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Dang was hoping to wait out the high car market
Posted on 7/23/22 at 9:29 am
Posted on 7/23/22 at 9:29 am
Does anyone have any insights to when the new/used truck market will relax on these high prices?
17
Posted on 7/23/22 at 10:13 am to BengalBlood81
Who knows. I think it’ll be a quick fallout though, it won’t be a gradual thing.
Posted on 7/23/22 at 10:21 am to BengalBlood81
BMW dealership where I am has very few cars on the lot. Asked a guy who works there when they will have inventory again. He said they are looking at a year at least.
Posted on 7/23/22 at 10:58 am to BengalBlood81
End of 2024, the first of the tsm plants is gonna start producing something I believe. So my answer every time this thread has popped up in the last 2 years is 2025 
Posted on 7/23/22 at 11:15 am to BengalBlood81
They likely won’t ramp up to full pre pandemic production so they can maintain prices.
Posted on 7/23/22 at 12:48 pm to Big Jim Slade
(no message)
This post was edited on 1/6/23 at 10:11 pm
Posted on 7/23/22 at 12:58 pm to BengalBlood81
Inflation baw
Posted on 7/23/22 at 1:03 pm to BengalBlood81
quote:
Does anyone have any insights to when the new/used truck market will relax on these high prices?
Soon. Repos are way up. Google for articles.
Posted on 7/23/22 at 1:38 pm to Big Jim Slade
quote:
They likely won’t ramp up to full pre pandemic production so they can maintain prices.
I would think any company would want to sell more vehicles if they had the chance. Maybe they wouldn’t get as much mark up, but volume would make up for it.
More cars sold also means more extended warranties sold as well as more cars to finance through dealers/their financial institutions
This post was edited on 7/23/22 at 3:19 pm
Posted on 7/23/22 at 3:15 pm to Gabapentin
The problem is the non-running ones are 5,000 and need $25,000 worth of work.lol
Posted on 7/23/22 at 9:03 pm to BengalBlood81
whenever we get a New President
Posted on 7/23/22 at 9:49 pm to BengalBlood81
You won’t have much longer to wait …
quote:
Just like how the housing market collapsed from the loan crisis in 2008, the same thing is said to be starting to happen in the Auto Loan market.
As the supply chain and chip crisis has improved from COVID times, used car prices have dropped for 4 consecutive months & are now down 6.4% since January.
This is a nightmare for the banks that have lent money on these cars, whose value is rapidly beginning to fall.
quote:
Just recently, Equifax reported that 8.5% of subprime borrowers defaulted on their car loans - the second-highest on record!
WSJ also found that more subprime borrowers have started missing out on payments as rising inflation made them choose between essentials & auto loans.
quote:
KPMG predicts that used car prices can drop 30% as more supplies hit the market and Ally Financial predicts a 20% drop.
The timing is a bit uncertain but it looks like it's going to unravel in the next 12-18 months.
($1 to WPBtiger)
quote:
Just like how the housing market collapsed from the loan crisis in 2008, the same thing is said to be starting to happen in the Auto Loan market.
As the supply chain and chip crisis has improved from COVID times, used car prices have dropped for 4 consecutive months & are now down 6.4% since January.
This is a nightmare for the banks that have lent money on these cars, whose value is rapidly beginning to fall.
quote:
Just recently, Equifax reported that 8.5% of subprime borrowers defaulted on their car loans - the second-highest on record!
WSJ also found that more subprime borrowers have started missing out on payments as rising inflation made them choose between essentials & auto loans.
quote:
KPMG predicts that used car prices can drop 30% as more supplies hit the market and Ally Financial predicts a 20% drop.
The timing is a bit uncertain but it looks like it's going to unravel in the next 12-18 months.
($1 to WPBtiger)
This post was edited on 7/23/22 at 9:51 pm
Posted on 7/23/22 at 10:35 pm to notiger1997
quote:
I would think any company would want to sell more vehicles if they had the chance.
Businesses are almost always more profitable selling less at a higher margin. It is a fine line, but if you are selling out of everything you make then you are priced too low. It is more profitable to be priced slightly high than to be priced low at all. I don't think current prices are sustainable but you better bet car companies are trying to figure out how to keep them as high as possible and not having to bundle on thousands in incentives to move vehicles.
Posted on 7/24/22 at 2:30 am to BengalBlood81
Salesman told me a month ago the way you shop for cars has changed forever this is the new normal
Posted on 7/24/22 at 5:32 am to BengalBlood81
I just paid sticker price for a new vehicle for the first time in my life; hurt my pride.
Posted on 7/24/22 at 6:10 am to Hamma1122
quote:
Salesman told me a month ago the way you shop for cars has changed forever this is the new normal
Posted on 7/24/22 at 6:23 am to Hamma1122
quote:
Salesman told me a month ago the way you shop for cars has changed forever this is the new normal
I'm sure he did
Posted on 7/24/22 at 9:01 am to Hamma1122
quote:
Salesman told me a month ago the way you shop for cars has changed forever this is the new normal
They want to believe this. They would be the last people to know.
Reminds me of the mortgage brokers from the Big Short.
Posted on 7/24/22 at 9:41 am to SlowFlowPro
Salesmen are like, don’t wait it’s not going back just pay the extra 20k today……2 years from now same salesmen will be sitting a joking about how many people they took advantage of
Posted on 7/24/22 at 2:51 pm to tigerbacon
quote:
Soon. Repos are way up. Google for articles.
This is true, cut through the Nissan lot in Monroe last weekend and they had three cars on the back lot with Repo and a last name wrote on them
quote:
2 years from now same salesmen will be sitting a joking about how many people they took advantage of
As they beg anyone that comes on the lot to at least take a test drive. These dudes are eventually gonna get smoked.
This post was edited on 7/24/22 at 2:54 pm
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