I was looking to buy a good used muscle car for the family this weekend. Their preferred was a Challenger. V8s way expensive and even v6's wanting the same price as a new car if it is 1 or 2 years old. 30k+ on a used v6.
Just updating that the market is still crazy on used cars 10years old or less.
https://wolfstreet.com/2021/10/07/us...ket-gone-nuts/
Over the first nine months of the year, the average resale value of a one-year old vehicle jumped by 25%, or by $7,759
Used vehicle wholesale prices spiked 5.3% in September from August, to a new record, according to Manheim this morning, the largest auto auction operator in the US and a unit of Cox Automotive. This spike in the Used Vehicle Value Index more than wiped out three months in a row of declines that had spread false hopes that the used vehicle craziness would finally abate.
The index is now up 27% from September last year when this craziness was already well underway. And it formed a record two-year spike of 46.4% from September 2019.
The sales conversion rate at the auctions rose throughout September and in the last week of September surpassed 66% compared to 52% in September 2019 as dealers were more aggressive at buying vehicles. This, according to Manheim, indicates that wholesale demand will likely remain strong through October:...