Wow used car prices are high. My friend and I where looking on auto trader and most cars are in the 18 - 23k range for 3 year old cars. From 07 IS350's to 07 Altima's prices are the same. There are even some over priced suv for example an 08 MDX at 32k or a 07 RL at 26K. Wow I guess the used market hot. No reason to buy used now when I see a maxima costing as much as a is350.

USA TODAY STORY

Guess I will be keeping my little mazda 3 a little while longer.

 

Last year, with most automakers providing excellent financing options (usually 0% APR), it was sometimes cheaper to buy new than used. Used car priced had to drop.

Now that financing is not as good, especially since the beginning of the year usually don't offer many incentives for new cars, used car prices have increased.

If you can wait, give it time. The market will swing again...

 

I'm in no rush my friend is in the market as well and there is no way I look for a car now. For example an 11 MDX is 46k and a used 08 Hovers around 32 to 38 lol Might as well buy new at 0%.

 

Exactly.

 

I see a lot of people buying late model CPO premium imports lately. Seems to be early signs of gradual economic recovery and used car prices reflect it.

 

That and the ridiculously high inventory's across the country for true luxury/perfomance cars.

In that mid-range price point you might view the prices as high, but as the prices increase it is incredible to see the depreciation. It is amazing what you can pick up some of the Porsche/MB/BMW, etc. right now.

Might have to come for a visit S when I get to car shopping this spring.

 

Silicon Valley is not representative of the US. Too much tech, too many degrees

 

Agreed, high tech capital of the world and highest average level of education, but then nobody said it was representative of the US.

 

C. - Good clarification on used car pricing, especially low/mid versus high-end premium cars. We are seeing the same trends you noted here in SV.