Used Car Values

[FormerHangie]

I have an older car that I'm getting ready to replace, I've been trying to figure out what it's worth, and what I'm seeing is some pretty silly values. The car sold new for about $15,000 in 2002, and I've gotten a number of different valuations. KBB.com suggests a private party sale value of around $2400, which strikes me as a bit high, while Edmunds suggests more like $1800, which seems more realistic. Sellers on Craigslist seem fairly realistic, asking $2200 - 2700 for automatic transmission versions of the same car.

But, when I go to AutoTrader, the prices dealers are asking are simply nuts, some are $4000 - $6000. You can get a new version of the same car for $18,000, why would anyone pay that much for a 12 year old car? There's one dealer that's asking $4000 for a wagon bodied version that has 257,000 miles! And that's from a new car dealer, not a "tote the note" lot. The pricing on some of these just makes no sense to me.

 

[Sac Arrow]

I have an older car that I'm getting ready to replace, I've been trying to figure out what it's worth, and what I'm seeing is some pretty silly values. The car sold new for about $15,000 in 2002, and I've gotten a number of different valuations. KBB.com suggests a private party sale value of around $2400, which strikes me as a bit high, while Edmunds suggests more like $1800, which seems more realistic. Sellers on Craigslist seem fairly realistic, asking $2200 - 2700 for automatic transmission versions of the same car.

But, when I go to AutoTrader, the prices dealers are asking are simply nuts, some are $4000 - $6000. You can get a new version of the same car for $18,000, why would anyone pay that much for a 12 year old car? There's one dealer that's asking $4000 for a wagon bodied version that has 257,000 miles! And that's from a new car dealer, not a "tote the note" lot. The pricing on some of these just makes no sense to me.

Look at the Craigslist listings for your make in model in your area to get an idea what you can get for it.

 

[RJM62]

Look at the Craigslist listings for your make in model in your area to get an idea what you can get for it.

I agree. Ultimately, it's worth what someone will pay for it, and CL's as good a way as any to get a feel for that.

-Rich

 

[Jeff Oslick]

Dealers ask stupid money for used cars. Agree with using CL as a guide in combination with info from Edmunds and KBB. I found KBB consistently ran higher than Edmunds. We sold a 2002 Jeep Liberty a couple years ago, and after getting a few bids from the local lots, quickly sold it via Craig's List for a couple hundred more than their best offer.

 

[Jimmy cooper]

Car dealers make their money on the shop and on used cars. ( really juicy!)Used cars usually have no price on them on the lot. The sales person has the prices in his pocket, or has to ask the sales manager. Used cars are priced in a book called the black book. It's unavailable to the public. Several will dispute what I've written but it's the way in works in most cases. The shop and the used cars are a home run for the dealer.

 

[JoseCuervo]

There is some "bottom value" on used cars of that age that the Auto Recyclers and the Scrap Metal Guys will set, so, at some point, there isn't much for sale, that runs, for less than the $1500-2000 range.

Do a Craigslist search with $2000 as your maximum, and see if there is a SINGLE car that you would even consider buying and driving (or have a loved one drive late at night, along an empty road....)

There just seems to be a $2000 floor on anything that might be reliable for the next 12 months/10,000 miles. If your car is better than that, you likely see the $2500-$4000 ranges

 

[FormerHangie]

Car dealers make their money on the shop and on used cars. ( really juicy!)Used cars usually have no price on them on the lot. The sales person has the prices in his pocket, or has to ask the sales manager. Used cars are priced in a book called the black book. It's unavailable to the public. Several will dispute what I've written but it's the way in works in most cases. The shop and the used cars are a home run for the dealer.

Actually you can get Black Book prices from CUDL Auto Smart: http://www.cudlautosmart.com/Research/TradeInValues.aspx

It's not widely advertised, that's for sure.

 

[DaleB]

I have noted that, while Edmunds and KBB used to report about the same value for most all cars, that is no longer the case at all. The two are often WAY different now, usually with Edmunds being lower and more realistic.

I recently dealt with selling my mom's car - as you would expect from an 80-odd year old woman, it was a Toyota Avalon. KBB's price was significantly higher than any sane person would have paid for it, Edmunds was pretty close to what I eventually sold it for.

