Used vehicles prices 1 year after covid

[indykid]

With used prices what they are, spending for a new truck buys you the new vehicle warranty, and you know it the vehicle was broken in properly.

 

[tbhausen]

Interest rates are generally better when financing new versus used, so there’s that…

 

[DeadeyeChrista'sdad]

A friend bought a new car lot in Richmond. At the end of January he had about 3 new cars left. It's a small lot, but dang. My lady friend works at one of the busiest dealerships in Ohio. Last month they sold 100 new cars.

 

[gungirl65]

You might be better off with new as opposed to gently used if there's not much of a price difference. Find out if there are any manufacturer rebates that can help lower the price.

With a new vehicle you may be able to get zero or very low interest rate financing.

Getting the full manufacturer's warranty is definitely an added plus as well.

You will typically get the best deals at the end of the month when car lots are trying to meet their sales goals.

When I used to finance cars we would often do deals at the end of the month to hit sales goals that we would not necessarily do earlier in the month. We were not as greedy on deal structure if it meant hitting sales goal.

 

[drillsgt]

I've been considering a truck for awhile, something along the lines of a colorado/canyon, ranger, or tacoma as having a truck is so convenient. Like guns it's definitely not a buyers market, awhile ago you'd see a ton of tacoma's at decent prices and deals, now the most i've seen at a dealership has been 4 in stock.

 

[BehindBlueI's]

Interest rates are generally better when financing new versus used, so there’s that…

My credit union is advertising 1.5% for new cars. For comparison, a current issue gov't I-bond is paying 1.68%. If you were to buy a new car putting the purchase price in bonds and making payments is slightly cheaper then paying cash...

I've been considering a truck for awhile, something along the lines of a colorado/canyon, ranger, or tacoma as having a truck is so convenient. Like guns it's definitely not a buyers market, awhile ago you'd see a ton of tacoma's at decent prices and deals, now the most i've seen at a dealership has been 4 in stock.

I don't plan to be in the market for awhile, but the new PHEV Ranger that may or may not come to the US looks very interesting to me. Pretty strong gas motor backed by a pretty strong electric motor that can boost the gas motor for more power when required. The Ranger is now a mid-size truck so it's big enough for road trips but still small enough to not be a bother in parking garages. I've never been interested in anything less than a full size before, but if that one comes to the US in 5-10 years I'll give it a hard look.

 

[AtTheMurph]

"Stealing my tax dollars to pay for waste was offensive."

It was worse than that. They stole your tax dollars bought 611,114 vehicles and then destroyed them. Why not just pay people to dig holes then pay them again to fill them back in?

At least in that absurdity we would still have the capital assets we started with.

 

[dprimm]

We bought a 19 Tacoma last fall. Just enough depreciation to pay for extended peace of mind. Full coverage. Liked it better than the brand new 20 version.

keep your eyes out. Test drive and figure what you want. Then watch ... trucks go fast.

 

[Route 45]

You might be better off with new as opposed to gently used if there's not much of a price difference. Find out if there are any manufacturer rebates that can help lower the price.

With a new vehicle you may be able to get zero or very low interest rate financing.

Getting the full manufacturer's warranty is definitely an added plus as well.

You will typically get the best deals at the end of the month when car lots are trying to meet their sales goals.

When I used to finance cars we would often do deals at the end of the month to hit sales goals that we would not necessarily do earlier in the month. We were not as greedy on deal structure if it meant hitting sales goal.

Really good advice here. I waited until the last business day of the year in 2017 to buy my new Ford Escape. I think they were a bit annoyed with me, as I was keeping them from leaving early, but I got an excellent deal.

 

[CHCRandy]

Well I tried to order a new truck today and GM isn't accepting orders for 2500's, they are only building 1500's. They said I can order a 2022 in May and get it in late June or early July.

On top of that he said there is not even a Red 2500 HD within 300 miles that they can trade for and get me.......although they said something may be in transit to another dealer.

 

[maxwelhse]

Well I tried to order a new truck today and GM isn't accepting orders for 2500's, they are only building 1500's. They said I can order a 2022 in May and get it in late June or early July.

On top of that he said there is not even a Red 2500 HD within 300 miles that they can trade for and get me.......although they said something may be in transit to another dealer.

I never tried this with a hot potato like a pick up truck before, but a lot of times dealers from all over the country will list their new inventory on places like Autotrader. It's entirely possible that what you want is out there, but the dealer you're working with doesn't want to get it from the west coast or whatever.

Food for thought.

 

[firecadet613]

Well I tried to order a new truck today and GM isn't accepting orders for 2500's, they are only building 1500's. They said I can order a 2022 in May and get it in late June or early July.

On top of that he said there is not even a Red 2500 HD within 300 miles that they can trade for and get me.......although they said something may be in transit to another dealer.

They can most likely locate it nationwide. Ford and Ram could a few years back.

You should be able to build it on GMs website and search in stock / in transit vehicles. Keep moving the zip code around to search a larger area.

 

[BehindBlueI's]

They can most likely locate it nationwide. Ford and Ram could a few years back.

You should be able to build it on GMs website and search in stock / in transit vehicles. Keep moving the zip code around to search a larger area.

The issue is the supply chain. Trucks are being built but aren't being completed, as they need certain chips, etc. I drove by the Ford truck plant in Louisville a little while back and there's a metric butt ton of trucks parked at the fair grounds and the plant, presumably waiting to be finished. As a result, supply is currently low. It'll break loose again. Personally, if I could wait 18-24 months to purchase, I would. Once stimulus checks are spent and supply chains catch up, prices will drop again.

 

[firecadet613]

The issue is the supply chain. Trucks are being built but aren't being completed, as they need certain chips, etc. I drove by the Ford truck plant in Louisville a little while back and there's a metric butt ton of trucks parked at the fair grounds and the plant, presumably waiting to be finished. As a result, supply is currently low. It'll break loose again. Personally, if I could wait 18-24 months to purchase, I would. Once stimulus checks are spent and supply chains catch up, prices will drop again.

Yep, same thing in Dearborn. IIRC, some are changing what's included in option packages so they can get some trucks out.

My better half does international logistics and the situation will get worse before it gets better... if there's anything you guys want / need in the coming months - buy it now!

 

[Limpy88]

Well since I used the gm employee discount of a relative. I bought a new truck. Found a crew cab with a 6.5 bed close. One like it in travse city MI. The 3 others were on the west coast. (No joke 1800miles away.)
Looking at Cretifed pre owns of the same generation, only one was $500 less than what I paid with the gm discount and rebates. The rest where higher. So why would I buy used. More than I wanted to spend but the way car plants are shutting down (Subaru will too for a month, real soon). Prices will only increase for the next year.


2021 gmc sierra denali ultimate package,
3.0L diesel, Crew cab standard bed, Hunter metallic, black leather.


They haven't put green on a gm truck since 2015. (Green is my color) And most have a tan interior. So rarer Color combo.
First new vehicle in my life(36 years old). The nearly 30+ vehicles I have owned combined didn't cost as much as this truck did. Hahahaha.

 

[maxwelhse]

First new vehicle in my life(36 years old). The nearly 30+ vehicles I have owned combined didn't cost as much as this truck did. Hahahaha.

Good for you, man! Enjoy it!