Banks are warning of a pending used car price collapse.

Hopefully if anyone gets a bailout it will mess up their credit for a loooong time. I never had my mortgage forgiven or received a free cell phone or free health care.

 

This.

lots of folks are poised to make big $ in the upcoming bailout.

I would venture to say - the Gov will step in and "acquire" various entities/processes.

Kinda like the crap they pulled with the past GM bailout.

I'll even go as far as to say this could be used to crowbar digital/cashless transactions.

 

Man, I hope not….

 

I'm always glad to be proven wrong on stuff like this, because it sucks when someone spends that kind of money and winds up hating the thing they bought due to problems. I would still be leary of those years for my own purchase, but hopeful those who do/did buy have no issues.

 

Individually I understand all these words, put together they are ancient Aramaic. What are these free things???

 

I'd be more worried about joe shmoe sitting in the stall next to you farting up a storm creating that fecal cloud that's entering your lungs before you start worrying about the toilet seat.

Edit: Missed my opportunity to add this:

 

See part of me likes this, but part of me doesn’t. With the no haggling there are very few opportunities to really get a good deal. Like, boardline stealing. When I bought my truck the manager came out and told me that the dealership couldn’t do the deal the salesman and I shook on. Ended up getting it and felt pretty good. Now, I feel the only way to get those deals is going private party.

 

I miss the days when you could get thousands in incentives, cash back and money off the MSRP.

As far a free stuff I was talking about the housing bubble when a lot of people over extended and their loans were forgiven, then the affordable care act and the free Govt phone program before that.

 

you use big words.

 

You spill your guts a lot

 

That’s true. All over the place. Copious amounts.

 

Carvana has been sued so many times recently for not delivering titles/plates/registration that the value downturn may be from that . My wife said she would never buy a car from them based on all the crap on the news and she doesn’t pay attention to that stuff at all. Shady company.

 

Truckvana would be better.

 

Nothing will collapse.

Just some price adjustments plus sticky prices part of the economy ... Car market is not big enough to do any damage if any.

Housing market and especially the borrowers have been vetted unlike the last bubble and most have a very low interest rates with lots of cash in the bank and low unemployment rate!
US savings have never been higher (due to pandemic) and that's not helping the Fed lowering the inflation as quickly.

 

Well...I'm in a rental after selling and moving. Laying in wait for the home prices to drop. I may just buy after the lease is up regardless...can't stand paying someone else's mortgage.

 

You’re still mad about that? I kind of feel bad now.

Calling you lazy minded wasn’t fair. It was akin to someone calling me lazy because I can’t run as fast as Usain Bolt. We shouldn’t judge people because of their limitations. I hope you’ll accept my apology and allow me to relinquish the head space I’ve taken from you. It wasn’t right considering the limited availability you already had there.

 

Tesla gets around it by not technically selling it to you in a state that prohibits direct auto sales. You buy it online, it’s shipped to a state where direct sales are allowed, then they ship it to one of their “service centers” where you can take possession. It’s especially funny buying one in Texas. They manufacture them in Texas, ship it out of state, then ship it back to a service center local to you.
It’s convoluted, but they’re exploiting loopholes in the law.

 

This helpful info. Tesla goes thru all this hassle to avoid the dealership network. I wonder why this is?

It's because TX dealers wanted a vig on each sale. Tesla did not want anyone interfering with it's brand & sales technique.

Car dealers suck. each and every one of them.

Imagine how much dealer would mark up the Plaid series from Tesla.

 

I’m sure any manufacturer would prefer to go to direct sales if they could. I can’t see how it wouldn’t be a more profitable method. They don’t have to consider dealer profit when setting prices, only manufacture what is already sold, and maintain complete control of their brand.
Just the additional accounting alone needed for working through dealers has to be a huge expense for them. More accounts means more collections, cutting checks for hold back, dealers’ interest rate participation, warranty work, etc.

 

I tell ya....after buying a gaggle of cars over my lifetime...the Tesla experience of car buying was damn nice.

Even when we bought the Lexus back in 2011...the Lexus dealer was a bunch of douchenozzels. fancy sh1t everywhere & they still made you sit there while the fartstain had to go talk to the mgr.

Tesla...once I picked the car I wanted...a nice lady called me and set the whole transaction up. while I ate!

picking up the car was FUN. everyone was decent & energetic. they were happy for us to be getting that car. made the whole process enjoyable.

even the service guys were nice. our Model S leaked A/C fluid...fixed in 3 hours.

When I got the Tundra in 2020....it was awful. the salesman spoke broken Farsi. I had to yell at the sales booth with my offer.

I hope the dealers reap what they sowed.

 

Is ac fluid like blinker fluid?

haha just kidding. I’m glad you like your Tesla. Those things are awesome. I about lost it riding in a plaid.

 

no, not at all.

AC fluid makes the wife complain about the A/C not working. code red in man card handbook.

she can drive for years with the blinker fluid low.

 

You don't.

 

Verbosity is a terrible thing.

 

Well, they're not all that way. In 2020 (in fact, the very day we all got 'sent home' to work), I went in to 'haggle.' Took maybe 5 minutes to agree on a price.

Told them I'd be back later to pick up the truck, sign paperwork, etc. Took exactly 31 minutes from the time we walked in to the time we left with our truck.

 

Their videos just starting to load in my feed and I’ve watched a few. Good vids and not loaded with all the constant bullshit fluff that 99% of YT is now.