 

[FormerHangie]

There is some "bottom value" on used cars of that age that the Auto Recyclers and the Scrap Metal Guys will set, so, at some point, there isn't much for sale, that runs, for less than the $1500-2000 range.

Do a Craigslist search with $2000 as your maximum, and see if there is a SINGLE car that you would even consider buying and driving (or have a loved one drive late at night, along an empty road....)

There just seems to be a $2000 floor on anything that might be reliable for the next 12 months/10,000 miles. If your car is better than that, you likely see the $2500-$4000 ranges

Yeah, I've noticed that. You can find a car that appears to be running well for $1500, but they typically are 20 years old or 200,000 + miles. $2000 seems to be the floor for anything that is running well and doesn't need a lot of work..

 

[Jimmy cooper]

One of the dealers favorite retorts, if you mention craigslist or edmunds, etc. is " well then buy the car from them. " ( there are black books and then there are black books.) it's like trying to make sense of scrap prices unless your a member of isri.

 

[Jeff Oslick]

C'mon, $850 will get you this:
http://orangecounty.craigslist.org/cto/4342446310.html

I bet they'd take $750 without a blink.

Engine "sounds smooth". "Clean engine".... yup, just power washed it so you wouldn't see the oil and coolant pouring out!

Everything works.....

...oh, yeah, except the transmission...

 

[Henning]

I have an older car that I'm getting ready to replace, I've been trying to figure out what it's worth, and what I'm seeing is some pretty silly values. The car sold new for about $15,000 in 2002, and I've gotten a number of different valuations. KBB.com suggests a private party sale value of around $2400, which strikes me as a bit high, while Edmunds suggests more like $1800, which seems more realistic. Sellers on Craigslist seem fairly realistic, asking $2200 - 2700 for automatic transmission versions of the same car.

But, when I go to AutoTrader, the prices dealers are asking are simply nuts, some are $4000 - $6000. You can get a new version of the same car for $18,000, why would anyone pay that much for a 12 year old car? There's one dealer that's asking $4000 for a wagon bodied version that has 257,000 miles! And that's from a new car dealer, not a "tote the note" lot. The pricing on some of these just makes no sense to me.

Dealers have overhead, and often pay more for cars than you can buy them off Craigslist because they don't do that. They buy used cars from auctions and wholesalers that will scour Craigslist and mark them up, detail them, and bring them by dealerships to sell to them for their lot, and they will mark them up. Many times the Used Car department at a new car dealership makes more in margin than the New Car side.

 

[FormerHangie]

I have noted that, while Edmunds and KBB used to report about the same value for most all cars, that is no longer the case at all. The two are often WAY different now, usually with Edmunds being lower and more realistic.

I recently dealt with selling my mom's car - as you would expect from an 80-odd year old woman, it was a Toyota Avalon. KBB's price was significantly higher than any sane person would have paid for it, Edmunds was pretty close to what I eventually sold it for.

That was my experience as well. When we bought my wife's car, her trade in was valued very close to what Edmunds said. KBB was putting the trade in value close to what dealers were asking for the same used car.

All I was trying to do was to get them to sell me the new car at what I could have bought it for if I'd had no trade, and for them to give me a fair wholesale value for the trade. They started out at near full retail plus their fees, and had lowballed the hell out of the trade. After enough wrangling, they pulled out a sheet of auction sales on the trade, which was very close to what Edmunds had suggested, and that's what we settled on.

They did some grumbling on how they weren't making any money on the new car (yeah, right, then why did you sell it?) and that they wouldn't be able to retail the trade (a 2006 Odyssey with less than 100,000 miles, which is a very popular used car around here). The sales guy told me to check their website, that they'd wholesale it after 30 days. It didn't stay on their lot for two weeks before it was gone.

 

[RJM62]

There is some "bottom value" on used cars of that age that the Auto Recyclers and the Scrap Metal Guys will set, so, at some point, there isn't much for sale, that runs, for less than the $1500-2000 range.

Do a Craigslist search with $2000 as your maximum, and see if there is a SINGLE car that you would even consider buying and driving (or have a loved one drive late at night, along an empty road....)

