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Originally Posted by 23109VC
As to pricing - it's weird...I think used car prices have slightly gone up in the past year. IIRC, CPO MDXs were more like in the 30k range 6-12 months ago..now I"m seeing them in the 35-40k range... I have seen this same trend among other cars too. perhaps as the economy has tanked and new car sales have dropped off the face of the earth, and more people are looking to CPO cars as an alternative to buying new, if the dealers are hiking prices on the CPO cars? supply and demand in action....
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You're not imagining things. Check out this Manheim Auction Used Vehicle Value Index:
http://www.manheimconsulting.com/Used_Vehicle_Value_Index/Current_Monthly_Index.html
Prices tanked around October '08 and are up quite a bit since then. SUV and full size pickup values took a huge hit when gas made it to an avg of $4/gal. Remember when people couldn't dump them fast enough and Prius sales were booming with ~10 days of inventory? And then when gas dropped back to $2/gal Toyota had 180 days of Prius inventory, despite sweetheart lease deals, and lots of people went back to SUVs because they were so cheap to buy and no longer so painful to fill up. Gotta love people's short term memory.
Every couple of months I run into the owner of an local indy BMW service/body shop who buys BMWs at Manheim in PA at cost plus $500 for his regular customers, and he's been telling me consistently that prices are up, up, up. He says in the last two years many more of his customers who would normal buy new are opting for slightly used w/low miles. His business is doing great.
Buyers of high end cars are obviously paying close attention to the stock market and the direction of the economy. That said, 986 prices still seem to be falling...