How long will this used car market last?

[Louk]

Prices are so crazy right now I'm just curious as to when everyone thinks they will finally pop????
I know it will be once the supply chain is back in motion and no more shortages blah blah... but when will that be?
I am going to guess a peak in the 3-4 month range and then start to see a decline in price to normal ranges in 9-10 months.

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[klink]

I suspect this will last at least another 6 months. I view it almost like a traffic jam on the highway it's quick to happen but very slow to subside. Don't be too hasty selling your car so these online dealers it may be worth significantly more in a couple more months.

 

[Stranger706]

Every report I've seen indicates used car pricing should peak late summer or fall and remain high for the rest of the year and possibly into next year. The chip shortage is a huge issue across all types of manufacturing not just cars.

 

[klink]

I am seriously considering selling my 2016 Challenger SRT which I love by the way but it is an automatic, to order a new Mach 1 from Grainger. But I'm going to hold off for a few more months and hope that the value goes up a bit more for my car.

 

[MidwayJ]

I'm trying to resist the temptation to sell because even though I'm confident of getting a good price I know I'll want to upgrade. Car is paid off and replacing another older vehicle is a bigger priority right now.

 

[Stranger706]

I am seriously considering selling my 2016 Challenger SRT which I love by the way but it is an automatic, to order a new Mach 1 from Grainger. But I'm going to hold off for a few more months and hope that the value goes up a bit more for my car.

I would go ahead and order that M1 and get on the wait list, you probably won't get it until late summer which is right when used car values are expected to peak out.

 

[Louk]

I suspect this will last at least another 6 months. I view it almost like a traffic jam on the highway it's quick to happen but very slow to subside. Don't be too hasty selling your car so these online dealers it may be worth significantly more in a couple more months.

I don’t plan on selling my Bullitt, I’m just curious. We do have a allocation for the 3rd gen raptor at sticker though. And currently our 2nd gen is worth about 20% more than when we bought it. The Raptor probably won’t be here for another 5-7 months at minimum though

 

[bluebeastsrt]

It took us almost a year and a half to get into this mess. My guess is it’ll take at least that long to get out. With this administration maybe twice as long!

 

[I Bleed Ford Blue]

He's not talking about the 6G admin.

 

[LSchicago]

I think about another year before the semiconductor chip supply is normal. Then maybe 6 months for car prices to stabilize. Maybe by the end of 2022.

 

[BEERCHAMP]

He's not talking about the 6G admin.

They could do a better job!

 

[shogun32]

I give it 6 weeks. 9 at most.
Koons has already yanked ADM.

 

[FreePenguin]

its funny, 2 years ago I bought my 2017 grabber blue premium as a leftover, in 2019, was never sold sitting on showroom for (34k msrp) but I got it for 21.6k before tax, 23k otd. full warranty and everything started lol. car had like 15 miles on it.

I have been beating myself up because I still felt it was too expensive, til now, im really appreciating the price of it now.

 

[Bikeman315]

With this administration maybe twice as long!

"This" administration had zero to do with getting us into this situation. Actually the last administration didn't either. But the current administration is trying to help.

 

[shogun32]

Meet me back here end of July, so I can laugh at your optimism.

the OP question was "when will it pop". I think we've already or immanently reached apogee of lunacy. The shortage will continue for another 5 or more months but the mania will have subsided long before and people will simply exit the market till the shortage is mostly over. Prices will steadily decline as the buyers evaporate. In all truth how many people MUST buy a used car right damn now? Not that many I'm sure to keep this up.

What do I win if I'm right?

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