67 Camaro "The Victim"

[Vegas69]

You got that right. A decent C5 Z06 is 30k right now. I've been thinking about picking up a red headed step child, but I'm hesitant to lay out the bread at the moment.

[Spiffav8]

Originally Posted by Vegas69

You got that right. A decent C5 Z06 is 30k right now. I've been thinking about picking up a red headed step child, but I'm hesitant to lay out the bread at the moment.

I’m in the same boat. Wanting to buy a truck, but used ones are selling for more than new ones at the moment due to the chip shortage. Figure I can drive the Malibu for a bit longer. At least it gets decent MPG.

[SSLance]

I just sold my one owner 2002 GMC 2500HD with 8.1 and Allison and 246,000 miles on it for $14,000. It was a $10,000 truck for years...

Sad part is, I miss it and I know I'll have sellers remorse for a while about it.

[Mad_Monte_Carlo]

Originally Posted by SSLance

I just sold my one owner 2002 GMC 2500HD with 8.1 and Allison and 246,000 miles on it for $14,000. It was a $10,000 truck for years...

Sad part is, I miss it and I know I'll have sellers remorse for a while about it.

It's crazy what used car/truck prices have been lately.

[Vegas69]

Where do you guys think car prices will settle in say 1-3 years?

[Spiffav8]

Originally Posted by Vegas69

Where do you guys think car prices will settle in say 1-3 years?

My guess is new car prices (MSRP) will stay on track with inflation. Once the chip shortage is resolved (maybe end of next year) manufactures and dealers will want to move product, but also need/want to make every dollar they can after a couple of years with little coming in. I’d expect to pay close to MSRP. If that happens, I would expect the used car market to remain over priced. Or it could be a total blowout by manufactures flooding the market with new cars and destroying the used car market. I’m never right on this kind of thing.

[Vegas69]

Originally Posted by Spiffav8

My guess is new car prices (MSRP) will stay on track with inflation. Once the chip shortage is resolved (maybe end of next year) manufactures and dealers will want to move product, but also need/want to make every dollar they can after a couple of years with little coming in. I’d expect to pay close to MSRP. If that happens, I would expect the used car market to remain over priced. Or it could be a total blowout by manufactures flooding the market with new cars and destroying the used car market. I’m never right on this kind of thing.

To a large degree, it's all relative. My used car I plan to trade went up in value 10% so the spread is less imposing to upgrade. The inflation will hurt buying power a little. It's the first time buyers and those looking for a major upgrade that will get blind sided with debt.

Perhaps the market was due for some natural inflation, but I see it as vastly overheated at the moment. When a Toyota RAV4 is selling for 5-10k over MSRP, that's red flag for me. HA That's impulse, impatience, and supply and demand at work.

As the tide goes out, it always comes back in. I agree inflation will play it's part and we'll likely settle into a more reasonable market in the short term. At some point people run out of money and optimism. But hey, I've been wrong a few times. ha Personally, I'll do my best to stay content with the perfectly fine vehicles we have in the garage.