Looking at cars for sale, just for fun. Last time I looked at cars was in2009. Is it just me, or are used cars selling for waaay more now than they were before? I don't remember having any problems finding cars <4yrs old, with <50k miles, for <$10k. Now it seems like those same cars now 4 years later, 4years older, with twice as many miles as they had, are selling for more than they were selling for back then. When I put $10k filter on my searches, I'm getting low end makes, >10 yes old. WTH?
Price of cars
- Thread starter strantor
- Start date
On the same token, people aren't buying new cars, which means there are fewer used cars available. Supply and demand raise the prices, I know around here the car lots are not stocked nearly as well as before.
As unemployment rose in mid-2008, people have postponed their new car purchase (or new car lease). 15 to 16 Million cars sold up to 2007 in the US. Drop to 9M in 2009 and recovering each year since then.
The same number of vehicle-miles have been driven each year throughout the recession but the reduced number of new cars entering the market in recent years means fewer used cars are available now - and higher used car price.
The price delta is even slightly exaggerated because the last time the OP was looking, there was a glut of used cars on the market. According to JD Edwards, the average car in 2007 finished its life by getting DRIVEN to a junk yard/recycling center by a dealer or owner with 15 to 20% of economical miles left in the vehicle. Since 2009, most cars were TOWED to junkyards.
You've likely noticed a surge in abandoned cars along the interstates after the recession. abandon cars were a rare site in 2007. Abandon cars are evidence that a growing number of cars are now driven until their last economical mile.
The same number of vehicle-miles have been driven each year throughout the recession but the reduced number of new cars entering the market in recent years means fewer used cars are available now - and higher used car price.
The price delta is even slightly exaggerated because the last time the OP was looking, there was a glut of used cars on the market. According to JD Edwards, the average car in 2007 finished its life by getting DRIVEN to a junk yard/recycling center by a dealer or owner with 15 to 20% of economical miles left in the vehicle. Since 2009, most cars were TOWED to junkyards.
You've likely noticed a surge in abandoned cars along the interstates after the recession. abandon cars were a rare site in 2007. Abandon cars are evidence that a growing number of cars are now driven until their last economical mile.
