View Single Post
  #9  
Old 03-19-2009, 10:20 PM
gpfarrell's Avatar
gpfarrell
gpfarrell is offline
Senior User
Join Date: Nov 2004
Location: Pittsburgh!
Posts: 336
Likes: 0
Received 1 Like on 1 Post
Used Expy prices have been climbing for several months.

Actually, the prices for most late-model used cars have been climbing.

3 years ago you could buy a 2-year old used car or $350/month or lease a brand new one - same model - for $300 month. Car makers subsidized leases to push iron and that crushed used car values.

Now they're all in too much of a cash crunch to subsidize leases any more. People are turning in the lease after 2 or 3 years and learning that they either have to step up to $550/month to buy (not lease) a new vehicle or they can buy a used one for $350/month.

Repeat that several hundred thousand times across the country each month and used car values have been climbing because there is more demand for used vehicles.

Those values will only climb so far... eventually buyers will choose new over used once the prices normalize.

With Expy's its probably more pronounced because the 2009s appear to be in short supply until the factory starts making more.