I have a 2016 Corvette I bought used, drive off the lot for 42k in 2018. I had a dealer offer me 41k to trade it last week. with that I would bet I could sell it in a week pricing it at 46k which is twice what I still owe on it. NADS guide shows 51K retail if clean. BTW, I have one extra not able to be added that seems to be worth another 3 grand. So is not just trucks. Saw a news report last weekend that in the last year used vehicle values have jumped 34% in the last 12 months.
How are people affording all these fancy big trucks?
- Thread starter i am herdman
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My wife just got a new ride right before Christmas and the dealer gave her a really great trade in price. The car was three years old and still looked new.
Yes. They like this. Back orders are irrelevant if you're making lots of money off what you do sell.
U.S. corporate profits have never been fatter — or accounted for a bigger portion of economic growth, recent figures released by the U.S. Bureau of Economic Analysis show.
Third-quarter after-tax profits made up about 11% of GDP, a measure experts typically use to gauge the nation's economic health. It's been nearly a decade since that proportion was even close, according to BEA figures.
One reason? Companies were able to boost prices amid supply chain snags, leaving consumers paying more for everything from gasoline to food to toys. Corporate expenses haven't climbed as quickly,
It depends on the industry, but in food at least they hate empty shelves because it means the customer may try a competitor’s product and move over to them.
For sure. I have a 2005 with 326k. Runs great, drive it all the time.
Yes some of them have done exactly that. Example:
Despite higher prices, 50 of the largest oil companies have increased their annual budgets by just 1% relative to their initial plans, according to Raymond James. Instead of plowing money into expensive drilling projects, the oil-and-gas industry is focused on returning cash to shareholders.
"It's not the government that is banning them from drilling more. It's pressure from their shareholders," said Molchanov.
This is true. The niche car market is even more out of whack. In November 2020 I bought a car that appreciated $100,000 by November 2021. The market has cooled off a little, but still bringing $80k over MSRP. It's the PPP money, mostly.
In March I was looking for a low-mileage Porsche 993. I found one in Charlotte and went to look at it. Had 39,000 miles and he was asking $80k. Now it's worth close to $150k. I'm a dumbass for not buying it.
Soon the market will be flooded with all of these luxury items, including boats, jet skis, planes, beach houses. If you have kept your financial house in order and prepared for Joe Biden's depression, you should be feeling pretty good about the luxury items you're going to be able to buy at pennies on the dollar.
A dealer gave a great trade in price when buying a new car? That is unheard of....
I’m very thankful that my and my wife’s cars both shat out right before the prices went through the roof. Saved us a mint.
As we all know, new vehicle inventory is very low due to chip shortages. Therefore, those who can't get new vehicles are opting for used vehicles. Thing is, the used inventory was a bit low before the chip shortage. Much higher demand for used is driving their prices up.
As far as new units are concerned, trucks provide the largest profit margin to US manufacturers - guess where all the chips are going? Pickups. So, it's probably a bit more possible into get a new truck....at least you can find one close to the way you'd want it so you don't have to wait for 4-6 months to get an ordered unit.
When new vehicle production gets back on track, you should see used car values return to a more "normal" level as the market rebalances to incorporate more new vehicles.
As far as new units are concerned, trucks provide the largest profit margin to US manufacturers - guess where all the chips are going? Pickups. So, it's probably a bit more possible into get a new truck....at least you can find one close to the way you'd want it so you don't have to wait for 4-6 months to get an ordered unit.
When new vehicle production gets back on track, you should see used car values return to a more "normal" level as the market rebalances to incorporate more new vehicles.
Still a shame that America stopped making cars.
Had to buy Japanese. Glad I did though, because I hate SUVs. They're just weird looking cramped minivans. The only cars left are either this Nissan Maxima or maybe a Toyota Avalon, which I don't think had this much legroom so it's not even as good. Nissan Maxima is all there is. Nothing else worth having.
Had to buy Japanese. Glad I did though, because I hate SUVs. They're just weird looking cramped minivans. The only cars left are either this Nissan Maxima or maybe a Toyota Avalon, which I don't think had this much legroom so it's not even as good. Nissan Maxima is all there is. Nothing else worth having.
True, but they also were probably saying that to try and get you to jump and buy something now. Car salesmen are never happy to wait 4-5 months to sell you a car. Hell, there's probably a 50% chance the person you talked to won't even be there in 4-5 months.
That's not what a person I know says. They say they are doing this on purpose to drive up profits. The businesses like backorders.
Hell I traded in a Kia Sportage for more than I paid for it. The joke is on someone, it was using oil like crazy. Kia announced they now cover the engine for life right after I traded, but who wants to be without their car for a month or more when the engine needs replaced?