There just seems to be a $2000 floor on anything that might be reliable for the next 12 months/10,000 miles. If your car is better than that, you likely see the $2500-$4000 ranges

It depends. I've gotten some excellent deals for < $2k. Some people just get tired of cars, and others ditch them because of an MIL that might be quite an easy fix. If you're mechanically inclined and know how to interpret OBD2 codes, there are some good deals out there. But you have to look hard. It may take months to find a good deal.

-Rich

 

[olasek]

One of the dealers favorite retorts, if you mention craigslist or edmunds, etc. is " well then buy the car from them.

I actually purchased two cars from used car dealers for less than a typical such cars on craigslist from private individuals would advertise for. They were simply priced very well. Craigslist is no guarantee for getting the best deal but there are good deals there as well. For a buyer it simply means do your homework and explore all sources.

 

[Henning]

I haven't paid more than $900 for a vehicle with a few rare exceptions. Even my current Mazda B3000 extended cab truck was $900, I've been driving it for a year and a half and only put a couple tires and a brake hose on it outside of fuel. Hasn't even needed oil.

 

[AggieMike88]

There is some "bottom value" on used cars of that age that the Auto Recyclers and the Scrap Metal Guys will set, so, at some point, there isn't much for sale, that runs, for less than the $1500-2000 range.

You Rang?

The values I set are based not on the car as a whole, but the parts "that come in the box". If I need the parts for my inventory, and they are providing a high price, then I will bid very well for the car (for example, I recently bid $3400 for a 2013 Scion FR-S hit in front and rear. Sale of engine brings back my investment, and my system predicts at least $4500 of sales beyond that).

Middle of the road average within the last 60 days has been about $1300 per car, including ones purchased at auction.

My bidding is done on just a few part types: Engine, Transmission, doors, hood, bumpers, fenders, and lamps. These part types represent about 70% of my revenue. Rest is the "came in the box" items and scrap.

But if I don't need any of the parts, then the bid based on what I will get for the car when I scrap it out, recovering aluminum, scrap steel, cat converter, and more. This offer averages about $200 and I usually realize about $350-400 gross when I flatten it.

It's a fascinating business.... and anyone in the area is welcome to visit and I'll show you how we go about taking wrecked cars/trucks and turn them into cash.

 

[N747JB]

Tell me what it is and I will give you a pretty good idea on what it's worth.
Right now cheap cars are bringing more than they will bring until next March, so it's the right time to sell it. Tax refund time is when people start looking for what we call "cash cars" older well maintained vehicles that may have too many miles to get financed or people who can't get financed. If you don't want to fool with selling it on Craigslist, take it to a couple used car dealers, you may be surprised at what they will pay, especially buy here-pay here lots. Inventory is very hard to find this time of year, wait until April or May and the value will drop 20-30% until next year.
I talked to a used car dealer today, he told me auction prices on $3000 cars have jumped to over $4000 in the last 2 weeks.

I have an older car that I'm getting ready to replace, I've been trying to figure out what it's worth, and what I'm seeing is some pretty silly values. The car sold new for about $15,000 in 2002, and I've gotten a number of different valuations. KBB.com suggests a private party sale value of around $2400, which strikes me as a bit high, while Edmunds suggests more like $1800, which seems more realistic. Sellers on Craigslist seem fairly realistic, asking $2200 - 2700 for automatic transmission versions of the same car.

But, when I go to AutoTrader, the prices dealers are asking are simply nuts, some are $4000 - $6000. You can get a new version of the same car for $18,000, why would anyone pay that much for a 12 year old car? There's one dealer that's asking $4000 for a wagon bodied version that has 257,000 miles! And that's from a new car dealer, not a "tote the note" lot. The pricing on some of these just makes no sense to me.

 

[FormerHangie]

Tell me what it is and I will give you a pretty good idea on what it's worth.
Right now cheap cars are bringing more than they will bring until next March, so it's the right time to sell it. Tax refund time is when people start looking for what we call "cash cars" older well maintained vehicles that may have too many miles to get financed or people who can't get financed. If you don't want to fool with selling it on Craigslist, take it to a couple used car dealers, you may be surprised at what they will pay, especially buy here-pay here lots. Inventory is very hard to find this time of year, wait until April or May and the value will drop 20-30% until next year.
I talked to a used car dealer today, he told me auction prices on $3000 cars have jumped to over $4000 in the last 2 weeks.

