Car Market is INSANE Now!

[TrailerManNJ]

@scaredycat72 "The car is 14 years old so it's going to have issues. Plus if the seller was a scammer, he wouldn't have told you any of that information and he definitely wouldn't be holding the car for inspection. Your original post just said cars were selling sight unseen, which means he could sell his just as quickly.

I would go ahead with the inspection if you want a car. Nothing about this sounds fishy to me."

You didn't take the time to read this whole thread correctly, as your statements missed the mark completely. The "scammer" situation happened months ago, and is now water under the bridge. I just purchased a vehicle a few days ago, and I was simply updating my situation on here as others were wondering what happened during my absence.

 

[Morgana]

Hey, something to celebrate! Glad you hung in there, and glad it worked out. An inspiring story to start the new year right.

 

[ColoRockiesFan]

I am a bit late to this thread but I thought I’d add my story. I sold my 2017 Subaru to Carvana in June for an insane amount of money. I spent the next 5 months looking for a used, affordable Town & Country. After multiple car inspections I finally found a fantastic 2015 T&C with 54K miles. NO issues whatsoever! I am making this ready to camp in in the Spring.
Long story short - absolutely hire an inspector. The one time I did not, I bought a van with all sorts of hidden tissues. After multiple discussions of fraud, etc., the dealership refunded my money.
There are gems out there. It just takes time and patience …

 

[TrailerManNJ]

@ColoRockiesFan "I am a bit late to this thread but I thought I’d add my story. I sold my 2017 Subaru to Carvana in June for an insane amount of money. I spent the next 5 months looking for a used, affordable Town & Country. After multiple car inspections I finally found a fantastic 2015 T&C with 54K miles. NO issues whatsoever! I am making this ready to camp in in the Spring.

Long story short - absolutely hire an inspector. The one time I did not, I bought a van with all sorts of hidden tissues. After multiple discussions of fraud, etc., the dealership refunded my money.

There are gems out there. It just takes time and patience …"

Hey CRF! Sounds like we both went through the exact same madness in our used car quest lol. Sure both of us are glad it's over!!! I've been stricken with bad luck/timing my entire life. Really sucked having to look for a vehicle at pretty much the WORST time in history, as I not only paid more than I should have, but the stress was through the roof. Mark my words...

Now that I've gotten the car, the market will plummet soon, and used car values will fall to unprecedented lows

It appears we'll be kickstarting our nomad journeys at the same time, come spring. Let's keep in touch, as it's always good to have buddies and a dependable network in this lifestyle to trade information, etc. Feel free to PM me at any time

 

[Quinn]

Yes, I realize most of you already know this --- no breaking news. But INSANE is an understatement!!! I have alerts set up on most of the online marketplaces and classified websites, and I'm LITERALLY contacting sellers within an hour or two of them listing their vehicles, and they're already gone! People are buying cars at full asking price...sight unseen over the internet...who does that?!

I cannot express how frustrating it is to be searching for a used car now, at probably the worst time in the past 30 or 40 years. If I had the luxury of waiting to buy I most certainly would, but on the flip side, I don't think the perfect storm that created this debacle is going to end anytime soon. There are several components leading to this unprecedented scenario...

1. The global shipping crisis has created a shortage of vehicles, so dealers big & small are hoovering up any decent vehicle online and flipping them to help fill the cash flow gap.

2. Gas prices have about DOUBLED in the past few months, and with winter on the horizon it might just get worse. EVERYONE is in the market now for small/hybrid autos.

3. The explosion in car camping isn't helping things either, and again, most prospective nomads are looking for small/hybrid/van/mini-van type of autos.

Lump this all together, and you have a WHITE HOT sellers paradise. Going through one's extended friends & family network might be one of the best options now, if your circle is wide enough. Mine is not.

If any prospective nomad is reading this with the intention of buying a vehicle soon to hit the road, DO WAIT if you can do so. Aside from preventing a bundle of aggravation, you'll also save a bunch of cash, as many cars are ridiculously overpriced currently.

Agreed. You are soooo right.
End 2021 I sold my friend's 2010 50k 4WD Toyota tacoma for $18.5k. I think that is above book value...it had extras though, an after market almost $2k radio upgrade and same with tyres. It was in great shape but had several cosmetic flaws (sold on Craigslist). I ALSO around the same time sold my 2001 chevy teeny pickup the day it was posted. I asked less than book value but it needed work. People were falling over to buy it. I have a conscience otherwise it would have been easy to get more for it. (Let THEM rip the next person off and pay for it "later".)

