Anyone else think used car prices are outrageous

[buckeye4rnr]

I'm starting to look for a "new" truck or suv because a sports car isn't cutting it anymore and I'm blown away by how stupid some of these prices are.

One of my buddies just bought an 05 Explorer with 65,000 miles on it for $6,500 but that exact same car is priced AT LEAST $4,000 higher in every single ad I've found anywhere near Colorado. One dealership here said their bottom price is $13,000 for it.

I know Toyota's hold their value well but I've seen used Tacoma's with over 100,000 miles and an asking price of $20,000... the new price fully loaded is less than $35,000 with 0 miles on it. How can a truck only lose $15,000 of value over 10 years and 100,000 miles?

[jmg8550]

Perfect example of market dictating price. If people are willing to pay stupid prices, the price stays ridiculously high.

[sp1tty]

Which is weird, because when I was selling a truck a couple of years ago I couldnt give it away. It was a clean 2005 Toyota Tacoma with the V6, Auto, 110k miles, and I was selling it for 13,500. I got 3 phone calls in a months time. I ended up trading it in. :/

I realize that the economy was in shambles, but I figured being priced 3-4k under similar trucks would have for sure moved it very quick.

[ruthabagah]

Agreed.

And because there isn't that much recent used car available you also have to deal with the used car salesman attitude..... The same folks who were begging for a job 6 month ago are back in their jack@ss habits.

In the other hand, if you have a car for sale this is the moment: I posted a 2006 4 runner for sale on Craigslist on a Tuesday night for 15k thinking I would let it go for 14500. It was sold and gone by Wednesday Morning full price!

[Rooskibar03]

Thank cash for clunkers for taking many a used car off the market before its time and totally jacking up the new car sales.

You are also in truck buying season here in Colorado. Been selling for 11 years and see it every year. April everyone dumps trucks and SUVs because of gas prices. On the fall they all buy them back.

[bigshane]

Thank cash for clunkers for taking many a used car off the market before its time and totally jacking up the new eta: and used car sales.


+1 for this, not to mention the used-parts market taking a hit, now and in the future, for all those thousands of cars taken out of the natural cycle prematurely.

[CO Hugh]

Thank cash for clunkers for taking many a used car off the market before its time and totally jacking up the new car sales.

You are also in truck buying season here in Colorado. Been selling for 11 years and see it every year. April everyone dumps trucks and SUVs because of gas prices. On the fall they all buy them back.

Thanks Barack Kardashian, save America.

[buckeye4rnr]

Thank cash for clunkers for taking many a used car off the market before its time and totally jacking up the new car sales.

You are also in truck buying season here in Colorado. Been selling for 11 years and see it every year. April everyone dumps trucks and SUVs because of gas prices. On the fall they all buy them back.


Luckily I'm just researching at the moment and I'm not ready to buy anything just yet, thinking spring. Hopefully prices will come down by then.


Which is weird, because when I was selling a truck a couple of years ago I couldnt give it away. It was a clean 2005 Toyota Tacoma with the V6, Auto, 110k miles, and I was selling it for 13,500. I got 3 phone calls in a months time. I ended up trading it in. :/

I realize that the economy was in shambles, but I figured being priced 3-4k under similar trucks would have for sure moved it very quick.


Too bad I wasn't in the market then because I'd love a Tacoma, especially one at that price.

[Goodburbon]

as has been said.

cash for clunkers.

Unintended consequences.

[Irving]

I want to sell my Amigo, and now is the time, but I want another truck to replace it. Woe is

[Fromk]

I'd be curious to see if anyone else experienced this. I got a '94 4Runner last year. It was in this strange window where it was above blue book but below $5000. I could NOT get an auto loan from my bank to buy it. I know if I wanted to spend a lot more I could have gotten one very easily. I'm curious if other banks/credit unions/whatevers encourage people to spend more money and therefor allows used cars to go for more money.

I wound up getting a non-descript personal line of credit for it but I still felt like I was being punished for trying to live within my means.

[porfiriozg]

Car prices went way up after obamas cash for clunkers[Rant1][Bang]

[Great-Kazoo]

The other part of the equation is you the consumer. If you allow the sales dept to get you in a corner you loose. Go in ,tell them after browsing and they have said "my sales mgr said this is the lowest we can go" You will think about it and walk out.
They will either follow you to the door or mgr will intervene. let them know if you wanted to play games with price and monthly payment you would have purchased at dealer x this morning.
Then tell them this is where you want to be price wise and a monthly payment no more than $XX.xx

After that keep quiet. The first person who talks next looses.
read the fine print, finance paperwork and remember you don't need or want the stain resistant coating the put on the interior for $400!

