Screenshot: Platinum Pre Owned Carlisle
The one fallacy of our capitalistic market system — one that enables and allows individuals to (bafflingly, at least to me) charge more for something that is in short supply — is the arbitrary notion of assigning value to goods, which has come into play in a big way in this used car market. Economists say market prices are entirely made up, or, as Austrian economist Carl Menger put it, its a judgment call that benefits someone’s pockets:
Value is thus nothing inherent in goods, no property of them, nor an independent thing existing by itself. It is a judgment economizing men make about the importance of the goods at their disposal for the maintenance of their lives and wellbeing. Hence, value does not exist outside the consciousness of men. It is therefore, also quite erroneous to call a good that has value to economizing individuals a “value,” or for economists to speak of “values” as of independent real things, and to objectify value in this way.
Value is pretty much bullshit and the current car market shows it, with dealers tacking on prices just because they can. A great example of how screwed it is, outside of the widespread markups, is used car dealer Platinum Pre-Owned in Carlisle, PA. The dealer is… a piece of work.
In a market like this with ever-shrinking inventories, Platinum has a pretty healthy 224 cars as of this writing. Most are priced similarly to the nightmares in the header photo above.
Screenshot: Platinum Pre Owned Carlisle
Take these three Mitsubishi Mirages shown above. They have relatively low miles for being two and three years old, but the dealer is asking $29,990 each. The dealer is also asking for nearly $30,000 for a base, blank-button-having subcompact that Kelly Blue Book says shouldn’t be worth more than $14,000 in very good condition.
Screenshot: Prestige Pre Owned Carlisle
What about a hatch? That should be cheaper right? Think again. This place put a $24,990 price tag on this 2016 Chevy Spark with over 107,000 miles on the odometer. KBB values this little setup at around $9,700.
Screenshot: Platnium Pre Owned Carlisle
Someone in the market for a Ford Fusion shouldn’t be too sad that Ford doesn’t make them anymore. Platinum can help them out, as long as they’re willing to part with $20,000 for a 16-year-old 2006 Fusion.
Screenshot: Platinum Pre Owned Carlisle
Want an SUV? How about a 2016 Hyundai Tuscon that costs as much as a new one, except it has nearly 97,000 miles? Only a fool would drop $34,000 on a six-year-old crossover. Honestly, if you’re in the mood for a laugh, their inventory has gems. Signs of illegal substance use are evident throughout the dealer’s inventory:
A $38,000 base 2020 Chevy Trax with almost 30,000 miles.
A $41,000 2019 Honda Civic Hatch. LX mind you.
A $47,000 2020 Chevy Silverado W/T regular-cab work with just under 16,000 miles.
Screenshot: Platinum Pre Owned Carlisle
Even the listed, so-called “high-end stuff” is a joke. I’m a huge fan of the Kia Stinger but I wouldn’t pay $59,990 for a three-year-old example with 14,000 miles, even KBB agrees with me.
Go and check this place out if you want a good laugh — or nightmares. Just don’t give them any of your business.
Source: https://jalopnik.com/welcome-to-used-car-buying-hell-1848381994