Interesting to hear that used car sales are so bad now, after just months ago hearing things were so hot, if you had a clunker out back that didn't even run, you could get thousands for it.
Keep in mind, the catalytic converter on every vehicle is worth $1000-$2000 to a scrap metal dealer. They're so valuable now, it has become one of the most stolen items in Canada (and probably USA etc). Even more than flat screen TVs. Entire criminal organizations have sprouted up that do nothing other than steal catalytic converters off parked cars and melt them down. Nearly a billion dollars worth of stolen catalytic converters was recently seized by police in a warehouse. So used cars must be worth at least $1000 just for that part alone.
RE: Expect A MAJOR Economic Meltdown In 2023
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Expect A MAJOR Economic Meltdown In 2023
The auto sales are taking a dive and with the bankruptcy of Carvana, it's very likely that the vehicles that are owned by them will be liquidated and sold for cheap. The boom in used auto sales has ended.
What's funny is that on my sister's previous car, some losers stole her catalytic converter.
Catalytic converter theft has become one of the top crimes in North America over the past couple years. It's because they're made of precious metals, which have gone up in price lately (and will continue to).