Sponsored

Worried the used car market bubble wont pop anytime soon

ICU812

Banned
Banned
Banned
Joined
Apr 21, 2021
Threads
40
Messages
1,760
Reaction score
1,486
Location
Prestonburg,KY.
Vehicle(s)
Ford Tempo, Ford Mustang,FFR,Crown vic.
And sooner or later your company will end up paying tax on all that excess inventory. Then what? As you said, the whole mess is going to come crashing down and I'm not sure any of our crystal balls are all that clear at the moment.

Trickle-down continues to affect my employer as well, and that and the inability to find production workers could make things interesting as we head into our busy season. Couple that with new management in my department (engineering) that many are uncertain of, and I know I'm leery of making any high-ticket purchases. I really want that '22 GT500, but I like being free of debt more, especially right now.
Things are going in reverse, The number of out of stock items is not as bad as April 2020, but it is getting worse and worse.
We are one lock down away from the economy tanking completely .
Sponsored

 

ICU812

Banned
Banned
Banned
Joined
Apr 21, 2021
Threads
40
Messages
1,760
Reaction score
1,486
Location
Prestonburg,KY.
Vehicle(s)
Ford Tempo, Ford Mustang,FFR,Crown vic.
The target audience is older and more affluent because younger people can't afford a Mustang. When Ford started price creeping the Mustang, they forced a whole different target audience. I think they will regret doing that in the coming decade or two. When all the older folks who grew up with the Mustang start to pass, the Mustang name won't mean as much and Ford will struggle to sell them without a different approach to the younger generation.

I think the average new car price is heavily skewed by the cost of a new truck these days. Trucks are way overpriced. It's getting out of hand.
Yup. the decade of cheap money has allowed Ford and others to send the msrp on vehicle to the moon.
Once the cheap money dries up( low interest rates).
They are in a world of hurt, I think within 4 years or less, very few people will be buying new, they will be leasing, as buying will be out of reach for the middle class family.
The average monthly payment is almost 600.00 bucks, then ad in insurance and fuel and service/upkeep. you are at or over a grand a month.
 
  • Like
Reactions: Ebm

ice445

Well-Known Member
Joined
Apr 13, 2020
Threads
33
Messages
6,092
Reaction score
7,225
Location
Salt Lake City, UT
First Name
Ryan
Vehicle(s)
2020 Mustang GT 6MT
Yup. the decade of cheap money has allowed Ford and others to send the msrp on vehicle to the moon.
Once the cheap money dries up( low interest rates).
They are in a world of hurt, I think within 4 years or less, very few people will be buying new, they will be leasing, as buying will be out of reach for the middle class family.
The average monthly payment is almost 600.00 bucks, then ad in insurance and fuel and service/upkeep. you are at or over a grand a month.
Kinda feels like we're hitting endgame in a way. The system we're used to is rather fragile, and people have already been overextending their living standards on credit for the last 20 years. It doesn't take much to break a family anymore. And with the cost of needs like food, fuel, etc going up way faster than wages....
 

Bit_the_Bullitt

Well-Known Member
Joined
Apr 22, 2020
Threads
12
Messages
1,254
Reaction score
1,269
Location
Ohio, US
First Name
Richard
Vehicle(s)
2019 Bullitt
Yup. the decade of cheap money has allowed Ford and others to send the msrp on vehicle to the moon.
Once the cheap money dries up( low interest rates).
They are in a world of hurt, I think within 4 years or less, very few people will be buying new, they will be leasing, as buying will be out of reach for the middle class family.
The average monthly payment is almost 600.00 bucks, then ad in insurance and fuel and service/upkeep. you are at or over a grand a month.
I can tell you, even buying used is expensive. We bought a used F150 since we needed a dependable towing capacity and the Niro hybrid just couldn't keep hauling what we needed.
So the slap at the gas station of what used to be a fill-up of $30 every 10 days to $90 every 10 days hurts. :(

I like the new trucks, especially F150 (I've never been a truck person mind you), but $37k - 73k is nuts.
 

