In case you haven’t noticed the used car market is completely 17ed.

[Xenomorph]

I have a 15 year old that I need to be driving herself around come May ‘23. So I’ve already begun looking seriously at what vehicle I want to put her in.

Right now a 3-4 year old small sedan with less than 100K miles is nearly the same price as a new vehicle.

Three years ago I would said this was crazy but.. Unless the used car market implodes between now and February I’m going to a dealership and putting down a deposit for the exact car I want and waiting however long it takes to get it. That’s right.. a brand new car.. for a damn teenager.

No way hell I’m paying $25K for a 4 year old Honda Civic with 70k miles.

 

[Dawgpile]

Hang in there. All those cars bought with Covid money are coming back; An article I read says about 15k are getting repo'd every day.

 

[DesotoCountyDawg]

We traded over the weekend and it was just silly what they offered for ours and the salesman that I had been working with said ours was pretty much sold the day we brought it.

 

[patdog]

It’s insane. I think I’d get a car off the lot or a dealer swap instead of ordering one though. You may be waiting a long time for that car if you order.

 

[Smoked Toag]

Blame the coronabros, that caused it all. Things will probably start approaching normal in 2023.

 

[Seinfeld]

I think I’ve mentioned this before, but I was really interested in upgrading to a Hyundai Palisade until I realized that buyers were paying 10-15% over MSRP just to get on a waiting list.

I’ve driven the same Pathfinder for the last 13 years, and it sounds like I’ll be driven it a while longer

 

[DesotoCountyDawg]

Depends on make and model. Trucks are taking forever but some cars and SUVs are rolling out pretty quick.

 

[pmack3641]

Think used car prices are outrageous, try finding a used truck! Your looking at 30-40k for an older model with 150 thousand miles on it . New ones are even worse.

 

[DesotoCountyDawg]

We just bought a Palisade over the weekend paid about 600 dollars more than what they were last year. Just depends on the dealership.

We saw where they had some coming in and called and they had one that had not been claimed by someone and we put our name on it. This all happened in about a weeks time.

 

[horshack.sixpack]

Hadn't even considered demand side being inflated by COVID money. I guess because I can't imagine that little bit being enough to make me think I could suddenly afford something that I otherwise could not have.

 

[Go Budaw]

I have a 15 year old that I need to be driving herself around come May ‘23. So I’ve already begun looking seriously at what vehicle I want to put her in.

Right now a 3-4 year old small sedan with less than 100K miles is nearly the same price as a new vehicle.

Three years ago I would said this was crazy but.. Unless the used car market implodes between now and February I’m going to a dealership and putting down a deposit for the exact car I want and waiting however long it takes to get it. That’s right.. a brand new car.. for a damn teenager.

No way hell I’m paying $25K for a 4 year old Honda Civic with 70k miles.

Why not just give her whatever you (or your spouse?) is driving now, and get the new car for yourself?

 

[1msucub]

I have a 2020 F350 that I could sell today for $3000 more than I paid for it. It’s just stupid right now.

 

[Go Budaw]

I have a 2020 F350 that I could sell today for $3000 more than I paid for it. It’s just stupid right now.

I did a KBB quote on my vehicle for the first time in about 3 years. The price its showing now is about $1000 MORE than it was 3 years ago (when it also had about 45,000 fewer miles). Just dumb.

 

[57stratdawg]

Buy new and hand the little one the left over? I think COVID killed auto inventories. It was headed downhill pre-COVID and hasn’t stopped. I put down a deposit the other day - “Spring 2023 estimated delivery date”.

Trade in quote was just short of what I paid for it in Dec 2019. I’m guessing the dealers asking price will be higher than my purchase price.

 

[Hugh's Burner Phone]

My daughter turns 15 this weekend, but she isn't getting a car yet. New or used. I told her so long as I am stuck driving a 2004 Ram 2500 with 316,000 miles ain't nobody else getting anything.

 

[Cousin Jeffrey]

Hadn't even considered demand side being inflated by COVID money. I guess because I can't imagine that little bit being enough to make me think I could suddenly afford something that I otherwise could not have.

The problem is that most people are idiots. Especially with money.

 

[Xenomorph]

Mine’s a company ride… wife’s really isn’t suited for a high school girl, else I’d do it in a heartbeat.

