|
The crazy used car market caused by COVID and the chip shortage has mostly corrected itself.
The bigger problem is financing something older than a 2016 model. Credit unions and competitive banks won't write a 5-year note on them, and jack the interest rates because of the financing risks with older vehicles. If the buyer wants to pay almost usury interest rates, they would probably be better off buying/leasing new.
If you have cash or can pay on a 36-month note, you will probably find that prices will plummet on ~7 year-old cars because financing becomes an issue for those who can't.....
__________________
Currently BMW-less.  |