[jerrymrc]

A year and a half ago I spent 2 months looking for a clean 00-03 Grand Prix for the wife. I found one but it took a little luck to get it @ $5K.


I'd be curious to see if anyone else experienced this. I got a '94 4Runner last year. It was in this strange window where it was above blue book but below $5000. I could NOT get an auto loan from my bank to buy it. I know if I wanted to spend a lot more I could have gotten one very easily. I'm curious if other banks/credit unions/whatevers encourage people to spend more money and therefor allows used cars to go for more money.

I wound up getting a non-descript personal line of credit for it but I still felt like I was being punished for trying to live within my means. Better to just get a sig loan for that amount. To much hassle with appraisal and transfer of the title etc....


Then tell them this is where you want to be price wise and and the payment will take care of itself

FIFY :)

[MED]

Car prices went way up after obamas cash for clunkers[Rant1][Bang]

Cash for clunkers was a total disgrace! All it did was replace the manufacturer’s rebates with a government subsidy, find another creative way to spend money we don’t have, leave several dealers high and dry (some out of business), and destroy many perfectly good vehicles. Like mentioned before, all of those vehicles were taken out of the market before their time both as operating vehicles and parts vehicles. ABSOLUTELY STUPID!!!

I generally always find a really good deal on my vehicles. Although, I am also not impacted by the “consumer mark-up” got to have it. I generally buy vehicles that do not demand a premium market value; my wife and I drive 50-60 thousand miles a year so we drive them into the ground.

Also, dealers are always shocked when I walk out on them. When I purchased my wife’s Jeep, they wouldn’t listen to me, I walked, purchased from one that did listen, and I came back to the first dealership to buy something stupid at the parts counter. I made a point to say to the sales staff, “… Hey, like my new Jeep!”

There is always a deal out there…you just need to be patient. If you got to have it, and got to have it today…you will get screwed every time.

[porfiriozg]

You can also try auctions, just make sure you have some who can check out the car before biding starts. [Beer]

[Rooskibar03]

Or you can take advice from someone who's been selling for a long time and not be a douche towards your sale guy. Customers make buying a car much more difficult on themselves then they need to by following your advice.

Do some research on the car you want to buy and know the market. If your budget is 10k then look at car at or near 10k. Don't shop for 18k cars and expect us to come down just because that's all you can afford.

Average return on a used car is under 2 grand after the car has been reconditioned and made fit for sale. Car is priced more so there is "wiggle room" cheaper cars will have less margin.

Know that older cars (ie 06 and older in the eyes of the banks) will not offer financing more then 48 months and the rate willbe higher than what you want to hear. If you belong to a credit union it's better for older cars.

Unless you are writing a check the whole "don't discuss payment" thought process towards car buying is stupid. FACT-99% of the people I talk to have no idea how much a car payment is. No, you cannot buy a 50k car for 400 per month.

Cheap math for a 60 month car purchase.
200 per month = 10k financed
300 per month = 15k financed
400 per month = 20k financed

Best advice. Start with Internet department. Typically people there are more seasoned and work under a different set of standards. This gives you a chance to develope a relationship with someone before you go into the store. If you dont click with the sales person, call back and ask to speak with the used car manager. Shop the person as much as you shop the car. I sell 6 figure vehicles sight unseen over the phone because I take the time to develope a relationship with my clients.

Best advice if your treat me decent I'll return the favor. Treat me like a lesser human being and we are both going to dislike the process.



The other part of the equation is you the consumer. If you allow the sales dept to get you in a corner you loose. Go in ,tell them after browsing and they have said "my sales mgr said this is the lowest we can go" You will think about it and walk out.
They will either follow you to the door or mgr will intervene. let them know if you wanted to play games with price and monthly payment you would have purchased at dealer x this morning.
Then tell them this is where you want to be price wise and a monthly payment no more than $XX.xx

After that keep quiet. The first person who talks next looses.
read the fine print, finance paperwork and remember you don't need or want the stain resistant coating the put on the interior for $400!

[Rooskibar03]

Also, dealers are always shocked when I walk out on them. When I purchased my wife’s Jeep, they wouldn’t listen to me, I walked, purchased from one that did listen, and I came back to the first dealership to buy something stupid at the parts counter. I made a point to say to the sales staff, “… Hey, like my new Jeep!”

