Used Market Prices....Wow!

So, I took the wife's '20 Highlander in for service. Upon my retrieval of the vehicle after check out. I noticed the receipt, alignment report and one other document. Upon review of the third document.....It was actually a purchase offer for the vehicle from the dealership. They were offering us MSRP ('20) for this vehicle. I was actually shocked and called the wife. Knowing that she didn't want to sell her car, she actually paused for second )).

Anyone else experienced this during their service visits.

 

We sold my SHO for a 25% premium after putting 25k on it. We sold the wife’s explorer for the same price we paid for it 3 years earlier and put 40k on that.

used market is crazy.

 

Sounds about right. Some dealerships are desperate to get any inventory at all to sell. And, the chances of a supply chain improvement on new vehicles in the next 12 months is pretty darn slim. So the prices on used are likely to keep going up.

 

I recently traded my 19 Tundra with ~60k miles on it for pretty much exactly what I paid for it brand new ($36.5k) It was too good of an offer to pass up.

 

This vehicle only has 30k miles. We are getting ready to retire and purchased new vehicles in anticipation of this milestone a short time ago. We don't want newer/higher car payments at this point. @Cjames17 I agree with you. The two dealerships near me have little new inventory and some used vehicles. Just interesting!

 

Yes the used car prices are insane!
My wife’s honda odyssey is currently at 210,000 and has given us quite a few maintenance scares, at some point it wont be worth of repairing. I have been just looking for a deal.

i’ve been listening to Your Auto Advocate on YouTube https://youtube.com/c/YourAdvocateAllianceYAA

Inventory is crap I want to get a nice used Toyota Sienna and the prices are about $8k-10 more than 2019. Usually I buy private but their is nothing to be found on top of that there is alot of junk out there, kinda insane and its not going to get better since they (the dealers) are holding all the cards. 1Q was lowest in sales in the past decade but one of the highest in profit. I talked to a car salesman and he just laughed about it because his income nearly doubled in 2 years after being in the industry for 35 years. As he said it “its too easy now, Ill keep working till I’m 70 at this rate, easiest money I’ve ever made LOL”

Kinda feels like we are screwed as consumers if you are buying.

 

Yep, Some of us have sold our units at 3 years and 44,000 miles for more than we originally paid new. It's crazy world.

 

My local Toyota has two used RAV4 Primes, each listed for $70k.

 

When I put money down on my 2021 SR5 4WD Double Cab (October 2021) the dealer offered me $4,000 in trade for my 2000 4RUNNER. My Tundra got caught up in the steering recall “stop sale” and I was unable to take possession until March 2022. Shortly thereafter I sold the 4RUNNER in less than one day on Craig’s list for $12,500. That’s the used market you are dealing with now.

 

The correction is projected to take effect Oct 22-Oct 23.

If your gonna sell, do it now.

 

The dealer offered me 53k for my 19 1794 with 50k miles. Too many mods and upgrades to take it.