2002 Ford Focus, 2 door hatch, Power Premium group (power door locks, power mirrors, cruise) side airbags, factory sunroof, 5 speed, 127,000 miles. I'm the original owner. The car has a couple of stone chips on the hood and minor parking lot dings. Everything works, all maintenance up to date. Rear brakes squeak when cold, other than that I can't think of anything that it needs. It is 12 years old and some of the plastic is getting brittle and a few odd interior things have broken, like the console latch and the tab on the sunroof shade that slides it back when the sunroof opens.

 

[dell30rb]

2002 Ford Focus, 2 door hatch, Power Premium group (power door locks, power mirrors, cruise) side airbags, factory sunroof, 5 speed, 127,000 miles. I'm the original owner. The car has a couple of stone chips on the hood and minor parking lot dings. Everything works, all maintenance up to date. Rear brakes squeak when cold, other than that I can't think of anything that it needs. It is 12 years old and some of the plastic is getting brittle and a few odd interior things have broken, like the console latch and the tab on the sunroof shade that slides it back when the sunroof opens.

About 3 years ago I helped a foreign exchange student find a car. Got a focus just like yours for $2100.

The alternator went bad shortly after he bought it. I was going to help him fix it, but the alternator on that car is in an absurd location. Otherwise it was a good car.

 

[JoseCuervo]

You Rang?

The values I set are based not on the car as a whole, but the parts "that come in the box". If I need the parts for my inventory, and they are providing a high price, then I will bid very well for the car (for example, I recently bid $3400 for a 2013 Scion FR-S hit in front and rear. Sale of engine brings back my investment, and my system predicts at least $4500 of sales beyond that).

Middle of the road average within the last 60 days has been about $1300 per car, including ones purchased at auction.

My bidding is done on just a few part types: Engine, Transmission, doors, hood, bumpers, fenders, and lamps. These part types represent about 70% of my revenue. Rest is the "came in the box" items and scrap.

But if I don't need any of the parts, then the bid based on what I will get for the car when I scrap it out, recovering aluminum, scrap steel, cat converter, and more. This offer averages about $200 and I usually realize about $350-400 gross when I flatten it.

It's a fascinating business.... and anyone in the area is welcome to visit and I'll show you how we go about taking wrecked cars/trucks and turn them into cash.

I waste a bit too much of my time at CoPart and then watching the auction on Thursday's. I am surprised at the prices on some models, and really surprised at the internationl buyers who are bidding up certain models.

We have bought a half-dozen PU's over the last 1.5 years, and then put them back together for company rigs to run into the ground. And, you have to watch to find good buys, as many cars that are totaled still seem to be bringing good money as "rebuilders".

The ones I can't come close to touching are the Duramax PUs. Not sure what you sell those motors for, but complete wrecks are pushing $8-10k just for the badge on the side that says "Duramax".

You could definitely buy a "run and drive" for under a $1000, but it ain't gonna be a car you would want to actually drive. (Think mid-90's GM products with 200k miles.)

At what age do you quit inventorying cars? older than 10 years?? 15 years? Seems like your business would be 80% of the volume is "less than xx years of age".

 

[FormerHangie]

About 3 years ago I helped a foreign exchange student find a car. Got a focus just like yours for $2100.

The alternator went bad shortly after he bought it. I was going to help him fix it, but the alternator on that car is in an absurd location. Otherwise it was a good car.

I replaced mine. It was a booger. Also, Ford alternators have these sliding pads in the mounting ears that need to be compressed back before you install the new alternator. If you don't, it's impossible to get it back in place. It also means once you remove the mounting bolts, the alternator is not loose, and you have to pry it off the mounts. The rebuilt alternator I got had a big dent on it from where the mechanic who removed it smacked it to get it loose.

 

[dell30rb]

It is 12 years old and some of the plastic is getting brittle

Since we are on the topic, I have a 2004 acura with the typical faded and crazed headlights. And a lot of the exterior plastic is faded as well. Once wiped with armor-all, the plastic will come back to life, but after about a month it looks very faded again.

