Not Logged In Log In   Sign Up   Points Leaders
Follow Us    9:59 PM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Used-car prices end wild ride down the road Back to Topics
mastermariner

Champion Author
Texas

Posts:12,718
Points:1,082,995
Joined:Jun 2011
Message Posted: Jan 4, 2013 12:48:01 PM

While used-car depreciation has been all over the map the last five years, prices have stabilized recently and are expected to remain stable for the next few years. Stable rates of depreciation for used cars help consumers get a good idea of what their cars will be worth when they are ready to sell or trade for a new car. Similarly, used-car buyers can budget more effectively for a car they plan to purchase in the coming years, knowing that, on average, prices will be similar to what they are right now. There is one exception: pickup trucks. They will continue to experience more dramatic fluctuations.
In recent years, car owners were often surprised at their car's value when it came time to sell or trade. The year 2008 had the highest rate of used-car depreciation in the last 20 years
Visit Bank rate for full article
REPLIES (newest first) Post a Reply
Profile Pic
CheapDiesel
Champion Author Indianapolis

Posts:1,523
Points:255,725
Joined:Nov 2005
Message Posted: Jan 5, 2013 6:33:47 PM

In this economy, if you own it, it is worth less, if you want to buy it, the price is going through the roof.
Profile Pic
blupupher
Champion Author Houston

Posts:6,164
Points:1,346,935
Joined:Feb 2011
Message Posted: Jan 5, 2013 9:41:28 AM

my 2005 van is worth $3000 less than 2 years ago, almost 1/2 its value.
Profile Pic
07skydriver
Champion Author Ohio

Posts:5,560
Points:1,578,100
Joined:Feb 2009
Message Posted: Jan 5, 2013 8:53:48 AM

I have an '04 and an '07 that are worth more now then they were three years ago. It doesn't matter because I would never sell them anyway.

TurkishMan: The election proved it's not the economy. Unless you're IN Turkey.
Profile Pic
TurkishMan
All-Star Author Dallas

Posts:739
Points:182,500
Joined:Jan 2013
Message Posted: Jan 5, 2013 2:59:24 AM

it is economy
Profile Pic
iFueler
Champion Author Durham

Posts:75,098
Points:788,150
Joined:Nov 2012
Message Posted: Jan 5, 2013 2:00:51 AM

time to check the yellow book and the book book too

[Edited by: iFueler at 1/5/2013 2:02:47 AM EST]
Profile Pic
JohnofGB
Champion Author Flint

Posts:8,044
Points:1,705,495
Joined:Feb 2010
Message Posted: Jan 5, 2013 12:37:38 AM

As new car sales go up, used car prices come down.
Profile Pic
pleinyeux
Champion Author Montreal

Posts:2,946
Points:770,165
Joined:Oct 2012
Message Posted: Jan 5, 2013 12:06:50 AM

2002 not bad
Profile Pic
TomT2Lee
Champion Author Cincinnati

Posts:6,474
Points:1,988,095
Joined:Sep 2005
Message Posted: Jan 4, 2013 10:39:30 PM

Painful side effects easing some from another deadly government program: cash 4 clunkers (aka taxpayers be damned).
Profile Pic
rcornel
Champion Author San Diego

Posts:2,003
Points:699,000
Joined:Jun 2012
Message Posted: Jan 4, 2013 10:17:38 PM

Wow... interesting info.
Profile Pic
ExplorerWA
Champion Author Washington

Posts:6,012
Points:1,325,335
Joined:Feb 2011
Message Posted: Jan 4, 2013 9:54:31 PM

I keeping mine and pray hyper-inflation passes by but it won't.
Profile Pic
truvoice1
Champion Author San Diego

Posts:1,924
Points:793,850
Joined:Feb 2011
Message Posted: Jan 4, 2013 9:14:06 PM

I will try to hang on my clunker with its 250,000+ miles until they have to pry the keys out of my cold, dead, hands after I die...........
Profile Pic
BuckyTJones
Champion Author Salt Lake City

Posts:5,437
Points:1,136,780
Joined:Mar 2010
Message Posted: Jan 4, 2013 9:11:32 PM


Actually everything has had a wild ride for the past 4 years. Housing, jobs, food, gas, and common sense.
Profile Pic
NHLiveFree
Champion Author New Hampshire

Posts:14,106
Points:2,217,490
Joined:Jun 2008
Message Posted: Jan 4, 2013 9:04:29 PM


Actually dropping due to the glut of 'totaled' vehicles from Sandy disaster.
Profile Pic
bwatchingu
Champion Author Arkansas

Posts:4,338
Points:1,214,025
Joined:Jan 2009
Message Posted: Jan 4, 2013 6:31:46 PM

Cash for Clunkers was the reason for the big spike in the price of used vehicles.A lot of useable vehicles were destroyed-what a waste in more ways than one.
Profile Pic
JDchefF
Champion Author Lancaster

Posts:1,509
Points:332,895
Joined:Aug 2012
Message Posted: Jan 4, 2013 6:30:43 PM

Interesting info.
Profile Pic
kag2010
Champion Author Winnipeg

Posts:7,670
Points:1,606,610
Joined:Apr 2010
Message Posted: Jan 4, 2013 6:26:26 PM

