Used Value Trend

[565565]

Ok, that still doesn't make it a "good" decision. For most people their income didn't pace with inflation and their savings have less buying power. If you understand the affects in epic inflation it only compounds the terrible decision to sell the '22 in inflated 2024 dollars. That $80k used price is more like $68k in 2022 dollars when the buyer locked up his money in that car. Inflation took away buying power forever, just because the rate is lower doesn't mean we're recapturing the value of the dollar, the bleeding is just less.

I wouldn't be making this point if the car was majorly refreshed, but its the same dam car.

Buying new is never a good decision when you can buy a slightly used version for the same for much less money. Luxury vehicles are known for heavy depreciation.

What happened in the last few years wasn't normal. Buying a new car and immediately being able to sell it above sticker isn't normal. Massive depreciation on luxury sedans is entirely normal.

 

[rubberduck]

The day I bought my 5BW I could have taken it home and sold it for $10K more than I paid for it. But, that would have defeated the purpose of why I bought it.

 

[raptor5244]

Buying new is never a good decision when you can buy a slightly used version for the same for much less money. Luxury vehicles are known for heavy depreciation.

What happened in the last few years wasn't normal. Buying a new car and immediately being able to sell it above sticker isn't normal. Massive depreciation on luxury sedans is entirely normal.

True, that is why I tried to purchase a lightly optioned example to help reduce the depreciation hit a little bit. It is still bad, but a little less. For example, my 2022 with M6 transmission was $61k msrp. With 6,300 miles I am seeing offers close to $50k for my car. I still see all those 4BW sticker editions sitting on the lots for $90k+. Sadly, they will be worth $55k-$60k as you drive off the lot.

 

[CGB]

That is still confusing though. As noted, the Caddy dealer offered me 60k and Carvana 78,400. That's a huge difference.

 

[NorCal Blackwing]

That is still confusing though. As noted, the Caddy dealer offered me 60k and Carvana 78,400. That's a huge difference.

Caddy dealer is working by fuddy duddy "car dealership rules" (making profit and minimizing risk) whereas Carvana is actually a Tech Startup which means the rules are different: it is important for Carvana to lose money hand over fist on every car it sells, and sell a lot of them. That is what attracts investors to pile in more money.

https://www.cnbc.com/2024/02/02/carvana-leaner-and-ready-for-wall-street-redemption.html#:~:text=Carvana%27s%20debt%20grew%2C%20including%20the,speculate%20bankruptcy%20may%20be%20ahead.

 

[savethemanual]

True, that is why I tried to purchase a lightly optioned example to help reduce the depreciation hit a little bit. It is still bad, but a little less. For example, my 2022 with M6 transmission was $61k msrp. With 6,300 miles I am seeing offers close to $50k for my car. I still see all those 4BW sticker editions sitting on the lots for $90k+. Sadly, they will be worth $55k-$60k as you drive off the lot.

View attachment 27551

I think this is true for both blackwings.

The options really don't add any value maybe beyond the seats. In trade in scenarios these add maybe a few hundred dollars to the value of the car. So best bet is get the least number of options if you plan to sell the car at some point.If you're keeping the car forever get what you want.

 

[savethemanual]

That is still confusing though. As noted, the Caddy dealer offered me 60k and Carvana 78,400. That's a huge difference.

Not surprising.
Carmax, carvana vroom etc offer prices much closer to private party values. They hope to make their money by scale and efficiency of operations.

 

[CGB]

Caddy dealer is working by fuddy duddy "car dealership rules" (making profit and minimizing risk) whereas Carvana is actually a Tech Startup which means the rules are different: it is important for Carvana to lose money hand over fist on every car it sells, and sell a lot of them. That is what attracts investors to pile in more money.

https://www.cnbc.com/2024/02/02/carvana-leaner-and-ready-for-wall-street-redemption.html#:~:text=Carvana%27s%20debt%20grew%2C%20including%20the,speculate%20bankruptcy%20may%20be%20ahead.

