why are used cars so overpriced?
im looking for a older car 80s-early 90s an it seems they are so far overpriced for what they are. Im seeing 80s crown Vics for 3k an up, a labaron station wagon for 5 grand. Do people actually get that kind of money for old cars or do they just set there for ever?. I figure if your going to spend 5 grand for a old 80s station wagon why not spend a little more an get a 50s mercury, Oldsmobile etc. I see old 50s cars running for the 4500-8000 dollar range restored running
- Old Man DirtLv 78 months agoFavorite Answer
A car 25+ years old is seen by some as an antique. In many states they are!
There are published values on such cars, some from auctions and others by companies that research what cars are bringing on the market (NADA). A 1990 Chrysler Lebaron 4 door has a market value of 2500 dollars if prime.
Do not fool yourself on the price of a 1950's car, they are not cheap if they run at all.
The price of a used car drops until it is about 25 years old then they start to increase in value. For some cars the time to when depreciation ends is less, some never depreciate (A Ford GT for example) unless wrecked.
- zipperLv 68 months ago
Because the new cars are so over priced, that drives the used car prices up.
- Anonymous8 months ago
Many are fully restored. They put $ in, why should they lose it?
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- 8 months ago
Good question. Let me know lol
- Trump 2020Lv 78 months ago
I was asking the same question back in '62. I wanted a new Corvette, and they were priced from 5500 dollars up. I was like SHEESH those are way too expensive.
Oh, don't even consider a Le Baron. One of the WORST mopars ever designed.
- NeverLv 78 months ago
those prices are somebodies wet dream. But even at a wholesale auction, the winning bidder has to pay more than everyone else there.
- A HunchLv 78 months ago
There are some cars that increase in value and some that don't. The cars you are looking at have a cult following which increases their value. This is why are higher priced than most cars from the time period.
- Echo ChamberLv 58 months ago
First, asking price is not market price. But the used car market is strong these days. And that is mainly because new car prices are too unobtainable for the average consumer, and new car manufacturers have overestimated what kind of technology motorists want. And it's that technology that the consumers are paying for.
And today's used cars are much more durable than what used cars used to be. The Crown Vic, for instance, can last 500K miles if it's really taken care of.
Still, I bet you can offer less than half, and still close on the cars you're looking at.
- Donnie PorkoLv 78 months ago
Because they’ve had a lot of wear and wear and the dealership has to spend a lot of money to make sure that it’s safe to drive. New tires are about 500 to 1000. Getting the brakes and rotor replaced, about 1000 or more.