Do Not Buy A Used car!!!!!

[HoosierDaddy]

So.. mine may be gone. 26.4K he’s getting his approval done today, we meet tomorrow for him to drive around etc. he is pretty psyched about it.

said mine is the best one he sees in the price range by far.

he gave no crap about mods, just a daily to him. He said he may flash it back to stock though so he can use 87 lol

Not a good sign. 87 is bad news for any turbo, even stock.

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[FreePenguin]

Not a good sign. 87 is bad news for any turbo, even stock.

no big deal. All I know is car runs great as it is, what he does is his business but I would hope he takes care of it. I got to own a dream car for awhile, was my firstsports car. Got the experience and everything.

got photos, learned a ton too

 

[S550 HPP]

. Last year was a good time to buy during the first few months of the covid shutdown.

Yep, I ordered my HPP in early February, 2020 and took delivery in May. Got it at invoice with 0% interest from Ford. I don't think in April, 2020 the dealer had sold any cars, maybe a few trucks. The lot was jammed with product.

I remember posting here that I paid invoice, but a lot of comments last summer were "Oh, you can get a 2020 at X% under invoice with no problem. Never pay invoice."

My HPP came to the dealer on March 17, 2020 and each week the dealer called to say it was ready to pick up. I told them the same thing each week: "I want the Mustang. But I am not coming down to get it until I feel comfortable going out in public with Covid spreading everywhere. I do understand you have to make money, so if you have another buyer interested in my Mustang, give me back my $1000 deposit and you can sell it with no hurt feelings."

The dealer's response was always the same: "Oh, no, no, no, no . . . the car is YOURS. Whenever you feel right about coming to get it, we're ready."

So yes, things change. May, 2020 the buyer was king. July, 2020 the dealer will be happy to show you the last base Mustang with cloth seats on the lot with a criminal ADM.

 

[FreePenguin]

It’s looking more like it is the right time to buy a used car.

I expect people to say “Yep 2021 was a good time to buy a car” this time in 2022.

inflation you referring too? I hope prices dont continue to climb. ie. dollar becomes less, and our 25k cars this year become 30k cars next year

 

[FreePenguin]

In my area, the housing market hasn't slowed down a bit, prices are still soaring, with prices expected to keep rising. Cars aren't the same type of sale/purchase but there has to be some kind of parallel to each other.

 

[Hack]

It’s looking more like it is the right time to buy a used car.

I expect people to say “Yep 2021 was a good time to buy a car” this time in 2022.

If we really get high long term inflation you're better off buying something bigger like a house, or saving your money for when you need $100 to buy a loaf of bread. It's never a money smart time to buy a depreciating asset. Yes there has been a short term bubble, but it won't last.

 

[oneheadlite]

...well, I think it was a good deal for me that used car prices are up.
I freely admit I made a mistake on buying or trading my '17 Mustang GT
for the Challenger.
It is/was an ok car, just not for me.
@ $50,000+ and marked down to $43 and a few dollars, I got $5G's more
than I gave for it, so I'm not hurt.
Helped me out of a car that I didn't like and I lost no money; win/win.

I'm happy with the '21 Mustang, even though I'm not that crazy
about the body style.
...happy, especially since it is a manual.......................

 

[Hack]

Much of the housing market is being purchased by asset managers for rental purposes. It’s a self feeding cycle. The more it grows the higher demand. Even if consumers can no longer purchase, the asset managers have the money and smarts to understand what value looks like. A large asset manager was recently asked what the cheapest asset in the us was - he said farmland.



I agree but that's not really what we are talking about. We are talking about if it’s a good time to buy a car. 3 months ago I would have said no but now I am not so sure. Prices are stabilizing but input cost are absolutely soaring on the new side. I fully expect a base 5.0 to be +40k by 2023.

My economics teacher always said ‘Inflation is terrible but (asset)deflation kills’. Don’t expect this bubble to pop. The path forward is set and printing will never stop. I also expect another round of stimulus this year.

In an inflationary environment anything that can’t be printed goes up in value.

