Price drops?

Between_the_Wheels

I've been hearing that it may be better to wait if you were looking to buy a used vehicle prices may drop as prices got so high and then the recession hit, that people are balking at paying the higher prices...This seems to be confirmed when I went to a dealership today and the sales guy said 3 months ago they were selling 200 vehicles a month, now about 70.....So as I'm looking to buy a used Ford F 150 in that sweet spot range of price/age/mileage, I'm looking at a 2019 with under 30k miles with luxury 302A interior and possibly 4 wheel drive...the range seems to be upper 30's to low 40's and I'm wondering if I give it a few months if that range will move lower. What do you think?

Michaell

Between_the_Wheels said:

I've been hearing that it may be better to wait if you were looking to buy a used vehicle prices may drop as prices got so high and then the recession hit, that people are balking at paying the higher prices...This seems to be confirmed when I went to a dealership today and the sales guy said 3 months ago they were selling 200 vehicles a month, now about 70.....So as I'm looking to buy a used Ford F 150 in that sweet spot range of price/age/mileage, I'm looking at a 2019 with under 30k miles with luxury 302A interior and possibly 4 wheel drive...the range seems to be upper 30's to low 40's and I'm wondering if I give it a few months if that range will move lower. What do you think?

The information I've seen (and read) leads me to believe that prices may be starting soften - on the wholesale side. It may take some time for the retail prices to catch up, IMO.

But, with interest rates rising, that could be sooner rather than later.

So, prices may come down, but interest rates may go up, leaving you with the same rough payment.