Interesting..
Profile Pic
skinsfan125
Champion Author Virginia

Posts:2,641
Points:628,360
Joined:Jul 2010
Message Posted: Jan 4, 2013 6:23:50 PM

interesting story, when you take a car to a shop, they hook it to a computer to see how the car is performing, kind of like you are bringing the space shuttle to them or something.
Profile Pic
highdesertman
Champion Author Albuquerque

Posts:4,953
Points:2,264,435
Joined:Mar 2005
Message Posted: Jan 4, 2013 5:55:22 PM

It still comes down to supply and demand in the used car market, so it pays to buy a reliable car with a proven track record for retaining its value, keeping it clean and properly maintained, and treating it gently. It will both give you better service while you have it and fetch more at trade-in time.
Profile Pic
mike56MI
Champion Author Michigan

Posts:3,822
Points:913,515
Joined:Aug 2011
Message Posted: Jan 4, 2013 5:47:18 PM

OK
Profile Pic
LostInNY
Champion Author New York

Posts:4,284
Points:1,257,695
Joined:Apr 2011
Message Posted: Jan 4, 2013 5:41:53 PM

goes to show, cars are being built better...
Profile Pic
PathfinderSC
Champion Author South Carolina

Posts:12,208
Points:2,431,110
Joined:Mar 2008
Message Posted: Jan 4, 2013 5:24:43 PM

Good Article.
Profile Pic
Zuegma
Champion Author Nova Scotia

Posts:3,561
Points:856,410
Joined:Aug 2012
Message Posted: Jan 4, 2013 5:12:42 PM

Excluding a few car models with outstanding durability, the depreciation rate is reflective of the manifactures warranty mileage and/or number of years. The later being the main factor is setting up the "red book" dealer's value re-purchase price: not his resale price of course.
For most brands it means a 20 to 25% drop in value per year to a residual max of about 20% depending on mileage or on its accident history (if any).

So, what's the best buy depends on one's cash/credit flow/availability.
Profile Pic
JCI46009IN
Champion Author Indiana

Posts:2,129
Points:439,570
Joined:Sep 2011
Message Posted: Jan 4, 2013 4:46:22 PM

I drive mine into the ground and then buy another used one
Profile Pic
mikaye
Champion Author Cleveland

Posts:5,428
Points:1,248,510
Joined:Jun 2010
Message Posted: Jan 4, 2013 4:40:32 PM

interesting
Profile Pic
thizben
All-Star Author Phoenix

Posts:705
Points:326,370
Joined:May 2011
Message Posted: Jan 4, 2013 4:35:06 PM

interesting
Profile Pic
fedupMN
Champion Author Twin Cities

Posts:5,257
Points:1,084,140
Joined:Mar 2011
Message Posted: Jan 4, 2013 4:12:17 PM

ok
Profile Pic
humblepie
Champion Author Toledo

Posts:57,744
Points:2,985,895
Joined:Mar 2006
Message Posted: Jan 4, 2013 2:20:41 PM

my 2002 is barely broken in
Profile Pic
1970vette
Veteran Author Nevada

Posts:477
Points:799,000
Joined:Mar 2012
Message Posted: Jan 4, 2013 2:09:13 PM

we have a 2008
Profile Pic
Discovery02
Champion Author Colorado Springs

Posts:7,530
Points:906,445
Joined:May 2012
Message Posted: Jan 4, 2013 2:05:51 PM

Used cars and used car prices are a bit of a gamble no matter how you slice it.
Profile Pic
amoshins
Champion Author Trenton

Posts:3,944
Points:1,188,070
Joined:Apr 2011
Message Posted: Jan 4, 2013 2:04:42 PM

Not sure I'll ever buy a new car again
Profile Pic
djwhit
Champion Author Ohio

Posts:5,375
Points:1,806,705
Joined:Jul 2009
Message Posted: Jan 4, 2013 2:02:15 PM

THATS GREAT.......
Profile Pic
peabeax55
All-Star Author Atlanta

Posts:858
Points:298,925
Joined:Mar 2012
Message Posted: Jan 4, 2013 1:30:48 PM

A well taken care of personally owned, paid off vehicle is priceless.
By its very nature will save the owner thousands of dollars a year.
But if having to replace it makes sense then better go used.
Profile Pic
TripleHs
Champion Author Austin

Posts:3,868
Points:1,051,020
Joined:Oct 2009
Message Posted: Jan 4, 2013 1:28:23 PM

if people are buying fewer new cars and are extending their existing cars' life, i would think fewer used cars will be available, perhaps that's why prices for used cars are more stable as supply is more limited
Profile Pic
YumaFellow
Champion Author Arizona

Posts:3,861
Points:1,185,045
Joined:Jan 2011
Message Posted: Jan 4, 2013 1:12:42 PM


The big storm in the U.S. has probably raised the price of used cars because of the demand for them.
Profile Pic
fullcirclethink
Champion Author Washington

Posts:2,032
Points:168,645
Joined:Jun 2009
Message Posted: Jan 4, 2013 1:10:24 PM

As long as we don't see another cash for clunkers debacle that is!
Post a reply Back to Topics