 

[greenbean.sixpack]

I have a 15 year old that I need to be driving herself around come May ‘23. So I’ve already begun looking seriously at what vehicle I want to put her in.

Right now a 3-4 year old small sedan with less than 100K miles is nearly the same price as a new vehicle.

Three years ago I would said this was crazy but.. Unless the used car market implodes between now and February I’m going to a dealership and putting down a deposit for the exact car I want and waiting however long it takes to get it. That’s right.. a brand new car.. for a damn teenager.

No way hell I’m paying $25K for a 4 year old Honda Civic with 70k miles.

Yes, buy new. I was in the same predicament a few months ago. Ending up buying a new 2022 Civic SI for $33kish. I was checking dealer websites daily and caught this one inbound and put a deposit on it. Had to wait about two months for it to arrive. It was a manual, but that's what the boy wanted and if Life 360 is accurate, it will absolutely fly.

 

[horshack.sixpack]

I don't care who you are, this is funny!

View attachment 24860

 

[Go Budaw]

Mine’s a company ride… wife’s really isn’t suited for a high school girl, else I’d do it in a heartbeat.

Define “suited for a high school girl”.

My definition is that the airbags, seat belts, and brakes work, and all the tires have air in them.

 

[Xenomorph]

It’s a little nicer ride than I’m willing to turn over to my daughter.

 

[ababyatemydingo]

Hang in there. All those cars bought with Covid money are coming back; An article I read says about 15k are getting repo'd every day.

I think you're right. I've seen recovery agents riding all through Walmart parking lots with tow trucks with the quick get away setup. And a lot of roll backs with new looking vehicles on them.

 

[ababyatemydingo]

Hadn't even considered demand side being inflated by COVID money. I guess because I can't imagine that little bit being enough to make me think I could suddenly afford something that I otherwise could not have.

Loose financing and using Covid money for down payments.

 

[ababyatemydingo]

Blame the coronabros, that caused it all. Things will probably start approaching normal in 2023.

I hope so. I need a truck bad. Mine is running on fumes

 

[Go Budaw]

It’s a little nicer ride than I’m willing to turn over to my daughter.

Ha. Fair enough.

 

[Faustdog]

I had never in my life purchased a brand new vehicle out of principle. That changed a couple of months ago for the reasons in your post.

I put down a deposit on the day the dealer found out they were getting the vehicle with the specs I was looking for. It took about six weeks to come in.

I traded in the vehicle I purchased when it was one year old in 2020. The trade in value was $3000 more than I paid for it after putting 40k miles on it in two years.

 

[DawgInThe256]

We bought a new car for our 15 year old back in 2019. Our reasoning is that we wanted her to have the latest safety features like CarPlay, lane assist, etc. We let her learn on our beater, and used "her" new car for family trips to keep the miles off of ours.

Now she has 3 year old car with 30K miles on it at college, and it kept the miles off our other cars. Unfortunately, they could both stand to be replaced but I just can't justify paying the premium right now.

 

[fang]

Had to get 2 for twin daughters prior to freshman year last year - not fun (different schools). My criteria was FSBO, preferably one owner and the wife threw in the paramount "S" word (safety). that made the search more difficult, LOTS of time/effort but I did it. If you're up on FB (or have access), you can find some there but the deals go quick. you're starting early, that's good because if you want it bad, you get it bad.

 

[mstateglfr]

Our oldest is 15.5 and will have the ability to drive to school and sports in 1 month since she passed Driver's Ed and the License driving test. She is supposed to get my Honda Pilot, but we have struggled to find a new vechicle. I was going to then take my wife's and she would get the new one. We want a vechicle with high MPG since she puts the most miles on each week.

EVs by Hyundai, Kia, and Toyota are not sold in my state right now due to them being allocated to states with CARB-style laws.
We called 3 local/in-state Honda dealers about a Honda CRV Hybrid and the shortest lead time is 14 months. Toyota dealers have longer wait times for RAV4 Hybrids.
We called 12 dealers in the Chicago area about a Toyota RAV4 Hybrid- 8 wont sell to out of state residences, 2 are booked out until mid-Winter, and the 2 that will sell to us are charging 20% over MSRP. We were granted the opportunity to buy a RAV4 Hybrid for $48,948 and take delivery in 2 weeks. Damn near $50k for a RAV4 quality vehicle really made me pause. Thats the type of car the girls in college drove when they couldnt get Daddy to buy them a 4Runner.

