Bikeman315
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Used car prices could crash - will they?
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theruleslawyer
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By crash you mean return to normal.
shogun32
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can't you at least make this a survey option?
and yes it will crash. individual owners will scream and stamp their feet when they lose their ass trying to resell their cars. Just like GT350 owners will weep into their beer when the 30 grand premium goes poof.
Auto manu don't make a penny on used car sales so I suspect they will DEEPLY discount new to get the consumer cycle rebooted. They might even give unusually generous trade-in credits to soften the blow and push reluctant buyers over the edge. Or the gov't will concoct another used-car destruction program. They'll pitch it as getting the ecnomy back on track and "saving" american jobs. It's all utter nonsense and will tremendously HURT the middle-income family and below but nobody cares about them. They'll just wave public transport and/or EV credits around so it looks like they're helping the working man.
and yes it will crash. individual owners will scream and stamp their feet when they lose their ass trying to resell their cars. Just like GT350 owners will weep into their beer when the 30 grand premium goes poof.
Auto manu don't make a penny on used car sales so I suspect they will DEEPLY discount new to get the consumer cycle rebooted. They might even give unusually generous trade-in credits to soften the blow and push reluctant buyers over the edge. Or the gov't will concoct another used-car destruction program. They'll pitch it as getting the ecnomy back on track and "saving" american jobs. It's all utter nonsense and will tremendously HURT the middle-income family and below but nobody cares about them. They'll just wave public transport and/or EV credits around so it looks like they're helping the working man.
theruleslawyer
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Id bet the transportation appliance style ones drop. The people who buy those will just gravitate to the lowest TCO.
Long term id expect special models to do the best. They won’t be buying them because they are fast. Im sure the classic car market can be somewhat a gauge for that.
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Many I know are sitting out buying anything vehicle wise.
Many used car dealerships have almost no foot traffic, and tire kickers on the online sales end.
Other than those that have to replace a vehicle, most are in a wait and hold.
At some point the dealers will need to make a loan payment and NEED to move stock, and drop the prices.
We are the odd balls, we are a small % of vehicle buyers that want our rides our way, the general public only care if it gets them around, has normal features, and priced right.
At the moment used vehicles are way over valued, and most buyers know it. Most vehicle sales are impulse buys, from a person just looking and then pull the trigger, lately they are not even looking.
The bad part is even if use prices start to come back to reality, interest rates are said to be going up. So, give the money to the dealer, or give it to the bank. Unless you are a cash buyer. Then you let them think you are taking a loan, get numbers than write a check.
Many used car dealerships have almost no foot traffic, and tire kickers on the online sales end.
Other than those that have to replace a vehicle, most are in a wait and hold.
At some point the dealers will need to make a loan payment and NEED to move stock, and drop the prices.
We are the odd balls, we are a small % of vehicle buyers that want our rides our way, the general public only care if it gets them around, has normal features, and priced right.
At the moment used vehicles are way over valued, and most buyers know it. Most vehicle sales are impulse buys, from a person just looking and then pull the trigger, lately they are not even looking.
The bad part is even if use prices start to come back to reality, interest rates are said to be going up. So, give the money to the dealer, or give it to the bank. Unless you are a cash buyer. Then you let them think you are taking a loan, get numbers than write a check.