The Expert Podcast

Inflation is up . Economy may be in a recession . Everybody's expecting . Prices to crash . The same time real estate investors are buying up properties but what about cars ? People are saying that car prices that spiked up are going to go down . Well , At least at this point dealers don't think so . Here's a vehicle in the used car inventory of a local dealer . It's a 2020 pre-owned . Chrysler hybrid van . This is a minivan from Chrysler . this particular car has 18,000 miles on it . And it's currently priced at $49,000 Is that a lot of money Is it not a lot of money ? Well let's take a look . Here's the window sticker when their car was brand new we researched the VIN number which is right here . In the ad . It ends in 4 8, 7, 9 . Here's the original new car window sticker . Of that vehicle for 8, 7, 9 . When it was brand . new it's sold for $49,330 . It's the same vehicle . That's currently selling for 49,000 . Plus shipping fees I'm guessing the shipping fees are more than $330 . So more than likely . This car will sell . Two and a half years later . With 18,000 miles for more than it was new . What does that say about the used car market Well at least for this dealer , they're not too scared about not selling cars . That they're not taking a shot with this price Will they get it ? I don't know We'll take a look in a week or two to see if it's still for sale . Dealers don't Price cars in a way that don't sell because if they did they would never sell any cars They price them at a number that has a reasonable opportunity . For getting the car sold . What does this say for the used car market Well as of the middle to end of July 2022 . The dealers aren't running scared yet . Because they're still pricing cars . As a used car what is sold for new ? Being two or three years old What are you seeing in your market ? Are you able to find used cars ? It could be . That the dealers know that new cars aren't coming . There's no more new cars on the way Because if they were , they wouldn't be taking shots with these used cars . There's no new cars in inventory . And maybe they know something We don't look at our other video for a clue on that There may not be any more new cars come in anytime soon . That's why I use cars are still high.