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The used car market today (lemmy.world)

submitted 1 day ago by laurenceOfSuburbia@lemmy.world to c/memes@lemmy.world

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[–] beastrabban@lemmy.world 2 points 5 hours ago (2 children)

I'm not an expert, and I'm just spitballing here, but I'd say it's some combo of the following:

cars last a lot longer, a 200k mile car still might have a couple years of solid life left
inflation makes 2000$ now 4000$
everyone is hard up for cash and needs to sell stuff at the most possible amount of money
boomers are famous for considering everything they touch to increase in value
a ton of used cars are off the market due to gov shenanigans
the typical car is much pricier now, so the typical used car is also pricier

anyone got any others?

[–] auzy1@lemmy.world 1 points 1 hour ago

Boomers were my first thought too.

Particularly car enthusiasts often overvalue their stuff, and attack everything they won't benefit from (like EV's, or electrification).

[–] percent@infosec.pub 2 points 5 hours ago (1 children)

gov shenanigans

Was the "Cash for Clunkers" thing one of them? When that happened, I remembered wondering how it might affect the used car market later... But then I forgot to check until just now 🙈

[–] beastrabban@lemmy.world 2 points 3 hours ago (1 children)

Yeah I'm sure it was.

It's a catch 22 though, the clunkers being removed were heavy polluters. I have a 60s C10 and that thing pollutes like crazy. Looks beautiful though.

Other issues are the CAFE standards that motivated large expensive trucks and the general social change towards large SUVs. I hate those big crossovers, my wife has one and it's a POS.

[–] skisnow@lemmy.ca 1 points 2 hours ago

the clunkers being removed were heavy polluters

and got replaced with trucks that were twice their size, resulting in zero net gain