The Current State Of The Used Car Market Skyrocketed Upwards And Its Been 2 Years
12-11-2010, 10:00 PM
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The Current State Of The Used Car Market Skyrocketed Upwards And Its Been 2 Years
I have gone through these posts and looked at Manheim and cant see how anyone is making money at this? The prices just don't seem like they are that much lower than retail and if people are flipping cars they are not making much and do put out $28K or $30K to make $500-$1000 at best just does not seem realistic?
Is anyone making money at this? I have been told that so many people have auction licenses now and are buying up everything which is driving the prices way up which was not the case many years ago. Is this the case? Example like a 05 C230 with 50k miles in Dec 2008 you could buy for $10500 now the same car is selling for $13000 and its 2 years later. Then E55 AMG selling more than CL55 AMG an SL55 AMG. The used car value has went up. I just dont understand how people are making money and nevertheless buyers getting a good deal on a used car.
Is anyone making money at this? I have been told that so many people have auction licenses now and are buying up everything which is driving the prices way up which was not the case many years ago. Is this the case? Example like a 05 C230 with 50k miles in Dec 2008 you could buy for $10500 now the same car is selling for $13000 and its 2 years later. Then E55 AMG selling more than CL55 AMG an SL55 AMG. The used car value has went up. I just dont understand how people are making money and nevertheless buyers getting a good deal on a used car.
12-13-2010, 06:24 PM
#2
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I have gone through these posts and looked at Manheim and cant see how anyone is making money at this? The prices just don't seem like they are that much lower than retail and if people are flipping cars they are not making much and do put out $28K or $30K to make $500-$1000 at best just does not seem realistic?
Is anyone making money at this? I have been told that so many people have auction licenses now and are buying up everything which is driving the prices way up which was not the case many years ago. Is this the case? Example like a 05 C230 with 50k miles in Dec 2008 you could buy for $10500 now the same car is selling for $13000 and its 2 years later. Then E55 AMG selling more than CL55 AMG an SL55 AMG. The used car value has went up. I just dont understand how people are making money and nevertheless buyers getting a good deal on a used car.
Is anyone making money at this? I have been told that so many people have auction licenses now and are buying up everything which is driving the prices way up which was not the case many years ago. Is this the case? Example like a 05 C230 with 50k miles in Dec 2008 you could buy for $10500 now the same car is selling for $13000 and its 2 years later. Then E55 AMG selling more than CL55 AMG an SL55 AMG. The used car value has went up. I just dont understand how people are making money and nevertheless buyers getting a good deal on a used car.
12-13-2010, 07:54 PM
#3
You are absolutely right,it seems like every one has a license now so yes at the auctions,the prices have definately been driven up.
On a side note,most of these independent dealers do end up buying not so perfect cars but since the prices are relatively lower then MB dealer cars ( better one's) they do end up selling them relatively quicker.
I just payed $32,000 for a perfect/low mileage/fully optioned/CPO/ '07 530i with 18,000 miles at a MB dealership. I could have purchased same year 530i for $28,000 at an indy but then the car would have had higher mileage/lot less options/no warranty and not to mention,most of the cars had accident history or some sort of issues.
It's amazing how to most buyers,it's the price of the car that counts,so to each it's own.
On a side note,most of these independent dealers do end up buying not so perfect cars but since the prices are relatively lower then MB dealer cars ( better one's) they do end up selling them relatively quicker.
I just payed $32,000 for a perfect/low mileage/fully optioned/CPO/ '07 530i with 18,000 miles at a MB dealership. I could have purchased same year 530i for $28,000 at an indy but then the car would have had higher mileage/lot less options/no warranty and not to mention,most of the cars had accident history or some sort of issues.
It's amazing how to most buyers,it's the price of the car that counts,so to each it's own.
12-13-2010, 09:12 PM
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996 Guards red / 2008 Hayabusa / 2004 E55 AMG
I manage a Honda dealership and I can tell you exactly that has happened, retail selling prices have come down and wholesale/trade prices have come up resulting in a lot less profit margin.
