Sticker Shock! Used cars are more expensive than some new models

Sticker Shock! Used cars are more expensive than some new models

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Language: English

Type: Robot

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00:01
time now for your morning rbi and today let's get random but interesting about cars specifically the car market because it remains and i think this is in technical terms bunkers specifically the market for used cars and if you have looked around you've probably had sticker shock and it's not your imagination check out this recent data point from goldman sachs quote used car auction prices increased 0.6 percent to 56 above the pre-pandemic level in the first half of january let that sink in
00:32
the price for a used car on average is now more than 50 percent more than two years ago the same car here's the used car pricing index referring to the mannheim used vehicle index if you're wondering mannheim is a giant car auction in lancaster pennsylvania have actually been there anyway you can see for years used car prices didn't do much and then and by the way if you wanted a car you could probably find one that fit your budget not anymore but as crazy as that chart is here's what's really random but interesting there are a
01:03
number of used cars that are now more expensive than the same car brand new carinsurance.org found a number of cars where the 2020 model is more than the 2021 model right now the top three the kia rio whatever that is a corvette stingray number one the toyota rav4 hybrid in fact that toyota rav4 little suv cost ten thousand dollars more
01:35
after one year than it did new so the rav4 got a better return on its money over a year than bitcoin or much of the stock market and it can actually you know like take you places but kidding aside this is the most upside down insane thing the car market has ever seen so if you're buying a car be careful out there folks maybe just run the wheels off of what you got random but interesting

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