Quote:
Originally Posted by E92inNC
I think most if not everyone here is aware of the recent stories about the car market in 2024- oversupply, increased repos, possible economic downturn, etc. I’m already seeing the effects with the disappearance of market adjustments and the return of low to 0% interest financing and rebates.
I’m looking into getting a CT200h as a daily beater. I’m thinking of waiting until summer time to get one but I think that even if there is a downturn in the car market, it won’t have a noticeable impact on Lexus as it would most other brands. Any thoughts on if I should wait it out to possibly save a few thousand bucks?
Also, if anyone owns one, any concerns on the hybrid battery and what it cost you to replace? I’m targeting 2013-16 with 60-120k miles.
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The used car market is softening, the Manheim index is at a level last seen 3+ years ago.
https://www.coxautoinc.com/market-in...es-episode-16/
If you need a car now, buy it. If you don't, wait. Prices will likely be lower in 6 months than they are now. There are always exceptions - highly desirable cars will likely always be desirable and in limited supply with elevated prices. Examples include certain AMGs, M-cars, 911, Lambo, Ferrari, etc.
The U.S. economy is strong now and I don't see a crater but rather a continued softening in preowned vehicle prices. In 2024 the auto industry has the opportunity for a somewhat "normal" year as long as it doesn't self-inflict wounds on itself, for example a labor strike.