Anyone know of a product or refinishing procedure (sanding?) that really works? I see this 'wipe-nu' stuff on TV. But I am wary of 'as seen on tv' products.

 

[FastEddieB]

Dealers ask stupid money for used cars.

Maybe as a general rule that's true, but...

...we were recently shopping for a tow vehicle for an upcoming travel trailer purchase. Had settled on a Ford Flex, probably used.

Came across this one for $27k plus change at a Chevy dealer not to far away:

It was a "Limited", had the EcoBoost engine, a factory tow package and the 7-place seating and not much else - pretty much exactly how we would have spec'd out a new one.

We negotiated down to $26k and that seemed below most of the private party prices we had been seeing. The Carfax report showed an accident history involving minor right front damage, but an independent body shop confirmed the repair had been well done. In any case, that was part of the reason the price was lower than dealer retail.

I think it all depends on what the dealer has in it, how long its been on the market, and how eager they are to move it.

We're very happy with the car and the price.

BTW, that's our Galapagos Green Honda Element behind the Flex. We must have a "thing" for boxy!

 

[FormerHangie]

One of the things I have with private party values is that I don't think anyone knows what they really are. I see some high asking prices on Craigslist, but what the actual selling price is, we'll never know.

I suppose you could look at Ebay motors, but what percent of the market is that?

 

[AggieMike88]

I waste a bit too much of my time at CoPart and then watching the auction on Thursday's. I am surprised at the prices on some models, and really surprised at the internationl buyers who are bidding up certain models.

We have bought a half-dozen PU's over the last 1.5 years, and then put them back together for company rigs to run into the ground. And, you have to watch to find good buys, as many cars that are totaled still seem to be bringing good money as "rebuilders".

The ones I can't come close to touching are the Duramax PUs. Not sure what you sell those motors for, but complete wrecks are pushing $8-10k just for the badge on the side that says "Duramax".

You could definitely buy a "run and drive" for under a $1000, but it ain't gonna be a car you would want to actually drive. (Think mid-90's GM products with 200k miles.)

At what age do you quit inventorying cars? older than 10 years?? 15 years? Seems like your business would be 80% of the volume is "less than xx years of age".

It is fun to watch what brings insane money... I've even seen an auctioneer get $800 for a newer model truck that was 100% burned. That one I think someone was buying paper for something else


You asked about inventorying... I inventory EVERY car purchased into the system, no matter what the model year. It's the only way for me to find the part later and make the sale. Plus with so much inventory data flowing out to third party systems, if I don't put it into the database, these other folks won't find it and I won't get the call.

If it is of interest, my average model year is 2003.78. And the 8-11 year band of average year is something of the sweet spot since drive train will almost always be purchased, and there is still plenty of ACV remaining to repair collisions.

For those who understand the concept, my historical COGS over the last 365 days is running 0.44

 

[AggieMike88]

Since we are on the topic, I have a 2004 acura with the typical faded and crazed headlights. And a lot of the exterior plastic is faded as well. Once wiped with armor-all, the plastic will come back to life, but after about a month it looks very faded again.

Anyone know of a product or refinishing procedure (sanding?) that really works? I see this 'wipe-nu' stuff on TV. But I am wary of 'as seen on tv' products.

Go visit a really good body shop supply house and get with a knowledgeable rep. 3M makes different products that can help.

 

[N747JB]

The 5 speed hurts it as far as limiting the market, but people that like the manuals, really like them. Unfortunately 50-75% of the kids under 25 can't drive a stick shift! Of course a lot of their parents can't either!
If it's a clean little car, everything works, tires are good etc, I wouldn't be afraid to ask $3500.00 for it on Craigslist. You can always drop it a bit if it doesn't sell. Run it by a couple dealers if you have a chance and just see what they'll pay for it, won't cost anything to find out the low end price.
I would estimate wholesale to be in the $1800-2300.00 range if it looks and drives right.

