Used Vehicle Insights

[13COBRA]

Any advice on buying a used car in this market or should we just wait it out? My wife started a new job recently and drives hundreds of miles per day and I would like to get her something newer and more fuel efficient.

We shopped the last 3 weekends and the experience was horrible. She wants either an Accord or Insight with around 30k miles or less. Even used, they're priced around original MSRP.

Tried to buy a certified Insight with 13k miles and was willing to pay original MSRP and at the very last minute was told there's a "Dealer accessories fee" of $2,500 on every new car, used car or ordered car. No negotiation. Essentially floor mats and nitrogen filled tires. 2 separate trips the dealership and 4hrs of our time and that never came up in conversation.

Every dealer in my area has these same sort of fees and it is frustrating. Not to mention, used cars of good condition are few and far between.

Carvana seems more and more attractive at this point but I'm not sure I can trust the condition of the cars.

I'm not sure I have something in stock currently, but feel free to check it out.
www.chuckandersonford.com

I would start worrying about it once it actually shows symptoms. The CVT shouldnt go bad from one day to another, at least that wasnt the case with my friends car.

Used car market wont settle for a while like how it was. As someone posted, best bet is to order a new car or just wait it out the most you can. Prices have been decreasing every month.

Actually last month wholesale prices went up 1.4%.

 

[SHOdown220]

Any advice on buying a used car in this market or should we just wait it out? My wife started a new job recently and drives hundreds of miles per day and I would like to get her something newer and more fuel efficient.

We shopped the last 3 weekends and the experience was horrible. She wants either an Accord or Insight with around 30k miles or less. Even used, they're priced around original MSRP.

Tried to buy a certified Insight with 13k miles and was willing to pay original MSRP and at the very last minute was told there's a "Dealer accessories fee" of $2,500 on every new car, used car or ordered car. No negotiation. Essentially floor mats and nitrogen filled tires. 2 separate trips the dealership and 4hrs of our time and that never came up in conversation.

Every dealer in my area has these same sort of fees and it is frustrating. Not to mention, used cars of good condition are few and far between.

Carvana seems more and more attractive at this point but I'm not sure I can trust the condition of the cars.

We have a local carvana center near us that sends their Hondas to us for recalls and diag beyond their expertise. Honestly most of the cars are in pretty good shape, the ones that need repairs bigger repairs are typically done through the dealer.

Got a 2022 Accord Sport 2.0T in platinum white for my wife for like $1k more than used ones are going for that have 30k miles on them. Should be here next week...by the way, anyone who wants a gas saving but fun'ish DD, those cars are secretly awesome.

They almost make as much at the wheels as they advertise at the crank

We had to put an engine in a brand new off the truck 2022 2.0t touring accord a few weeks ago. Since my commute is the longest they asked me to drive it home after repairs to make sure nothing popped up. Loved that thing, super nice car and a lot of fun.

 

[Zemedici]

We had to put an engine in a brand new off the truck 2022 2.0t touring accord a few weeks ago. Since my commute is the longest they asked me to drive it home after repairs to make sure nothing popped up. Loved that thing, super nice car and a lot of fun.

what failed in the engine?

 

[BlueSnake01]

what failed in the engine?

+1 I've heard about the 1.5 having oil issues but not much on the 2.0's.

Currently looking at the RDX with the same 2.0 engine for the wife.

 

[SHOdown220]

what failed in the engine?

It was a one off issue. Had no oil getting to the top end. Tech noticed it making some pretty bad noises when it was first pulled in for PDI. We pulled the valve cover and it was completely dry. Had oil in the pan. We didn’t do any diag further than that, Honda requested the engine left alone and shipped back and sent us a replacement.

 

[CompOrange04GT]

@13COBRA

Over 1/4 million bucks?!

 

[DaBigBone]

View attachment 1753244@13COBRA

Over 1/4 million bucks?!

There's a GTS-R on BaT right now thats at $275k as well

 

[13COBRA]

View attachment 1753244@13COBRA

Over 1/4 million bucks?!

Rare combo, but high miles. Probably $240k at best.

 

[Fat Boss]

I pity the fool who buys my old Boss 302 lol. I know it's the second one I owned, as you can see where one of the fools that owned it before me "colored" the BOSS stitching on the Recaros red. SMH. Anyway, I was fool number 3 or 4 and sold it 7 1/2 years ago for $26k cash with 29k miles on it. At least it had an RST clutch it in when I sold it to buy my first house.

2012 Ford Mustang Boss 302 Coupe 2D - cars & trucks - by dealer -...

2012 Ford Mustang Boss 302 Coupe 2D Offered by: Armani Motors Roseville — — $32,495 Armani Motors Roseville Year: 2012 Make: Ford Model: Mustang Series: Boss 302 Coupe 2D VIN: 1ZVBP8CUXC5275946...

sacramento.craigslist.org

 

[SolarYellow]

what failed in the engine?

A johnson rod most likely.

 

[Mentos]

A johnson rod most likely.

 

[SolarYellow]

That sonofabitch has all the answers.

Speaking of cars, today I found out a dummy we know bought a Tucson a few months ago and is paying over $600 a month for it. There was no markup or anything.

 

[CompOrange04GT]

240sx sold for only 5k at Barret Jackson

Wonder if it’s finally falling apart

 

[13COBRA]

240sx sold for only 5k at Barret Jackson

Wonder if it’s finally falling apart

Nope.

 

[13COBRA]

Down about 7% from last year... Still up 28% over 2020.

 

[Zemedici]

240sx sold for only 5k at Barret Jackson

Wonder if it’s finally falling apart

What you did there

I see it

 

[BlueSnake01]

Down about 7% from last year... Still up 28% over 2020.

View attachment 1753657

Some dealers are coming down on prices near me on used cars by a nice marging. I've even seen some new cars selling for slight under MSRP.

I know the chart shows differently, but been seeing a nice difference from what it was 4 months ago around me

 

[13COBRA]

Some dealers are coming down on prices near me on used cars by a nice marging. I've even seen some new cars selling for slight under MSRP.

I know the chart shows differently, but been seeing a nice difference from what it was 4 months ago around me

Yes! Retail prices have started down.

10 years ago, we started seeing margin compression with retail prices coming way down to match the cost of dealer's purchasing. We continued that downward spiral until the pandemic.

Now, retail prices took off and the wholesale prices lagged some. Now with the costs of purchasing inventory being high, the retail side is starting to compress downwards.

 

[CompOrange04GT]

What you did there

I see it

Hoped someone would. Haha