I was just sitting here watching the news and they're saying that the 2024 supposed to be a decent year for used car sales again. In 2023 a lady said she paid a third of what she bought her house for for a minivan. And I believe it the prices of used cars were through the roof and you couldn't find anything worth the darn good to buy. Even high mileage 10-year-old vehicles were selling for record prices and being in the used business and being a car salesman before I just couldn't believe what I was seeing. The prices of older high mileage cars were astronomical and I thought I would never see that day.
Well for 2024 used car prices are supposed to level out and the inventory is supposed to be increased. Also for new cars deal actually manufactures are offering incentives $130% more than previous years. This information here is what really got me. They said " They average cost for a new car would be $47,000 and the average cost of a used car would be $26,000. ". People if I'm hearing that right 26,000 for a used car is absolutely nuts. You could buy a real nice new minivan in 2002 for $26,000. You can buy a new Jeep for 26,000. And you could buy a real nice used Mercedes-Benz for $26,000 in 2002 or a Dodge Dakota. That reminds me of what I paid for my brand new Mustang GT for my 21st birthday in 1987. My parents didn't buy it for me but they did cosign for me and that car was $12,725 tax, tag and title, out the door. I just cannot believe how much cars have gone up over the years. We are at the point now where a used car is more than twice the price of a brand new car was in 1987. Just sit and think about that for a minute, that's ungodly!
Well for 2024 used car prices are supposed to level out and the inventory is supposed to be increased. Also for new cars deal actually manufactures are offering incentives $130% more than previous years. This information here is what really got me. They said " They average cost for a new car would be $47,000 and the average cost of a used car would be $26,000. ". People if I'm hearing that right 26,000 for a used car is absolutely nuts. You could buy a real nice new minivan in 2002 for $26,000. You can buy a new Jeep for 26,000. And you could buy a real nice used Mercedes-Benz for $26,000 in 2002 or a Dodge Dakota. That reminds me of what I paid for my brand new Mustang GT for my 21st birthday in 1987. My parents didn't buy it for me but they did cosign for me and that car was $12,725 tax, tag and title, out the door. I just cannot believe how much cars have gone up over the years. We are at the point now where a used car is more than twice the price of a brand new car was in 1987. Just sit and think about that for a minute, that's ungodly!
