Why are used cars so expensive right now? • Hacker News Board

Re: Why are used cars so expensive right now?

#31

Post by chrisan » Sun, Jul 25, 2021, 10:20 PM UTC

emerged wrote: post #16

Is it a good time to sell a used car and buy a new car? Or are the new cars equally as inflated?

you certainly won't be finding a deal new. friend of mine's father owns a group of dealerships in the town, they have people going to other dealers paying MSRP just to have inventory on their lots and sell for more obviously

Re: Why are used cars so expensive right now?

#32

Post by toomuchtodo » Sun, Jul 25, 2021, 10:21 PM UTC

xeromal wrote: post #28

Now's the time to sell a car if you have an extra to spare. One of the few times in history when cars actually appreciate. A car I bought for 53k 4 years ago I could've sold for 55k last week until I got cold feet. lol

I’ve had folks who found out I’m about to take delivery of a Model Y offer me ~$10k over list if they can buy it immediately after I take delivery. It’s insane.

(we’re keeping it of course)

Re: Why are used cars so expensive right now?

#33

Post by pxeboot » Sun, Jul 25, 2021, 10:21 PM UTC

JKCalhoun wrote: post #5

jeffbee wrote: post #2

I like that everyone readily understands the supply/demand phenomenon as it relates to the price of used cars, but many people are unable or unwilling to grasp the relationship between the supply of new houses and the prices of used houses.

New car shortage was explained by a chip shortage. What is the reason new housing starts are not keeping top with demand?

It can take years to get new housing developments approved, by the time they can start building, the demand may have leveled off or disappeared.

Re: Why are used cars so expensive right now?

#34

Post by thedougd » Sun, Jul 25, 2021, 10:21 PM UTC

JKCalhoun wrote: post #5

jeffbee wrote: post #2

I like that everyone readily understands the supply/demand phenomenon as it relates to the price of used cars, but many people are unable or unwilling to grasp the relationship between the supply of new houses and the prices of used houses.

New car shortage was explained by a chip shortage. What is the reason new housing starts are not keeping top with demand?

Cheap money. Low lending rates are driving people to buy new (to them) houses. You'll also find unprecedented demand for renovations as people take cash out with refinances to fund their improvements.

Re: Why are used cars so expensive right now?

#35

Post by andy_ppp » Sun, Jul 25, 2021, 10:23 PM UTC

So cars, wood + building supplies, labour, food, shipping all dramatically increased. What’s the best hedge against hyperinflation? Crypto? Ether?

Re: Why are used cars so expensive right now?

#36

Post by toomuchtodo » Sun, Jul 25, 2021, 10:24 PM UTC

andy_ppp wrote: post #35

So cars, wood + building supplies, labour, food, shipping all dramatically increased. What’s the best hedge against hyperinflation? Crypto? Ether?

Equities and real estate. Housing and cash flows never go out of style.

Re: Why are used cars so expensive right now?

#37

Post by granshaw » Sun, Jul 25, 2021, 10:24 PM UTC

andy_ppp wrote: post #35

So cars, wood + building supplies, labour, food, shipping all dramatically increased. What’s the best hedge against hyperinflation? Crypto? Ether?

https://www.lynalden.com/inflation/

Re: Why are used cars so expensive right now?

#38

Post by elliotec » Sun, Jul 25, 2021, 10:24 PM UTC

emerged wrote: post #16

Is it a good time to sell a used car and buy a new car? Or are the new cars equally as inflated?

New cars are not nearly as inflated. The answer to the first question is yes, it's a very good time to sell old and buy new. One stipulation is that ordering a new vehicle with specifications they don't have on the lot will take in the realm of 6 months. Pretty big trade off, but I'm about to deal with this myself and can afford the time difference.

Re: Why are used cars so expensive right now?

#39

Post by xeromal » Sun, Jul 25, 2021, 10:24 PM UTC

toomuchtodo wrote: post #32

xeromal wrote: post #28

Now's the time to sell a car if you have an extra to spare. One of the few times in history when cars actually appreciate. A car I bought for 53k 4 years ago I could've sold for 55k last week until I got cold feet. lol

I’ve had folks who found out I’m about to take delivery of a Model Y offer me ~$10k over list if they can buy it immediately after I take delivery. It’s insane. (we’re keeping it of course)

Haha. Mine is a Model S. It's my baby so of course I couldn't sell it. I had just posted it for shits and giggles at a ridiculous price but I guess people are desperate.

I'll sell it once my Cybertruck preorder is ready! haha`

Re: Why are used cars so expensive right now?

#40

Post by holoduke » Sun, Jul 25, 2021, 10:25 PM UTC

paulpauper wrote: post #22

Almost everything is expensive now. Look how much assets in general have gone up: stocks, real estate, collectibles, commodities, and so on. College, healthcare, and insurance too. No reason cars should be an exception.

Exactly. Nobody dares yet to tell it's inflation.