Looks like used prices are coming down

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JeezAJeep

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I do not see it in NY...in fact, 2 dealers sent me mail asking for a trade at 8%/6% over book

 

bjm00se

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Apparently you didn't read all the links. Manheim is also reporting price declines. Further, you are misunderstanding the data and price trends. In order for prices to fall, they first have to stop increasing, which is what that chart shows. Going from an increase of over 7% month over month, to no increase at all month over month, is a massive stall. Like the article said, prices are "rolling over."
Hmmm, I may not have read all the links. On second look, it appears that the Quartz article is paywall protected and all I see of it is a relatively small excerpt, including the mentioned chart, along with a bunch of ads.

After that, we may be having a semantic disagreement. For a bubble to have "popped" prices need to return to normalcy, or at least fall significantly from the peak. We can probably find agreement on some statement like "Used car price increases seem to have topped out. It remains to be seen if they'll start falling back to previous levels."

Or, as you say, there's additional data that's not available to non-subscribed readers.
 

TheDirtyDangla

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Your emotions mean nothing, nor does your anecdotal evidence. Manheim auctions ARE the data. You can choose to bury your head in the sand and act the fool, but it doesn't change reality.
Yeah being a dealer I just pulled MMR on 2018 Unlimited Sport S. Stayed steady in the mid $30,000 range July to August over a 100 transactions. So yeah just take the L on this one man. Used car prices are going to be high through the end of the year. Source, Manheim and being an actual dealer
 

Eandras

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That doesn’t mean that the bubble burst. All that is saying is that the pricing didn’t increase at a large rate. Imam selling a JK through Carvans and selling price is still high even on the wholesale side. So until they sell all those cars the bubble will not burst even if done artificially
 

RedundanT

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That "bubble" never reached the midwest. I looked at KBB then went to 3 different dealers, dealer offer was up to 8k less than KBB.
 


Ridgway Jeeper

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You offer nothing but hot air. You can't refute data with blowhard, as much as you want to.
Too bad your "data" doesn't actually show ANY downward trend in prices... blowhard

I LOVE the name calling, last refuge of those unable to support their flawed points.

Prices are NOT coming down. As mentioned several times, the graph has to go way into the negative before that becomes a fact. Defend your mistaken interpretation all you like. It is fun to watch you make a fool of yourself.

Can't wait to revisit this in a couple of months when used vehicle prices remain inflated due to lack of inventory.

The simplest fact that you refuse to acknowledge, the FACT that drives the whole used market is availability of new units. Until that demand gap is overcome, the used market will remain high. There is no sign of that getting fixed anytime soon. Order a new Jeep today, you wont' see it until November by most accounts. I ordered a truck early July, probably wont see it until almost Nov. Car lots are EMPTY, that is what drives demand and prices, not your silly graph from manheim, that is just distorted wishful thinking.
 
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summer4x

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Yeah being a dealer I just pulled MMR on 2018 Unlimited Sport S. Stayed steady in the mid $30,000 range July to August over a 100 transactions. So yeah just take the L on this one man. Used car prices are going to be high through the end of the year. Source, Manheim and being an actual dealer

Bologna. I just posted that Manheim is reporting price declines. And here's another from Cox Automotive. Where's your data?

Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 2.6% month-over-month in July. This brought the Manheim Used Vehicle Value Index to 195.2, a 23.6% increase from a year ago.

Manheim Market Report (MMR) prices saw weekly declines every week in July with price declines accelerating through mid-month


https://www.coxautoinc.com/market-insights/july-2021-muvvi/
 
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summer4x

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Who knew that falling prices would get a bunch of panties all wadded up?
 

RowdySouth

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I'm watching prices weekly as well to make a purchase. Used JULRs have dropped the fastest. They had a avg rate of 58k for months now and now more appearing and selling when posted in the 50-53 range. Used JLRs are starting show up again in the 38-43k range with under 20k miles on them instead of the upper 40s. We're on the decline. If you're looking to sell off a car then move immediately, you missed the peak to unload for max return back in July. Used prices will still remain high into next year, but the market is adjusting to the mfg dream revenue option - custom build orders with very few incentives.
 


viper88

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It's a average. Auction prices on average are indeed coming down slowly for some models. Other models not yet. I noticed some Subaru models have dropped $2K in wholesale value the last month or so. They say it takes 3-6 months for the lower auction prices to trickle down and be reflected in the retail market.
 

Ridgway Jeeper

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It most certainly does. You're apparently too dense to read.
Nice... nearly impossible to have a discourse with a person like you. I am amazed you are still allowed here given your proclivity to letting the unnecessary insults fly.

You are citing one single source and calling it gospel, that is pure ignorance.

You have utterly failed to acknowledge the FACTs that drive the prices, ie; supply.

Might look in the mirror for the person unable to read and comprehend...
 

viper88

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Bologna. I just posted that Manheim is reporting price declines. And here's another from Cox Automotive. Where's your data?

Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 2.6% month-over-month in July. This brought the Manheim Used Vehicle Value Index to 195.2, a 23.6% increase from a year ago.

Manheim Market Report (MMR) prices saw weekly declines every week in July with price declines accelerating through mid-month


https://www.coxautoinc.com/market-insights/july-2021-muvvi/
Cox Automotive owns Manheim and others.
 

aro

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The question is, will the price decrease continue, stall or is it a temporary pull back before another push higher?
 

CTMopar

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Used car prices and used Jeep prices are two different animals. One of the salesmen where I am ordering from told me that he just sold a used Rubicon for $500 over what the sticker would have been if they ordered it new.

 
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