People with cars a couple years old were being asked to trade for a new one just to bolster used inventory. Don’t understand the economics but I know two people who traded their 3ish year old cars for brand new ones (and a little cash on top) at the behest of the dealer during that time.
I bought right after the lockdown. Six months later I was being offered more for my car used than I paid for it new. I’m still driving it, and it’s been paid off for quite awhile, three year loan.
I don’t know the economics either but I bought a used truck in Dec 20 and after 6months or a year the dealer started calling me every month or so with an offer to buy it back at more than I bought it for. It was really crazy.
My parents bought a their car when their lease was up then sold it back for a profit around the same time. Just to add to the anecdotes.
People with cars a couple years old were being asked to trade for a new one just to bolster used inventory. Don’t understand the economics but I know two people who traded their 3ish year old cars for brand new ones (and a little cash on top) at the behest of the dealer during that time.
I bought right after the lockdown. Six months later I was being offered more for my car used than I paid for it new. I’m still driving it, and it’s been paid off for quite awhile, three year loan.
I don’t know the economics either but I bought a used truck in Dec 20 and after 6months or a year the dealer started calling me every month or so with an offer to buy it back at more than I bought it for. It was really crazy.
My parents bought a their car when their lease was up then sold it back for a profit around the same time. Just to add to the anecdotes.