Used car prices in 2024

[basstracker89]

First in a word, Bidenomics.....................If you think car prices are high, don't look at houses.................Or anything else for that matter...........

 

[greg vess]

I think it is smart to spend money maintaining and repairing the quality rust free vehicle you currently own than it is to replace it with a ridiculously expensive new or new to you used vehicle.

Toyota built their reputation on making vehicles that were far more reliable and durable than the competition, so it always struck me as odd when the sales manager would offer me a new vehicle to test drive while my old Toyota was in for factory recommended service. I am already sold on Toyota reliability and durability, so the smart thing for the sales manager to do is use my long term experience as a testimonial to convince other people to trade in their non-Toyota brand for a new or used Toyota and not try and move me into a newer vehicle.

I sell new and used cars and I won't buy anything but a used car off an individual that bought it new and kept it pristine.

 

[greg vess]

Better hurry, in a week there may not be anything left.........

That's a classic " Family Truckster ". Vag wagon indeed. With a nice patina!

 

[GFB]

In 2023 a lady said she paid a third of what she bought her house for for a minivan.

I'm not sure what that shows. How much did she pay for the van?

You paid about $34,000 for that Ford in 1987, adjusted for inflation. They're about $47,000 now, but it's a completely different car. Cars now have so much more than they did 30+ years ago and that cost is going to be passed on to the consumer. It's too much for me considering what it is.

 

[Horsehat]

I was just sitting here watching the news and they're saying that the 2024 supposed to be a decent year for used car sales again. In 2023 a lady said she paid a third of what she bought her house for for a minivan. And I believe it the prices of used cars were through the roof and you couldn't find anything worth the darn good to buy. Even high mileage 10-year-old vehicles were selling for record prices and being in the used business and being a car salesman before I just couldn't believe what I was seeing. The prices of older high mileage cars were astronomical and I thought I would never see that day.

Well for 2024 used car prices are supposed to level out and the inventory is supposed to be increased. Also for new cars deal actually manufactures are offering incentives $130% more than previous years. This information here is what really got me. They said " They average cost for a new car would be $47,000 and the average cost of a used car would be $26,000. ". People if I'm hearing that right 26,000 for a used car is absolutely nuts. You could buy a real nice new minivan in 2002 for $26,000. You can buy a new Jeep for 26,000. And you could buy a real nice used Mercedes-Benz for $26,000 in 2002 or a Dodge Dakota. That reminds me of what I paid for my brand new Mustang GT for my 21st birthday in 1987. My parents didn't buy it for me but they did cosign for me and that car was $12,725 tax, tag and title, out the door. I just cannot believe how much cars have gone up over the years. We are at the point now where a used car is more than twice the price of a brand new car was in 1987. Just sit and think about that for a minute, that's ungodly!

I use to see the shock on my parents and in laws face when they heard the price of various things. having been retired 8 years I am beginning to get that same shocked feeling. Paying for things in 2024 prices with money earned in 2015, with almost no interest earned along the way, sucks. I am seriously considering getting a part time job if I can find one.

 

[greg vess]

I use to see the shock on my parents and in laws face when they heard the price of various things. having been retired 8 years I am beginning to get that same shocked feeling. Paying for things in 2024 prices with money earned in 2015, with almost no interest earned along the way, sucks. I am seriously considering getting a part time job if I can find one.

I hear ya there. I feel for ya. I really do.

 

[greg vess]

I was always able to find a steal on used cars. When I traded a two year old Ford Bronco 2 door well I sold it I mean and I need a Minivan with a 2nd child on the way I found one. In 2003 I found a 2001 Dodge caravan with 31,000 miles on it and it was spotless. Those vans stickered new for 23,500 I paid 7,500 cash for it and it was 2 years old.
When I totaled my 2002 Ram Quad cab graphite with 20 inch wheels and all the goodies I was devastated. It was my father's truck he gave to me after he died. That was in 2020 or 2021 and insurance gave me 7,500 for it. I looked for 2 months and looked at every truck like that one on the market and they were all selling for $15,000 or more for the same truck. Just out of sheer luck I found this one and it wasn't even being advertised. Itst one I'm driving now it's a 2004 GMC Sierra SLE. It's a standard cab and has a camper shell on it but it had 42,000 miles and it was pristine. I mean that truck looked like it just came off a lot. The old man handed me a stacked towels that 2 ft deep and said this is what I put on the interior to keep it from getting dirty so I took them out and washed them for you. But I paid 8,000 for that truck. I stole that truck cuz right after I looked at the book and the book on it was 14,500 at that time. Anyways I still have it, it still looks like brand new, doesn't have a door ding on it and I'm going to drive it till the wheels fall off. I think it has 85,000 miles on it now. I baby this truck and it rides like a new one. A good used vehicle is the only way to go. New cars are just a bad investment all the way around. No two ways about that.

 

[greg vess]

I didn't do need to replace the headlights in it you can buy new ones for song and a dance for domestic trucks and cars. I think $74 get you both sides. Or I could do that cerakote stuff and do that route for a little cheaper.

 

[H2O MAN]

I sell new and used cars and I won't buy anything but a used car off an individual that bought it new and kept it pristine.

Yes sir, and I will even consider a one owner vehicle even if it's a little less than pristine if the price is right.

In 2017 bought my current daily driver 2007 Tundra for $5,000 when it was easily worth $15,000 back then.

 

[coolformula]

In 2017 bought my current daily driver 2007 Tundra for $5,000 when it was easily worth $15,000 back then.

Amazing deal. I see junk 2nd gens for 15k.

It seems both cars/houses been under a crunch. People can't buy new so the used market is squeezed.

Hoping 2024 returns things closer to a normal. So many people and families need reliable transportation, and last 2-3 years have not been friendly to those needs.