Yes, I'm very familiar with the Carvana story, and I took advantage of what they offered me. I'm still just amazed that there was such a difference. My friend at the Caddy dealer said that they were seeing Carvana offering "stupid money" all across the board for used vehicles, but I would think they would have to be more competitive knowing that.

 

[NorCal Blackwing]

Yes, I'm very familiar with the Carvana story, and I took advantage of what they offered me. I'm still just amazed that there was such a difference. My friend at the Caddy dealer said that they were seeing Carvana offering "stupid money" all across the board for used vehicles, but I would think they would have to be more competitive knowing that.

In all seriousness, there's probably little to no profit in it for them because they'd have to properly inspect and recondition the car as well as hope someone buys it for that price. Carvana gets away with breaking even or losing money on their sales because they've convinced investors that they'll become the Amazon of used car sales so long as they shift enough volume.

 

[1Evil55]

Carmax was the best thing to happen to me a few years ago when I was able to get them to offer 32,000 on a 2016 SS with 105k on the clock. Used their quote as my bargaining tool when I traded it in for a Jeep. Nevermind the downgrade but the deal was smokin.

 

[bl4ck_wng]

Lots of great info on this thread--

My dealer cold called after some routine maintenance with an offer of $44k on my '22 4BW (A10) during the mid summer (MSRP was $71k in 9/2022). 3rd party offers and for sale ads on stripper spec 4BWs w/ ~20K miles were listed in the $55-60k range. Higher asking prices for CF 1&2 cars, but not by much since they got hit the hardest (as expected). Private party sale is the best way to part with your BW

 

[Super Saloon]

I’ve had the opposite experience with Carvana and dealers on trade in. I want to say my Focus RS I was offered ~$25K from Carvana and Vroom and ultimately traded it in to Mercedes dealer for ~$33K. When I traded in my AMG I was offered $48K from Carvana and got $51K from Cadillac. Maybe it’s different with a sale v trade in (I wasn’t trading in to Carvana), but the nice thing about the dealer with a trade is you can negotiate the trade in value. You can’t do that with Carvana.

 

[Jameson's Viggen]

I looked for any used manuals within 300 miles of me. One was actually an auto the other was $58k. I have mine listed at $53,500 which I think is aggressive but will be more than fair for both parties.

 

[Deneed4spd]

I looked for any used manuals within 300 miles of me. One was actually an auto the other was $58k. I have mine listed at $53,500 which I think is aggressive but will be more than fair for both parties.

U fall in love with your electric car so much you are moving on?

 

[Jameson's Viggen]

U fall in love with your electric car so much you are moving on?

Lol, eh, not quite.

The role of the BlackWing was mindless conmuter.

The EV has taken over that role and no car can do it better.

I also was able to acquire a bit of a restoration project car that meant a lot to me.

So I'm up to 5 cars, 6 with my wife's. I now would have to off-site store the BlackWing over winter.

I've also been wanting to buy land near my house to build a hobby property. The BlackWing sale is the only car that can fund that.

 

[savethemanual]

The role of the BlackWing was mindless conmuter.

 

[Jameson's Viggen]

Leave for work at 5:25am, boring, straight pothole filled roads. I'd get into 6th gear and just arrive at work. Kind of a waste of this cars talents. EV is perfect for mindless commuting

 

[dinkman]

I looked for any used manuals within 300 miles of me. One was actually an auto the other was $58k. I have mine listed at $53,500 which I think is aggressive but will be more than fair for both parties.

this thread as a whole is sad to follow. i traded my ct4 in today before the value got worse

 

[NorCal Blackwing]

It feels like a fairly typical depreciation curve is happening now and things are returning to normal. There's a steep drop-off happening, which will eventually slow to a mild decline, then 10 years from now, when the cars are long discontinued and your only new car choice is a Geely self-driving EV CUV, they'll be hailed by the automotive press as THE used bargain of the decade for enthusiasts and values will start to rise again.

Source: AutoExpress

 

[RobC7]

this thread as a whole is sad to follow. i traded my ct4 in today before the value got worse

We all know the values would have done much better if it came with a V8