Car value shock!!

[wilkinda65]

Out of curiosity I shipped my car around at CarMax, Dodge dealer and Chevrolet dealer. Pretty much $42k to $44k. I’m shocked this car has lost this much value

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[UNSAFE]

What model?

 

[wilkinda65]

It’s all in my signature

2024 Grabber Blue GT Premium w/auto, NPP. Sticker Ed for just under $56k

 

[69machI]

From what I've seen in the car market, dealerships have started to build up a much larger new car inventory over the past few months. It only makes sense that as new cars are more readily available, and now have promotional interest rates, that used car prices, which were still elevated from the pandemic, will start to go down in value.

 

[erocker]

Sounds about right from a dealer.

 

[Rocket Man]

I'm shocked it only lost that much. Used car values are dropping along with new car prices. Cars that had large ADM's are now below MSRP. That's why I'm hoping to get about 9k off of my Mustang purchase on a 60k MSRP.

 

[Karguy]

The moment you drive the car off the lot it dropped 25% in value unless you buy a few exotics or a 911 GT3 or S/T....That the new car smell tax...LOL

 

[Rocket Man]

Yep. Exactly right.

 

[RJV15]

It took long enough for car prices to drop.
Keep in mind, they'll give you 45K and try to sell for 55K.
I dont think anyone is in a hurry to buy a used 2024 Mustang GT at Carmax when there is new stock at Ford dealerships.

 

[qwk93ta]

I'm shocked it only lost that much. Used car values are dropping along with new car prices. Cars that had large ADM's are now below MSRP. That's why I'm hoping to get about 9k off of my Mustang purchase on a 60k MSRP.

I hope you find a dealer that will give you $9k off, I got $5k off, 2.9% for 48 months from Ford and free shipping on a 24 m6 premium GT with recaros, mag ride, active exhaust and PP1. I probably contacted 20 dealers before I found this deal. MSRP is $62,720. Good luck in your search.

 

[JAL]

I hope you find a dealer that will give you $9k off, I got $5k off, 2.9% for 48 months from Ford and free shipping on a 24 m6 premium GT with recaros, mag ride, active exhaust and PP1. I probably contacted 20 dealers before I found this deal. MSRP is $62,720. Good luck in your search.

That's exactly my spec and I paid MSRP and 4.99% for 72 months. And there was absolutely no negotiation possible. They are super rare still here, and I haven't seen one on a dealer's lot that wasn't a customer order.
There is a vast inventory of well discounted Mach-E at every Ford dealer though.

 

[steveo1960]

During COVID prices for used cars were insane. These days it's returning to normal. With specialty cars like Mustangs, Vettes and so forth, the private sale will appeal to people who appreciate the car rather than cookie cutter CarMax, Carvana, etc.

 

[qwk93ta]

That's exactly my spec and I paid MSRP and 4.99% for 72 months. And there was absolutely no negotiation possible. They are super rare still here, and I haven't seen one on a dealer's lot that wasn't a customer order.
There is a vast inventory of well discounted Mach-E at every Ford dealer though.

I agree, I found 3 within 500 miles of my house. Mine was ordered by someone else and sat at the dealer for over 6 months, guess they wanted to finally sell it.

 

[robvas]

They lose 10% once you drive them off the lot

 

[LETHAL]

Those of us who ordered, and paid MSRP last year, are boned for a while. I do not plan on trading for a long while so.

Our 22 F150 has lost $7k in trade since last fall.

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