When Will Car Prices Come Down?

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Pipeoff

Part of the Furniture Now
Jun 22, 2021
814
1,418
Western New York
I was looking at buying a car for my teenage daughter, but given how high new and used prices are right now I might wait until next year. My budget is $11k and I dont like what Im seeing right now. I thought about giving her our 2017 Camry that I owe 11k on and getting a new one but new prices are ridiculous too.

Do you think prices will come down by next spring/summer in time for graduation?
My Toyota Tacoma has 275k on it. Better to tape it together than try to trade up, even used parts are expensive.
 
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sasquatch

Lifer
Jul 16, 2012
1,683
2,862
The used car dealer near us has closed, we don't know for how long. They can't get cars, they have nothing to sell. They've been successful (and super great to deal with) for 20 years. The local Ford dealer has maybe 20 vehicles on the lot, cars, trucks, SUVs, .... like they have no stock choice at all, it's probably 1/10th of what they'd like to have. And yeah, I'm looking at truck prices thinking "Okay, I can never buy a truck again." I paid 34,000 cdn for my last one in 2016, and a similar truck is running well over 50 now. Like, my payments would double. No thanks.
 

ssjones

Moderator
Staff member
May 11, 2011
18,317
11,068
Maryland
postimg.cc
I blew it, my 2014 daily driver, a Lincoln MKZ, ha 215,000 miles on it. I was going to buy a 2019 Avalon last year, they were all over for around $25k with less than 30k on them. Now, forget it, close to $35k, if you can find one around here. Guess the Lincoln sticks around for another year/40k. We drive to Louisiana a few time a year, and need a big car (we go fully loaded). I wanted FWD, no 4WD, no turbos, just a NA V6, that's about the only game in town. I hate SUV's, so that's a no go. Old man Avalon it is.
 

cigrmaster

Lifer
May 26, 2012
20,249
57,280
66
Sarasota Florida
Al, you should look at the Lexus ES330 or Ls 430. I have both currently both being driven by my kids. I have seen over the years at how the pricing for the Avalons is higher and not worth the prices over the Lexus. The LS is an 8 cylinder but gets decent fuel economy for an 8. The 6 cylinder gets the best mileage of them all. It is a 6 cylinder and the ride is impressive. I bought all of my Lexus from old ladies who really take great care of their cars.
 
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Pipeoff

Part of the Furniture Now
Jun 22, 2021
814
1,418
Western New York
I was looking at buying a car for my teenage daughter, but given how high new and used prices are right now I might wait until next year. My budget is $11k and I dont like what Im seeing right now. I thought about giving her our 2017 Camry that I owe 11k on and getting a new one but new prices are ridiculous too.

Do you think prices will come down by next spring/summer in time for graduation?
Also, price may come down now that we are being pushed into electric. These new plastic cars scare the hell out of me, bumpers are gone except for pickups. Good luck!
 

danish

Starting to Get Obsessed
Jun 12, 2017
245
490
Denmark
Also, price may come down now that we are being pushed into electric. These new plastic cars scare the hell out of me, bumpers are gone except for pickups. Good luck!
Nothing to be scared about:

“We found that electric cars are as safe in our tests when it comes to crash worthiness collision avoidance as internal combustion engine models,” said IIHS president David Harkey. ... According to the Highway Loss Data Institute, injury claims for electric cars are 40 percent lower than for identical gas-powered vehicles.23. apr. 2021
 

Jaylotw

Lifer
Mar 13, 2020
1,062
4,063
NE Ohio
My Toyota Tacoma has 275k on it. Better to tape it together than try to trade up, even used parts are expensive.
My 4Runner just hit 250k. I’ll drive it till it doesn’t go anymore.

The concept of needing a new car when your current one hits 60,000 just doesn’t make sense to me. My mom wants a new Corolla because her’s is a 2016 with 45k and it’s “old.” ? Seems like as soon as a car’s paid off, people want another car payment. I don’t get it.

Local auto trader publications are the way to go for a first car for a teenager. A kid’s first car will feel like a limo to them, no matter what it is. If you’re not mechanically inclined, find a friend who is and let them check it out. As long as it stops, steers and accelerates it’s good!
 
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cigrmaster

Lifer
May 26, 2012
20,249
57,280
66
Sarasota Florida
Years ago I used to trade in cars every 3 years or 36,000 miles. They were all leased and I ran them through my businesses, if you know how to lease a car it is a cheap way tow own a car, you need to know how the residuals work and also what the money factors were, I had been in the car business and had leased hundreds of cars so I knew what I was doing. I made sure that if a car ran out of it's original warranty I got rid of it. I used to get the large conversion vans with the high top. It had the 4 captains a table and an electric bed with VCR and TV's. They were great for the kids as I used to have to drive to Boston almost every weekend so my dad could play with his grand children. After he passed away, I was buying Jaguars for me and 4 wheel drive trucks with the 4 doors and leather guts and they sold for 35,000 plus. When I moved to Florida, I couldn't fit my conversion vans into my garage so I started buying GMC Yukon XL's. They were also nice. The last Yukon I bought had the tv's built into the back of the head rests and dvr's. When the divorce came I got the Jaguar which was my car and she got the Yukon which was her car.
The last great Jaguars built were the 2003 Jaguar XJ 8 Vanden Plas. They ruined the car in 2004 when they took out 800 pounds and made it drive like a Cadillac which I didn't care for. I then started buying Lexus's.
 
