Used Car Prices Keep Getting More Shocking

[anotero]

Doug Demuro was on the smoking tire this week and they briefly talked about car prices. They were pretty much saying people still have it in their head that these are just 'inflation prices', but they both think this is what the price of cars is going to be now.

I only feel bad for people that don't already have a vehicle. The increased price on whatever you're buying is pretty much canceled out by the increased price on what you own.

The prices are up, people are paying those prices, and profits are better than ever. Why would they bring down prices?

From what I've seen in my industry the demand is far exceeding the supply and that's not entirely because the supply is lower than previous years. The supply may be down like 10% and there's a longer delay, but the demand is up so high I don't even know how to put a number on it. Everything is sold out 6-12 months out when normally we have about 50 units in stock. Even if supply was exactly the same as it was in 2018-2019 we'd still have no way to keep up with demand.

You see the same thing in other industries. It's impossible to buy a ps5 and after the same amount of the time they've sold more ps5's than ps4s. There weren't any problems getting a ps4 a year after release, but it's impossible to get a ps5 or xsx because the demand is that crazy. Graphic card shipments increased by 25% this year and even with that additional supply they're still impossible to get.

The only solution I can see right now is people need to stop buying shit as often as they do. Do you really need a brand new car every 2-3 years? Do things like phones and graphics cards really need to be replaced every year?

Also, I just want to remind everybody how much of a scam the last big factory (foxconn) that was supposed to be built in america and how it failed. I'm not sure why people were excited about another chinese factory that would just under pay and abuse workers rights in the first place, but it doesn't matter anymore. You can't expect the type of presidents that we've been voting in to get something done or do what's right. It's not just the presidents, but the people around them. They're all going to protect their own way of life, and their way of life is doing pretty damn good right now. If there's anything in the last few years I've seen is that nobody you vote for is going to improve your life.

Exactly the same situation as with the ammunition market. Everyone was buying the "we are trying, but the pandemic" bullshit until it was revealed the ammo market is monopolized. Really, why do anything if people are paying double/triple?

 

[GTIfan99]

Want to fix the issue, stop buying shit you don't need at prices you can't afford.

You're welcome.

 

[kyLman]

WE ALREADY DRILL OUR OWN OIL, THE OIL COMPANIES EXPORT IT.

It would absolutely be socialist to force them to sell that oil only in the US.

Again, it doesn't matter, oil is a commodity. If you don't understand what that means and why it's important, you should probably just stop talking.

Why are you getting so upset that you are internet yelling? Go outside.

Biden admin stopped several leases on domestic drilling, asked Russia and foreign producers to up production to sell to us, cancelled domestic fracking & has permanently frozen all NEW exploration and development auctions in regards to oil/gas. Doesn't take much effort to read up on this.

The sum total of these actions is to discourage any new expansion of U.S. production and any attempt to regain the levels of production achieved by 2019, when the United States became a major exporter of crude oil and refined products and of natural gas.

Domestic production supply went down, but demand went up = price inflation.

Why are we arguing this? Do you have a problem with being incorrect in your assessment, comrade?

 

[shovelhd]

First, 25% of corporations pay 0%. Second, there's a difference between statutory rate and effective rate.

This is why we can't fix anything. Americans don't understand the most basic tax concepts.

You underestimate Americans.

I don't know where you got the 25%, but I'll take your word for it. They get to this point because of politicians and their lobbyists spending millions of dollars to create loopholes. The current tax code is like swiss cheese, and it's going to get much worse if that $6T social justice bill passes.

Clinton wanted to regulate and tax the internet, and the masses screamed. Yet you have Amazon who pays virtually no tax by building their worldwide empire into a global monopoly. There's no checks and balances.

 

[jimlloyd40]

Doug Demuro was on the smoking tire this week and they briefly talked about car prices. They were pretty much saying people still have it in their head that these are just 'inflation prices', but they both think this is what the price of cars is going to be now.

I only feel bad for people that don't already have a vehicle. The increased price on whatever you're buying is pretty much canceled out by the increased price on what you own.

The prices are up, people are paying those prices, and profits are better than ever. Why would they bring down prices?

From what I've seen in my industry the demand is far exceeding the supply and that's not entirely because the supply is lower than previous years. The supply may be down like 10% and there's a longer delay, but the demand is up so high I don't even know how to put a number on it. Everything is sold out 6-12 months out when normally we have about 50 units in stock. Even if supply was exactly the same as it was in 2018-2019 we'd still have no way to keep up with demand.

You see the same thing in other industries. It's impossible to buy a ps5 and after the same amount of the time they've sold more ps5's than ps4s. There weren't any problems getting a ps4 a year after release, but it's impossible to get a ps5 or xsx because the demand is that crazy. Graphic card shipments increased by 25% this year and even with that additional supply they're still impossible to get.

