I knew that flour anecdote was gonna get me into trouble. Did you further know that salamanders used to cost $4/dozen and now they’re at $12 each? DID YOU?! Anyways, there’s some real news that makes me satisfied with my choice to sell my truck last December. It appears that the secondary market for SUV’s has, ahem, crashed.
Via Calculated Risk.
Thinking about trading in that Tahoe for a Civic? Sit down.
High fuel prices are causing the value of used SUVs to plummet, often below what’s listed in the buying guides many shoppers use to negotiate with dealers.
As a result, some new-car buyers think they’re getting cheated by dealers who are offering them little for their SUV trade-ins.
“The dealer is going to offer a price, and the customer is going to be ticked off,” says Tom Webb, chief economist for Manheim, operators of auctions where car dealers buy their used-vehicle inventories. “The guidebooks have not caught up to the market,” he says.
Just call me Boris.