ICU812

Banned
Banned
Banned
Joined
Apr 21, 2021
Threads
40
Messages
1,760
Reaction score
1,486
Location
Prestonburg,KY.
Vehicle(s)
Ford Tempo, Ford Mustang,FFR,Crown vic.
Kinda feels like we're hitting endgame in a way. The system we're used to is rather fragile, and people have already been overextending their living standards on credit for the last 20 years. It doesn't take much to break a family anymore. And with the cost of needs like food, fuel, etc going up way faster than wages....
Food cost going up, is from theft plan ans simple. To a company it isn't worth going after ship lifters, so stores get robbed blind. Item sizes get smaller because base price point and people can't do basic math.
Peanut butter on sale, example Jif. 2) 15 ounce bottles on sale for 2 for 5 bucks. So, 30 ounces for 5 bucks, the 40 ounce jif not on sale is 4.39 .
61 cents cheaper and you get 10 more ounces. The on sale items will fly off the shelf. People are dumb. And the unit price per pound is on every tag in the store.
I had to go shopping with my niece to explain why she was spending so much money on food for her family.
We shopped, getting the same things other than meat/dairy/frozen. and it was 67 bucks difference , showing her, just because it is on sale, doesn't mean it is a deal.
 

Sponsored

Strokerswild

Shallow and Pedantic
Joined
Nov 7, 2014
Threads
74
Messages
6,612
Reaction score
5,396
Location
Southern MN
First Name
Dave
Vehicle(s)
Things With Wheels

Bit_the_Bullitt

Well-Known Member
Joined
Apr 22, 2020
Threads
12
Messages
1,254
Reaction score
1,269
Location
Ohio, US
First Name
Richard
Vehicle(s)
2019 Bullitt
Food cost going up, is from theft plan ans simple. To a company it isn't worth going after ship lifters, so stores get robbed blind. Item sizes get smaller because base price point and people can't do basic math.
Peanut butter on sale, example Jif. 2) 15 ounce bottles on sale for 2 for 5 bucks. So, 30 ounces for 5 bucks, the 40 ounce jif not on sale is 4.39 .
61 cents cheaper and you get 10 more ounces. The on sale items will fly off the shelf. People are dumb. And the unit price per pound is on every tag in the store.
I had to go shopping with my niece to explain why she was spending so much money on food for her family.
We shopped, getting the same things other than meat/dairy/frozen. and it was 67 bucks difference , showing her, just because it is on sale, doesn't mean it is a deal.
Oh yeah, I only shop by per unit/per oz, per fl oz, whatever.
Actually actively pisses me off when some stores don't have this.

Aldi especially is great at this, they have it on all, easy to find - right in your face plus the store reminds me of home in Europe. Gotta love Aldi.

Wait, what were we talking about? :crackup:
 

Bikeman315

Well-Known Member
Joined
Apr 12, 2015
Threads
520
Messages
15,243
Reaction score
19,263
Location
Myrtle Beach, SC
First Name
Ira
Vehicle(s)
2019 Mustang GT/CS, 2021 Volvo XC60
I am kinda shocked that a base E/B is a under 30k car.
And frankly, with 310hp and 350ft lb. is faster than 98% of the Fox body/s197 cars when new.
The options add up fast, but the fact that you can buy a 310 hp mustang for under 30k is a shocker.
My 1989 GTA sticker was 32 and change back in 1989.
This is part of why this conversation is so ridiculous. Everything costs more today than it did 5 years ago, 10 years ago, 20 years ago. We owners of $30K-$50K+ sports cars then get on here and bitch about Ford and the current cost of Mustangs. What a bunch of hypocrites.

By the way I took this picture last week because I knew it would come in handy just for this type of conversation. $38K for a Mustang 26 years old. Our cars were a value then and they are still a value. A brand new 2021 460HP V8 powered sports car for $37K.

And don't get me started on peanut butter. :cwl: :crackup:

IMG_3082.jpeg
 

shogun32

Well-Known Member
Joined
Feb 8, 2019
Threads
89
Messages
14,608
Reaction score
12,098
Location
Northern VA
First Name
Matt
Vehicle(s)
'19 GT/PP, '23 GB Mach1, '12 Audi S5 (v8+6mt)
Vehicle Showcase
2
$38K for a Mustang 26 years old
that's $68,000 in today's funny money. So right on what the GT350(R) was going for.
Kids don't buy cobras, they buy the cheapest they can find.

Ford is pricing people out of the market in general but the EB is the saving grace. Porsche charges 65,000 for one of their 300HP 4-bangers...

27k for an EB today was ~15 large back in 1995. Were you guys buying base (v6?) Mustangs back then for that price? I personally don't know since I had zero interest in Mustangs till 2014.
 

Bit_the_Bullitt

Well-Known Member
Joined
Apr 22, 2020
Threads
12
Messages
1,254
Reaction score
1,269
Location
Ohio, US
First Name
Richard
Vehicle(s)
2019 Bullitt
This is part of why this conversation is so ridiculous. Everything costs more today than it did 5 years ago, 10 years ago, 20 years ago. We owners of $30K-$50K+ sports cars then get on here and bitch about Ford and the current cost of Mustangs. What a bunch of hypocrites.

