Times are Changing with Used Car Prices

Beninbeta said:
Interesting way to do this, if feeling a little setup This would have been cool to see what like three different places would give them for the vehicles or without Carmax knowing what was going on. But the market sure is changing!
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I can imagine how hard it was for Carmax to value the Taco. Their world is equations and algorithms. None of which exists for a vehicle that has barely hit the street. The Colorado should be sitting better considering there is still a shortage and no 2024s shipping yet. Which on the private side would drive up the price. But I'm sure Carmax's algorithm dinged it that hard for the lack of CC. They know from history that it's a tough sell on the lot.
 
The market price of used vehicles definitely seems to be reverting to the mean after being out of whack for years. I guess that is good for the potential buyer but for those who paid market adjustments and need to sell, not so much…
 
About a year ago I sold a 2020 Ram Longhorn. Sent out to get offers from the usual suspects like Driveway, Truedge, et al. Offers were anywhere from $40K to $45K. Since I didn't go with any of them, they still constantly send me updated offers. They offer $36K-$40K now.
 
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