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Thankfully I returned my wife’s car two month early, and got a new one back in February.

I thought I got a good deal - about 15% of MSRP.

Then in April I got a notification that my previous car is removed from my profile … Normally this happens when the car is resold and the new owner adds it to his profile.

I was curious so I went back and checked the dealer listing … they had listed it at over $7000 more than my residual of my lease.

They recouped most of the additional discount they gave me, and turned a huge profit on my lease return
 
Jul 28, 2016
7,564
36,058
Finland-Scandinavia-EU
In a few years you can probably get most used gas cars for close to nothing here in Denmark and in a lot of other countries. The running costs will however be high, compared to modern cars.
Who knows,That may become true in the coming years if these psychopaths keep pushing their agenda further, but so far I'm not planning on giving up on my American big rear-drive sedans, if things will go real bad I'll switch into motorcycles with sidecar, where I live motorbikes are free of any road taxes and MOT
 
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danish

Starting to Get Obsessed
Jun 12, 2017
245
490
Denmark
Who knows,That may become true in the coming years if these psychopaths keep pushing their agenda further, but so far I'm not planning on giving up on my American big rear-drive sedans, if things will go real bad I'll switch into motorcycles with sidecar, where I live motorbikes are free of any road taxes and MOT
I don't hope you categorize people like me that way for not loving pipes, when they are placed under a car. I just like to breath clean air when I am not smoking my pipe, like I respect that most people do not want me to smoke my pipe in a restaurant or on a bus, for example. Gas cars are soon getting banned in more and more cities worldwide. Not without reason. Look on the bright side?
 
Jan 30, 2020
1,850
6,086
New Jersey
Except electric cars are still charging mostly from fossil fuel. All it does is move the pollution to outside one's personal bubble to the power plant.

On a personal safety level, the amount of electricity in an EV makes me nervous and there's a lack of standards between manufacturers. Different manufacturers use different colors to denote the the high voltage lines which is inherently dangerous. Those lines run throughout the entire vehicle and being able to identify them across all makes/models not always clear cut. You should check out some of the response guides just on Tesla when you're bored.
 
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Rockyrepose

Lifer
Oct 16, 2019
1,324
13,238
Wyoming USA
I’m considering an electric bike or scooter.
A friend from work bought a scooter to commute with, it was super economical and worked well enough for summer back and forth to work. Some gal didn't see him and turned into him at an intersection, the medical expenses and time off work more than negated the savings. There was a lot of suffering with a tibial plateau fracture. Something to consider.
 
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Except electric cars are still charging mostly from fossil fuel. All it does is move the pollution to outside one's personal bubble to the power plant.

On a personal safety level, the amount of electricity in an EV makes me nervous and there's a lack of standards between manufacturers. Different manufacturers use different colors to denote the the high voltage lines which is inherently dangerous. Those lines run throughout the entire vehicle and being able to identify them across all makes/models not always clear cut. You should check out some of the response guides just on Tesla when you're bored.

As opposed to the extremely safe cars propelled by computer controlled explosions of highly flammable liquids and thousands of moving parts under the hood in front of you and the 20 or so gallons of FLAMMABLE liquid behind you. What could go wrong with that? :) If you have driven the I-15 from Los Angeles to Las Vegas, the scorched marks on the emergency lanes from burned up vehicles are too numerous to count..... puffy

You need to get used to it. The Electric car is our future. They are safer than Internal Combustion and much more efficient, regardless from what source they "fill up".

I drive electric as my daily driver since 2018. I bought it because it was a rocket on wheels.(Tesla Model S 100D) The 133+ MPGe and ZERO maintenance I have had to perform are just side perks. I WILL say it's easy to go through tires on them if you have no self control. :)

I still have a Diesel truck to haul my Airstream around but very much look forward to the day they can make an electric truck with a viable range, at which point I will happily trade that in too, but I don't see that happening for 5 or so years still, once Solid State batteries are perfected/mass produced.
 
Jan 30, 2020
1,850
6,086
New Jersey
I've trained a number of car fires, and fought a number of car fires in my limited volunteer exposure. I've only had limited exposure to EV and hybrid vehicles personally, and I don't think people realize how much voltage is around you and again, lack of standards on color identification on the high voltage lines is an issue. Most are orange, but some use blue or yellow even within the same car that's also using orange. These lines run throughout the entire frames. Again, just take a look at even the quick response guides from Tesla to get an idea of what you are surrounded in. For Tesla, the entire floor is the battery.

I'd actually prefer to take a traditional car fire over an EV car fire any day of the week.
 
I've trained a number of car fires, and fought a number of car fires in my limited volunteer exposure. I've only had limited exposure to EV and hybrid vehicles personally, and I don't think people realize how much voltage is around you and again, lack of standards on color identification on the high voltage lines is an issue. Most are orange, but some use blue or yellow even within the same car that's also using orange. These lines run throughout the entire frames. Again, just take a look at even the quick response guides from Tesla to get an idea of what you are surrounded in. For Tesla, the entire floor is the battery.

I'd actually prefer to take a traditional car fire over an EV car fire any day of the week.

And you will. Citing data from the US Federal Highway Administration, gasoline-powered cars are about 11 times more likely to catch fire than an electric car. puffy