Topic: The car market is turning.

[Great_Big_Abyss]

There is a massive scarcity of cars under $10k.  Anything priced under that is attractive as basic transportation.

What was $5k a few years ago (clapped out Corollas/Civics/Matrixes, 10 year old Kias, etc) are now $10k.

[me_2]

Sometime I wonder how much will sell a 22 years old but ok shape, well maintained 2001 SW2?
Except in reality, it is out of question, young miss's friend won't allow me to do that ... at least for now. 

[quadzilla]

For a short period I was debating on buying a Ridgeline. Looked at the price of a 2017 and they are sitting around $35K. Looked up the original price and they ranged from $36,790 - $48,790 when new. WTF?

[revalations]

There is a massive scarcity of cars under $10k.  Anything priced under that is attractive as basic transportation.

What was $5k a few years ago (clapped out Corollas/Civics/Matrixes, 10 year old Kias, etc) are now $10k.

100%. Even the cars that would ordinarily be very undesirable in the used market are getting TOP dollar and then some. I watched a Pontiac Wave (chevy aveo- rebadged Daewoo) sell for $8700 with 67,000k on it this week.  Back in 2018 I sold my wife’s grandmothers 2010 Wave (loaded with every option you could get) with 35,000 KM on it for $5800 and THAT was a struggle.

Cars like the Rio/Accent etc are sell for nearly what they were worth new. Civics and Corollas are on a entirely new level of stupidity $$$


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[warp]

It's supply push deflation in wages and cost push inflation in prices, a perfect storm!! Wage deflation because regular and irregular immigration has increased population by about ~1 million in the last year alone, so no shortage of labor which keeps wages low and cost push inflation on the supply/production side so buyers in the middle of this are squeezed. Three  decades ago a maximum of 48 month financing was the norm which over the years went to 60 month, then 72 months, 84 months and now 96 months. I am waiting for the first brave finance vendor or car manufacturer to offer 108 month financing!! All to provide the illusion of affordability!!

[Firm]

I think some people should starting thinking about investing in a Haynes manual, some tools and a RockAuto account Keep what you've got and make it work. 

[2JDM]

I suspect a recession will reset car prices to some degree, eg in 2009/2010 you could get a caravan for 20k+tax, wranglers for 25k, etc. Today a grand caravan starts at... 48k?

Like I don't expect pricing to return to 20k, but at the same time prices have gone insane. 

I remember those days. Basic Caravan/Journey CVP, 2 door Wrangler Sport, etc. etc. $20k. Essentially disposable vehicles.

Even $10k basic bare bones no AC, manual Nissan Micras are probably selling for more now.

[ktm525]

Interestingly enough the market for big bore 4 stroke off road bikes hasn't really changed over 20 years. When KTM brought out the RFS 4 stroke around 2000 it was $10.5k. A new KTM/Gas Gas/Husky 500 is around $12.5 today. Not bad for 24 years. ride bikes.

[TheHire]

Seeing subsidized financing rates on GMC now. 

Here is something that I find annoying, as I browse quasi-seriously for new vehicle for my wife:  A lot of stuff that I look at does not have a base or mid-trim model anymore.  The new GMC Canyon?  No SLE or SLT, it's Denali or AT4 only.  MDX?  No more base or Tech.  Starts at A-Spec.

Not sure if that's the case for the Canyon and MDX as I am not sure when they were last updated.....The Canyon I think is pretty old now.

MDX was new for '21 or so, but there's a brand new Canyon/Colorado coming this year. You're actually assigned it 

[Guy]

My son’s Rio is sold. With the accommodation sale he will save taxes as well on the $8900. So it’s like a direct sale of $10,300. or so.

At first I was hoping for $4500!   

[2JDM]

My son’s Rio is sold. With the accommodation sale he will save taxes as well on the $8900. So it’s like a direct sale of $10,300. or so.

At first I was hoping for $4500!   

Awesome time to sell a car!

[Bubba]

Civics and Corollas are on a entirely new level of stupidity $$$

I wonder what my 2013 Corolla LE with 62k km would fetch.


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[sailor723]

We keep wondering if we should sell the 328?  Only putting 2-3K per year on it lately and that's only because I make a conscious effort to drive it at least once a week and take it for a highway run when I can.
Still, it's convenient to have a spare car from time to time. 

[Layne]

My son’s Rio is sold. With the accommodation sale he will save taxes as well on the $8900. So it’s like a direct sale of $10,300. or so.

At first I was hoping for $4500!   

Awesome time to sell a car!

Sell your car for a profit; turn around and lose it on the purchase.  😂

[PJungnitsch]

We keep wondering if we should sell the 328?  Only putting 2-3K per year on it lately and that's only because I make a conscious effort to drive it at least once a week and take it for a highway run when I can.
Still, it's convenient to have a spare car from time to time. 

Yeah, we could have sold the Vibe and got by with the one car as the wife is working from home now

Thought it could be a PITA at times though, and in today's market I'm good with having a backup in case the first one gets in an accident or something

Ideally would have got a PHEV so if gas prices skyrocket again, can 'fuel up from the house' 

[2JDM]

My son’s Rio is sold. With the accommodation sale he will save taxes as well on the $8900. So it’s like a direct sale of $10,300. or so.

At first I was hoping for $4500!   

Awesome time to sell a car!

Sell your car for a profit; turn around and lose it on the purchase.  😂

Didn't say it was a good time to buy a car

[Jaeger]

We keep wondering if we should sell the 328?  Only putting 2-3K per year on it lately and that's only because I make a conscious effort to drive it at least once a week and take it for a highway run when I can.
Still, it's convenient to have a spare car from time to time. 

Yeah, we could have sold the Vibe and got by with the one car as the wife is working from home now

Thought it could be a PITA at times though, and in today's market I'm good with having a backup in case the first one gets in an accident or something

Ideally would have got a PHEV so if gas prices skyrocket again, can 'fuel up from the house' 

No WAY we are ready to go to a single car - even though we both work from home more often than not.

[Seafoam]

I think some people should starting thinking about investing in a Haynes manual, some tools and a RockAuto account Keep what you've got and make it work.

That might work for a ten year old car. Once they get to a certain age you can't get parts anymore even if the vehicle is in good shape overall.
I'm running into that with my truck. May have to put it out to pasture.

[PJungnitsch]

I think some people should starting thinking about investing in a Haynes manual, some tools and a RockAuto account Keep what you've got and make it work.

That might work for a ten year old car. Once they get to a certain age you can't get parts anymore even if the vehicle is in good shape overall.
I'm running into that with my truck.

On the Pontiac I was like, well, I've hardly put any money into it so far, do I want to start on an almost 20 year old car?

With my Mazda pickup I did because I had no choice, but it ended up getting more parts in the last 20,000 km of its life than I put in the previous 380,000!

[Seafoam]

Civics and Corollas are on a entirely new level of stupidity $$$

I wonder what my 2013 Corolla LE with 62k km would fetch.


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How about 14.9 https://www.kijiji.ca/v-cars-trucks/city-of-halifax/car-for-sale/1650692533?undefined

Or 13.9 with 157,000 k on it. https://www.kijiji.ca/v-cars-trucks/truro/2013-toyota-corolla-s-truro-nissan-certified/m5521989?undefined