[NGT2]

Originally Posted by Sutho

Good move.. as much as people may not realise, the world will return to normal and when it does new and used car prices will plummet. In another year or so, Covid will be just another flu that we live with. Being in automotive sales it still astounds me that people will pay ridiculous prices for cars and trucks that will return to normal.
The above is all my opinion though.

I'm kind of interested to see how some of the 2021 & 2022 cars do on the used market in 2-3 years, since many were built out without certain options, due to shortages. Applies to BMW but also pretty much all the other manufacturers.

[ezaircon4jc]

Originally Posted by Sutho

Good move.. as much as people may not realise, the world will return to normal and when it does new and used car prices will plummet. In another year or so, Covid will be just another flu that we live with. Being in automotive sales it still astounds me that people will pay ridiculous prices for cars and trucks that will return to normal.
The above is all my opinion though.

At least here in the US, I'll bet it's another 2 years before anything close to normal returns. I pass a Nissan dealership every week; their new car section is a vacant lot. Pre-owned prices are still going up. The dealer where I just bought my 2019 540i has a lesser optioned car for $1K more. Prices on Autotrader are also increasing due to lack of inventory. A month ago when I started looking for a 2019 540i there were 75 available with less than 45K miles in the entire country! There were 122 last I checked.

[Sutho]

Originally Posted by NGT2

I'm kind of interested to see how some of the 2021 & 2022 cars do on the used market in 2-3 years, since many were built out without certain options, due to shortages. Applies to BMW but also pretty much all the other manufacturers.

Used vehicle prices are determined by the price of new vehicles. At the moment we have dealers with limited stock availability holding out for retail prices and getting it. In another couple of years when manufacturing has returned to some kind of normal dealers will again be discounting stock to move it. That is when you won’t want to be trying to get out of a 3 year old car. Surprisingly, new cars being sold today with guaranteed future values are more expensive than previously as manufacturers price in the drop of future vehicles in the used car market.

[NGT2]

Originally Posted by Sutho

Used vehicle prices are determined by the price of new vehicles. At the moment we have dealers with limited stock availability holding out for retail prices and getting it. In another couple of years when manufacturing has returned to some kind of normal dealers will again be discounting stock to move it. That is when you won’t want to be trying to get out of a 3 year old car. Surprisingly, new cars being sold today with guaranteed future values are more expensive than previously as manufacturers price in the drop of future vehicles in the used car market.

I'm kind of counting on everything you just said. I can put another 40-50k miles on the three year old car I've got now. By the time I've done that, hopefully we will be back to where you can get a deal on that car someone drive for 9 months and changed their mind. Right now those can be more expensive than the new ones sometimes!