WSJ - used luxury car values are up
Thread Starter
Member
Joined: Oct 2007
Posts: 227
Likes: 10
From: Bay Area, California
E400S4 '17
WSJ - used luxury car values are up
I've seen some discussion by board members who have noticed CPO and other late model used prices are more than last year, or down less than expected.
The Wall Street Journal noticed too, here is an article from today's edition
A good time to trade in that gently used car
"Late-model, mid-size luxury cars—a segment that includes the Mercedes E-Class and the BMW 5-series—are worth about 6% more on average than a year ago, according to NADA."
They correlate the increase with a decrease in home prices.
The Wall Street Journal noticed too, here is an article from today's edition
A good time to trade in that gently used car
"Late-model, mid-size luxury cars—a segment that includes the Mercedes E-Class and the BMW 5-series—are worth about 6% more on average than a year ago, according to NADA."
They correlate the increase with a decrease in home prices.
Member
Joined: Jun 2010
Posts: 241
Likes: 0
From: Ohio
'10 S550 4Matic, '06 BMW M5
It may be a case of 'rising tides lift all boats.' I've read recently that shortages of supply in some new models has created greater demand for some recent used models. So, perhaps the general trend of these rising used car values is lifting the used car industry as a whole.
Dunno.
Dunno.
Senior Member
Joined: Jun 2010
Posts: 343
Likes: 1
From: Rancho Santa Margarita, CA
C250,GLK350
It may be a case of 'rising tides lift all boats.' I've read recently that shortages of supply in some new models has created greater demand for some recent used models. So, perhaps the general trend of these rising used car values is lifting the used car industry as a whole.
Dunno.
Dunno.
Out Of Control!!
Joined: Jun 2008
Posts: 10,557
Likes: 24
From: Earth
Porsche Macan S SportDesign / Ex M-B's: 11 & 10 & 06 E350's, 02 S500
I guess I'm hoping this trend continues for when my Lease is up, so my buyout isn't higher than fair market value.
For the first time, it seems like buying New is a better financial move.
For the first time, it seems like buying New is a better financial move.
Member
Joined: Nov 2002
Posts: 96
Likes: 0
From: NYC
2007 S550 Sport
Due to the weak dollar, shortage of cars from Japan, continued sluggish economy, used car prices are going up. The local Toyota dealer offered to buy my FJ Cruiser back (3 years, 28k miles) for only $3k less than what I paid for it. Curious as to their offer, I punched in the car's stats into KBB (I know they over estimate used car prices, but...) and my car is actually valued to be worth $4k MORE than what I paid for it new! My head spun a bit thinking I was dreaming. Pretty crazy at what's going on in the used car business.
