Topic: Used car price are going crazy

[Ex-airbalancer]

Not any used cars on the lots,
 one dealer in town has a car carrier that heads weekly to the Divide States of America weekly
https://www.npr.org/2020/10/28/927971920/a-pandemic-sticker-shock-used-car-prices-are-through-the-roof

[revalations]

Yep, the life I live. Been doing the US wholesale thing for the past few years. The market is crazy right now, trucks I bought 2 years ago are selling for 4-5K more today. The new tax on any truck manufactured outside the US had left many off the table for exporters, but with shrinking used inventories those units are in high demand for our own dealers driving our prices way up too.

A good example; Bought a 2014 F250 GAS 3/4 ton crew cab, paid $26,400 CDN, my US buyer sends it to auction in Oklahoma, sells for $27,700 USD! Sadly, I'm not on the receiving end of the money exchange profits.

[OliverD]

The stock at my local dealers is the lowest I've ever seen.

The Chevrolet/Cadillac dealer has a huge lot and they've got just 81 new cars in stock Usually they might have that many Silverados alone, or more. Now they have just 29.

Oddly, of the 16 Cadillacs they have, just one isn't an XT4.

Their web site says they have zero used cars. Not sure if that's accurate though.

[PJungnitsch]

It turned out we bought our used RX at the right time. Prices just seem to have gone up for them since

[2JDM]

Yup I noticed dealers here in the Ottawa area are very firm on used car prices.

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[JohnnyMac]

The stock at my local dealers is the lowest I've ever seen.

The Chevrolet/Cadillac dealer has a huge lot and they've got just 81 new cars in stock Usually they might have that many Silverados alone, or more. Now they have just 29.

Oddly, of the 16 Cadillacs they have, just one isn't an XT4.

Their web site says they have zero used cars. Not sure if that's accurate though.

Once that GM dealer was bought by Fox they no longer sell used vehicles, neither does the Subaru dealer that is owned by the same group.  From what I hear both offer the lowest trade in value in the city.

[OliverD]

The stock at my local dealers is the lowest I've ever seen.

The Chevrolet/Cadillac dealer has a huge lot and they've got just 81 new cars in stock Usually they might have that many Silverados alone, or more. Now they have just 29.

Oddly, of the 16 Cadillacs they have, just one isn't an XT4.

Their web site says they have zero used cars. Not sure if that's accurate though.

Once that GM dealer was bought by Fox they no longer sell used vehicles, neither does the Subaru dealer that is owned by the same group.  From what I hear both offer the lowest trade in value in the city.

That is truly bizarre.

I know that the Subaru store (back when it was paired with Volvo) had a waiting list for used Foresters. Seems like a no brainer to sell in demand used cars like Outbacks, Foresters, Silverados, etc.

Do you know if ReCar is owned by the same group? I suspect it is, they have a lot of relatively new used cars. They frequently have Camaros and WRXs, for example.

[JohnnyMac]

The stock at my local dealers is the lowest I've ever seen.

The Chevrolet/Cadillac dealer has a huge lot and they've got just 81 new cars in stock Usually they might have that many Silverados alone, or more. Now they have just 29.

Oddly, of the 16 Cadillacs they have, just one isn't an XT4.

Their web site says they have zero used cars. Not sure if that's accurate though.

Once that GM dealer was bought by Fox they no longer sell used vehicles, neither does the Subaru dealer that is owned by the same group.  From what I hear both offer the lowest trade in value in the city.

That is truly bizarre.

I know that the Subaru store (back when it was paired with Volvo) had a waiting list for used Foresters. Seems like a no brainer to sell in demand used cars like Outbacks, Foresters, Silverados, etc.

Do you know if ReCar is owned by the same group? I suspect it is, they have a lot of relatively new used cars. They frequently have Camaros and WRXs, for example.

I doubt it, from what I have been told any trade ins go to the highest bidder, a lot of them go to the Mitsubishi/Volvo dealer.  I'm sure they still make a set amount on each trade in, but the bulk of the profits on those used vehicles are realised by the next used car dealer.

Like you I don't understand the logic behind it, used Subarus are highly in demand and they could well them at a premium.

[Ontariodriver]

Having just brought a used car, the prices here, are though the roof. I paid before tax, $9,100 for a  2011 Toyota Camry, LE. with 84,000 on the clock. I was finding very hard, the cars that seem reasonable price, either or, had, been in smash, or were not as advertised. Private sales was awful two. Most owners that said the car was safety, were not. I ended going main dealer, because, I thought it was a good deal, It was fairly close to a private sale price, I can't believe I'm say that for 9 year old car. Would Adam and Eve it. (believe it) Is me 10 years ago this wouldn't have been the case. 

[EV-Light]

Having just brought a used car, the prices here, are though the roof. I paid before tax, $9,100 for a  2011 Toyota Camry, LE. with 84,000 on the clock. I was finding very hard, the cars that seem reasonable price, either or, had, been in smash, or were not as advertised. Private sales was awful two. Most owners that said the car was safety, were not. I ended going main dealer, because, I thought it was a good deal, It was fairly close to a private sale price, I can't believe I'm say that for 9 year old car. Would Adam and Eve it. (believe it) Is me 10 years ago this wouldn't have been the case. 

Interesting....I find cars to be on the losing end of this spike.

Trucks are the biggest winners, same with certain SUVs.


