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Author Topic: Used-car prices end wild ride down the road Back to Topics
mastermariner

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Texas

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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
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CheapDiesel
Champion Author Indianapolis

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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.
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blupupher
Champion Author Houston

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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.
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07skydriver
Champion Author Ohio

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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.
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TurkishMan
All-Star Author Dallas

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Message Posted: Jan 5, 2013 2:59:24 AM

it is economy
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iFueler
Champion Author Durham

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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]
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JohnofGB
Champion Author Flint

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Message Posted: Jan 5, 2013 12:37:38 AM

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

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Message Posted: Jan 5, 2013 12:06:50 AM

2002 not bad
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TomT2Lee
Champion Author Cincinnati

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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).
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rcornel
Champion Author San Diego

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Message Posted: Jan 4, 2013 10:17:38 PM

Wow... interesting info.
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ExplorerWA
Champion Author Washington

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Message Posted: Jan 4, 2013 9:54:31 PM

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

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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...........
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BuckyTJones
Champion Author Salt Lake City

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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.
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NHLiveFree
Champion Author New Hampshire

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Message Posted: Jan 4, 2013 9:04:29 PM


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

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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.
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JDchefF
Champion Author Lancaster

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Message Posted: Jan 4, 2013 6:30:43 PM

Interesting info.
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kag2010
Champion Author Winnipeg

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Message Posted: Jan 4, 2013 6:26:26 PM

Interesting..
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skinsfan125
Champion Author Virginia

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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.
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highdesertman
Champion Author Albuquerque

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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.
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mike56MI
Champion Author Michigan

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Message Posted: Jan 4, 2013 5:47:18 PM

OK
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LostInNY
Champion Author New York

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Message Posted: Jan 4, 2013 5:41:53 PM

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

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Message Posted: Jan 4, 2013 5:24:43 PM

Good Article.
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Zuegma
Champion Author Nova Scotia

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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.
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JCI46009IN
Champion Author Indiana

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Message Posted: Jan 4, 2013 4:46:22 PM

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

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Message Posted: Jan 4, 2013 4:40:32 PM

interesting
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thizben
All-Star Author Phoenix

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Message Posted: Jan 4, 2013 4:35:06 PM

interesting
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fedupMN
Champion Author Twin Cities

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Message Posted: Jan 4, 2013 4:12:17 PM

ok
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humblepie
Champion Author Toledo

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Message Posted: Jan 4, 2013 2:20:41 PM

my 2002 is barely broken in
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1970vette
Veteran Author Nevada

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Message Posted: Jan 4, 2013 2:09:13 PM

we have a 2008
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Discovery02
Champion Author Colorado Springs

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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.
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amoshins
Champion Author Trenton

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Message Posted: Jan 4, 2013 2:04:42 PM

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

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Message Posted: Jan 4, 2013 2:02:15 PM

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

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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.
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TripleHs
Champion Author Austin

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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
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YumaFellow
Champion Author Arizona

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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.
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fullcirclethink
Champion Author Washington

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Message Posted: Jan 4, 2013 1:10:24 PM

As long as we don't see another cash for clunkers debacle that is!
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