 dollar gas and 40,000 dollar brand new pickups.

But I am below average so take it with a cup of salt.

 

[tim tarras]

The prices will not drop until after I buy one for my son. Then they will drop like a rock.