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Replies: 31
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Lot o points [155906]
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Good news for you used car buyers, bad news for investors...
Nov 9, 2022, 8:55 AM
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Biggest used car index drop since 2008 crash. Another indicator of where we are heading.
I do know a lot of you have been kicking around a car purchase...I'd hold out a little longer. This is the wholesale price index, so it will take just a little longer to fully translate to retail pricing, but it's coming.
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Heisman Winner [135587]
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I might have to go drive a few things so I know what I want
Nov 9, 2022, 9:02 AM
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but I'm really thinking that Nissan Armada is the big comfy highway cruiser I need. Seems to be everything I need for way less than Toyota/Honda/Kia/etc. Terrible gas mileage, but I don't really go anywhere during the week these days anyway. Reliability seems at least average or better.
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All-In [47811]
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I had this same thought the other day
Nov 9, 2022, 9:29 AM
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Armada is probably bigger than what I really need these days, but would come in very handy a few times a year (tailgating, vacations, etc). Really like them.
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Lot o points [155906]
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I haven't looked at what they're going for in a while,
Nov 9, 2022, 9:33 AM
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but I helped my Dad get one in 2019 that was one year old with like 15k with Nissan extended warranty for something absurd like $20k off the original sticker. It was far and away the biggest bang for the buck in that market segment.
Of course he traded it after 2 weeks for a Suburban because he couldn't handle not having a beloved Suburban (he's on his 5th now I think) but there was zero wrong with the Armada other than a slightly uncomfortable driver's seat if you have longer legs. It's a short seat bottom with limited thigh support that gets pretty painful over a long drive.
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All-In [49045]
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That rules it out for me...
Nov 9, 2022, 9:58 AM
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since I'd be fine with a Camry for a few more years of running around the state if it didn't make me limp for a couple of minutes after I got out every time. But wife's four runner has the same effect. I think it's Toyotas and I guess Nissans.
I had that G35 that was fine, an older Accord. Something about the Toyotas.
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Heisman Winner [135587]
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110%er [9734]
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Oculus Spirit [79429]
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All-TigerNet [13360]
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Re: Good news for you used car buyers, bad news for investors...
Nov 9, 2022, 9:03 AM
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Are you saying this will translate to the new car market? Or just used cars?
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Lot o points [155906]
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Just my opinion, the used car prices will
Nov 9, 2022, 9:08 AM
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drop well before new. There are still artificial variables (supply chain issues) impacting new car inventory. The used car supply is a more organic reflection of supply and demand, and inventory is about to begin piling up.
Used cars will be the lead indicator on the new car pricing. It'll take used cars becoming a more attractive proposition than they have been to siphon buyers away from new cars before the new car inventory begins normalizing, with prices following.
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CU Medallion [56069]
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Heisman Winner [135890]
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Let me get mine sold at 11 today before the bottom
Nov 9, 2022, 9:09 AM
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drops out.
Please . . . . . .
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All-In [46825]
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People are still trying to sell 2016
Nov 9, 2022, 9:14 AM
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150k miles Chevy Silverados for 30k+
Insane
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All-TigerNet [12162]
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So, where the rubber meets the road
Nov 9, 2022, 9:14 AM
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how long you think? Son of CubMD moving to Charlotte with job in January. CubMD says to son, son you must take your own car up there, car of CubMD you are driving becoming less dependable
2 months?
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Lot o points [155906]
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That seems reasonable to me.
Nov 9, 2022, 9:23 AM
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I do think you'll start seeing it reflected by then. With that said, the worst of the blue chip resale value cars will continue to be strong most likely, Wranglers, Tacomas, etc, but I think the days of silliness like original MSRP for a 2-3 year old F150 are coming to an end.
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All-In [49045]
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I'm hoping Camry's are still expensive and
Nov 9, 2022, 9:34 AM
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any other car I want by then has cooled off in about two months. This could work out for me.
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Lot o points [155906]
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You seen what the markup is on
Nov 9, 2022, 9:35 AM
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hot hatches like the Civic R and new Corolla GR? Dealers getting like $60-70k after markup for a freaking Civic, LOL.
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All-In [49045]
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Well, I guess a Golf R at $46,728 would be a deal
Nov 9, 2022, 10:06 AM
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I just looked and 2021's Civic Type R's are selling for nearly 50K on Carvana.
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Lot o points [155906]
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Want a good laugh?
Nov 9, 2022, 10:10 AM
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All-In [42874]
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That can't be real. No way.***
Nov 9, 2022, 10:13 AM
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Lot o points [155906]
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sad but true***
Nov 9, 2022, 10:13 AM
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Oculus Spirit [81061]
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That quote is getting some mileage on it.
Nov 9, 2022, 10:55 AM
[ in reply to Want a good laugh? ] |
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I saw that about 3 weeks ago on another forum.
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All-In [40929]
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Dang I was rich a year ago based on Zillow and Kelley
Nov 9, 2022, 9:23 AM
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I guess its time to go back to work, except I'm home sick today.
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CU Medallion [55747]
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Great. And oh, APM was able to resurrect the Subaru.
Nov 9, 2022, 9:39 AM
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So the APM fam dodged a bullet of having to buy a car now. Whew.
Obed® I want your input on APM's next car. For reals.
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Lot o points [155906]
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I am glad to continue the grand lunge tradition.
Nov 9, 2022, 9:42 AM
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You provide me with certain parameters
I perform an exhaustive analysis of features/benefits, warranty, reliability, value, and resale value, and come up with two-three good options for you.
You go buy something completely and totally different.
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All-In [42874]
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Re: I am glad to continue the grand lunge tradition.
Nov 9, 2022, 9:49 AM
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Oculus Spirit [75717]
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I grow every so weary of burning the candle at both ends.
Nov 9, 2022, 10:00 AM
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Sure every month I my cash on hand for the down payment grows, but the Camry also loses value. My goal is to not need any of the Camry proceeds to get the deal on the next vehicle done. The best scenario is what I get for the Camry fully replaces the cash going out for the down payment should I elect to even sell it.
I also don't really know how these economics translate to the truck market, which just seems to have been totally insane for a long long time.
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Oculus Spirit [79429]
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I'm in the market, but think we'll hold out until January
Nov 9, 2022, 10:06 AM
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or February and see how things go. If only I could convince my wife to go ahead and sell her car then drive the old Pathfinder around for a few months we could make out really well.
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Hall of Famer [21935]
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Just got me some new shoes on the Tundra
Nov 9, 2022, 10:34 AM
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won't need a truck for another 4 or 5 years now.
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CU Medallion [66054]
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Yep, I will start in earnest, around the end of January
Nov 9, 2022, 10:41 AM
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I doubt I can get a "deal" on a truck but I won't be paying $20K over it's worth
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All-In [36450]
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The market is gonna tank now. All macroeconomic factors say it will
Nov 9, 2022, 4:17 PM
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Pepper thy angus. I bought SQQQ yesterday and made 4.5% today and sold bc shorting the market. I’m gonna short this market all the way down and then ride it back up.
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CU Medallion [60043]
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I saw and noticed this recently when I saw
Nov 9, 2022, 4:48 PM
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40k mile 4Runners going for less than $30k. Tide is turning for sure and it’s crazy how fast.
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