Absurdity of Used Car Markets

There are a handful of publicly traded used car middlemen companies that are massively distorting the used car/truck market. It's especially noticeable in the used truck market. People are posting 20+ year old trucks on craigslist with 200,000+ miles for $10,000 or more. It's absurd.

The public companies are buying up all the used car inventory with funny money, then selling it on with another pile of funny money debt that they pass off to some poor dupe. They're just middlemen with access to the wall street money spigot.

The combined market cap of Carvana and CarMaxx exceeds Ford. Ford has billions of dollars of industrial assets, patents, a huge engineering staff, etc... Carvana and CarMaxx have some parking lots and sales buildings.

If they "own" the used car market, that means they just have a pile of used cars and an even bigger pile of indebted customers. Gross.