By the way I took this picture last week because I knew it would come in handy just for this type of conversation. $38K for a Mustang 26 years old. Our cars were a value then and they are still a value. A brand new 2021 460HP V8 powered sports car for $37K.

And don't get me started on peanut butter. :cwl: :crackup:

IMG_3082.jpeg
The only thing that's really alarming about this is the "FORD - Quality is Job 1." :giggle:

Sorry I know that's a cheap jab. :)
 

Sponsored

ICU812

Banned
Banned
Banned
Joined
Apr 21, 2021
Threads
40
Messages
1,760
Reaction score
1,486
Location
Prestonburg,KY.
Vehicle(s)
Ford Tempo, Ford Mustang,FFR,Crown vic.
I looked at it this way, I had a 1970 Chevelle that I sank about the same amount of money my, new EB HHP cost me.
The new car does everything better than the classic, other than stand out and the big block rumble.
I will most likely have the same type money into my G body if I put a manual in it. And as cool as it is and will be, the new car will run rings around it, We are kinda spoiled with new performance cars.
 

Bit_the_Bullitt

Well-Known Member
Joined
Apr 22, 2020
Threads
12
Messages
1,254
Reaction score
1,269
Location
Ohio, US
First Name
Richard
Vehicle(s)
2019 Bullitt
that's $68,000 in today's funny money. So right on what the GT350(R) was going for.
Kids don't buy cobras, they buy the cheapest they can find.

Ford is pricing people out of the market in general but the EB is the saving grace. Porsche charges 65,000 for one of their 300HP 4-bangers...
Watch Savageese's video on Boxster 718 T, they had "as tested" of $78k for a 4-popper. :facepalm:🤷‍♂️
 

shogun32

Well-Known Member
Joined
Feb 8, 2019
Threads
89
Messages
14,608
Reaction score
12,098
Location
Northern VA
First Name
Matt
Vehicle(s)
'19 GT/PP, '23 GB Mach1, '12 Audi S5 (v8+6mt)
Vehicle Showcase
2
Watch Savageese's video on Boxster 718 T, they had "as tested" of $78k for a 4-popper. :facepalm:🤷‍♂️
yup, watched the video last night which is why the number was fresh on my mind. I was discounting the options...
 

Bikeman315

Well-Known Member
Joined
Apr 12, 2015
Threads
520
Messages
15,243
Reaction score
19,263
Location
Myrtle Beach, SC
First Name
Ira
Vehicle(s)
2019 Mustang GT/CS, 2021 Volvo XC60
that's $68,000 in today's funny money. So right on what the GT350(R) was going for.
Kids don't buy cobras, they buy the cheapest they can find.

Ford is pricing people out of the market in general but the EB is the saving grace. Porsche charges 65,000 for one of their 300HP 4-bangers...

27k for an EB today was ~15 large back in 1995. Were you guys buying base (v6?) Mustangs back then for that price? I personally don't know since I had zero interest in Mustangs till 2014.
Ford isn't pricing people out anymore than than any other car manufacturer. Both my daughters and one son in law have bought new cars in the last few months. Two Honda's and a VW. Remember when those brands were values. Go check todays prices and a Mustang GT is no big deal.
 

ICU812

Banned
Banned
Banned
Joined
Apr 21, 2021
Threads
40
Messages
1,760
Reaction score
1,486
Location
Prestonburg,KY.
Vehicle(s)
Ford Tempo, Ford Mustang,FFR,Crown vic.
that's $68,000 in today's funny money. So right on what the GT350(R) was going for.
Kids don't buy cobras, they buy the cheapest they can find.

Ford is pricing people out of the market in general but the EB is the saving grace. Porsche charges 65,000 for one of their 300HP 4-bangers...
Kids buy the cheapest they can AFFORD, just like most that bought their own rides did.
Then built off that. nothing new there, my first car was a 50.00 car that needed a transmission, So 75 bucks and my time, I had a running/driving car.
Not many kids could ever buy a new car. They could after a few years of being in the work force. Problem now is, the last few decades kids were sold a load of crap, that they needed a college ed. to be anyone. So they now can't afford anything because of the 50-100k+ student loans.
I think a loaded GT at 50-54k nuts, but that has more to do with me remembering looking at new fox body cars with a sticker of 11-18k . A lot of time has past since then and I along with many forget just how long.
It was a sad day last month when the news stated that Donkey Kong was 40 years old. I was like WTF. really.
Sponsored

 
 




Top