That's when you buy a beater with a heater and make do for a few months.
I would think you would enjoy an SUV with decent off-road capabilities, you like to get away from everyone. Get a 4Runner and move to Utah.
The Avalon would last for 400k miles. That Maxima won't.
Yeah right.
I have a home office that I work out of generally 2 days a week. When I'm there, I often eat lunch while working and can never unplug and they get 10 or more hours out of me on the reg.
I hate having my work in my house. The benefit is sleeping in. Even though I only live several miles from my workplace, it's all city traffic, tunnels, bridges and gridlock to get there.
When I drive into the city, I have a much better time pulling the plug. I shut off my laptop and work phone when I'm done; and if it's urgent, select people can contact me offline.
I'm staring at a knee surgery in less than 2 weeks, but it's still worth all the walking I do in the city to get my work out of my home.
It was the only new car at the dealership and what they gave was a much inflated trade in without even seeing the car. This car is a luxury import and the dealership had no urgency to sell it too us. The color alone made it high demand. My wife drives this car, I drive the 4Runner with 326k. 😃A dealer gave a great trade in price when buying a new car? That is unheard of....
You really believe all the chip sets snd batteries have been available from China, Vietnam?
For awhile we couldn't deliver a 30k piece of equipment because of batteries. Now the customer only gets one instead of the normal two batteries.
Yes. I love living here, though.
But I see out of towners try to over-correct constantly when they miss their turn—that admittedly, you have zero time to prepare for with GPS—and then boom: crushed by another car.
There's always new car parts on the ground on the outbound infrastructure of the Liberty Tunnels.
People need to learn that when you miss your turn, just commit to Monroeville, Ross or Moon Township and get it on the next go-around.
Supply side failure. And some manufacturers are fine the way it is.....
Major auto manufacturers have been raking in money this past quarter as consumers who can afford it show unexpectedly strong appetite for expensive new vehicles.
Companies such as Ford, General Motors, Fiat Chrysler, Daimler and BMW reported impressive earnings in the period between July to September, surpassing their pre-pandemic performance in many key metrics. Honda and Toyota raised their profit forecasts sharply. 11/6/2020
You pretty much gave it away when you said city traffic with tunnels and bridges, my other guesses were Boston or Seattle. I have only been to Pittsburgh twice, but generally hear good things about it.
Listen, crybaby, you need to start linking to the articles that you copy and paste.
Do you understand me, cowardly cuck?
If remember, That was actually a board rule at one point. Cooywrite issues I believe
Nope, still hate them. And I definitely can't go to Utah. I'm dreading just having to go somewhere tomorrow other than Mason County. I'm real old and about to die. Time to go back where I came from and wait for the tumors to spread.
I'd never trust a car past 150,000 anyway no matter what. Just wouldn't. Yeah, last. Last means as long as I take it to people to keep it worked on.
I've got places to sit alone in a car and wait for cancer. Can't be wasting time at shops while they rebuild half the car or whatever every other day.
Oh bullshit. Stop being a pussy and live.
One of my neighbors has a Land Cruiser with a bit over 300k. All he has done is maintenance: fluids, belts, tires, pad and rotors, two window regulators, and he oils up the underside every winter. It's a tank.
Take care of shit and it will take care of you. But it pays to have the right shit to begin with. Nissan isn't the Nissan of the early 90's because of those shit CVTs. But I would buy a new Frontier, no shit CVT in it and all their off road tech is as proven as Toyota's. Just don't buy a Titan, Nissan has no clue how to build a reliable full size truck. That's an Asian thing. Toyota only built reliable full size trucks because they went with lesser tech, lesser power, etc (this is totally fine with me). Now that the new Tundra is loaded with tech stuff I am curious to see how it holds up. Toyota knows about turbos and hybrids, but that tech when pulling heavy loads is a different ballgame.
One of the more stupid comments you’ve made.
Read and learn from a liberal economist:
Extra is an idiot
Supply side failure. Plain and simple. Plenty of demand, can't supply it. Again, supply side failure. phlegmwad.
Nope, I've had enough. Whatever time I've got left, spending it the hell away from people unless it's for work. Everybody bought this bullshit and I didn't. The only one on earth who didn't buy it.
That's not an easy life having to live it against the will of everybody else. People want me masked and closeted in a basement somewhere. It would result in the fastest hanging I could put together.
I told my wife is this bullshit goes on much longer I might just turn into Kate Branson. Hell Obama or Bush didn't divide this country this much and this mask bullshit sucks. This vaccine shit sucks. Fauci sucks. China sucks. Webex Sucks. Email sucks. This is not even America anymore
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