Do Not Buy A Used car!!!!!

[br_an]

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.

It's a manual. "Auto Man" need not apply

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[13GetThere]

Stopped by my dealer today. Their shop is slammed. I can't get in til next Wednesday for an oil change and possible warranty work.
They only had 4 new vehicles on the lot, and the used vehicles were spread out to look like they had inventory.
I talked to one of my salesmen, and he said he was having to beat the bushes for business. They are getting in a Mach 1 HP, and a GT 500 next week. The 500 is sold already ($105,000), and the Mach 1 is $80,000, $30,000 over sticker.
The only thing that caught my eye was a 2015 F250 Lariat 4x4, with 80,000 miles, for $40,000. Good thing I'm not desperate for a truck yet.

 

[Hack]

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.

Things were fine in 2019. Actually great. I'd like to see that chart rescaled to fit what happened in the last 8 months.

 

[shogun32]

I'd like to see that chart rescaled to fit what happened in the last 8 months.

I don't have a chart but my Mustang GT/PP1's MSRP in 2019 is now:
$40,400 in 2019 is equivalent in purchasing power to about $42,934.47 today,

Per build-n-price it's now $44,000. If we add the $1000 Ford jammed into the price via including Safe+Smart then it's right on target. But bear in mind the PP1 price got JACKED HARD in 2020 and 2021 to the tune of 25% per annum.

For a 300A base GT 36.4 -> 37,500 whereas inflation metrics would suggest 38,700.

So if you buy a base GT you are paying a LOT below inflation target, let alone getting S&S for "free". Also Ford is offering $1500 rebates right now for placing an order.

 

[bnightstar]

Let me tell you guys a different chip shortage story. In November 2020 a new game console named the Playstation 5 got released however we know that there was going to be chip shortage and not sure if a console will be made with that in mind sellers pre-orders started in September 2020 wanting the whole price up front. I manage to enter the pre-order which even in my poor country average salary per month is less than a new PS5 was sold out in 2 hours. So comes November and I got lucky my console got made. However PS5 was sold out worldwide and chip shortage made PS5 production very hard. And demand was through the roof. Fast forward to now there are still people waiting for prices to go down (used PS5's like mine are selling for 50% over MSRP) but even when a little restock is send to sellers they want to sell the PS5 only with second controller, 2 games etc (dealer ADM). Sony say that this chip shortage issue will continue well into 2022. With that in mind new cars shortage is starting to hit dealerships in Europe as well. I was on a test drive of the new EU Mach 1 last weekend and then the dealership called me to say that out of the 11 Mach 1's they ordered only 3 had VIN's with build dates around 19 of April and they will maybe be made in October. Dealer said that because they are lacking inventory there is no way in hell they are selling there only 1 test Mach 1. Also this is the last MY when Europe can order S550 cars :(. But this wasn't the crazy part the crazy part was that my dealer told me that they have shortages on Fiesta's and other cheap fords as well and production delays. So don't expect this to be solved soon ... and with inflation going up (gas prices are up 30% in 2 months) I don't see our cars ever failing in price.

 

[Hack]

I don't have a chart but my Mustang GT/PP1's MSRP in 2019 is now:
$40,400 in 2019 is equivalent in purchasing power to about $42,934.47 today,

Per build-n-price it's now $44,000. If we add the $1000 Ford jammed into the price via including Safe+Smart then it's right on target. But bear in mind the PP1 price got JACKED HARD in 2020 and 2021 to the tune of 25% per annum.

For a 300A base GT 36.4 -> 37,500 whereas inflation metrics would suggest 38,700.

So if you buy a base GT you are paying a LOT below inflation target, let alone getting S&S for "free". Also Ford is offering $1500 rebates right now for placing an order.

When I bought my 2017 GT PP1 in 2019 they were selling for about $26K and they were only 2-3 years old. Now it's two years later and they are listing in the low to mid 30s. That's a lot of inflation.

Maybe the new cars look better from an inflationary standpoint, but the new cars have features I don't want, so in my mind they are worth less money than an older car, not more. In 2015 my base GT MSRP was $32,900 or so. I wouldn't buy a new base GT for that.

 

[sk47]

Maryland Gov announces - launch of $1 million VaxU scholarship program ... kids between the ages of 12-17 who gets vaccinated are entered to win scholarships to receive $50,000 for any school of their choice. must be nice.

Hello; Just months ago many states and cities were nearly bankrupt. Then the covid became an excuse for passing massive federal spending and dumping loads of money into the states. Now they are on a spending spree. Sad thing will be, if past is prologue, the states and cities will blow the funds and soon enough be near bankrupt again.
In some ways the same money dumped into extra unemployment checks and stimulus checks and all has people feeling flush so they are paying the inflated prices.

Oh yeah. We get to have inflation with all of it as well.

 

[shogun32]

Maryland Gov announces - launch of $1 million VaxU scholarship program ... kids between the ages of 12-17 who gets vaccinated are entered to win scholarships to receive $50,000 for any school of their choice. must be nice.

RU lost, girly girl? 'science is canceled' thread is over ----> there.

 

[Cobra Jet]

For the used market - I'd like to know:

What are Lending Institutions doing as far as trying to qualify a Buyer for a vehicle that is selling for 15%-20% OVER it's supposed "book" value? I mean usually - prior to this auto market fiasco, banks would only lend up to a certain amount and if there was a delta, the Buyer had to come up with that via cash or other means.

Are Lenders really allowing Buyers to finance more than what a car is truly valued at (used or new)?

 

[EmCel]

My bad thought I was on a different thread

 

[EmCel]

Hello; Just months ago many states and cities were nearly bankrupt. Then the covid became an excuse for passing massive federal spending and dumping loads of money into the states. Now they are on a spending spree. Sad thing will be, if past is prologue, the states and cities will blow the funds and soon enough be near bankrupt again.
In some ways the same money dumped into extra unemployment checks and stimulus checks and all has people feeling flush so they are paying the inflated prices.

Oh yeah. We get to have inflation with all of it as well.

Sorry I posted this on the wrong thread

 

[Bikeman315]

RU lost, girly girl? 'science is canceled' thread is over ----> there.

Just in case she got lost.

https://www.mustang6g.com/forums/threads/science-is-now-cancelled.158720/page-184#post-3317946

 

[shogun32]

What are Lending Institutions doing as far as trying to qualify a Buyer for a vehicle that is selling for 15%-20% OVER it's supposed "book" value?

KBB is giving them cover by inflating 'value' . Just EXACTLY like the mortgage underwriters did during the housing fraud. That way the banks can claim their loans are money good.

 

[Cobra Jet]

KBB is giving them cover by inflating 'value' . Just EXACTLY like the mortgage underwriters did during the housing fraud. That way the banks can claim their loans are money good.

I was thinking the same exact thing.... This is 10000% representative of the housing fiasco of 2006/07.... Home Lenders were allowing anyone to get ballooned loans.... then housing market came crashing down...

 

[EmCel]

RU lost, girly girl? 'science is canceled' thread is over ----> there.

Oh yeah I remember how, I was thinking about buying a used car and renting it in Turo then I got distracted and was reading the news online and posted on here.

but God I wish car prices would drop soon so I can get a second car. I definitely don't want to get rid of my beautiful car.

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