Fatigue. The gradual onset of a feeling of tiredness. It can be physical, mental, or in this case, monetary. We have all been paying too much for our homes and used cars for too long. Our wages have increased in minimal amounts but everything else has skyrocketed or remained at a high value. I believe we are in the midst of an impending dumpster fire for used car prices.
I currently have two vehicles for sale. Both have been for sale far longer than I anticipated. It feels like something is amiss with the market. Usually I’ve gotten more interest, more low ball hail-mary offers, or Nigerian princes emailing me. It isn’t that I don’t like them or that they’re bad cars. I have a bad habit... my next car is always my favorite car.
My 1970 Chevrolet Camaro hasn’t gotten much love the last couple of months. To build a similar car it could cost upwards of $60,000. I have put 230 miles on it since completing it. My current price: $35,000. I previously has it listed at $42,000.
When I’ve listed things too high, I’ve either been counseled by those
respected automotive experts that I know, or I’ve received emails from random buyers who tell me that I am ‘bat-shit crazy’. This time I haven’t gotten any of that. I was actually told that my first price was consistent with the market...? If I am being consistent with everyone else, why isn’t it selling?!
The second car I have for sale is my 2006 Infiniti G35 6MT sedan with 149k miles on it. I’ve put a TON of work into this thing and I will be losing my ass. These are facts. I’ve had it listed at $7,000... with little interest. The only interest I’ve had is for trades and even those have been for lesser valued vehicles.
I have really enjoyed the G35. It is essentially a Nissan 350z sedan. It goes like stink, its got the manual transmission, and it can fit the family. It checks all the boxes for a family man’s sports car. The only reason why I can’t say it is thrifty is because I bought the wrong G35 - one needing an engine. I blew the budget rebuilding this one to do it the right way.
If I was to be looking for a G35, I would be looking for this one. So then why am I getting little to no interest? Is my price too high (probably)? Or is it something far worse.
Do I need to sell either of these vehicles? Not really. It would be nice to convert these rolling bank accounts into something else, but I am not willing to part with them for nothing.
The Camaro has been, by far, the nicest vehicle I have ever owned. However, owning a hot rod hasn’t been what I’ve expected and modifying it further to suit my taste (read: LS9) won’t be cheap.
The Infiniti on the other hand has been replaced by my 2011 Toyota 4Runner SR5 4wd. I simply don’t need the Infiniti now and can’t justify keeping it.
I might be part chicken-little as I believe my current predicament is a precursor to a more serious problem:
Everyone has become fatigued to high prices and no one is wanting to pay for them anymore.
There I said it. Now flame away...