Resale prices are absolutely bonkers right now

[Tellmeride]

A quick check on Carvana.... holy crap, who's paying these prices?

 

[Husker Soze]

Yeah...it is getting crazy out there.

The dealer were I got my KT is offering me $6K more than what I paid for 2 years ago.
Talk about an investment earning versus the typical depreciation of a new car as soon as you drive it off the lot.

I really like my KT....so needless to say, I passed on their offer.

 

[PittPa]

Is the Kia plant at full production? If not, what percentage of the highest output.

 

[Tellmeride]

Yeah...it is getting crazy out there.

The dealer were I got my KT is offering me $6K more than what I paid for 2 years ago.
Talk about an investment earning versus the typical depreciation of a new car as soon as you drive it off the lot.

I really like my KT....so needless to say, I passed on their offer.

I would order a new one at MSRP, pocket the $6k and be driving a new car.

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[Husker Soze]

Is the Kia plant at full production? If not, what percentage of the highest output.

Good question...but I think the supply chain issue is affecting all production.

 

[NCBill]

A lot of people are overpaying for those used Tellurides right now. Go to Paramount KIA Hickory's web site, and you will see two used Tellurides for $70,000! One you can click on the original sticker and it shows an MSRP for $47,000. So a markup of OVER $22,000 for a USED Telluride.

 

[ronniebell]

Our situation has somewhat changed, and now I'm wondering about getting rid of our 2021 Telluride S trim AWD. I paid $41,535 (which included dealer markup and factory add ons) plus I paid for a Zeibart chip guard treatment and added tinted windows ($1,870 total). Plus later Zeibart did the Curt hitch and the 7/4 pin adapter plus LED lights (total $950). Also, I paid about $2,400 for taxes and licensing. A total of almost $56,000. How much do you think I could get for me all now?

 

[PittPa]

Our situation has somewhat changed, and now I'm wondering about getting rid of our 2021 Telluride S trim AWD. I paid $41,535 (which included dealer markup and factory add ons) plus I paid for a Zeibart chip guard treatment and added tinted windows ($1,870 total). Plus later Zeibart did the Curt hitch and the 7/4 pin adapter plus LED lights (total $950). Also, I paid about $2,400 for taxes and licensing. A total of almost $56,000. How much do you think I could get for me all now?

I would guestimate that a trade in would be less, a private deal would possible more. I think this is the issue I grapple with. So you sell your car and you basically get your time that you drove it for free. Ok, now what? Although the used car prices are crazy, it really doesn't mean that much to change you car situation, at least for me. Now if you own the car and you just hate it, its all good. I'm all for getting a good deal, I just can't see how its going to work out in my favor.

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[Buckeye-TRide]

Just traded in my 2020 Moss Green FWD EX and they gave me $42,250. Originally paid $36,500 plus tax and tags was about $39,000 all in. Bought a brand new 2022 Moss Green AWD, premium package, Nightfall edition, tow package for MSRP of $45,500-ish. Paid almost nothing in taxes ($240) and only added ~$3000 to my loan balance. I feel like I won the lottery. My offer from Carvana was $45k but I went with the dealer since it came out to the same price after the tax savings. Weirdest part was a called the dealer on a Saturday just to enquire and they said they had it coming in at the end of the month so I put down a $1k non refundable deposit and it was here less than a week later. Just happened to be the exact trim and color I wanted. Crazy lucky.

 

[HairyMilkshakes]

If you have a Shift facility near where you live then take your car to them on-site to sell. They'll give you $400 additional for 2 FOBs + all docs present. Just sold my car to them for $22.5K when all the other major competitors like Vroom and Carvana were trailing by about $2-3K.

 

[The Funky Boss]

I know first hand about the new car shortage as I sit and wait so long for the Telluride I ordered. Also the new car dealers by me have mostly empty lots, when just a year ago, those lots were always filled.

But I keep hearing about a used car shortage also…. Yet when I drive by the 2 CarMax locations in the Chicagoland area near me, their huge lots are literally full and overflowing with cars!!! It’s as if they are overpaying to hoard these used cars to cause the shortage and jack up the prices.

 

[Tellmeride]

I know first hand about the new car shortage as I sit and wait so long for the Telluride I ordered. Also the new car dealers by me have mostly empty lots, when just a year ago, those lots were always filled.

But I keep hearing about a used car shortage also…. Yet when I drive by the 2 CarMax locations in the Chicagoland area near me, their huge lots are literally full and overflowing with cars!!! It’s as if they are overpaying to hoard these used cars to cause the shortage and jack up the prices.

They are burning through VC funding in order to capture marketshare at all costs. Sort of like Zillow buying up all the houses until they realized they don't know what to do with them.

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