Yes renting is a great way to go if you're handy and have the time for it. As long as you don't have to deal with price controls, you can evict non-paying tenants and you're allowed to take depreciation, etc. I wouldn't bet my money on those things holding true with the current climate we are in. So I'm not as certain as you about the future of the housing market.

Maybe it's a good time to buy a car if you really need one. But I wouldn't buy just to scratch a slight itch. I guess that's what I'm saying. I agree with you new prices may continue to increase.

However, I don't care how much a new car costs if the manufacturers aren't making something I want A LOT more than what I already have. I think cars are on the downhill swing. Basically it's like we are at 1971 or 1972 again. It's just a little bit slower of a decline than we had in the 70s. They just stopped making the best cars. I hope we don't have to wait 30 years or that great cars never come back. I don't really want another 5.0 GT with a handful more HP at a great additional expense. Maybe if they offer a 6.0 GT with port injection, better manual gear ratios and go back to sleeves in the engine block (in other words a drivetrain that is quite a bit better) then I might be tempted. But I doubt that will happen. NONE of it will probably happen.

 

[br_an]

...happy, especially since it is a manual.......................

Blessed be the Manual

 

[shogun32]

I fully expect a base 5.0 to be +40k by 2023.

Washington will be burning before then. Hell some "stupid shit" led to burnings and rioting last year.

Nobody is getting paid enough to afford that "new" price so sales will be ~0. If we have Zimbabwe and Venuezuela run-away inflation in 2 years most of the 535 folks in the capital will be either dead or hiding underground.

In an inflationary environment anything that can’t be printed goes up in value.

no, the value is the same. "price" as expressed in terms of a rapidly becoming worthless currency, goes up. Not the same thing.

 

[LSchicago]

It’s looking more like it is the right time to buy a used car.

I expect people to say “Yep 2021 was a good time to buy a car” this time in 2022.

In my area, the housing market hasn't slowed down a bit, prices are still soaring, with prices expected to keep rising. Cars aren't the same type of sale/purchase but there has to be some kind of parallel to each other.

Car prices are already starting to drop. As the chip shortage goes away, they will drop even quicker in the next 6 months to a year.

The housing market is predicted to still rise for the next year, but since wholesale lumber prices already dropped about 50% since May, it may flatten out sooner.

 

[ice445]

Washington will be burning before then. Hell some "stupid shit" led to burnings and rioting last year.

Nobody is getting paid enough to afford that "new" price so sales will be ~0. If we have Zimbabwe and Venuezuela run-away inflation in 2 years most of the 535 folks in the capital will be either dead or hiding underground.


no, the value is the same. "price" as expressed in terms of a rapidly becoming worthless currency, goes up. Not the same thing.

The USD isn't collapsing in value any time soon. The only reason for this is that it's still the world reserve currency, and every time it seems like it will stop being so, some other trick thing happens. Printing dickloads of money doesn't have much of a penalty if some random bank across the world will gladly hoard it. Covid actually increased the amount of US reserve holdings around the world too for some reason, at least last I saw.

 

[Bikeman315]

Just in case you “have” to buy a Mustang, my Volvo dealer just took in a very clean 2020 EB HPP. Base model with 101a M6.

https://www.beachvolvocars.com/all-...teType=used&make=Ford&model=Mustang&year=2020

A few pics I took the day it was traded in. Mileage is under 7k. Seems like the wife didn’t like the M6.

 

[compprep]

What about a new truck? Say a leftover 2020 Ranger Lariat? Dealer got it last Nov!!!!

Should I except any discount as it's a 4x2 in northern NY where almost EVERYONE wants 4x4 or AWD. I don't need a new/different vehicle, just thinking had my Volvo 8 yrs now, time for something different, and I really want to sit higher up, especially at night (in winter!)

 

[Geosh]

Local dealer has an orange 2021 PP1 with a manual and 301a package for like $6k under sticker. actually surprised they were selling at a discount, because they have a used green 2020 PP2 premium with 6k miles for $52k!

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