2002 Ford Focus, 2 door hatch, Power Premium group (power door locks, power mirrors, cruise) side airbags, factory sunroof, 5 speed, 127,000 miles. I'm the original owner. The car has a couple of stone chips on the hood and minor parking lot dings. Everything works, all maintenance up to date. Rear brakes squeak when cold, other than that I can't think of anything that it needs. It is 12 years old and some of the plastic is getting brittle and a few odd interior things have broken, like the console latch and the tab on the sunroof shade that slides it back when the sunroof opens.

 

[Henning]

Since we are on the topic, I have a 2004 acura with the typical faded and crazed headlights. And a lot of the exterior plastic is faded as well. Once wiped with armor-all, the plastic will come back to life, but after about a month it looks very faded again.

Anyone know of a product or refinishing procedure (sanding?) that really works? I see this 'wipe-nu' stuff on TV. But I am wary of 'as seen on tv' products.

Meguire products typically work as advertised, I have come across a few dressings at the auto parts store that work. Here's the thing, it's a monthly care item. Wax is a three month care item. It takes continued effort to maintain machines free from oxidation. If I was looking for the longest term/cheapest solution I'd be looking at Mop & Glo, you may have to do one of the others first then top dress it.

 

[FormerHangie]

The 5 speed hurts it as far as limiting the market, but people that like the manuals, really like them. Unfortunately 50-75% of the kids under 25 can't drive a stick shift! Of course a lot of their parents can't either!
If it's a clean little car, everything works, tires are good etc, I wouldn't be afraid to ask $3500.00 for it on Craigslist. You can always drop it a bit if it doesn't sell. Run it by a couple dealers if you have a chance and just see what they'll pay for it, won't cost anything to find out the low end price.
I would estimate wholesale to be in the $1800-2300.00 range if it looks and drives right.

That's certainly more than I would have expected. I think I'll do the rear brakes, polish it up good and put it on Craigslist next Friday.

 

[N747JB]

That's certainly more than I would have expected. I think I'll do the rear brakes, polish it up good and put it on Craigslist next Friday.

Good idea, it is prime time for anything under $5K!

 

[SCCutler]

If you wanted to ensure that used cars would be in shorter supply, and cost more, one thing you could do would be to create an artificially-stimulated market for new cars, with government money being used to subsidize the purchase of a new car (albeit at unusually-higher prices than in a normal market, because of the subsidy's existence), and a requirement that a mechanically-sound used car be traded, with the used car's engine then purposely-destroyed by pouring in sodium silicate and seizing the engine.

That way, the pipeline of used cars, and (of course) good, reusable engines for the existing used car fleet, would be substantially disrupted for several years, used cars would cost a lot more and (ironically) many older, less roadworthy vehicles would remain on the road for a lot longer because their owners could no longer afford to upgrade to a less-old used car.

But who'd even suggest such a lame scheme?

 

[N747JB]

Preposterous!!!!!!!!! No one on in their right mind would ever suggest such an idea!!!!
Actually, most of the cars we took in during C for C were junk to start with, mostly $500-1500 cars that had issues. If they were worth more than the $3500 or $4500 "tax credit rebate" we just traded them in like a normal deal and resold them as opposed to scrapping them, we just didn't claim the money.

If you wanted to ensure that used cars would be in shorter supply, and cost more, one thing you could do would be to create an artificially-stimulated market for new cars, with government money being used to subsidize the purchase of a new car (albeit at unusually-higher prices than in a normal market, because of the subsidy's existence), and a requirement that a mechanically-sound used car be traded, with the used car's engine then purposely-destroyed by pouring in sodium silicate and seizing the engine.

That way, the pipeline of used cars, and (of course) good, reusable engines for the existing used car fleet, would be substantially disrupted for several years, used cars would cost a lot more and (ironically) many older, less roadworthy vehicles would remain on the road for a lot longer because their owners could no longer afford to upgrade to a less-old used car.

But who'd even suggest such a lame scheme?

 

[us AAirways]

If you wanted to ensure that used cars would be in shorter supply, and cost more, one thing you could do would be to create an artificially-stimulated market for new cars, with government money being used to subsidize the purchase of a new car (albeit at unusually-higher prices than in a normal market, because of the subsidy's existence), and a requirement that a mechanically-sound used car be traded, with the used car's engine then purposely-destroyed by pouring in sodium silicate and seizing the engine.

