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It's a bubble caused by the chip shortage. Used cars going for prices too close to new has been going on for many years, here and there. A friend has a 2018 Grand Cherokee I helped her lease with a payoff at $22,445 that will bring $33,100 from Shift.com, but best bid of the online buyers.
It's a seller's market that might burn out sometime within the next year. Hard to predict when, in my opinion. First the new car inventory has to start to normalize. Last March I was unable to get any equity from my e-tron at the end of its 1 year lease. That's okay- it was the height of insanity when I got it in March, 2020. I got all my money back minus sales tax on a Tesla Model 3 in April of this year. There's still some deals new or used that aren't that bad if you look. It's funny how some customers are currently begging to get a car for MSRP. A year ago they were grinding for $5-6,000 off MSRP on the same car (as an example). Not only are dealers not discounting or charging a premium, there's usually no more factory incentives, which contributed a lot to the big discounts.
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