SUV market is gone

[thefairlaneman]

I saw on a news report tonight that SUV values have droped by 40% in just 12 weeks. The folks trying to unload them on craigslist saying they are willing to let them go below kelly blue book dont have a clue. Kelly Blue book is worthless now. Its hard to imagine that a 30 k new suv that was bought just 2 years ago is only worthabout 12 or 13 k now..mans that ruff

 

[roscoe]

Re: SUV market is gone

Well, if it listed for 32k 2 years ago, they could have bought it for 24k, then depreciate it 15% a year for 2 years, and it is valued at 16k tops. So 12 or 13k isn't to far off of how they have been valued in the post 911 era.

So, where can I find a 2004 Trailblazer for under $7,500 ?

 

[kenmyfam]

Re: SUV market is gone

Sign of the oil price times !!! unfortunately.

 

[JB]

Re: SUV market is gone

Yup. Sold Ole Blue for 2/3 of book.

 

[jay_merrill]

Re: SUV market is gone

And, to make matters worse, some would say that the Kelly books aren't all that accurate anyway. I always found their values to be a bit on the low side. A more accurate guide to me is NADA.

 

[thefairlaneman]

Re: SUV market is gone

The list price is just a con . No one pays list. Im saying someone who PAID 30 k now has a vehicle worth only about 12 now. To find the correct value for todays market find the price in NADA ,then reduce it by 40%...

 

[JB]

Re: SUV market is gone

I think the best guide is what a car is going for on eBay. That is the only one that is buyer driven.