How the hell is my 2016 car I bought in 2019 worth more than I paid for it?

[KingBeez]

Inflation is a mf. I’ve been waiting for a year plus for cars to go down, but shyt is only getting worse the longer Covid, the semiconductor shortage, and supply chain being fukked up goes on

a 2014 Honda or Toyota with 100k miles goes for 12-15k in the bay

 

[Damba]

Chip shortage and not enough cars are on lots to meet demands. I get calls from the dealership basically begging me to sell back my 2018 Accord which is worth way more now than back then.

This^^^
I bought a 2021 Texas edition RST in 2020 and dealer called me wanting to buy it for 10k more than I paid for it.

 

[MR. SNIFLES]

IF YOU GOT AVAILABLE CREDIT, ORDER A HIGH PROFILE CAR ONLINE. TAKE DELIVERY AND SELL IT TO CARMAX FOR 5-7K OVER STICKER. DEALERS ARE SALIVATING TO GET NEW CARS WITH LESS THAN 100 MILES.

FOR EVEN CRAZIER RETURN, DO AN EV WITH THE 7.5K TAX CREDIT. YOU JUST NEED TO SIT ON THE CAR FOR 6 MONTHS.

 

[newarkhiphop]

IF YOU GOT AVAILABLE CREDIT, ORDER A HIGH PROFILE CAR ONLINE. TAKE DELIVERY AND SELL IT TO CARMAX FOR 5-7K OVER STICKER. DEALERS ARE SALIVATING TO GET NEW CARS WITH LESS THAN 100 MILES.

FOR EVEN CRAZIER RETURN, DO AN EV WITH THE 7.5K TAX CREDIT. YOU JUST NEED TO SIT ON THE CAR FOR 6 MONTHS.

 

[Doin2Much Williams]

Yeah, these are the times like a dru hill record.


.

 

[CrimsonTider]

KBB says my car is worth $21-24K in trade in and a new 2022 model of my same car sells for $26K.

How would the dealer even profit from such a transaction? If they gave me $21K on the low end for my car I could drive out of there with a new model for my same exact payment paying nothing out of pocket and I still owe $5.5K on mine. If they gave me the high end of that in trade in it would actually lower my payment.

My question is what they gonna do with the used car they got from me? Nobody is gonna pay that kinda money for it when I new one is a few thousand difference.

There isn’t any new car inventory

and there’s nothing wrong with buying a new car

 

[Ya Sinning Mane]

Cause I told them to op
Now where my rep at
It’s the least u could do

 

[hatealot]

IF YOU GOT AVAILABLE CREDIT, ORDER A HIGH PROFILE CAR ONLINE. TAKE DELIVERY AND SELL IT TO CARMAX FOR 5-7K OVER STICKER. DEALERS ARE SALIVATING TO GET NEW CARS WITH LESS THAN 100 MILES.

FOR EVEN CRAZIER RETURN, DO AN EV WITH THE 7.5K TAX CREDIT. YOU JUST NEED TO SIT ON THE CAR FOR 6 MONTHS.

My nikka!!!!

 

[R=G]

2022 Telluride is cheaper than the 2020/21 Telluride...life is a box of chocolates.

 

[winb83]

there’s nothing wrong with buying a new car

That's only true if you can afford the depreciation hit that typically comes with buying a new car.

 

[⠀X ⠀]

The used car market is fvcked up. Everything is going up tho. Real estate is crazy. Food is crazy expensive. Luxury watches are doubling in value in under a year... I hope this shyt crashes soon.

 

[Wink Beaufield]

My 4Runner might as well be gold right now. I can get 40k+ for it no questions asked but then I'd be out of a ride.

 

[JordanWearinThe45]

My 4Runner might as well be gold right now. I can get 40k+ for it no questions asked but then I'd be out of a ride.

That’s why I order a new car, or find another car and once you get either you sell. And if u get the right new car, u can sell that bytch too

 

[MikelArteta]

bought a brand new honda crv a few months ago last one on the lot

 

[CJ]

It really is wild right now.

My X5 50i MSport market value is about 5k over what I paid for it in Nov 2019, even with 35,000km more on it now lol. Have roughly 15K equity it in, but there's nothing to do. New cars are all MSRP + wait time. No one is playing ball because they know they can get the next person to pay list. It's different in Canada than the US as you can't sell above MSRP. But I noticed alot of dealers taking new cars here, putting 3,000km on them out the gate (non demo) sell it to a "customer" so that there is an owner on record, bring it back through the dealer and then mark it up since it's now used and you can mark it up to anything.

Trying to upgrade my wife's Escape and it's almost pointless getting into another used car. Although hers is benefitting from the market, these used cars at dealerships are not only adjusted for current market, but then marked up on top of that. So it's not even Apples to Apples like Real Estate. Used is such a gamble if the market corrects. Some people are going to take a serious bath on their vehicles and end up stupid upside down in a few years, beyond the usual. That negative equity rollover will not be pretty.

We have a 2022 R8 RWD incoming for July. I know I will be tempted to reflip, but I've waited too long to achieve this so will try to enjoy it. Already seen people selling theirs for 50k over MSRP after delivery. Basically same price as the AWD.