Glut of used cars ?

[jnsnwt]

Due to the recent months of "employee pricing" sales by all the major auto makers is there an over abundance of used cars ? Which means the price of used cars has dropped sigificantly ?

The reason I asked is the company I work for has offered to sell an '02
XLS Explorer w/126 miles to me for $4800 +TTL.

KBB and NADA both say it's worth over $9K.

Are there really that many used X's out there that the price has fallen by half ? Or have I missed the turn somewhere ?

 

[Brian_B]

....

The reason I asked is the company I work for has offered to sell an '02
XLS Explorer w/126 miles to me for $4800 +TTL.
......?

Do you mean 126,000 miles? Gas prices have as much to do with perceived value than anything else right now (IMHO). Don't know anything about the sales and sich. There are a lot of members here buying cheap (on gas) cars.

EDIT: Just though I should add - 126,000 miles is pretty high for an 02. Isnt average about 12-14K a year? Note: not everage for me. High mileage drops the value fast.

 

[aldive]

Also there are a bunch of "used vehicles" from LA , MS and TX out there now.

 

[jnsnwt]

Brian B , you are correct I did mean 126,000 miles not 126

ALDIVE, nope, this is not a flood surplus special. This one has been here where I work since day one. I know how the fellow that drove it is about maintaining his equipment . That's the reason I was interested. I figure it's the pick of the litter.

 

[aldive]

Sounds like a hell of a deal then.

Good luck ...........

 

[jnsnwt]

That's what has me worried.
If it sounds too good to be true ...

 

[trucku]

get it scanned and make sure nothing is wrong. my 02 xls needed a the torque on demand module at 50k miles. maybe that vehicle has had it changed already..or doesn't have a problem. Just make sure..test the 4x4. Cruise control took a dive at 55k miles...

maybe my truck is cursed..

Good Luck.