Don't worry, the sale guy at a Jeep dealer isn't to worried about the $100 mini commission he didn't get on your deal. All you are doing is ensuring your status a second class citizen when you come back. Common decenancy goes both ways.

[funkymonkey1111]

and fukashima.

i bought a 3 year old used car in 07. in '10, the kelly blue book value was higher than what i paid for it (which was the KBB value at the time)

[T-Giv]

I know Toyota's hold their value well but I've seen used Tacoma's with over 100,000 miles and an asking price of $20,000... the new price fully loaded is less than $35,000 with 0 miles on it. How can a truck only lose $15,000 of value over 10 years and 100,000 miles?

A buddy of mine just picked up a Tacoma with 140k...paid 16k for it. I was like [Slap].

[Ah Pook]

as has been said.

cash for clunkers.

Unintended consequences.
I don't think it was unintended.

Take a chunk of the used car market out of circulation.
Used car prices go up closer to new pricing.
Consumer spends the extra for new.

Same thing for parts.


I've been looking for a used commuter and can't find anything "realistic".

[RonMexico]

In a bad economy used prices go up cause people cant afford newer or dont have good credit. Simple economics. This is why i charge $200 more a month for my rental, cause people Arent buying homes, plus millions of Americans have f credit from foreclosures

[Great-Kazoo]

Or you can take advice from someone who's been selling for a long time and not be a douche towards your sale guy. Customers make buying a car much more difficult on themselves then they need to by following your advice.

Do some research on the car you want to buy and know the market. If your budget is 10k then look at car at or near 10k. Don't shop for 18k cars and expect us to come down just because that's all you can afford.

Average return on a used car is under 2 grand after the car has been reconditioned and made fit for sale. Car is priced more so there is "wiggle room" cheaper cars will have less margin.

Know that older cars (ie 06 and older in the eyes of the banks) will not offer financing more then 48 months and the rate willbe higher than what you want to hear. If you belong to a credit union it's better for older cars.

Unless you are writing a check the whole "don't discuss payment" thought process towards car buying is stupid. FACT-99% of the people I talk to have no idea how much a car payment is. No, you cannot buy a 50k car for 400 per month.

Cheap math for a 60 month car purchase.
200 per month = 10k financed
300 per month = 15k financed
400 per month = 20k financed

Best advice. Start with Internet department. Typically people there are more seasoned and work under a different set of standards. This gives you a chance to develope a relationship with someone before you go into the store. If you dont click with the sales person, call back and ask to speak with the used car manager. Shop the person as much as you shop the car. I sell 6 figure vehicles sight unseen over the phone because I take the time to develope a relationship with my clients.

Best advice if your treat me decent I'll return the favor. Treat me like a lesser human being and we are both going to dislike the process.


That's you this is me. I know what i want, how much monthly and what my down stroke
When i go in and look at vehicle x with these options don't steer me in to a vehicle with $5k more in acc that i have no need for, DVD for kids etc, Wheel package because ordering one without will take a few weeks to get in, OR tell me with my credit i can afford to upgrade to a loaded package for only $250 more per month.
AND when i tell you for the 3rd time I'M JUST LOOKING TODAY, you lost the sale.
Some don't, some do and loose customers.

ETA: I'v already been on line and know what i am looking for, is on your lot as well as 3 other dealers along the front range.

[XC700116]

Don't worry, the sale guy at a Jeep dealer isn't to worried about the $100 mini commission he didn't get on your deal. All you are doing is ensuring your status a second class citizen when you come back. Common decenancy goes both ways.

I don't understand the thought that some dealers have that think that because I go into their dealership to LOOK and PRICE a vehicle that I'm somehow required to buy it from them. Facts are facts and if I can get the same vehicle somewhere else for less $$ Guess what, I'm going to buy it there.

I priced a new truck a while back and simply put the deal wasn't going to work so the dealership acted like I stole from them when I didn't buy the damned thing from them. They couldn't match the other dealers deal and called me a liar when I told them the price I got from the other guy. So guess what, I walked out the door and went back to the first dealer and laid my money down. They treat me like crap and they receive in kind. I'm the one dropping $35K on a new truck, they should be happy to have my business and resist the urge to call me a liar when the guy down the street beat their price.

Car salesmen have largely earned their reputations, I've dealt with few that haven't and I continue to go back to them when I can. If place number 2 wouldn't have wasted my time by trying to rake me and just gave me their bottom dollar price it would have wasted a LOT less of my time and theirs.

