1743
5 min 46 sec

Q&A: How to profit from the wild used car market?

Used car prices are sky-high! If you’re not currently selling a car, is there any way to profit from markets like these?
Q&A

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What It's About

Today's listener hopes to add fuel to the hot used car market.

Notes from Chris

Episode 1743
The used car market continues to amaze! I was going to announce that I’m shutting down the podcast to open a car lot in my backyard. But then I realized a few problems:

1. No backyard

2. No car

3. Don’t really know anything about cars

4. Don’t like to talk on the phone

So I finally realized I should stick to podcasting. Still, I do try to pay attention, and like you I’ve seen the stories about new cars holding their value long after they leave the lot (which never used to happen) and used cars selling for major premiums all because of a nationwide shortage. Today’s caller wants to know: how can he profit from this market?

"Hi Chris this is Trent and I’ve been following the show for a while. Thanks for all the help. The economy is wild these days! If you've tried to buy a used car recently, or if you know anyone who has, you probably know that prices are higher than ever. I think it's because of rental cars being sold off, or something to do with supply chains ... whatever it is, used cars are the new iPhones. I've heard that in some cases, dealers are buying back cars for more than they sold them for last year. A long time ago, I bought and sold a couple of cars a year, not really a big business but just something to make extra money. Now I'm thinking I wish I had stocked up on vehicles before the pandemic instead of buying toilet paper! But since it seems that this market will continue for a while, what's a good way to profit from it?"

Listen to today's episode to learn more...

 
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