Posted on 02/18/2023 1:33:13 PM PST by CFW
Used car prices have soared, recording the largest February increase in 14 years, according to reports.
The spike in prices comes as inflation continues to drive consumer prices.
Wholesale used-vehicle prices increased 4.1 percent from January through the first half of this month, signifying the largest February increase since 2009’s full-month 4.4 percent gain, according to the mid-month Manheim Used Vehicle Value Index from Cox Automotive.
This comes just a month after markets were hit with a massive rise in used car prices, according to the Manheim Used Vehicle Value Index.
The used vehicle index rose to 234.0, down 7.3 percent from the entire month of February 2022, as seasonal adjustment drove a small part of the gains.
(Excerpt) Read more at slaynews.com ...
My definition of “reasonable” was comparable to pre-Covid prices (say 10% higher).
The dealer had dozens of new cars in that range.
The market has shifted quickly (in a good way) in the last month or so—worth checking out...
My definition of “reasonable” was comparable to pre-Covid prices (say 10% higher).
The dealer had dozens of new cars in that range.
The market has shifted quickly (in a good way) in the last month or so—worth checking out...
Remember driving around with a broken clutch cable until you got around to fixing it? My ‘69 van broke a couple of clutch cables a year.
Well said Bernard. Good advice!
My 20 year old beater is being sold in lots for MORE than I paid when I bought it used 15 years ago.
My mom and uncle had Mavericks and I was sure it would be my first car.
Maybe I'll get one of the new Maverick hybrid trucks.
If priced in real money instead of funny money, the new mustangs are a real steal now compared to the 66.
Try working out the gold price, for instance.
Inflation is the devaluation of money. Ultimately, it is supply and demand with regards to money exclusively but with special circumstances. Printing money or increasing M2 takes just a pen whereas drilling for oil, producing more of a product takes real effort and labor and expense.
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