Crazy car inflation! Boats Too!

[OKnewguy]

Here in Oklahoma I have noticed some bizarre trends lately. My wife and I have been thinking about selling some stuff (boat, and Tundra) and things are out of Whack! I have bought and sold a number of car and truck and boats over the years. I shop like crazy to get the best deal, but when I sell I always take a hit on depreciation for mileage and of course age. This time it is different. My 08 Tundra according to KBB is worth more then what I bought it for in late 09. My old boat is worth more then what I bought it for in 07. I do not want this to get political but I have never seen anything like this in my 40 years on this planet.
Is this happening all over the country? What are your thoughts.
Thanks, Dave

 

[Alan L.]

You know what they say about liars and figures.

 

[MossRoad]

Here in Oklahoma I have noticed some bizarre trends lately. My wife and I have been thinking about selling some stuff (boat, and Tundra) and things are out of Whack! I have bought and sold a number of car and truck and boats over the years. I shop like crazy to get the best deal, but when I sell I always take a hit on depreciation for mileage and of course age. This time it is different. My 08 Tundra according to KBB is worth more then what I bought it for in late 09. My old boat is worth more then what I bought it for in 07. I do not want this to get political but I have never seen anything like this in my 40 years on this planet.
Is this happening all over the country? What are your thoughts.
Thanks, Dave

Now compare the price of your 08 to a 2013. Even an over-priced used car is cheaper than a new one. Maybe not by much, but people are desparate to save even a small amount of money. Add to that the fact the new cars last a lot longer now than they did 20 years ago... they can run **** near forever with good maintenance.

 

[Grumpy Old Man]

The used car/truck and boat market is crazy in part to the number of people who have had serious financial problems in the past few years ,yes they do last longer when maintained properly but the cost of new or credit needed has pushed many people into the secondary credit market and the used items bring a better rate for the finance companies / used car/truck/boat dealers. Learn to live within your means and stop trying to beat the Jone's

 

[OKnewguy]

Oh, we live within our means. We are set to have our house paid off in under 2 years and that is the only debt we have. About 3 years ago we got our daughter a "beater" car for her 16th b-day, at the time I thought this was really just aftermath of cash for clunkers, but I see now it goes all the way to the high end new cars.
Dave

 

[OKnewguy]

You know what they say about liars and figures.

????maybe it is to early but I do not follow????

 

[orezok]

????maybe it is to early but I do not follow????

Figures do not lie, but liars figure!

 

[Midniteoyl]

I think the figures on KBB are wrong.. Or, they have already included a bunch of stuff that you included again. Quite common to do..

 

[Grumpy Old Man]

I think the figures on KBB are wrong.. Or, they have already included a bunch of stuff that you included again. Quite common to do..

When Kelley blue book starts buying cars you can use their quotes ,Until then do the homework in your area on the going rate for a particular car/truck they are only a reference guide not the rule !

 

[OKnewguy]

I gotcha. I have ALWAYS used KBB as just a starting point. Back in the day I would base figures off the car trader, but for the last 5 years or so that has been just about worthless. I use good ole craigslist to figure out what the they are worth. I setup my phone with a notification app that lets me know when a item pops up and that way you can get a feel for what they are running for in your area. It works pretty well to see the trends in an area.
Dave