03-24-2020, 08:01 PM | #1 |
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Are used car prices rolling over?
I follow used (pre-owned) prices for a couple of high performance models on my wish list. Is it my hopeful thinking, or are discretionary model (not the family grocery getter) car prices starting to soften?
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03-24-2020, 08:36 PM | #4 |
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High horsepower four doors.
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03-24-2020, 09:38 PM | #5 |
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The Fed is forecasting 30%+ unemployment in the short term?
Yes. There will be deals out there. There are going to be a lot of people living on the edge of their means (i.e. leveraged to the hilt) that are going to have to make a choice between food and toys. P-Cars are nice, but they're not all that fun when you don't have enough cash to keep the lights on, a roof over the family's head or food on the table. Be patient. The carnage hasn't even *started* yet. Just my 0.02. R. |
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03-25-2020, 12:48 AM | #7 |
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Doubt that folks with P cars will be affected this much, though some people will have to sell their cars no doubt. 30+ unemployment sounds like a catastrophe nobody has quite seen in this country
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03-25-2020, 07:00 AM | #8 |
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03-25-2020, 08:16 AM | #9 |
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I am not seeing it yet, was in the market before this hit but the wife's law practice has ground toa halt so will not be able to pounce even if prices tumble, just too risky in case i lose my job or something like that.
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03-25-2020, 03:02 PM | #10 | |
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In that same vein, I think you'll see Porsche dealerships start to give better discounts but they aren't going to upend their model and start giving leases away the way BMW does.
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03-25-2020, 08:16 PM | #11 | ||
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03-25-2020, 10:14 PM | #12 | |
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You have an equal, if not greater amount of folks over there that couldn't give a crap about depreciation and resale. My point was less about the owners worrying about depreciation, more about them not being in a tough spot financially because of the car.
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03-26-2020, 10:32 AM | #13 | |
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03-26-2020, 11:50 AM | #14 | |
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03-27-2020, 03:44 AM | #15 |
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Just wait a few more months. Everything is going to go off a cliff.
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03-27-2020, 08:34 AM | #16 |
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If CV keeps going, there will be fire sales on toys from people out of work etc.
I don't want people to lose their jobs, but maybe I'll finally be able to pick up a nice driver quality old muscle car stupid cheap. Even better would be one already LS swapped. Need to find some NA Miatas to flip as well. Market is hot for clean ones |
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03-28-2020, 09:02 AM | #17 |
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A new listing meeting my search criteria is priced below a psychological threshold, meaning it is priced lower than existing listings with the same search criteria. Features, model, year, mileage, clean title and specifications are comparable. It's an apples-apples comparison.
It will be interesting to see how this develops. Last edited by chassis; 03-28-2020 at 09:23 AM.. |
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03-28-2020, 09:23 AM | #18 |
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A tangential data point. I sold a few mid range watches (Omega, Breitling) to pull together funds for my M240 late last year, glad I did it when I did, the market for Swiss watches is pretty dead now.
Maybe I should try to buy them back at a discount |
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03-28-2020, 01:01 PM | #20 |
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There won't be firesales because they'll be no buyers, the amount of inventory on the market will keep the market for P cars right where they are, with slight blips. The pending Apocalypse isn't going to happen either. Yes, things will peak before trailing off, but if anyone uses their brain to learn about these viruses, they all have a run, then fade away. Things may be quiet for a little while in markets such as vacationing, ie, Cruise Line and Air Travel, but Stay Cations will be the norm. Local little trips here and there to the mountains or ocean. And honestly, although the rate of infection may be high, and the death rate slightly higher in most places, this isn't much worse than the 17'-18' Flu season that claimed 80k lives in the U.S. alone, and there was no apocalypse then either, and we HAD a vaccine (only worked in 1/3). So chillax, bunker down and just relax with all the hyperbole about things are gonna get worse. It's just silly!
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03-28-2020, 02:23 PM | #21 | |
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03-28-2020, 02:49 PM | #22 | |
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Those prices are only down 2-5%, and still going well over MSRP. Trust me, been watching close as I’ll be buying if they continue to fall. Omega, Breitling, Panerai etc we’re already pretty soft before all this. But I’m sure there will be great deals to be had.
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