Quote:
Originally Posted by blackmonsters
Looks like I might be catching cabs for the rest of my life.
It's cheaper that a new car and insurance.
"Affordable" used cars have 120k miles already and still cost $10k.
Everybody else here is probably thinking "No shit SherlockMonsters".
I hadn't even consider a new car for 20 years so I had no clue.
If I can lose 100LBS then I'll get a moped.
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You picked the absolute worst time to look at used car pricing as the markup right now is as high as its ever been and sellers have all the power. With the big chip shortage on new car production, there is hardly any new car inventory being produced during the last year. With the new car shortage, people turned to the used car market. Supply is way down, demand up, which has caused prices to skyrocket and given sellers all the leverage.
I wouldn't get down, as soon as the chip production issue gets worked out, there's going to be a flood of new car inventory which should help build back up the used car inventory and effectively cause pricing to drop. Unfortunately I still think we're about a year away from that happening.