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It’s not so much a program as it is a trend. In Spain, which is currently enduring a second blow from a very resilient coronavirus, people are shunning public transit like their life depends on it. It very well could.
What to do? Simple — search classifieds and backyard sheds for any old heap that’s still roadworthy and drive the hell out of it.
As reported by Reuters, data from the Institute of Automotive Studies shows that, in July and August, sales of cars aged 20 years or older jumped 31 percent, year over year. Average transaction price for this group of roughly 44,000 vehicles? $1,655.36 USD.
At the same time, new vehicle sales couldn’t be counted on for growth, rising 1.1 percent in July before a 10 percent drop in August. Transit? What transit? Ridership in the hard-hit country dropped 40 percent this summer.
Obviously, the purchase of so many old vehicles and decreased ridership rates for public transit will have an environmental impact — and we all know how seriously European countries take air pollution and climate change. Just how long the ecological impact will lasts depends on what scientists manage to pull off with drugs or vaccines. With the virus still circulating, the idea of getting onto a bus or as train will, to many, be akin to hopping into a coffin and nailing the lid shut.
One has to wonder about the rate of old-car purchases in other countries, too.
[Image: Volkswagen]
Cheap car prices are for sure high right now in the US I just sold a 20 year old car for about 35% more then I was expecting to get. Talking with family and friends in the wholesale trade confirms this.
For sure. I was going to pick up a decent beater for my grandson who’s turning 15, drive it a year myself while fixing anything needed, but this market is way high. Gonna wait six months and re-assess.
It’s articles like this that try to entice me to sell my one owner 97 Pontiac GP, even if I could get 35% more for it, someone will always try to low ball me out of what it is really worth to me, that is holding on to it to keep the miles down on my 2020 lease vehicle!
I see the idea of rolling two vehicles simultaneously in order to keep miles off of a newer leased vehicle. Could you explain the rationale because I don’t understand.
There’s no snark intended, but why bother leasing a vehicle if you’re not going to drive it? This isn’t a value judgement, but I am having trouble figuring it out.
I’m think it is so he can turn it in with the exact miles allowed, w/o going over. IE a 12k mi per year lease even though he regularly drives 15k per year.
That makes sense. I imagine insurance/additional running costs might alter that equation a bit, but everybody knows their situation better than internet commentors.
For mine, additional miles are $0.15 per. That’s $450 a year or $1350 over 3 years. I’d guess it could make sense if your extra miles are more expensive or if the secondary car serves a completely different purpose.
I really do not need a second car especially this covid year, my lease started in October with 10 k miles/yr, living in Tennessee we even drove to Florida ( in Dec. ) and back, I still only have 5600 miles on lease vehicle, I’m retired so not much going on to worry about keeping miles off my lease, my second car is my 97 Pontiac GP that I bought new and have no intention of selling, it’s my grocery getter/golf car, I’m not going to let it just sit and rot away and just may buy the 2020 lease when it is due, I know it will probably have under 25 k miles on it.
It’s not just old vehicles that are off the charts.
NADA claims my 2019 truck with 15,000 miles is worth more as a trade in than I paid for it new 2 years ago, and that its retail value is basically the same as the window sticker.
Except when you go to the dealer to do a trade on that NADA high value truck or sell it yourself and then realize that new truck is 15 – 20 grand more!
Well you made me curious, so I went to the Build and Price on Ford’s site and built a 2020 as close as possible to mine and it’s only about $1900 more sticker to sticker.
So I guess my conclusion is the used market is insane.
Ran the NADA on the pilot saying trade in is $800 more then we paid for it 2 months ago and retail is $3300 more.
“about $1900 more sticker to sticker”
The discounts might be less though. I’m guessing you did not pay sticker price.
Still, outside of some luxury sedans I’ve never been a fan of “nearly new” vehicles. The value just isn’t there for me versus a new one. I generally stick with new or go with 10+ years old (although those are going up in price a lot too as this article points out).
how could you build a 2020 when they are “building” 2021’s
The Super Duty build and price tool on ford.com is for MY2020. I don’t know if they’ve switched the factory to building 2021s but I haven’t seen any advertised for sale yet.
They tend to leave up the prior year for a little while after they introduce the new models so shoppers for last year’s model can see what they want to look for/have the tool find a “close match”.
However I haven’t heard anything of a change over yet for the Superduty plant. The first F-150 plant closes today for the retool to build the 2021 versions. Since they haven’t said anything about a new SD or Expedition I expect it is largely a carry over. So that means come Tue the trucks rolling off the line will be stickered as complying with 2021 regulations and the new build and price tool will go live at that point.
Got my wife a 2016 pilot in June, could have paid 1-2k less in April but prices were going up so we bought. Now seeing similar ones rolling thru wholesale auctions 1-2k more then we paid retail 2 months ago.
You selfish, selfish Spaniards. Caring more about your personal safety than the tears of despair shed by Mother Gaia and the polar bears.
How -dare- you!
You selfish, selfish Spaniards. Caring more about your personal safety than the tears of despair shed by Mother Gaia and the polar bears.
How -dare- you!
Wow ~
I wonder what my battered survivor 1959 VW Beetle is worth now ? .
-Nate
Mike Wolfe of American Pickers would love to take that VW off of your hands!
I doubt that _very_ much ~
This isn’t some nice old car found in a garage, it’s a true survivor and had it been discovered in the 1980’s it would have been summarily scrapped for the few decent parts it has .
I can list the defects and things I’ve done towards setting it right, my first thing was to fix all the little niggly things and make it a hood runner, the engine threw a rod through the block on the way to Death Valley….
-Nate
My sister owned a 57 back in the 60’s, I learned how to drive a stick in that car, she got rear ended by a Cadillac while stopped making a left hand turn, totaled it! ;-(