COVID + high fuel prices. How much is my car worth?
 

I question whether I really need two cars. I can only drive one. What if I sell one?

What if I'm in an accident and it's not my fault and insurance pays for my car? How much would I get?

I was thinking about the Avalon hybrid and first used Kelly Blue Book to see what they said. According to KBB the car has a trade in value of $9,600 and a private party value of $11,500, give or take a thousand.

But when looking for a similar Avalon, I can't seem to find one for less than $17,000, for similar miles and years, and those are over 500 miles away. Searching closer to home prices are even higher. Carmax has one for $21,000, same year and color, but with lower miles at 75k instead of 115k, only 300 miles away (in NM, which I believe is a cheaper market than Colorado).

I owe $3,000 on it.

I'm tempted to try to sell it.

Sell it private party. Doesn't hurt to list it for the amount you'd be happy to get.

It looks like there are parts of the country where I could get a Chevy Bolt that costs about the same. I wonder what insurance would be though and if the Bolt would work for us. It's got to be better than the Leaf.

See if there's a Bolt on Turo and rent it for a couple days to see if it works for you. Springtime is upon us, so it won't simulate the worst CO can throw at it. Expect about 1/3rd reduced range in winter compared with best range in the spring.

What's your charging situation looking like at home?

I couldn't find a Bolt in the entire state of Colorado.

Charging is a 20A 120V outlet, with the possibility of a 40A 240V EVSE again, although I have the suspicion I might move some day somewhere with less of a chance of having a level 2 EVSE. Let's just hope I don't.

But there is a free 4 hour 6kW EVSE station that practically nobody uses in walking distance of my job.

Perfecto. Use the free stuff while you can.

That said, your instincts are all wrong. You don't buy a used EV when used car prices are up 40% and everyone wants an EV. You buy an EV when gas prices are 2/gallon and nobody wants them.

Sell the extra car now, throw those funds in the stock market while it's low, and sell when it recovers, and buy when nobody wants an EV.

Bolt with 45k for $16,440:

https://www.autotrader.com/cars-for-...ngId=556875777

Avalon hybrid similar miles, same year for $19,990:

https://www.carvana.com/vehicle/2254234

2006 Prius second car, burns oil and needs catalytic converter (OEM California Compliant according to Colorado Law) and possibly HV battery and either pistons or maybe short block (oil burning), although not necessary right now (battery works since I changed a few modules and there is no emissions test).

Used Electric Car Prices have Soared.
https://insideevs.com/news/560332/us...prices-soared/

I've been tracking used Bolt inventory for over a year. When I started looking, there were 125 in a 200 mile radius. Today, there are 2, and they are way above the new price of a Bolt over a year ago.

You don't profit by doing what everyone else is doing (reacting), you profit by doing the opposite.

Used car prices are soaring. Sell it. Take advantage of the suckers.

True. Unless I endup carless and homeless from selling when prices are high, or if I try to buy cheap cars or home when jobless from jobs drying up.

But still, that's good advice overall.

The question will be if the Prius will hold out until prices go back down.

In my ever so humble opinion* prices will not be coming down for a year, maybe two years. And "coming down" might actually look more like "not going up". New car inventory will have to increase dramatically first, which requires computer chips that are still in short supply. Then the used car marketplace needs to be refilled. I expect the US will be in recession at roughly the same time.






* These are all WAGs on my part. YMMV, grains of salt available upon request.

Yeah in the back of my mind that's what I'm wondering too. Inflation generally moves in 1 direction. Hard to imagine a 40% price increase in 1 year being a permanent feature though.

Also uncertain is how much longer we're going to get access to cheap Chinese products and the subsidized shipping rates. If we start tooling up the US, products are going to cost more.

It's also not sustainable to be paying kids at fast food joints double minimum wage. The owners of a franchise restaurant like McDonalds might only have $70k in profit at the end of the year when they pay minimum wage. They're running a charity if they have to pay $17/hr.

A. I would check what Carvana, Vroom, and CarMax will pay for the car. All will give you a real quote with about 2 minutes of work. That will give you a good idea of value and you can decided if you want to sell to them or try a private party sale.

B. I would sell the Prius and keep the Avalon. You live in a remote area and need a car to get to work. If you go down to one car don't keep the one with a bunch of potential problems.

C. Car prices aren't dropping this year - maybe not even next year unless we have a recession. We are still struggling to build vehicles. It isn't just chips that are in short supply - it is just about everything. You can expect new car production to be millions short of new car demand this year.