It is with great relief now looking back that i bought a gently used relatively new super LOW mileage full size van first part of last year. It was a DIFFICULT decision (lots of coin$$). Very hard to find... there were only 2 of those I'd even consider in, say, a 300mile radius. Now looking back, what a fortunate thing a friend who went with me pressed me to buy it. The van was adorable. Even then new they were SOOOO expensive. (There were NO new vans on the dealer's lot AT ALL when i took the van there for an inspection, where previously they kept 20-30 new vans for sale).
Currently, i shiver to think, how pricey my van would prob be. I probably could sell it for more than I paid eventhough i added almost 10k extra miles.
To anyone who needs a used car....YES, if at all possible hold off. One can only hope thibgs will improve. But...... we thought that before.

And YES the used RUs (SUBARUs) are very expensive.

Just one last thought... WHO HAS ALL THE MONEY TO BUY ALL THESE NEW AND barely USED CARS let alone NEW RV's. Clearly not everyone is suffering.

 

[Quinn]

UPDATE: I have the inspector going to look at the car tomorrow, but the seller texted me a few minutes ago with a STRANGE message.

After confirming that the inspector contacted him to set up a time, he then wrote the following, which I'm quoting...

"BTW - If he finds anything wrong, just tell me you don't want the car. I don't care to know any more because then I feel like morally I would need to disclose that to someone else if I knew about it. So just either yes you want car or no you don't".

WTF?!?! The seller just admitted to me that he's a shifty *******. I don't know if I should cancel the inspection now or what. If I do, I'm out $175 because I canceled the appointment, as opposed to it being weather-related, the car sold already, etc., all of which the company would provide a credit for.

 

[Quinn]

@tx2sturgis TMNJ...did you buy it? What happened?

Closure dude...we gotta have closure....

Hey everyone! Hope you are all having an excellent holiday season!!!

I am SO sorry for leaving this thread hanging. Just now checking in again after almost 7 or 8 weeks, and as a few members were wondering what happened to me and my car search, I'm updating this conversation with some great news.

Prior to my absence here, I *thought* I'd found a solid vehicle to begin my nomad journey, and posted some details regarding that transaction. Well...

That deal never got made, primarily due to the seller being absolutely stir-crazy, and making all kinds of demands in order to complete the transaction! After this, it was all downhill from there lol.

Cycle for last couple of months has been: Search like mad for a few days to find a good condition used Prius online, then hire a car inspection service to go assess the vehicle in person, then haggle over price, and finally, hopefully seal the deal. This process repeated itself FIVE times due to many factors - vehicles weren't up to snuff after inspection, couldn't agree on price, one seller backed out of our arrangement at the last second, etc. Each time this happened would cost me a week or two in time, and $200 for the car inspection. It has been MADDENING, and even more so in this upside down market, where older cars are literally being sold for 2 and 3 times their usual value!

After losing out on a CREAM PUFF Prius 2 weeks ago by a few hours, one that had 96,000 miles in exquisite condition, and was owned by one older couple for its entire life, I almost felt like giving up and throwing in the towel. My OCD list of needs was too great, the market was too hot for my taste, and honestly, I was tired and beat up from the search itself.

Shortly before Christmas, I half-heartedly resumed the hunt and went on Facebook Marketplace for what seemed like the billionth time. Here we go again, I thought. And lo and behold, after a bit of perusing...

There it was, my newest target! Carefully reviewed the seller's ad, and it met all of my needs: price, miles, private seller, and so forth. Spoke to the owner over the phone and found out it was still available. Went through the process yet again, and this time...

IT WORKED OUT!!! Everything was finalized today, and I'm now the happy, proud owner of a 2008 Prius which I've nicknamed Elvis (yes, it's a he). Next step is getting it hauled from NH to me in NJ.

So, it looks like Elvis and I will be hitting the road full-time within the next few months, after I sort out some medical affairs, and get him outfitted with necessities (bed, fridge, solar panel, etc.). My hope is to have wheels on the highway sometime in March, just in time for spring.

I cannot thank everyone who chimed in here with feedback and other information enough. Going full-time is equal parts exciting and downright scary...at least for me. But in my heart of hearts, no matter what transpires, being out there in the world - LIVING FREE - I believe the journey will be a rewarding one.

I'm glad to be a part of this online community, and I hope to get to know all of you more fully in the coming future.

P.S. - New forum is looking (and more importantly, working) great!!!

View attachment 29785

Hey if you are going to live in a blue suede shoe....the only thing to do....is call it ELVIS ! Congratulation$!

 

[NoOvernightParking]

Anyway....after many more of these 'dead ends' I finally broadened the acceptable list of substitutes and have ended up with a decent, 2 wheel vehicle. Not my first pick, but it will work for me, for now, and actually I saved a bit of money when I stopped trying so hard to get exactly what I wanted.

