Yes, if well maintained and similar purchase miles, it's quite likely it's increased by 10-50% in value.

Why?

Scarcity. Supply chain problems/disruptions especially for microchips hitting the globe.

Inflation. 20%-25% of all dollars in circulation were printed in the last 15 months. We are in a period of extraordinary inflation. Lumber, precious metals, building materials, ammunition, guns, cars and car parts, housing, land, food, gas.. you name it.

So the "deal" you are getting isn't as good as you think b/c many things you buy with your deflated money will cost much more.

But good luck to you!

 

Yeah give it a year or 2 and that extra money wont be there anymore

 

It's also possible that you will win the lottery next week...

 

Given the current car market -- new and used -- it is possible your car's value has gone up. A number of owners have reported receiving attractive offers for their used cars and some have taken advantage of the offers.

If you need to get rid of the cars now's the time.

However, when you come back to your home base then you would be car-less and could face having to replace one or both vehicles in a seller's market.

Not sure why you can't just leave the cars stored at your main residence to have them available when you return?

 

I retired in 2016 and since then we have moved every 1 to 2 years. We lease and this lease in Florida is up next May. We are looking at 6 mo in Italy and then finding the next place. So my options are limited to a storage facility big enough for two large vehicles or 2 separate ones. That would run around $300 a month. Its not out of the question, I'm just looking at all my options including downsizing to one vehicle. Challenger vs 2017 BMW X5. It would be a hard row to hoe convincing my wife getting rid of the BMW over the Challenger for our sole car is the best decision.

 

Yeah, prices are going to get back to normal around late summer into fall. One of the plans on the table (if they can get the infrastructure deal through the naysayers in the Senate) is to open microchip manufacturing facilities here in the U.S. That would cut our dependence on foreign suppliers. But even if they passed it today, it would take time to get them built here.

 

The chip "shortage" is being used to sell the "infrastructure" aspect of the bill.

The chip shortage arose not from an lack of sufficient chip production but in part by auto companies when they came up with what proved to be wrong forecasts for their new cars and dialed back on chip orders.

In some cases chip foundries were closed down due to virus concerns.

The forecast proved to be wrong -- after a brief dip in demand demand for new cars surged -- and the wrong forecast coupled with the chip foundries shut down due to the virus concerns is the reason for the chip "shortage" now.

With the foundries operating out of lock down cut backs there is or will be sufficient production capacity to meet the demand.

 

I have about 3 things that have probably held there value or maybe gone up, a car trailer, a 2017 F150, and a small John Deere tractor, a 2025r. The problem is if sold them, I’d need to buy them again.

If you don’t want the car anymore, good time to sell, but are you going to regret it?

 

All used car prices are going crazy. Not just Challengers.

 

I agree with DodgeNovice - I think it is more about scarcity of cars at the moment. I purchased my 2018 - similar car to yours - with only 3300 miles and paid less than you did so I’m not so sure you got a great deal. But not a bad one if the car makes you happy! Yes, storage is a pain. Around $120 per month here...be sure to ask your insurance agent for storage insurance when it will not be driven for 3 months or longer. Here it only costs about $20 per month because they know nothing will happen to it. But you’re covered for natural disaster and theft. Enjoy your retirement and globe trotting!

 

I looked again sticker was a little over $54K. Every option/group/package except painted calipers. In my neck of the woods, $17K off sticker with a little over 2,000 miles is in the "great deal" category. I looked at 392, lower prices but didn't have the options I wanted.

 

Something to keep in mind, as we glorify the value of our used cars increasing, we need to temper that with inflation neutralizing that value.
It's a bit like real estate. You can sell low and buy low or sell high and buy high, but you almost never sell high and buy low.

 

Only if you rent until the bubble bursts. That's the plan, sell, rent and pray for a total market collapse a couple months after you sell (so you don't make your landlord rich).

 

Used car market is stupid high right now. Put it on Carvana, Vroom, Carmax and see what they will give you. They will bring a tow and a check. If you are selling now is the time.

 

My step son is in the car business and told me about Vroom. He has sold a few cars to them and they paid very competitive prices. Vroom offered me $43800. Carvana was $40000. I was told to get the quote and wait a day and they may up the Vroom offer $500. Talked it over with the wife and I think I'm going to take the offer and buy something around the $5000 range with some potential equity in it so that when I sell it in a year I won't lose money or very little.

 

I took the $43800 offer. I found a car for $5K that in a year I can sell for 5K+.. Vroom was the buyer. Yes it was the best late model car I have ever owned I will miss it. But I'm a practical guy and can move on. But that car, along with my Smokey and the bandit 79, and 1 of 1000 Starsky and Hutch Gran Torino's will be talked about around the campfire for years to come.