D. Chips are actually easier to build around than some other components. Build a vehicle, drive it to offline, strip the chips out, reuse them for another vehicle - repeat. We can use the same set of chips over and over to keep the assembly lines running. Then when a new shipment of chips arrive crews go out to offline, install the chips, program them, and ship the vehicle.

Some of our competitor have started shipping vehicle missing chips and leaving it to the dealer to install in customer's cars when they come available.


I'll be selling my Astro Campervan this summer. It is pretty crazy what people are asking for Astro vans. Base model cargo models with more than 200K for $6,000! I paid $4300 for my fully load passenger model with 75K miles back in 2015.

They raised prices. The average price for a Big Mac (just the sandwich) is $6.05 in the USA right now. My cheeseburger meal (regular size) was $6.48 in Raleigh, NC. The "$5 foot-longs" at the Subway near my work are now about $9. The large pizza at my local brewery was $23 last night - it was about $16 back in early 2020. (Before tip of course)

Yeah, $10 pizza Tuesday at Papa Murphy's is now $13. I used to leave a tip for the kids, but not anymore that they're making $16/hr.

The poor and the extremely wealthy have made out very well in the pandemic, and the middle-class have foot the bill.

Everything goes up except wages. Well, wages just take longer and never really catch up.

There is only one listing for a rental in town. It's a 3 bedroom for $3,000 per month.

My mindset is yes, I complain too much, but I'm also ready for whatever comes. If, at worst, I have to make a McDonald's wage and move the family into a camper or even a cave, I'll do it. On a lighter note, if we have to go without internet, cell phones, a decent car and eat beans and rice every day: No biggy. That was my life when I was a kid.

It's when there's the probability or reality of absolutely nothing to eat is when it's time to start getting worried.

But before any of that doom and gloom, if there's an opportunity to live better (without doing something bad like robbing a bank or killing off a rich familiy member) why not take advantage?

Wages pretty much have to catch up to inflation in the long run, as they are essentially 2 sides of the same coin. As I stated above, the poor and rich made out in this pandemic.

People making minimum wage got paid to stay home, got bonus checks, and then had their wages double when they returned to work.

The medium wage earners had their paychecks stay flat, were not given money to stay home, had smaller bonus checks from the government, and got to see food, shelter, and transportation prices increase 20-40%.

Rich folks that own Google and Amazon made record profits as the government shutdown the small/medium businesses and drove consumers to the big businesses. Amazon and Google then advocate for increasing minimum wages knowing it prices out the startups, and they already pay their employees above those wages.

You've got the same mindset I do, that I'll make due at whatever economic level I find myself. It's impossible to starve in the US except for severe neglect of the disabled or otherwise handicapped decision makers. The only thing that will cause starvation here is a catastrophic global conflict.

Regarding Jason's advice, he's absolutely right that you don't hold onto the unreliable car and sell the reliable one. You and Xist seem to compete to see who can come up with the most "unconventional" ideas.

I was thinking of trading both cars in for a small airplane and then doing a steam engine conversion and running it on burning cow pies... :D

Take that idea, wander off on 6 tangents filling many paragraphs, then end with needing to do push ups, and we'd not be able to tell you two apart. :P

The Prius question will be whether #1, if I really need it and #2, if I can get a decent price out of it and #3, if investing a little into it would pay off.

Similar Priuses, Prii, Prius (plural) are also going for quite a bit. But most of those have a front bumper and a hood that doesn't look like it's been in Ukraine for the past month (I got two hoods, one hail damaged and the other pretty bent up from deer crash). The Prius burns oil and I still need to get the front right wheel bearing replaced, which I have but just haven't gotten around to it. Other than that it is a pretty decent car. I think if I get a bumper I can bondo the hood to make it look fine.

I have about $1,000 into it so far, $300 Prius plus used fender, hood and aftermarket headlights and three HV modules less the cost to sell the three bad ones, plus a $20 6 cell NiMH battery charger and a simple discharge circuit I put together. OH, and I bought some sparkplugs and changed the oil a couple times.

I was hoping to install a ham radio into the Prius as I don't have much of a chance on the property I live at because #1, I live near an airport and #2, the landlord is a pain to deal with. The Avalon would be harder to install a ham radio antenna because of the sun roof unless I went the route of magnetic base antennas or something similar. The bigger roof and ease of putting the antenna right in the middle through a hole makes the Prius a better ground plane in theory for higher wavelenghts. But the Avalon already has a trailer hitch which would be good for a 40 ft mast.

Enough tangents so far?

Zero tangents in your last post. 100% related to which car to sell

Have you considered a steam-powered steam-lift airship. Steam has buoyancy similar to Helium.

More freebeard than Xist due to the steampunk reference, but very tangenty.

