Dale – looks like used cars are worth more wholesale than retail. Example – we had an 08 Sebring convertible priced at $16,900 – #1 in vAuto, it brings $17,900 and an 06 330M, we had $16,200 in it, and it brings $19,500 at auction. It is definitely a silly season. It reminds me of musical chairs. A dealer better not be holding inventory at today’s prices when the music stops.
Gary
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Week in and week out I have watched CarMax pay retail plus for inventory here in the NorthEast. And with a shortage of True Clean Units either you pay or you do not play. Lean is surely a mantra but I have watched the prices escalate for the last 5 months. Has to end somewhere but my gut is telling me we are in for an extended period of a shortage of quality used units.
Re: Ridiculous auction prices
like to see what happens to late-model used demand when aggressive dealers start advertisng 09 Camry’s for !3,998 net of “cash for Clunkers” rebate. not that many people will qualify-but- the perception will be altered dramatically
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