New/used vehicle prices will spike

[Tvflguy]

Just pondering. With all the photos and videos of damaged and totaled vehicles in the wake of Ian. Plus the “chip” issues delaying manufacturing of new vehicles. And the sky-high prices of both new and used…

The result will no doubt become even Higher prices and limited availability. As expensive as they have become…hang on.

Personally we have a lo-miles nice vehicle with no plans to buy. But for those planning to buy- or forced to buy…OMG. And the car dealers smacking lips.

[dewilson58]

More importantly.......................don't buy flood damaged vehicles.

[MartinSE]

Might be, might not. Too many factors to predict for sure. Also, there are going to be A LOT of used vehicles sold with water/flood damage and not represented that way. Anyone buying soon should be very careful about the background of the used cars. Legally the cars have to be recorded as flood damage, but not everyone is honest - ahem...

[Tvflguy]

More importantly.......................don't buy flood damaged vehicles.

SuperGreat and very timely point.

[kkingston57]

Just pondering. With all the photos and videos of damaged and totaled vehicles in the wake of Ian. Plus the “chip” issues delaying manufacturing of new vehicles. And the sky-high prices of both new and used…

The result will no doubt become even Higher prices and limited availability. As expensive as they have become…hang on.

Personally we have a lo-miles nice vehicle with no plans to buy. But for those planning to buy- or forced to buy…OMG. And the car dealers smacking lips.

This will create a little more demand but on a world wide basis it is probably well under 1% more. Katrina probably caused more damages to cars than Ian.