[buckeye4rnr]

So I was up pretty late last night looking for SUVs/trucks... what do you guys think of the Nissan Xterra, Ford Explorer, and Toyota Rav4? I'm looking at cars from the 2002-2010 range and that I can spend less than 15k on but ideally less than 10k.

If I can get a truck for 10k I'm pretty confident that I can sell my current car for 9-10k and hopefully keep doing this forever to avoid a payment.

I also need a decent body shop to pull a dent out of my drivers side door because some jackass ran into my car and left.



Also, I'll be using the truck for mostly outdoor activities so there will be some offroading involved but nothing too intense as I'm going to avoid most of the rough trailheads for 14ers and I'll need room to toss my mountain bike in the back.

[BigNick73]

Also, I'll be using the truck for mostly outdoor activities so there will be some offroading involved but nothing too intense as I'm going to avoid most of the rough trailheads for 14ers and I'll need room to toss my mountain bike in the back.

You given any thought to keeping your sports car as the daily driver and getting a beater for the outdoor stuff? I was going to sell my wrx and buy a nice 4x4 a year ago and instead bought a 89 full size bronco for $2500. Parts are cheap I just replaced the motor a couple weeks ago (cost about $2000) and there's no note and I don't worry about tearing it up.

I'll probably have 10 grand in the thing before it's over and done with, but its a toy rather than my primary means of transportation.

[buckeye4rnr]

You given any thought to keeping your sports car as the daily driver and getting a beater for the outdoor stuff? I was going to sell my wrx and buy a nice 4x4 a year ago and instead bought a 89 full size bronco for $2500. Parts are cheap I just replaced the motor a couple weeks ago (cost about $2000) and there's no note and I don't worry about tearing it up.

I'll probably have 10 grand in the thing before it's over and done with, but its a toy rather than my primary means of transportation.

Yeah I've definitely considered it but I can walk to work so I'm not sure the extra insurance and parking spot($35/month) is quite worth it. On the other hand... I know my current car will last at least another 100k miles unless I get in an accident so I'm pretty torn on what to do.

[BigNick73]

Yeah I've definitely considered it but I can walk to work so I'm not sure the extra insurance and parking spot($35/month) is quite worth it. On the other hand... I know my current car will last at least another 100k miles unless I get in an accident so I'm pretty torn on what to do.

Ahh paying for parking. The insurance is nothing, just get liability only, mine runs about $300 a year plus $100-$150 for the tag.

[kidicarus13]

Don't worry, the sale guy at a Jeep dealer isn't to worried about the $100 mini commission he didn't get on your deal. All you are doing is ensuring your status a second class citizen when you come back. Common decenancy goes both ways.

In this case I wouldn't be back.


Car salesmen have largely earned their reputations, I've dealt with few that haven't and I continue to go back to them when I can. If place number 2 wouldn't have wasted my time by trying to rake me and just gave me their bottom dollar price it would have wasted a LOT less of my time and theirs.

Everyone knows that the majority of salesmen play games with numbers and emotions. If I could find one that didn't I may become a repeat customer but after many, many vehicle purchases I have yet to find a salesman at a dealership or car lot not willing to play the numbers game.

As a buyer I'll tell you what I want that's sitting on your lot and ask for the bottom dollar after doing my research. If I know I can get it somewhere for less money I will buy from them. Don't come chasing after me or calling on me two days later because you now have a mortgage payment to worry about.

[Sharpienads]

Cash for clunkers and like somebody else said, just like rent prices, people can't afford to by new so they have to buy used and used prices go up.

In my experience, the only time the salesman has been a douche was when we tried to buy a car we really couldn't afford. Well, we could afford it, but it wouldn't have been a financially sound decision. Other than that, if you have the money and/or credit, there's no reason for the guy to be a jerk. But that's my experience, and I've never bought a car here in CO.

[brutal]

Funny read.

I bought my last 2 new vehicles with so much less stress and hassle. Granted, I generally factory order specific option packages+, but these two came from dealer stock optioned at 99% of what I was looking for; both had an extra option I didn't really need.

#1. Stopped at two dealers on route during my travels. 1st dealer had the car I wanted (mostly) but a smug attitude and wouldn't even talk on price. Fine, move to dealer#2 down the road. They flat out lied about financing options. Fine, contact out of town (45 miles) dealer via internet/fleet sales. Three phone calls and a few days search later and he ended up getting the car from the 1st dealer on swap for the price and financing options I wanted. First time we met, I merely signed the paperwork, he took me through the car features, and I drove it off the lot. They also swapped wheels/tires over to the factory setup I wanted, not what came on the car.