I am guessing we will just go with an ICE compact utility vehicle like a Subaru Crosstrek or something similar that gets 30mpg combined. Those are $36,500 right now since the local Subaru dealer is only getting the highest trim level available. Awesome.***

I would buy a 4 year old compact SUV for myself and just drive that for a couple years because I dont actually give a 17 what I drive, but when actual examples with 40,000 - 65,000mi cost only $3000 less than the same vehicle new, I am not going to pull that trigger.

 

[aTotal360]

I just cleaned out my 401k for a 2002 Pontiac Aztek. **

 

[047Dog]

I have a 15 year old that I need to be driving herself around come May ‘23. So I’ve already begun looking seriously at what vehicle I want to put her in.

Right now a 3-4 year old small sedan with less than 100K miles is nearly the same price as a new vehicle.

Three years ago I would said this was crazy but.. Unless the used car market implodes between now and February I’m going to a dealership and putting down a deposit for the exact car I want and waiting however long it takes to get it. That’s right.. a brand new car.. for a damn teenager.

No way hell I’m paying $25K for a 4 year old Honda Civic with 70k miles.

New driver in my house as well. Luckily I had a contact at one of the car dealerships and he was able to buy the car that a person was planning to trade in and didn't charge me the dealer markup since I bought it directly from him. I luckily was able to get a mid/late 2000s Pilot for less than 7k.

My elderly parents can no longer drive and both their Pilot lease and my Accord lease were expiring. I was able to buy their low mileage Pilot and use all the equity to get the price into the low 20s. I could walk in today to Carmax and sell it for 37k. It would be worth it if new car prices weren't out of control right now.

 

[Go Budaw]

I just cleaned out my 401k for a 2002 Pontiac Aztek. **

Hope you got the Walter White Preferred Accessory package.

 

[turkish]

Really? You’re not reminded of the laughable near-sightedness, irresponsibility, and financial illiteracy of the American populace on a daily basis?

 

[LeeroyJenkins.sixpack]

My wife's car had timing belt break and warp the valves four years ago. Replacing engine was going to cost more than vehicle was worth. Held on to the car as family member offered to attempt to repair, but didn't get anywhere with that. Now, in today's market, we'll have equity in the car. At the shop getting repaired. Un-be-lieveable.

Next decision is how long do I let my 16 yo drive it before selling it. Not sure what else will start falling apart after sitting 4 years. Also expect the value to plummet when vehicles become available.

 

[Xenomorph]

Yep.. there’s the real reason I refuse to over pay for a used vehicle right now. The example I gave.. the 2019 Honda Civic for $25K is going to be valued at $16K the moment manufacturing catches up.

 

[thatsbaseball]

Not that it matters but are the "new" cars that are coming available now "fresh off the assembly line" or were they assembled earlier and been parked waiting for chips ?

 

[GloryDawg]

We have a 1996 Mazda Miata sitting in the garage with only 100K miles. Bought new for my wife in 1996. We were offered 16K for it a few weeks ago. Wife turned it down.

 

[SyonaraStanz]

My wife ordered an SUV in June of last year. The dealership claims the build hasn’t been pulled. She bought another vehicle since ordering, but I was hoping to trade it in when the ordered vehicle builds and ships.

 

[PooPopsBaldHead]

We have a 1996 Mazda Miata sitting in the garage with only 100K miles. Bought new for my wife in 1996. We were offered 16K for it a few weeks ago. Wife turned it down.

Tell the truth. You don't want to sell it because you like to bench press it with the garage door open for all the neighbors to see.**

Live shot of GloryDawg driving his wife's car...

View attachment 24863

 

[dudehead]

I have a 15 year old that I need to be driving herself around come May ‘23. So I’ve already begun looking seriously at what vehicle I want to put her in.

Right now a 3-4 year old small sedan with less than 100K miles is nearly the same price as a new vehicle.

Three years ago I would said this was crazy but.. Unless the used car market implodes between now and February I’m going to a dealership and putting down a deposit for the exact car I want and waiting however long it takes to get it. That’s right.. a brand new car.. for a damn teenager.

No way hell I’m paying $25K for a 4 year old Honda Civic with 70k miles.

Give her a $300 to $500 Uber allowance and skip the car, insurance, gas and other headaches of ownership.