The used car market is going crazy?
No, people who are retiring, are buying up the makes and models of vehicles they had when they were young and restoring them.
The interesting part about this, is that many of us are still using these vehicles as daily drivers, tree debris trucks to haul away branches from our yards, or keeping them ourselves to restore.
The older guard is passing away or going into rest homes, and their Model T's, and A's are no longer worth as much because the demand is less. But, those of us who grew up in the 60s and 70's are seeing If we can snag a 1973 Chrysler Newport, or a 1976 Oldsmobile Cutlass because we have so many fond memories of learning to drive in those old boats.
And, of course the other thing that is happening, is that the price of new vehicles are out of range for many of us. Therefore we are repairing our vehicles. And, the gap between those of us who can afford new, and those of us who cannot, is growing. The evidence of this is the a growing market of companies buying cars that are damaged and finding buyers wanting to repair them.
Just a few years ago I would sell a vehicle with a bad engine that the customer no longer wanted for salvage price. Now, there is a chance the customer can sell that same vehicle, through a company that is looking for buyer, for 10 times that amount.
Look it up. That dead vehicle in your driveway might be worth more than you think.
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