this post was submitted on 07 Apr 2025
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[–] essell@lemmy.world 27 points 2 weeks ago (2 children)

Buying 2nd hand reduces demand for new goods, which reduces prices in the broad sense.

[–] BossDj@lemm.ee 52 points 2 weeks ago (3 children)

That's not what happened when demand for used cars skyrocketed a few years ago

[–] Voyajer@lemmy.world 37 points 2 weeks ago (2 children)

Demand for new vehicles didn't drop, supply for new vehicles stopped.

[–] Sauerkraut@discuss.tchncs.de 29 points 2 weeks ago (1 children)

Also, demand for cars can't drop because Americans don't have basic freedoms like access to quality public transit, walkable cities, or infrastructure to protect bikes from car drivers who watch movies on their phones while they drive

[–] dalekcaan@lemm.ee 13 points 2 weeks ago (1 children)

Yup, the US has managed to turn cars from a luxury item to what's essentially a necessary good.

[–] reallykindasorta@slrpnk.net 5 points 2 weeks ago (2 children)

People with cars a couple years old were being asked to trade for a new one just to bolster used inventory. Don’t understand the economics but I know two people who traded their 3ish year old cars for brand new ones (and a little cash on top) at the behest of the dealer during that time.

[–] doingthestuff@lemy.lol 4 points 2 weeks ago

I bought right after the lockdown. Six months later I was being offered more for my car used than I paid for it new. I'm still driving it, and it's been paid off for quite awhile, three year loan.

[–] WhiteOakBayou@lemmy.world 3 points 2 weeks ago

I don't know the economics either but I bought a used truck in Dec 20 and after 6months or a year the dealer started calling me every month or so with an offer to buy it back at more than I bought it for. It was really crazy.

My parents bought a their car when their lease was up then sold it back for a profit around the same time. Just to add to the anecdotes.

[–] ArsonButCute@lemmy.dbzer0.com 4 points 2 weeks ago

You mean when carvana started overpaying for used cars to build inventory to test their product and inadvertently crashed the used car market (from a buyers perspective)?

[–] essell@lemmy.world 1 points 2 weeks ago

How complicated economics is!

[–] Kecessa@sh.itjust.works 7 points 2 weeks ago (1 children)

But increases demand for used goods means the price increases for them, which means the deal isn't as good so buying new becomes more interesting...

[–] essell@lemmy.world 3 points 2 weeks ago (1 children)

I think we just invented economics

[–] Kecessa@sh.itjust.works 0 points 2 weeks ago (1 children)

And we just realized how silly it is!

[–] RowRowRowYourBot@sh.itjust.works 2 points 2 weeks ago (1 children)

Only those that are uneducated in the miserable science think it is silly.

[–] Kecessa@sh.itjust.works -3 points 2 weeks ago (1 children)

There's alternatives to the capitalist system that leads to the situation we're in right now.

[–] RowRowRowYourBot@sh.itjust.works 6 points 2 weeks ago (1 children)

And those systems use economists too. There are whole economic departments in universities in socialist economies studying economics. The science does not change just because the system you use to allocate goods changes.

[–] Beastimus@slrpnk.net 2 points 2 weeks ago

Yeah, I think a lot of people don't realize this. I say as I wait for my econ 101 class to start.