That way, the pipeline of used cars, and (of course) good, reusable engines for the existing used car fleet, would be substantially disrupted for several years, used cars would cost a lot more and (ironically) many older, less roadworthy vehicles would remain on the road for a lot longer because their owners could no longer afford to upgrade to a less-old used car.

But who'd even suggest such a lame scheme?

They could also require everyone to purchase health insurance. Even if they already have a policy, they would be required to switch to an new and improved policy that 'saves them money'. Fine the employers if they don't provide it. May result in a few lost jobs here or there, but hey...at least you have health insurance...as long as you make the payments.

 

[AggieMike88]

y, most of the cars we took in during C for C were junk to start with, mostly $500-1500 cars that had issues. If they were worth more than the $3500 or $4500 "tax credit rebate" we just traded them in like a normal deal and resold them as opposed to scrapping them, we just didn't claim the money.

I got LOTS of cars through C4C, mostly because too many dealers were greedy for the gubbamint cheese. And there were a large bunch that should have been processed regular trade ins as John did above.

--------------------------------------------

I can tell you guys that the repair industry of used vehicles is very much alive and well. We are on a record part sales streak this month doing about 2 engines and 1.5 transmissions per day average. And many collision repair parts too.

 

[dell30rb]

Cash 4 Clunkers was a shame.

Each car traded in under the program got lethal injection. Oil was drained, what amounts to sand was poured in the crankcase, and the engine was run until it was completely trashed.

I needed a set of heads for my old jeep. Every 3rd car i passed in the u-pull-it boneyard had "C4C" written on the windshield. Lots of decent cars with trashed motors.

Many good cars died in the name of global warming. I understand the incentive did have the intended temporary positive effect on new car sales, at a time when it was really needed. But I don't understand how we had to kill all of those good cars. Why not give em out as foreign aid? I'm sure a couple boat loads of free working vehicles would have made a nice gift for many foreign countries. Kill two birds w/one stone.

 

[FormerHangie]

The WHOLE POINT of cash for clunkers was as an economic stimulus. It was put in place because aggregate demand was plummeting. In any normal economy,it would be a bad idea, but when the economy is in free fall, it's actually a pretty effective stimulus because most of the money in the total equation came from the buyers, not the gov't.

As John pointed out, most of the cars that were traded in weren't good ones. You can find the statistics on what was traded in somewhere out on the web, and if you look, you'll see that the vast majority of those cars involved were in the 10 to 15 year old range and were nearing the end of their useful lives.

If you were looking for an old beater back in late 2009 and 2009, then C for C probably reduced your selection. As it is now, those cars that were pulled off the road then would almost certainly be off the road now. It's also fairly likely that some of the cars bought under C for C are starting to show up in the used car market now.

I suspect the real reason that used car values are stronger than they have been for a while comes down to two things: some pent up demand as people postponed buying new cars during the Great Recession, and diminished supply because of the slow pace of new auto sales from late 2008 - 2012.

I don't know why some of us find it necessary to drag our politics into discussions that have noting to do with politics.

 

[RJM62]

Since we are on the topic, I have a 2004 acura with the typical faded and crazed headlights. And a lot of the exterior plastic is faded as well. Once wiped with armor-all, the plastic will come back to life, but after about a month it looks very faded again.

Anyone know of a product or refinishing procedure (sanding?) that really works? I see this 'wipe-nu' stuff on TV. But I am wary of 'as seen on tv' products.

Turtle Wax headlight cleaner. I have before and after pics somewhere...

Let me look...

Ah. Here they are.

-Rich

 

[SCCutler]

It is not political commentary, it is common sense. They could have easily said, "no re-registration of traded vehicles," thus allowing for engines to be recycled. Foolish waste of resources- an extreme environmental miscue.

 

[Henning]

It is not political commentary, it is common sense. They could have easily said, "no re-registration of traded vehicles," thus allowing for engines to be recycled. Foolish waste of resources- an extreme environmental miscue.

Not particularly, they are still recycled, just for core metal value, or an engine you need to properly rebuild, rather than stick into another clunker to blast smog from.