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re: I paid $40k for my truck last year, it’s now worth $18k

Posted on 1/1/23 at 7:36 pm to
Posted by go ta hell ole miss
Member since Jan 2007
14676 posts
Posted on 1/1/23 at 7:36 pm to
quote:

When exactly are these dealerships going to start this hurting? I've been hearing for six months that the car industry was going to crash and prices would fall off a cliff. Still not close to happening.


By the end of 2023. Sales staffs will be cut between 15-33%.
Posted by yellowfin
Coastal Bar
Member since May 2006
98953 posts
Posted on 1/1/23 at 7:38 pm to
I remember last time I was SUV shopping the Infinity QX 80 was the worst that I saw
Posted by jnethe1
Pearland
Member since Dec 2012
17854 posts
Posted on 1/1/23 at 7:42 pm to
Lmao
Posted by Strannix
C.S.A.
Member since Dec 2012
53727 posts
Posted on 1/1/23 at 7:54 pm to
I wonder what percent of the OT plant baws wives drive 90k dollar suburbans financed for 84 months.

Seems I have hit a nerve
Posted by HarrisonTown
Member since Nov 2019
630 posts
Posted on 1/1/23 at 8:03 pm to
sucks to be you
Posted by YNWA
Member since Nov 2015
7233 posts
Posted on 1/1/23 at 8:05 pm to
quote:

who pays 40k for a used vehicle?


Apparently you haven't looked at used car prices the past couple years. Dealers couldn't get new cars because of supply chain issues with chips, among other things. Dealerships have been selling used cars for way over KBB prices.
So now prices are coming down but people are stuck with cars that, if they want to sell, are going to lose a lot of money.

Housing market is going to go through the same thing. Houses where way overvalued. No if anyone is looking to sell a house they bought in the past two years they are going to lose a lot of money.
Posted by armsdealer
Member since Feb 2016
12297 posts
Posted on 1/1/23 at 8:07 pm to
quote:

Housing market is going to go through the same thing. Houses where way overvalued. No if anyone is looking to sell a house they bought in the past two years they are going to lose a lot of money.


Careful, you are hitting the nerve of the OT baller right now.
Posted by Strannix
C.S.A.
Member since Dec 2012
53727 posts
Posted on 1/1/23 at 8:09 pm to
quote:

Dealers couldn't get new cars because of supply chain issues with chips, among other things. Dealerships have been selling used cars for way over KBB prices.
So now prices are coming down but people are stuck with cars that, if they want to sell, are going to lose a lot of money.



You're an idiot if you bought a car in the last couple of years unless you had ZERO other options, or you're a baller and can pay cash and it is meaningless to you
Posted by gsvar2004
Member since Nov 2007
8869 posts
Posted on 1/1/23 at 8:12 pm to
They only want to give me 21 for my 18 wrangler unlimited. Had to work them hard to get a 24k offer but I turned that down. I’ll keep it or sell it privately
Posted by notiger1997
Metairie
Member since May 2009
61723 posts
Posted on 1/1/23 at 8:12 pm to
quote:

Strannix


Nobody cares what you think
Posted by yellowfin
Coastal Bar
Member since May 2006
98953 posts
Posted on 1/1/23 at 8:13 pm to
quote:

Housing market is going to go through the same thing. Houses where way overvalued. No if anyone is looking to sell a house they bought in the past two years they are going to lose a lot of money.


Yeah I bought my house in 2017 and planned to upgrade in 2023 but with interest rates I’m staying put
Posted by LSUGrad9295
Baton Rouge
Member since May 2007
37931 posts
Posted on 1/1/23 at 8:25 pm to
quote:

Put your wife on only fans to recoup the 20k. Should take a few months if she’s ok with PIIHB action


Posted by PhiTiger1764
Lurker since Aug 2003
Member since Oct 2009
14586 posts
Posted on 1/1/23 at 8:33 pm to
quote:

I paid 48k for my truck 4 years ago its worth 55 now

No it’s not. Probably was earlier this year. It’s not now.
Posted by bhtigerfan
Baton Rouge
Member since Sep 2008
33618 posts
Posted on 1/1/23 at 8:37 pm to
quote:

I paid 48k for my truck 4 years ago its worth 55 now
bullshite.

Does it have zero miles? What kind of 4 year old truck is worth $7k more than new?
Posted by highcotton2
Alabama
Member since Feb 2010
10525 posts
Posted on 1/1/23 at 8:40 pm to
quote:

You bought the vehicle with the worst resale value in the industry at the highest used car prices in history.




Posted by Nado Jenkins83
Land of the Free
Member since Nov 2012
66102 posts
Posted on 1/1/23 at 8:44 pm to
Sell it to whistlindiesel so we can watch him destroy it. Only idea I can come up with
Posted by supadave3
Houston, TX
Member since Dec 2005
32174 posts
Posted on 1/1/23 at 8:45 pm to
quote:

I've been hearing for six months that the car industry was going to crash and prices would fall off a cliff. Still not close to happening.
Wish it would, but that's not the reality yet.



The lack of new cars on the lots has completely changed the experience. There are only 30 cars max on most of the dealerships Lots. The CarMax and Auto-Nation type Lots are over flowing with cars.
Posted by rpg37
Ocean Springs, MS
Member since Sep 2008
54583 posts
Posted on 1/1/23 at 8:50 pm to
This does not seem right unless you either overpaid last year or this is a low ball error. I just went on KBB. I sold my Camry last year for $17,500 and the KBB report for the same specs now are about 12-15% lower across the board (except now one year older). It should not have dropped that much.
Posted by Crimson1st
Birmingham, AL
Member since Nov 2010
21120 posts
Posted on 1/1/23 at 9:00 pm to
quote:

Put your wife on only fans to recoup the 20k


This is bad advice…we need pics before we advise this!
Posted by Flashback
reading the chicken bones
Member since Apr 2008
8479 posts
Posted on 1/1/23 at 9:09 pm to
You didnt give important details like mileage and year, dummy.

I bought a v6 08 Camry with 140k miles this summer for 5k, lol. I love that car. I knew the previous owner and they babied it. frick a car note and frickalookatme ride with a note that I dont need.

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