Quote:
Originally Posted by allinon72
I've learned not to try to time the market. From about 2015 up until Covid, an imminent crash in the used vehicle market was all anyone could ever talk about. It never materialized despite overwhelming data to suggest that it would. Then Covid hit and sent everything batshit crazy.
Prices have been correcting for the last 8-10 months but inflation alone will keep prices high. And believe it or not, people are still buying, even at higher rates. It's human nature to talk about a "crash" as if it will be an overnight sensation, like we wake up one day and vehicles are 30% lower. Doesn't work like that, prices fall over time and there is significant slack in the market that needs to be worked out.
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Agreed on the last part. It will take time, and I know better than to rush into buying a highly priced used vehicle right now. Makes no sense that a 2015/2016 Cayman GTS goes for $80-90K, and a 2016 GT4 goes for $110-120K. People can buy if they can afford it. I’ll wait as I don’t think they’re worth that much. $100K+ for a Cayman? It’s just silly.