The only solution I can see right now is people need to stop buying shit as often as they do. Do you really need a brand new car every 2-3 years? Do things like phones and graphics cards really need to be replaced every year?

Also, I just want to remind everybody how much of a scam the last big factory (foxconn) that was supposed to be built in america and how it failed. I'm not sure why people were excited about another chinese factory that would just under pay and abuse workers rights in the first place, but it doesn't matter anymore. You can't expect the type of presidents that we've been voting in to get something done or do what's right. It's not just the presidents, but the people around them. They're all going to protect their own way of life, and their way of life is doing pretty damn good right now. If there's anything in the last few years I've seen is that nobody you vote for is going to improve your life.

Almost everything you mentioned comes back to the chip shortage.

I'll leave politics out of it because I don't want this thread to get ruined.

 

[shovelhd]

Almost everything you mentioned comes back to the chip shortage.

I'll leave politics out of it because I don't want this thread to get ruined.

Looks like it's been moved to off-topic.

Have at it.

 

[jimlloyd40]

Nothing will solve this supply issues, it has taken decades to get to this point. And will take decades to correct.

You're not arguing in good faith, comrade. Stay safe, fam.

It's going to take time obviously but there are several large chip production facilities being built now that will come online in 2023-24.

 

[ElectricEye]

One thing I do know, is that I scored when I picked up my son's first car - a CPO'd 2018 Mazda3 with under 36,000 miles for $14,197 in September 2020.
Just beat the insanity.
If I had to car hunt for him now, things would be ridiculously awful.

 

[dtfd]

Looks like it's been moved to off-topic.

Have at it.

Let's get weird.

 

[sterkrazzy]

One thing I do know, is that I scored when I picked up my son's first car - a CPO'd 2018 Mazda3 with under 36,000 miles for $14,197 in September 2020.
Just beat the insanity.
If I had to car hunt for him now, things would be ridiculously awful.

My sister wants a car. I don't think she should be on the road at all. She's going to be a huge liability and end up in an accident that she won't know how to handle emotionally, and who the hell knows how she'll react.

Thankfully current prices are an extra obstacle that'll keep her off the road.

 

[mrmatto]

One thing I do know, is that I scored when I picked up my son's first car - a CPO'd 2018 Mazda3 with under 36,000 miles for $14,197 in September 2020.
Just beat the insanity.
If I had to car hunt for him now, things would be ridiculously awful.

Are you me? I bought the same car with the same mileage for the same price at the same time. WTF.

Was it a Machine Grey manual Grand Touring?

 

[ElectricEye]

My sister wants a car. I don't think she should be on the road at all. She's going to be a huge liability and end up in an accident that she won't know how to handle emotionally, and who the hell knows how she'll react.

Thankfully current prices are an extra obstacle that'll keep her off the road.

Wow! That's a tough situation.
Covid ramifications to the rescue.

 

[ElectricEye]

Are you me? I bought the same car with the same mileage for the same price at the same time. WTF.

Was it a Machine Grey manual Grand Touring?

No, it's just a Sport model - and it's blue.
I would have liked a higher trim but I couldn't pass it up.
Besides, it's a far nicer car than I had at age 19.
Or age 30 for that matter.

 

[GTIfan99]

You underestimate Americans.

I don't know where you got the 25%, but I'll take your word for it. They get to this point because of politicians and their lobbyists spending millions of dollars to create loopholes. The current tax code is like swiss cheese, and it's going to get much worse if that $6T social justice bill passes.

Clinton wanted to regulate and tax the internet, and the masses screamed. Yet you have Amazon who pays virtually no tax by building their worldwide empire into a global monopoly. There's no checks and balances.

I posted a link in my comment, so no need to take my word for it.

I'm not sure how a tax increase on corporations to pay for the things corporations need to function is a social justice bill.

 

[GTIfan99]

Why are you getting so upset that you are internet yelling? Go outside.

Biden admin stopped several leases on domestic drilling, asked Russia and foreign producers to up production to sell to us, cancelled domestic fracking & has permanently frozen all NEW exploration and development auctions in regards to oil/gas. Doesn't take much effort to read up on this.

The sum total of these actions is to discourage any new expansion of U.S. production and any attempt to regain the levels of production achieved by 2019, when the United States became a major exporter of crude oil and refined products and of natural gas.

Domestic production supply went down, but demand went up = price inflation.

Why are we arguing this? Do you have a problem with being incorrect in your assessment, comrade?

You think Biden should have honored Trump's leases for drilling in our national parks and preserves? What kind of sicko are you?

And again, ignorance is a choice. We are pumping oil at historic levels. It's almost like we keep track of this kind of stuff so you don't have to be ignorant, but Americans choose ignorance everytime.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=A

You don't like Biden because you've imagined Biden cut oil production, even though he hasn't and I don't like Biden because he isn't cutting oil production.

Better yet, we still subsidize oil.