I would appreciate a thread on the target vehicle and the acceptable substitute...

 

[WVWildflower]

I have a 2008 Prius with under 100k miles. My step-dad just got out of a nursing home and can no longer drive. I just spent over 4k at Toyota fixing the car. I paid 6k for it two years ago, plus other money spent by my step-dad. If someone wants a car, I would rather sell it here to someone who needs it than on Carvana. It would need to be a cash sale since I can't deal with fake checks and all that. (Long Island)

I don't live in my car, but we camp all the time and I've followed Bob and this forum for years.

 

[ras96mg]

It's almost funny seeing this since inflation has also gotten worse. I bought my van at the worse possible time but the price was actually good for what I got. Some of us will get lucky I guess. You'll just have to keep looking around. There's always an opportunity.

 

[rruff]

Some good news... prices might be starting to decline...

 

[Telcobilly]

Ok, opinions needed!!! A Craigslist seller just got back to me and we hit it off well and spoke for about 40 minutes. Said he's had many calls about it, but we had such a great chat he said he'd hold it until my inspector came out to look it over. But a few things are making me uneasy. Please share your thoughts --- especially if you own or have owned a Prius before.

His Prius is a 2007 with 178,000 miles. Car is in excellent condition inside & out. He's asking $4,750. That's all the good. Now for my concerns...

He said the hybrid battery died about 2 years ago, so he had it replaced with one from Green Bean, which crapped out after a couple of months. So GB swapped it out as it was under warranty, and that one too went kaput a few months later. GB claims about 8% of their batteries short out or some other nonsense, and this is all normal. So GB replaced it yet again under the warranty, and this one (3rd hybrid battery) has been fine for about the past year. If I bought the car the GB warranty is transferable to me, and has about 1.5 years left on it.

Next, he said the 12v battery died last month and he spent $300 on a new one, which is working fine.

The rear hatch door latch broke, and he replaced that entire panel with a new latch and everything.

Only other issue is, he said the tire pressure gauge warning light has been on for the past 8 years, but it doesn't affect the car at all.

To me, these are a lot of issues. My gut feel is that the car is starting to break down/fall apart. But the other part of me says it might be a great deal as HE paid to fix everything, not me. Plus I have the 1.5 year warranty on the hybrid battery.

What say you? I'm torn myself. Especially since I've never owned a Prius. Opinions appreciated!!!

My friend where I'm staying has a 2006 Prius daily driver with over 200K miles. He had the HV battery replaced a few years ago at Toyota, has to put freon in the A/C once every summer and he's good in brutal hot TX for another year. The upper dash lights act up which is a known issue, but there's a trick to get them back on. The engine runs and sounds good, no smoke. Transmission is solid. The car has quirks, but it's 16 years old. He wouldn't hesitate to go anywhere in it. There's a reason they are used as taxis and ride share cars...

 

[rruff]

Prices have been dropping this year, but it has a long way to go to get to "normal"... and it ticked up last month.

 

[deryk_the_gypsy]

I have thought about selling my little 2010 transit connect xlt all camper-ized I would like a small pickup instead...got into recumbent trikes and need something that can tow. But if ya sell your vehicle you need to be able to afford to buy the next one lol

 

[Zerpersande]

Prices have been dropping this year, but it has a long way to go to get to "normal"... and it ticked up last month.

it’s the same situation here in Japan. And buying a new one requires a very long wait for the car to be manufactured. There is no stock at the dealership.

 

[john*thomas]

Example. I have a 2015 Chevy City Express. I bought it 4 years ago for $10,900. A lady pulled out in front of me and did $9700 damage. I figured there was no way the insurance company would repair it. That was until I started looking and it's hard to find that same van today for less than $14-$15,000.

I hopefully get it back this week.

 

[bullfrog !]

Hope all goes well!

 

[rruff]

Example. I have a 2015 Chevy City Express. I bought it 4 years ago for $10,900. A lady pulled out in front of me and did $9700 damage. I figured there was no way the insurance company would repair it. That was until I started looking and it's hard to find that same van today for less than $14-$15,000.

The latest used car price index is 231, compared to ~150 before the pandemic, a 54% increase. Vans have gone up more than that I think.

Sorry about the crash, it sucks to have your home damaged...

 

[john*thomas]

The latest used car price index is 231, compared to ~150 before the pandemic, a 54% increase. Vans have gone up more than that I think.

Sorry about the crash, it sucks to have your home damaged...

To be fair and honest it's only a part time home.

 

[maki2]

The dollar value of my car has stayed steady for the last 5 years. I check it now and again.