this post was submitted on 06 Oct 2023
624 points (94.3% liked)
Technology
59597 readers
2854 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
“Are there people flipping cars like they do with houses?”
Yes. Dealerships. Used car lots. People who offer you $3,000 on trade in and turn around to sell the vehicle for $9-11,000 after a detail and oil change.
People should never trade in or sell their car to a lot/dealer, because they are almost always settling for about a quarter of its value. But the convenience of not having to find a buyer is awfully tempting.
I don't disagree with anything you're saying, but I'm talking about new cars. Outside of profiting off of EV rebates as someone else mentioned, I don't know of anyone buying new cars to flip. Which is why talking to people about immediate depreciation seems silly to me.