We're in the market for a (new to her) car for our youngest, who is 20. For each of our kids, we gave them an older used car to drive when they turned 16, then bought them a newer model (but still used) before they graduated college so they'd be settled with (hopefully) a job before they had to worry about making a car payment. When it got to be time to buy a newer used car for our youngest last summer, the used car prices were so high we told her she needed to do without a car for the semester (we didn't trust her current car to make it from Alabama to Ohio), and we'd get her something over Christmas break. Now we wish we had purchased last summer, since the used car prices are even higher now than they were then. And used car prices are so high now that we've just decided to buy her a new one. We're getting her a Mazda CX-5, and the 2018 Touring costs about the same on Carvana as MSRP on a new 2022 S Select (which is the comparable trim package).
My wife's car has 20K miles in nearly 4 1/2 years. We got a good deal when we bought it. We've been offered more in a trade than what we paid in our out the door price from August 2017.
But we'd have to buy another car, so it is no deal.
Six to 8 months
It's a 2020. 2 months after I bought it, it went from 55k (new) to 44k.
Now, the same dealer is offering me...48K for it. With 28,000 miles.
Leased it at the end of 2018 and buying it was an absolute no brainer. To purchase the same Jeep in today's market would have been 12-15K more than the lease buyout price.
It's worth $20K more on blue book than the lease buyout.
Their long form automotive story podcast “Past Gas” have some interesting topics if you’re a fan of their YouTube
and got more than I paid for it in 2019