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re: There has to be a correction in the housing and vehicle market at some point, right?
Posted on 7/11/23 at 9:42 pm to RedHawk
Posted on 7/11/23 at 9:42 pm to RedHawk
quote:
I'll be driving my paid off 2016 with 110,000 miles for at least five more years. Hopefully by then, some of this insanity will have stopped, but I doubt it will.
Seems like we've been saying "next year" for a few years now.
1
Posted on 7/11/23 at 9:51 pm to RoosterCogburn585
Posted on 7/11/23 at 9:53 pm to shutterspeed
Yea, about 3 to be exact.
It's on the horizon now though. Inventory is starting to build pretty quickly. Incentives are a thing again. It's started swinging back.
It's on the horizon now though. Inventory is starting to build pretty quickly. Incentives are a thing again. It's started swinging back.
Posted on 7/11/23 at 10:14 pm to The Eric
quote:I bought my 2014 F150 for $35k. Crew cab XLT, Ecoboost engine, 4x4 Off-road package, HID headlights. Sticker price was $46k and they knocked $11k off sticker and put leather seats in it.
My 2016 F150 would have cost me like 20k more than it did then
Same truck today is $65k sticker and you’re lucky if they knock $3k off.
This post was edited on 7/11/23 at 10:22 pm
Posted on 7/11/23 at 11:38 pm to bhtigerfan
quote:
I bought my 2014 F150 for $35k. Crew cab XLT, Ecoboost engine, 4x4 Off-road package, HID headlights. Sticker price was $46k and they knocked $11k off sticker and put leather seats in it. Same truck today is $65k sticker and you’re lucky if they knock $3k off.
I paid right at 30k for a used F150 in 2018 - it had under 10k miles and was in overall great shape. In 2021, the dealership sent me an unsolicited offer of $36k to buy it back.
They were essentially, blindly offering $6k more than I paid for a vehicle I’d driven for almost 3 full years. This was at the height of the chip shortage stuff, so I guess I get the desperation - but I can only imagine what they’d have marked up the price to once it was on the lot.
I passed on the inquiry and don’t regret it. I have a paid-off truck with under 60k miles and I’m planning to drive that sucker until the wheels fall off (and maybe a little after that.
)
Posted on 7/12/23 at 12:58 am to lsuCJ5
quote:
i saw a girl on marketplace advertising a 2022 Z71 tahoe with 23,000 miles for $78,000. Her description said all she was trying to do is break even and walk away from it, but the extended warranties would be extra. I do not fell sorry for her, she signed up for that craziness.
A guy is trying to sell his 2017 Sierra dually Duramax with 170k for $49k on my FB feed. Not a Denali. Says he has a new one coming.
My thinking is "trade it in buddy" but maybe someone will pay that for a 7 year old truck on it's way to 200k miles.
Posted on 7/12/23 at 1:04 am to tiggerthetooth
Like the new penalty for good credit borrowers. How was that even passed.
Posted on 7/12/23 at 2:41 am to RoosterCogburn585
I sure lucked out on both. Bought a new Camry in the summer of 2019 and then my house about a year later (2.68% interest rate on the latter).
Posted on 7/12/23 at 3:04 am to RoosterCogburn585
quote:
These prices and interest rates are going to have to start breaking people at some point huh?
I don’t know but it’s starting to affect everything in my life. It’s quite depressing not being able to ever save because of all the rates going through the roof.
Posted on 7/12/23 at 3:33 am to StringedInstruments
quote:
quote: finally broke and bought a 4 year old used Corolla with 38,000 miles for $18,000. What’s sad is that I look at that as a good deal nowadays. I tried the wait game and ended up with a 2019 Honda Civic with 6k miles for $23k. That was August 2022.
Toyota have always had very strong resale compared to the rest of the market. People aren’tafraid to drive Corrola’s 300,000 . They have confidence in the drive train and traditionally don’t have a lot of “extra gizmos “ to break as it gets older.
And as for Tacoma’s they were bringing mid 20,000’s for 100,000 mile trucks well before the pandemic. Cheap trucks have gone the way of the cast cassette tape, CD player and marriage before conception
This post was edited on 7/14/23 at 12:18 am
Posted on 7/12/23 at 8:22 am to HooDooWitch
I follow the guy on Twitter called @carddealershipguy, he posted this the other day
"Alright this is big news.
Used car prices fell 4.2% in June.
The second largest monthly decline in history."
"Alright this is big news.
Used car prices fell 4.2% in June.
The second largest monthly decline in history."
Posted on 7/12/23 at 8:26 am to Jimbojambojumbo
quote:
the height of the chip shortage stuff
So whatever happened to those thousands of vehicles sitting in storage? I assume they were finally sold as last year‘s model when the chips finally came in?
Posted on 7/12/23 at 9:01 am to DownshiftAndFloorIt
quote:
s on the horizon now though. Inventory is starting to build pretty quickly. Incentives are a thing again. It's started swinging back.
starting to see that here too....my buddy at the dealership said prices will start dropping when people stop buying. I told him they trick people into buying $100k fords because they finance them so far out and the note is about the same.
Posted on 7/12/23 at 9:12 am to RoosterCogburn585
It may very well be that what we are seeing in the housing market is the correction. Home values and the labor associated with building/replacing them may have been undervalued for a long time
Posted on 7/12/23 at 12:12 pm to sidewalkside
Covid and social media broke yalls brains.
I was like this since way before social media. My political perspective has been firmly in place since about 1986.
I was like this since way before social media. My political perspective has been firmly in place since about 1986.
Posted on 7/12/23 at 12:15 pm to RedHawk
quote:
Wow! RWNJ's are out in force.
Badge of honor.
And I prefer Mega-MAGA to ultra MAGA. I wish the media would use that name. It’s more catchy.
Posted on 7/12/23 at 12:58 pm to RoosterCogburn585
quote:
These prices and interest rates are going to have to start breaking people at some point huh?
What needs to be corrected? As long as home builders/sellers and car manufacturers/dealers can sell enough to keep making money, why would they change their prices?
Posted on 9/8/23 at 8:23 am to BestBanker
Amazing how many people know nothing. Let's me ask banker man.... what happens when those same people who has a 2-3% intrest locked. Can not afford there mortgages bc of inflation...... people are selling and Blackrock is grabbing.
Posted on 9/8/23 at 9:43 am to notiger1997
quote:
We’ve been slowly looking for a few months for my kid something. Was thinking a truck in the $14-15k range but that market is a damn fine joke.
As I mentioned in another thread, get a classic that's been kept up or redone. You'll feel insane paying 13k for a 30 year old vehicle, but they're easy to maintain and can be made to look awesome. Bought a 89 ranger lifted that looks cool to my 15 year old and his buddies, and every damn person I park next to. I cracked a taillight and it cost 15 bucks to replace.
Posted on 9/8/23 at 9:47 am to RoosterCogburn585
quote:
These prices and interest rates are going to have to start breaking people at some point huh?
Who cares about people? Big financial institutions are buying the houses now. The people will own nothing.
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