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A glut has used-car depreciation accelerating

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Re: A glut has used-car depreciation accelerating

#191

Post by ethbro »

justinph wrote: post #182

Sure, as far as basic transportation goes, but you can't get the vastly improved safety features in a used car that you can in most new cars today. Buy a new Toyota? It comes with automatic emergency braking, collision avoidance, blind spot detection, adaptive cruise control, and built-in backup camera, standard. Buy a used 2014? It has none of that. I just bought a new car for the first time in my life. The safety o…

$10k premium + accelerated depreciation

And in 3 years, I'll have all those features on my used Toyota. ;)

Re: A glut has used-car depreciation accelerating

#192

Post by Hasz »

beambot wrote: post #185
Hasz wrote: post #178

Earlier quoted context omitted.

Liquid cancer? C'mon, that's a bit extreme. Getting down to the point, can you imagine the political fallout from crushing the value of a gas car? It's a truck sized political landmine, and no party is willing to touch that thing with a hundred foot stick. Gas still has significant advantages that electric has yet to match. Worst gas has 53x the specific energy of the best Li-ion, and even with a hundred % efficient…

I mean... if you drink gasoline, you probably will get cancer.

I'd argue eating a battery would end in a similar fashion.

this is a link https://www.nih.gov/news-events/news-releases/seven-substanc... to a Health and Human Services 14th Report on Carcinogens, classifying cobalt as a carcinogen

Point being, "liquid cancer" is fear-mongering hyperbole -- lots of things are carcinogenic.

Re: A glut has used-car depreciation accelerating

#193

Post by LeifCarrotson »

gutnor wrote: post #119
hwillis wrote: post #98

Earlier quoted context omitted.

Do you have any reason to believe that? Almost all car charging is done at night, when grid load is far lower. Charging will not be a problem, and there is no material shortage likely in the near future.

Brand new flat or house built today in Madrid, Spain are fitted at best with a 20A connection. The standing charge alone is more than what I pay for electricity (standing charge and consumption) in a 2 bed flat in London. The vast majority of flat and house I have seen in Spain have 15A or 20A. That includes city, and country houses. It is a cost cutting measure rather than an infrastructure limitation (people chose…

Seriously, 20A? How do you even run an air conditioner on that, much less an entire house? 200A (at 240V split phase) is standard here in the Midwestern US. It's easy and cheap to get more if you want a better connection, such as for an EV or a home shop with welders and large motors.

Re: A glut has used-car depreciation accelerating

#194

Post by aaronblohowiak »

gutnor wrote: post #119
hwillis wrote: post #98

Earlier quoted context omitted.

Do you have any reason to believe that? Almost all car charging is done at night, when grid load is far lower. Charging will not be a problem, and there is no material shortage likely in the near future.

Brand new flat or house built today in Madrid, Spain are fitted at best with a 20A connection. The standing charge alone is more than what I pay for electricity (standing charge and consumption) in a 2 bed flat in London. The vast majority of flat and house I have seen in Spain have 15A or 20A. That includes city, and country houses. It is a cost cutting measure rather than an infrastructure limitation (people chose…

20A? In USA, 200A is not uncommon. Some cities in the bay have 100A service minimum in their building code..

Re: A glut has used-car depreciation accelerating

#195

Post by sundvor »

justinph wrote: post #182

Sure, as far as basic transportation goes, but you can't get the vastly improved safety features in a used car that you can in most new cars today. Buy a new Toyota? It comes with automatic emergency braking, collision avoidance, blind spot detection, adaptive cruise control, and built-in backup camera, standard. Buy a used 2014? It has none of that. I just bought a new car for the first time in my life. The safety o…

My Mazda 3 Astina (sedan, mt) which I bought in 2015 as an ex demo 2014 has all of the AEBs, dynamic cruise controls etc. (You forgot to mention rear cross traffic alert, which is brilliant.)

I bought it specifically for these features.

Re: A glut has used-car depreciation accelerating

#196

Post by wmeredith »

ethbro wrote: post #191
justinph wrote: post #182

Sure, as far as basic transportation goes, but you can't get the vastly improved safety features in a used car that you can in most new cars today. Buy a new Toyota? It comes with automatic emergency braking, collision avoidance, blind spot detection, adaptive cruise control, and built-in backup camera, standard. Buy a used 2014? It has none of that. I just bought a new car for the first time in my life. The safety o…

$10k premium + accelerated depreciation And in 3 years, I'll have all those features on my used Toyota. ;)

And if you buy a used luxury sedan, you can have all that stuff now. Go pick up a 2006 Lexus LS430 with 150,000 Mike's on it for $10,000; they were $70k new and have all those whizbang safety features and it's a Toyota Avalon underneath. You can put 400,000 miles on them if you treat them right.

You can do the same thing with the big German luxury sedans, but upkeep will be more. Those aren't Toyotas underneath. It's still pretty reasonable for the amount if car you get; just budget for it.

Re: A glut has used-car depreciation accelerating

#197

Post by aphextron »

wbracken wrote: post #109

Tangentially in the business. Two recent stories told to me: 1) Saw at Manheim Auto Auction (one of the largest) 300 Nissan Leafs run through the auction line in one afternoon ahead of some of our cars. Drop in "value" of leafs went down 10%+ in one day. All were recently off lease. 2) For similar reason, Santander is holding 4000+ cars on auction lots "waiting for pricing to stabilize". Reality is, when they run tho…

Leaf is a special case because of the battery degradation issues. 100k miles on a Leaf is basically end of life (unless you buy the $5k battery replacement). That being said, you can pick one up in California for $5k in perfect condition with Definitely a niche thing for heavy urban areas that have the charging infrastructure though. I can't imagine owning one in the Midwest.

Re: A glut has used-car depreciation accelerating

#198

Post by brigade »

SilasX wrote: post #111

Hah! Just yesterday I was remarking how car gluts don't translate into lower consumer prices because the government quickly props up demand: https://news.ycombinator.com/item?id=15064436

The opposite really; cash for clunkers mostly just moved existing demand forward a year without increasing it in even the medium term. Rather, it did put a lasting dent in the supply of used cars, artificially increasing used prices.

Re: A glut has used-car depreciation accelerating

#199

Post by ams6110 »

justinph wrote: post #182

Sure, as far as basic transportation goes, but you can't get the vastly improved safety features in a used car that you can in most new cars today. Buy a new Toyota? It comes with automatic emergency braking, collision avoidance, blind spot detection, adaptive cruise control, and built-in backup camera, standard. Buy a used 2014? It has none of that. I just bought a new car for the first time in my life. The safety o…

Just more stuff to go wrong. I buy well-maintained cars about 7-10 years old. The newest car I own right now is a 2004.

Re: A glut has used-car depreciation accelerating

#200

Post by sliken »

Glyptodon wrote: post #60
hkmurakami wrote: post #18

Earlier quoted context omitted.

Could you tell us more? Was this in some niche segments of discontinued but popular models (like certain Subarus) or were run of the mill cars also like this?

I think it was circa 2012, and I may be exaggerating somewhat, but I particularly remember seeing new, lots-of-option Kia Souls selling for ~$18.5k new (window price) right next to used ones going for ~$18.5k used (window price) with nearly the same options on both. I think I also saw something similar with a few models of Honda, but my memory is most vivid with the Souls. And if memory serves, even when used was che…

Keep in mind that a new car dealer is the worst place to buy a used car. Of course the dealer over prices the used cars to make the new cars look good, that way new or used they make a good profit.
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