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Thread: Car prices -- New and Used

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    Car prices -- New and Used

    I was recently helping someone search for a car. I have noticed that car prices have absolutely skyrocketed since mid 2009. Has anyone else noticed the same thing? Or am I off base?

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    Vulture of The Western World Eric's Avatar
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    Quote Originally Posted by swamprat View Post
    I was recently helping someone search for a car. I have noticed that car prices have absolutely skyrocketed since mid 2009. Has anyone else noticed the same thing? Or am I off base?
    I can tell you for a fact that many 2010 new cars have slightly lower MSRPs than their '09 equivalents (assuming no major year to year differences in the car itself). I noticed this when doing write-ups of several of my recent test cars.

    Now, used car prices seem to be higher. For example, last summer I bought a 2002 Nissan Frontier with 59k on it for $7,100. I looked around recently and could not find anything comparable for less than $10,000. And the value of my '98 4x4 pick-up appears to have gone up significantly. Similar trucks with about the same mileage are being advertised for sale in the $5,000 range. A year ago, the typical asking price was between $3,500 and $4,000 or so....

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    Senior Member grouch's Avatar
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    Quote Originally Posted by Eric View Post
    I can tell you for a fact that many 2010 new cars have slightly lower MSRPs than their '09 equivalents (assuming no major year to year differences in the car itself). I noticed this when doing write-ups of several of my recent test cars.

    Now, used car prices seem to be higher. For example, last summer I bought a 2002 Nissan Frontier with 59k on it for $7,100. I looked around recently and could not find anything comparable for less than $10,000. And the value of my '98 4x4 pick-up appears to have gone up significantly. Similar trucks with about the same mileage are being advertised for sale in the $5,000 range. A year ago, the typical asking price was between $3,500 and $4,000 or so....

    I've got a friend who sells used cars. He's actually fairly honest so he doesn't make a lot of money but he gets by. I bought my Taurus from him and he's told me several times that if I sell it, I can probably make a profit on it. What he told me is the recent clunker offer removed a lot of used cars that would flood the market. Henry Ford used to do the same thing by crushing every Model T that was traded in. This removed them from the used car market. Toyota does something similar. They like to lease the Lexus cars. This lets them control the used car market and keep used car prices high. That's why a copy of a Mercedes can command a premium price even though it's just a slightly fancier Toyota.
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