What’s most surprising to me is that the average car purchase was $48K. Seems like a lot of money given that the average salary in the US is $60k. But then again, people on lower income brackets may be buying used vehicles.
I'd personally never buy a new car again. The moment you drive it off the lot, you've lost value.
The hard part with that though is finding a used car that fits your criteria. Even with all the search engines online now, they don't cover all the various features cars can come with. You setup a specific search and they email you seemingly random results. It is maddening.
I think part of the value drop is due to a fundamental lack of certainty over what has happened in the life of a used car, however short. Did it have undocumented problems, etc. If you buy a new car you don’t have that uncertainty.
My understanding is it's the opposite. No one services vehicles in Japan because after a few years they cost more to keep on the road than they are worth.
Indeed, my first used car that was otherwise in good repair and wasn't cheap had a recurring carpet beetle infestation that popped up each spring. Hundreds of the things crawling out of every crevice, and there was no way to know about it until months after I had purchased the vehicle. Could never find the source, but got it managed with yearly treatment. It makes me quite reluctant to buy used cars again.
I've occasionally heard of those kinds of problems from acquaintances, but I've heard and seen so many more newly introduced defect problems and individual car misassembled problems. On average, I think a used car is a car that has been debugged under warranty by someone else with its design critiqued collectively.
The discount for the possibility that the last owner was in the bottom 20% seems to not take into account the positive aspects of a car that is at least 2 years old, 80% of the time.
Hmmm - given that just a couple of weeks ago while looking at cars literally every dealer had a 4k to 10k “market rate adjustment fee” (literally what they called it) I’m not sure how much I trust a claim that this is magically over. I don’t see it really stopping until people can just buy directly from the manufacturer.
Oh and when we did buy a car, they now have a “contract” you have to agree to that basically says “you can’t exercise your rights under the CA lemon law”. What fun!
yeah, but obviously that would be expensive to find out. Really there should be a law that says creating contracts that remove rights granted by law is itself an illegal act for which there are fines - otherwise there's no reason to not have those contracts and use that to mislead people as to their rights :-/
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[ 3.6 ms ] story [ 65.0 ms ] threadThe hard part with that though is finding a used car that fits your criteria. Even with all the search engines online now, they don't cover all the various features cars can come with. You setup a specific search and they email you seemingly random results. It is maddening.
They're some of the most over serviced and least questionable vehicles I've ever seen
The online JDM car auctions are fascinating to observe even if you're not interested in cars
The discount for the possibility that the last owner was in the bottom 20% seems to not take into account the positive aspects of a car that is at least 2 years old, 80% of the time.
They are typically driven by older people who want the latest shiny thing after the lease expires after 3-4 years vs being dumped due to issues.
https://oag.ca.gov/consumers/general/cars