I could've mentioned that the guy who was supposed to pay for the Dasher on the 20th only came through with a partial payment. He'd offered $400 on Friday but I told him to hold it.

Then he came back with a story about how he'd been robbed in a transaction gone bad in the local supermarket parking lot. I'm not sure I want to believe that.

I think he wanted to make me feel like it's my fault.

More Xistian, but less tangenty now that I look at the thread title.

No stories randos tell are true. 100% of people that come into a business soliciting patrons with a story about how they don't have enough for groceries or rent are lying through their teeth. From now on, I'll simply say that nobody has time for their lies. Come with the truth, and maybe someone will listen.

Bad enough to humiliate oneself by begging, no need to completely throw all honor away with lies.

Also, never part with something until it's paid for in full, and never pay for work to be done until the work is done. At max, pay for work incrementally as it's performed.

Looking at Kelly Blue Book, the Prius is supposedly worth around $2,800, give or take $1,000 in fair condition. So I may be able to make a profit off of it if I can sell it. But that amount is less apealing as I have to still compare that with the value of owning a second car. If the Avalon died for what ever reason (like gets hit with a snow plow while parked) then renting and/or finding a temporary replacement would add up past the $1,800 profit.

The car is parked out front, and his down payment is in a safe with the title. My concern lately is more that he has a parking spot for it but no shop or garage. I want him to take it back to the previous owner, the shop that used it as a loaner for ten years.

I need to let go, but it sure does look good sitting out front with the Metro and the Superbeetle.

I just talked to Rachel (Arcimoto Fulfillment Coordinator) about putting a deposit down on an MLM. She reminded me that from this year Oregon has a Charge Ahead Rebate Program [for qualified buyers] worth $7.5K against an FUV.

https://evrebate.oregon.gov/

That would be $10K out of pocket, but all three cars should sell for close to that.

I wonder if you can ship an FUV in an AMTrak baggage car?

You'll find Oregon EV prices are higher than any other market, which is why all the used ones are from California. Good thing we've got benevolent Great Leader geniuses leading us.

I don't think any of those subsidies applies to trikes.

www.oregon.gov/deq/FilterDocs/EV-ChargeAheadRebatevehicles.pdf

Arcimoto is first on the list, before Audi. ElectraMeccanica follows in alphabetical order.

I wouldn't believe KBB for a second in this market. This is what an early 2nd gen Prius is being offered for near me.

https://ecomodder.com/forum/attachme...5&d=1648307228

So if I fix the cosmetic flaws on it (needs a front bumper more than anything) and the obvious mechanical problems (loud wheel bearing, which I just need to install) it may go for $5,000 or more. The check engine light will be on though since it has a dead cat.

That would be nice though if I can sell it for that. It would almost make me feel sorry for the guy who let me talk him down to $300.

The buyer just ponied up and drove away in the Dasher. He says he's already turned down offers of more than he paid, but he says he's never going to sell it. If true, I found a good next owner.

The funds will go into a separate account earmarked for the MLM, which ships in Q4. I will be on the West side next week and throw down another $100 reservation.

One other thing to throw into the calculation, I save around $35 per month for having two cars. Yes, my insurance payment goes down when I have two cars because the multi car discount is more than the cost to insure another car...

Of course it will take a lot of months for $35 to equal some $5,000 or $7,000 or so.

I don't know the MSRP on the MLM yet, but 6+ months of savings plus some out-of-pocket should cover it.

And the FUV is back on the table (with the Oregon rebates post 1 Jan). I was talking to the Dasher previous owner and he's watching Beetle prices. What is COVId pricing on the Metro XFi? NADA book value says $475 - $750 - $1100.

high fuel prices too
 

It's not JUST supply shortages driving up car prices. Higher fuel prices are adding to the demand of some vehicles.

I could easily sell the beater Mirage I picked up last summer for 2-3 times more than I paid for it (admittedly I got an unusually good deal at the time).

https://ecomodder.com/forum/attachme...1&d=1624296900

The Mirage has the distinction of being one of the used cars with the biggest increase in price on a percent basis:

The Price of This Used Car Is Up 50% in a Year - 24/7 Wall St.

PS: And no, I'm not planning to sell it.

I'm busy with other things, and am not motivated by the potential profit.

I could sell my leaf for more than what I paid for it. I don't want to know how much because I might sell it.

I've been struggling with this one lately as well. Shortly after purchasing my i3 3 years ago, I was laid off and have not returned to work - which means I hardly drive anywhere anymore. I've driven less than 6000 miles in that time!

I feel like prices right now are my hedge against normal depreciation. I really like the car, but having a hard time justifying keeping it against that!