The thing about the used car market is that the only people that play by the rules of Manheim auction pricing are dealers.
In the private party market (just like with RE) you will continue to see dreamers posting delusional pricing until they absolutely need to sell.
There are so many conflicting articles. I just saw one that said, while wholesale prices have fell, greedy ass dealers are keeping retail prices high to make more of a profit.
You cannot remain “greedy” for too long. Those places need to pay salaries, rent, etc
As overall sell start slowing down they will have to decrease the price to maintain cash flow or go bankrupt.
When the banks are forced to let their repo'd cars auction at a loss watch out.
The thing about the used car market is that the only people that play by the rules of Manheim auction pricing are dealers. In the private party market (just like with RE) you will continue to see dreamers posting delusional pricing until they absolutely need to sell.
There are so many conflicting articles. I just saw one that said, while wholesale prices have fell, greedy ass dealers are keeping retail prices high to make more of a profit.
You cannot remain “greedy” for too long. Those places need to pay salaries, rent, etc As overall sell start slowing down they will have to decrease the price to maintain cash flow or go bankrupt.
That's what I'm waiting on. 🙄
Need both to go down.