Comment by lesuorac
9 hours ago
There’s cars upwards of 20 years still on the road …
But also the waves overlap so we’d still have about 700k cars in additional supply.
9 hours ago
There’s cars upwards of 20 years still on the road …
But also the waves overlap so we’d still have about 700k cars in additional supply.
Most cars that are 30 years old with 318,000+ miles are no longer in service, which is what the average cash for clunker car would have today.
And even if they are still on the road they different enough in quality that they are not affecting the resale price of covid era cars. People do not cross shop 2021 cars with 60k miles with 1996 cars with 300k+ miles.