Used Cars About to Get Cheaper

[Flyn]

Jalopnik is predicting large drops in prices for used cars.

We’ve been living in a bit of a used car bubble for a few years now, partially driven by the Cash for Clunkers program which decreased the supply of used cars, and partially driven by absurd amounts of subprime auto loans. But that bubble may be about to burst, and one of the first signs comes from rental car companies, Bloomberg notes:

(4th gear) deadspin-quote-carrot-aligned-w-bgr-2

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[daturbosix]

i hope that this means that the flipping market will become a bit better
[MENTION=1983]Outlaw[/MENTION]

 

[Lord Tin Foilhat]

Hopefully...My Cobalt side skirts are hanging on by luck due to rust

 

[b4black]

partially driven by the Cash for Clunkers program

I doubt it. Cash for clunkers was one month in 2009. It took 690,114 cars off the road.

We have 275,000,000+ vehicles in operation. Cash for clunkers was a drop in the bucket and a long time ago.

 

[Flyn]

Car and Driver says the dealer lease programs have grown to the point that the market is about to be flooded with off lease vehicles.

Used car groups say they will concentrate on selling CPO (Certified Pre-Owned) cars because of greater "value" (profit) potential.

5.0 420 hp, 2015 Hyundai Genesis is getting closer to being in my driveway.

What’s to be done with all the used cars and trucks? The question was at the forefront of the 2017 National Automobile Dealers Association convention in New Orleans. Of concern for car and truck dealers is the glut of vehicles coming off leases this year, which will inevitably drive down prices for used vehicles. Their loss could be used-car buyers’ gain. “I think from [the automaker’s] perspective, that’s bad news,” Toyota Motor North America CEO Jim Lentz said at a roundtable with journalists Sunday. “From the consumer’s perspective, it’s pretty good news. There are going to be some great deals out there on certified used passenger cars.”

The flipside is used car depreciation is expected to speed up with new cars losing 20% value the first year.

Used-Car Prices Expected to Drop Faster in 2017

 

[Outlaw]

i hope that this means that the flipping market will become a bit better
[MENTION=1983]Outlaw[/MENTION]

It wont. There's money to be made wherever the cars are trading at dollar wise. The proliferation of CL/ sale apps paired with living in a metropolitan area where there's tons of people not working/collecting unemployment that can just set up alerts and go get all the good deals any time of day.

I don't even bother anymore. I'm making way more money doing what I'm doing now with zero titles to worry about.

Can you tell I'm fed up with it?