Quote:
Originally Posted by SAADTHESAV
Hate to revive an old thread, but what does everyone think of the car market now?
It's been around 6 weeks since this thread has been made.
Any new thoughts? Still think the used car market will crash?
I've been in the market for an m4 and I still see used m4's going off the shelf at a pretty fast rate. I really have seen no change in price and the buyers market compared to pre corona.
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Check this out:
https://www.karglobal.com/march-apri...et-conditions/
They say April's 16.3% Y/Y drop is the largest price drop in wholesale used vehicles, ever.
Though you can see in that chart that Sports cars only dropped 12% while luxury cars, compact, and midsized cars dropped the most at 22%.
This is just a preview of what will happen to actual off-the-lot used car values as it takes time for everything to trickle down. Dealers are listing cars for normal prices plus a little incentive to test the waters, see who bites. But if there's no takers then prices will slowly fall until someone buys it. Then when they go back to the auction to buy more cars, they will offer less because the last one sold for less, then they list it for less, and so on until prices hit rock bottom. Should take a few months.