Why are the used cars are overpriced?

The prices of everything is inflated right now. Groceries, gasoline, you name it and it's inflated. Including vehicles, both new and used. In my opinion there's no vehicle worth $100,000 but they're out there and they're not selling. But hopefully the prices and interest rates will come down again. Back in the 60s my Grandparents bought a brand new Chevrolet that cost $3,500 and they had a fit! Thirty years earlier they'd paid that much for their house and had ten years to pay for it. So it's all relevant. One advantage we have today is a vehicle can be bought from a different part of the country where the economy as a whole is cheaper. But if you decide to do that have the vehicle inspected by a professional inspection company before you decide to buy it. You never ever want to buy a vehicle, especially a used one, sight unseen! Jim

If you ever want to know why used prices are high, know that everything is always priced at what the market will bare, which boils down to… if someone over pays for something, other sellers refer to that sale to base their pricing of similar items at. In the 1990’s and prior, used pricing used to be more or less regional due to being listed in local newspapers and other selling rags, but since the inception of the InterGoogle, the entire country can see the highest used prices nationally. While local pricing still affects used prices locally, overall used prices nation-wide have risen significantly in this country. Major items ( cars and homes) are still higher than ever before. In the earlier days of Ebay, auction style sales went crazy and carried over to regular used prices and inflated them as well. Wow, that has calmed down a lot, Ebay can still be thought of as a sort of blue book for smaller items if you look under completed auctions and see what prices items actually sold for. Completed auctions actually show the real prices people were/are willing to pay for these items. There are many other Market indicators that are used by many sellers, from other used selling sites to big flea markets and country fairs. Concerning cars, it’s just what the market will bear. Prices slowly go up or slowly come down. If something big in the news happens, they can come down or go up fast. The best way to know when to buy is to pay attention to all the indicators you can think of. Look for deals OR be willing to pay the price!