So I hear used cars are more expensive than new cars

… remember this?

the inverted curve can only mean one thing…

We have 14 months left on our lease, which we took out in March 2020 right after the world went to hell. Talked to our salesguy earlier in the week about possibilities for when this lease expires. We could pay the penalty on the lease, buy the vehicle outright, then trade it in for a new vehicle and still make money.

That’s bizarro world shit.

It’s a little bonkers. I bought a (used) car in March of 2018 and I could sell it now and break even. A friend of mine in Utah bought a 2020 Corolla hybrid new in 2020, the dealer that sold him the car offered him $2k or $3k over what he paid to buy it back.

Energy costs are the biggest driver of the 6.8% or whatever it is headline inflation. Used car prices are the second biggest driver.