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[Ontariodriver]

Having just brought a used car, the prices here, are though the roof. I paid before tax, $9,100 for a  2011 Toyota Camry, LE. with 84,000 on the clock. I was finding very hard, the cars that seem reasonable price, either or, had, been in smash, or were not as advertised. Private sales was awful two. Most owners that said the car was safety, were not. I ended going main dealer, because, I thought it was a good deal, It was fairly close to a private sale price, I can't believe I'm say that for 9 year old car. Would Adam and Eve it. (believe it) Is me 10 years ago this wouldn't have been the case. 

Interesting....I find cars to be on the losing end of this spike.

Trucks are the biggest winners, same with certain SUVs.


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I think that has more to do with the sticker price, SUV and Trucks are pretty expensive new, some are luxury car money, which make sense when used they going to be a lot more, than they used to be. New Vehicles are sold on monthly payment these days.

[ArticSteve]

Anyone buying on finance or leasing a F series truck cannot export same to the USA for 18 months.  Signing Ford's waiver is mandatory or no vehicle.  That's how nuts it is.

But this is nothing new.  Used farm and construction machinery has been going to the USA for years. 

[Seafoam]

I have notice a price hike on kijiji too over this summer.    trucks are way up.   =

Here is an example 2016 Tacoma base model https://www.kijiji.ca/v-cars-trucks/annapolis-valley/2016-toyota-tacoma-sr-low-km-call-now/m381260?undefined

This truck was  $ 28300 in 2016 . It is now 5 years old 

[ArticSteve]

^^  that is absolutely BRUTAL.  Apparently a "NO HAGGLE" price plus $500 Admin Fee just to put the icing on the humiliation cake. 

That's $35,075 over the curb for an ultra base 5 year old Taco.  Current mileage is good, but still. 

[OliverD]

I have notice a price hike on kijiji too over this summer.    trucks are way up.   =

Here is an example 2016 Tacoma base model https://www.kijiji.ca/v-cars-trucks/annapolis-valley/2016-toyota-tacoma-sr-low-km-call-now/m381260?undefined

This truck was  $ 28300 in 2016 . It is now 5 years old 

It would have been more than that - $28,300 was for a manual, RWD Tacoma. This one is 4WD and auto but I'm a bit confused because Toyota supposedly didn't sell an automatic SR+ 4WD in Canada.

[ArticSteve]

Bothered to look at the photos; that vehicle has the convenience package which is a must have upgrade.

[Seafoam]

I have notice a price hike on kijiji too over this summer.    trucks are way up.   =

Here is an example 2016 Tacoma base model https://www.kijiji.ca/v-cars-trucks/annapolis-valley/2016-toyota-tacoma-sr-low-km-call-now/m381260?undefined

This truck was  $ 28300 in 2016 . It is now 5 years old 

It would have been more than that - $28,300 was for a manual, RWD Tacoma. This one is 4WD and auto but I'm a bit confused because Toyota supposedly didn't sell an automatic SR+ 4WD in Canada.

It isn't 4wd hence why I said base model. Add says this but it isn't because no 4wd switch on dash where it should be from pictures.The 3rd gen 2wd sit at about same height as the 4wd models unlike the previous generations.

https://www.autotrader.ca/research/toyota/tacoma/2016/

[Great_Big_Abyss]

I have notice a price hike on kijiji too over this summer.    trucks are way up.   =

Here is an example 2016 Tacoma base model https://www.kijiji.ca/v-cars-trucks/annapolis-valley/2016-toyota-tacoma-sr-low-km-call-now/m381260?undefined

This truck was  $ 28300 in 2016 . It is now 5 years old 

It would have been more than that - $28,300 was for a manual, RWD Tacoma. This one is 4WD and auto but I'm a bit confused because Toyota supposedly didn't sell an automatic SR+ 4WD in Canada.

It isn't 4wd hence why I said base model. Add says this but it isn't because no 4wd switch on dash where it should be from pictures.The 3rd gen 2wd sit at about same height as the 4wd models unlike the previous generations.

https://www.autotrader.ca/research/toyota/tacoma/2016/

You're totally right.  The 4wd selector is a fourth knob to the left of the HVAC controls, as shown in the below picture.  The linked-to truck doesn't have that knob.

[HeliDriver]

Their autotrader listing has it as RWD:

https://www.autotrader.ca/a/toyota/tacoma/greenwood/nova%20scotia/5_50524183_20121017152308015/?showcpo=ShowCpo&ncse=no&showVs=1&orup=23_20_69&sprx=-1

[OliverD]

I have notice a price hike on kijiji too over this summer.    trucks are way up.   =

Here is an example 2016 Tacoma base model https://www.kijiji.ca/v-cars-trucks/annapolis-valley/2016-toyota-tacoma-sr-low-km-call-now/m381260?undefined

This truck was  $ 28300 in 2016 . It is now 5 years old 

It would have been more than that - $28,300 was for a manual, RWD Tacoma. This one is 4WD and auto but I'm a bit confused because Toyota supposedly didn't sell an automatic SR+ 4WD in Canada.

It isn't 4wd hence why I said base model. Add says this but it isn't because no 4wd switch on dash where it should be from pictures.The 3rd gen 2wd sit at about same height as the 4wd models unlike the previous generations.

https://www.autotrader.ca/research/toyota/tacoma/2016/

Ah gotcha. Yeah, that price is bonkers then.