#2. Went through a broker, got the best deal going, and they handled everything; my old truck trade-in at a great price, financing with a great CU rate, and even getting the Line-X sprayed in and 5th wheel hitch installed.

Using a broker is where it's at on new vehicles. The cost can be covered by the better deal they will get you based on their volumes and dealer relationships. You'll get all the same incentives and much less hassle. They do all the leg work for you and it didn't cost me a dime more than if I trudged through all the BS myself.

[Great-Kazoo]

In this case I wouldn't be back.



Everyone knows that the majority of salesmen play games with numbers and emotions. If I could find one that didn't I may become a repeat customer but after many, many vehicle purchases I have yet to find a salesman at a dealership or car lot not willing to play the numbers game.

As a buyer I'll tell you what I want that's sitting on your lot and ask for the bottom dollar after doing my research. If I know I can get it somewhere for less money I will buy from them. Don't come chasing after me or calling on me two days later because you now have a mortgage payment to worry about.


Going in with that attitude and the salesman will think you're a douche[ROFL1]

[buckeye4rnr]

Funny read.

I bought my last 2 new vehicles with so much less stress and hassle. Granted, I generally factory order specific option packages+, but these two came from dealer stock optioned at 99% of what I was looking for; both had an extra option I didn't really need.

#1. Stopped at two dealers on route during my travels. 1st dealer had the car I wanted (mostly) but a smug attitude and wouldn't even talk on price. Fine, move to dealer#2 down the road. They flat out lied about financing options. Fine, contact out of town (45 miles) dealer via internet/fleet sales. Three phone calls and a few days search later and he ended up getting the car from the 1st dealer on swap for the price and financing options I wanted. First time we met, I merely signed the paperwork, he took me through the car features, and I drove it off the lot. They also swapped wheels/tires over to the factory setup I wanted, not what came on the car.

#2. Went through a broker, got the best deal going, and they handled everything; my old truck trade-in at a great price, financing with a great CU rate, and even getting the Line-X sprayed in and 5th wheel hitch installed.

Using a broker is where it's at on new vehicles. The cost can be covered by the better deal they will get you based on their volumes and dealer relationships. You'll get all the same incentives and much less hassle. They do all the leg work for you and it didn't cost me a dime more than if I trudged through all the BS myself.

What broker did you use and can I ask how much you paid them?

[brutal]

What broker did you use and can I ask how much you paid them?

H.M. Brown. Cost was built into the deal. My gal isn't there anymore, this was quite a few years back.

They hooked me up with Rocky Mountain CU [edit, oops, I meant Red Rocks CU] for the financing.

[buckeye4rnr]

H.M. Brown. Cost was built into the deal. My gal isn't there anymore, this was quite a few years back.

They hooked me up with Rocky Mountain CU for the financing.


Just checked out their site, doesn't look too bad. Would you use them again especially if you had a car you were trying to unload or would you do the legwork yourself?

[Great-Kazoo]

Just checked out their site, doesn't look too bad. Would you use them again especially if you had a car you were trying to unload or would you do the legwork yourself?


If you are a AAA member or belong to a credit union, they have buyers that do the leg work for you. Check with your bank and see who they deal with too.

[buckshotbarlow]

hell, i looked at the dealer auction with my neighber (dealer) and frigg'n new expeditions are a better deal then wholesale...

2012 expedition limited 4x4 wholesale with 20k miles = 38k
2012 expedition on lot, with for discounts = 45k

wtf?

[Great-Kazoo]

hell, i looked at the dealer auction with my neighber (dealer) and frigg'n new expeditions are a better deal then wholesale...

2012 expedition limited 4x4 wholesale with 20k miles = 38k
2012 expedition on lot, with for discounts = 45k

wtf?


Check to see if they are an in state or out of state unit. If in state how long? There have always been vehicles from flood area that make their way across the country to some unsuspecting "new" owner.

[brutal]

Just checked out their site, doesn't look too bad. Would you use them again especially if you had a car you were trying to unload or would you do the legwork yourself?

I would use them again if I was looking to buy new, with or without a trade.

If you're asking about just using them to unload a used car, I can't really say.

[brutal]

If you are a AAA member or belong to a credit union, they have buyers that do the leg work for you. Check with your bank and see who they deal with too.

Yes, this ^^.

At the time AAA Colorado was a client and even their insider "deal" wasn't as good. If I had belonged to a CU, I would have gone that route and will consider it in future since I kept the overpayment funds in a savings account @the CU.