Login Register

Used car prices in the future: up or down in a year?

Help, Advice, Owners' Discussion and DIY Tutorials on Volvo's stylish, distinctive P2 platform cars sold as model years 2001-2007 (North American market year designations).

2001 - 2007 V70
2001 - 2004 V70 XC (Cross Country)
2004 - 2007 XC70 (Cross Country)
2001 - 2009 S60
2003 - 2007 S60 R
2004 - 2007 V70 R

Post Reply

Where are used car prices going?

Used cars will be MORE expensive in 12 months
6
27%
Used cars will be roughly EQUAL in 12 months
4
18%
Used cars will be LESS expensive in 12 months
12
55%
 
Total votes: 22
User avatar
matthew1  
Site Admin
Posts: 12254
Joined: 14 Sep 2002, 11:03
Year and Model: 850 T5, 1997
Location: Denver, Colorado, US
Has thanked: 1296 times
Been thanked: 635 times

Used car prices in the future: up or down in a year?

Post by matthew1 »

I've given this a bit of thought. There's a large number of moving parts to this question. What do you think?
Help keep MVS on the web -> click sponsors' links here on MVS when you buy from them.
Also -> Amazon link
. Click that when you go to buy something on Amazon and MVS gets a kickback.

1997 850 T5, MSD ignition coil, Hallman manual boost controller, injectors, R bumper, OMP strut brace [gone]
2004 V70 R [gone]

Image

scot850
Posts: 8614
Joined: 05 Apr 2010, 14:46
Year and Model: 2000 V70 R
Location: Calgary, Alberta, Canada
Has thanked: 146 times
Been thanked: 559 times

Post by scot850 »

My vote is more in hope than it will necessarily happen. We have virtually no Volvo private sales in Calgary any more. All are dealers whether Volvo or others. Seldom see a vehicle for sale under $40000 CDN unless it is over 5 years old and out of warranty.

The few private sales are truly hopeful prices. $9000 for a 150,000 mile + 06 XC70 with no service records and faults? Really??
A year ago those were $3-4000 cars and still not worth it as you know you have $2-3000 is repairs to bring the car to stage 0.

Neil.
2000 V70 R - still being an endless PITA
2006 XC70
2003 Toyota 4Runner V8 Limited
2015 Kia Sportage EX-L - Sold
1993 850 GLT -Sold
1998 V70 XC - Sold
1997 Volvo 850 SE NA - Went to niece in California - Sold
2000 V70 SE NA - Sold

User avatar
Krons
Posts: 167
Joined: 09 Jan 2022, 05:58
Year and Model: 08 & 02 S60 turbos
Location: Des Moines, IA
Has thanked: 24 times
Been thanked: 25 times

Post by Krons »

Ultimately it is supply and demand. I hope supply improves as new car supply slowly improves and demand cools a bit with higher interest rates. Seems current prices are not sustainable.
2008 S60 2.5T - 2002 S60 2.4T - 2005 S40 2.4i (RIP, timing belt failure)
The non-Swedes:
2019 Rogue SL - 2017 Frontier Pro-4X - 2007 Focus - 2007 R1200GSA

User avatar
FireFox31  
Posts: 878
Joined: 14 Aug 2006, 10:32
Year and Model: 2000 V70 NA auto
Location: New Hampshire
Has thanked: 85 times
Been thanked: 119 times

Post by FireFox31 »

I expect car supply to increase due to fixed supply chain problems, demand to decrease due to increased interest rates and inflation (people having less discretionary income), and further decrease due to the recession that business fears will inevitably create (job loss, less income, etc). The current rush to increase manufacturing capacity may actually create excess supply in a few years, leading to significant or even desperate discounts, especially if the recession overlaps that excess.

I've been patiently waiting for a specific used car, tracking prices daily since December 2020. I've saw prices rose and cars sell quickly. Now I'm seeing lower priced cars and even they're hanging around for a month even with a price drop. So many other sellers are trying to ask 2021 prices but those cars have been sitting unsold for many months.
FireFox31
Blue 2000 V70 manual, "the V70" - died, reborn, totaled, donated, stripped
Green 2000 V70 automatic, "the G70"

User avatar
abscate
MVS Moderator
Posts: 28786
Joined: 17 Feb 2013, 17:54
Year and Model: 99: V70s S70s,05 V70
Location: NYC, ALBANY NY
Has thanked: 785 times
Been thanked: 2142 times

Post by abscate »

I’m holding firm on my EV ready blue V70
Empty Nester
A Captain in a Sea of Estrogen
1999-V70-T5M56 2005-V70-M56 1999-S70 VW T4 BMW
Link to Maintenance record thread

User avatar
June
Posts: 2117
Joined: 04 May 2016, 11:18
Year and Model: 2004 S80 T6,1991 740
Location: Arkansas
Has thanked: 435 times
Been thanked: 222 times

