Do Not Buy A Used car!!!!!

[BabyDoc1012]

Just saw an autotrader advertisement on Facebook for a 2017 base GT with PP1, spoiler delete and does not look like any other options. 79,000 miles and they are asking $37,995 for it! That is ridiculous!

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[EmCel]

Just saw an autotrader advertisement on Facebook for a 2017 base GT with PP1, spoiler delete and does not look like any other options. 79,000 miles and they are asking $37,995 for it! That is ridiculous!

Ya that's too much. Especially with 79k miles, they must of driven it like I do

 

[BabyDoc1012]

Ya that's too much. Especially with 79k miles, they must of driven it like I do

Yea it is ridiculous, my 21 on order is only gonna be 38 with Xplan

 

[EmCel]

Yea it is ridiculous, my 21 on order is only gonna be 38 with Xplan

That's good. I should of been a small used car dealer ... I would be making bank right now with everyone paying these insane prices. The demand is definitely there ...

 

[Hack]

Just saw an autotrader advertisement on Facebook for a 2017 base GT with PP1, spoiler delete and does not look like any other options. 79,000 miles and they are asking $37,995 for it! That is ridiculous!

It should be around $20k, not $40k.

 

[Bikeman315]

That's good. I should of been a small used car dealer ... I would be making bank right now with everyone paying these insane prices. The demand is definitely there ...

The demand really hasn't changed. What has changed is the supply. With used car prices skyrocketing the supply line will eventually fill up. But the demand will drop because the high pricing. So we will have large inventories, high prices, and lower demand. Economics 101 tells you what comes next.

 

[BabyDoc1012]

It should be around $20k, not $40k.

Thats exactly what I was thinking. So many of these shady car dealers are gonna be SOL once everything catches up.

 

[Bikeman315]

Thats exactly what I was thinking. So many of these shady car dealers are gonna be SOL once everything catches up.

I'm not sure what you mean by shady. We are not talking about some used car lot on the corner of Main St. Vroom, Autotrader, Carmax and other large retailers are driving this insane market. Just do not think for a minute that we are all not going to suffer when it goes poof!

 

[shogun32]

Thats exactly what I was thinking. So many of these shady car dealers are gonna be SOL once everything catches up.

don't yo worry none. they'll make it up in volume just like uncle Bezos. It's only investor capital, not their own.

Vroom et. al. are already hedging their bets with lower buyback valuations and quantity. Once their schmancy algorithm says 'stop' they'll stop.

(BIG) Losses are the new profits; your company is worth more the more you lose and in spectacular fashion. For everything else there is Softbank who is STUPID enough to invest in every tin-pot idea. And anyway the Fed has the banks' backs - it it goes big time sideways, they just hit rewind on their marvelously successful 'housing crash' play book. It's all good. The experts are in charge.

Nothing to see here citizen, move along and keep buying. It's the patriotic American way.

 

[Smunczen]

Thats exactly what I was thinking. So many of these shady car dealers are gonna be SOL once everything catches up.

Going to be interesting to see how this all shakes out in the end.

 

[sk47]

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...

Hello; Before the pandemic started there was massive credit card debt and student loan debt. I do not think that has gone away.
Then there is the looming end to the moratorium on evictions. Landlords have been eating all the costs of owning a rental with little or no income. In some cases the renters were out of work due to the virus. But that was part of what the extra $300 in unemployment and stimulus checks were supposed to go for. However what I hear is folks are spending the extra money on goodies and not paying the rent out of it. Thinking like the moratorium means they do not owe. My take is they will owe all the back rent and the current rent. Does anyone know?

 

[EmCel]

Hello; Before the pandemic started there was massive credit card debt and student loan debt. I do not think that has gone away.
Then there is the looming end to the moratorium on evictions. Landlords have been eating all the costs of owning a rental with little or no income. In some cases the renters were out of work due to the virus. But that was part of what the extra $300 in unemployment and stimulus checks were supposed to go for. However what I hear is folks are spending the extra money on goodies and not paying the rent out of it. Thinking like the moratorium means they do not owe. My take is they will owe all the back rent and the current rent. Does anyone know?

Maybe there will be rent forgiveness like everything else. We'll continue paying our taxes for all the losses and hand outs. Some people need it and some don't who abuse and misuse every bit of penny they get.

 

[sk47]

Maybe there will be rent forgiveness like everything else. We'll continue paying our taxes for all the losses and hand outs. Some people need it and some don't who abuse and misuse every bit of penny they get.

Hello; I was called selfish in a thread because I want to stay warm in the winter and do not want to do without to help with a member's favored agenda. No telling what I will be called for not wanting to have tax dollars go to forgive rent owed.
I was 62 years old when I bought my first and so far only home. I rented before that starting when I was 19 years old. I lived in some crummy places along the way but never missed a single rent. There were times I did without to pay my way and to save for my old age.
I get that such forgiveness is popular with many and a way to vie for short term favor in votes. I say short term because the bill will come due someday for all the needless handouts. I say needless to make a difference between helping those actually in need and the other sort which is something like a scam. Like you say some abuse and misuse.

 

[EmCel]

Hello; I was called selfish in a thread because I want to stay warm in the winter and do not want to do without to help with a member's favored agenda. No telling what I will be called for not wanting to have tax dollars go to forgive rent owed.
I was 62 years old when I bought my first and so far only home. I rented before that starting when I was 19 years old. I lived in some crummy places along the way but never missed a single rent. There were times I did without to pay my way and to save for my old age.
I get that such forgiveness is popular with many and a way to vie for short term favor in votes. I say short term because the bill will come due someday for all the needless handouts. I say needless to make a difference between helping those actually in need and the other sort which is something like a scam. Like you say some abuse and misuse.

I'm pretty sure there's a thread for this exact topic but definitely not here but I see what you're saying. I keep finding myself in the used car prices thread and not paying attention.

 

[JCFoster]

Sadly people selling beaters think their junk cars are worth $$$$ more.

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