when will car prices drop reddit

Heres how you get there. But used cars are still nearly 40 more expensive than they were in February 2021 thanks to supply.

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From working around the auto industry its extremely hard to tell.

. 2021 chevy Silverado 1500 v8 4x4 prices were 47k-53k on average with varying options. In the US the Manheim Used Vehicle Value Index peaked at 2363 in January 2022. In my region the used and new car prices are at all time highs.

111821 1000 186331 - - 4G- - Black Regular Northeast Fredericksburg. 28carslater 9 mo. The fall in US used-car prices in the first half of February has wiped out Januarys surge.

That makes a sudden crash in used car prices. In pre-pandemic 2020 the average new car was typically purchased at a price point of 2000-3000 under retail price. 2017-2019 used chevy Silverado 1500 v8 4x4.

According to JD. Power used-vehicle values will begin their descent to more normal levels by late 2022 and into 2023. 10-15 markup at most new dealers and astronomically high.

Once car companies start mass producing new cars again the used car prices would start lowering. 7221 1800 94737 36 4GA Silver Regular Northeast Pennsylvania. What I suspected if it runs and you like it I would keep it because its not worth a great deal of money.

The firm reportedly expects used - car prices to drop 20-30 sometime in the months after October 2022. Meanwhile consulting firm KPMG expects a notable. And while that has the potential to happen we cant bank on it.

Today customers regularly pay more than 250 over the. With used cars fetching prices closer to the new cars people will much rather buy new car with warranty then putting new car money on used car and that too all upfront. There was a shortage of chips recently not sure if its still ongoing along with the.

I pulled up one of our local dealerships websites. The chip shortage for new cars is going to last through all of 2022 quoting the CEO of chip maker STMicro and the chairman of Daimler and until that gets straightened out we probably wont. But all told car production needs to increase for vehicle prices to drop substantially in 2023.

The Manheim Used Vehicle Value Index indicates pricing trends in the used vehicle market.

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