Post by June »

More expensive. Inflation... June
My Volvo cars owned
1989 740 GLT ordered
1994 850 4door standard shift ordered
1996 960 ordered
1998 S90 ordered totalled after 3 weeks
1998 V70 GT dealer stock car
2002 S80 T6 ordered totalled
2004 S80 T6 dealer stock car and current car owned

User avatar
MrAl
Posts: 997
Joined: 08 Apr 2015, 16:45
Year and Model: v70, 1998
Location: New Jersey
Has thanked: 9 times
Been thanked: 15 times

Post by MrAl »

scot850 wrote: 02 Jul 2022, 16:02 My vote is more in hope than it will necessarily happen. We have virtually no Volvo private sales in Calgary any more. All are dealers whether Volvo or others. Seldom see a vehicle for sale under $40000 CDN unless it is over 5 years old and out of warranty.

The few private sales are truly hopeful prices. $9000 for a 150,000 mile + 06 XC70 with no service records and faults? Really??
A year ago those were $3-4000 cars and still not worth it as you know you have $2-3000 is repairs to bring the car to stage 0.

Neil.
This is interesting. I bought my 1988 Hyundai with 65k miles for $1000 USD. 20 years later i had to pay $2000 for this Volvo 1998 but it did need a new air pump and SAS valve and some other things.
It's hard to say what prices will be, but with inflation i dont see an end to the rise in prices especially since that also seems to coincide with people wanting to keep their older vehicles longer which keeps the availability of used stuff down.
Just before i bought my Volvo I was appalled to see that at a local used car place the cheapest car there was $4000 USD and when i went to take it for a test drive the battery was dead.
I’ve been driving a Volvo long before anyone ever paid me to drive one.
1998 v70 on the road since April 2nd, 2015

scot850
Posts: 8614
Joined: 05 Apr 2010, 14:46
Year and Model: 2000 V70 R
Location: Calgary, Alberta, Canada
Has thanked: 146 times
Been thanked: 559 times

Post by scot850 »

Agreed Al. If the cars being sold were actually any good and maybe needed say $500-1000 spent on them then maybe, just maybe.

Having said that, a 98 V70R has just come up for sale in the back of beyond, Engine supposedly runs and trans supposedly ok. But can't test drive it as 'some bearing' is bad and the brakes are grinding. Does that sound like a car you are willing to pay $2500 CDN for, especially as it will have to be towed, and the car is also a rebuild and an 'R'.

Me thinks not!

Neil.
2000 V70 R - still being an endless PITA
2006 XC70
2003 Toyota 4Runner V8 Limited
2015 Kia Sportage EX-L - Sold
1993 850 GLT -Sold
1998 V70 XC - Sold
1997 Volvo 850 SE NA - Went to niece in California - Sold
2000 V70 SE NA - Sold

vtl
Posts: 3132
Joined: 16 Aug 2012, 13:35
Year and Model: 2005 XC70
Location: Boston
Has thanked: 26 times
Been thanked: 226 times

Post by vtl »

scot850 wrote: 02 Jul 2022, 16:02 $9000 for a 150,000 mile + 06 XC70 with no service records and faults? Really??
Why would you want service records? Talk to the owner, maybe he is turning his own wrenches. I have no official records on any of my vehicles, only what I fill for myself.
05 XC70, 19 Tundra, 22 Sequoia, 16 XC60 (sold), 05 XC70 (crashed), 02 V70 (sold)
P1+P2+P3 CEM PIN-code retrieval DIY thread

User avatar
MrAl
Posts: 997
Joined: 08 Apr 2015, 16:45
Year and Model: v70, 1998
Location: New Jersey
Has thanked: 9 times
Been thanked: 15 times

Post by MrAl »

scot850 wrote: 04 Jul 2022, 11:01 Agreed Al. If the cars being sold were actually any good and maybe needed say $500-1000 spent on them then maybe, just maybe.

Having said that, a 98 V70R has just come up for sale in the back of beyond, Engine supposedly runs and trans supposedly ok. But can't test drive it as 'some bearing' is bad and the brakes are grinding. Does that sound like a car you are willing to pay $2500 CDN for, especially as it will have to be towed, and the car is also a rebuild and an 'R'.

Me thinks not!

Neil.
Hi,

Mine had grinding brake in the back passenger side. It needed a new drum so ended up getting both sides done.

What does the "R" stand for, dont remember hearing about that.

Is it a wheel bearing?
Maybe talk it down to 1500 or something?
I’ve been driving a Volvo long before anyone ever paid me to drive one.
1998 v70 on the road since April 2nd, 2015

Post Reply
  • Similar Topics
    Replies
    Views
    Last post