Used Car Market In Turmoil As Prices Collapse And Demand Wanes

[Number_35]

Having traveled extensively-I can assure compared to many parts of the world that we are still way ahead of those countries that make a taillight in the sand.....

Once heard a Pentagon General speak-he said
"Everybody hates us-but wants to be like us!". So yea.....

Agreed - it's easier to idealize other societies than to live in them.

 

[Rmay635703]

Are you referring to the Gramm-Leach-Bliley Act of 1999 that partially repealed Glass-Steagull? Considering its bipartisan enthusaism I wouldn't exclusively blame the 42nd President.

Clinton privately had noted he was against its repeal but he would have faced a 2/3 majority overruling him. He was weak in that moment due to his admin being beligered with lawsuits.

Glass Seagull was on its way out starting near the end of Reagan with approval of the first “exemption “ to it under Bush.

Bygone conclusion but also the worst decision followed by Nixons pushing unlimited free trade with China in the 70’s followed by all the legal damage done by the financial class in the 80’s allowing for all the guilty parties getting away Scott free causing the Savings and loan crisis.
Several prominent individuals in our government would have been in prison decades ago if things were done properly.

As to the original topic, several classes of vehicles have had their wholesale values drop 5% in a week (followed by 6 months of small losses in value)

 

[cb_13]

I’m still waiting on this market crash. I’ve been trolling marketplace for a truck for the last 6 months. Everything is way above kbb private party(not that it’s 100% but usually within a few thousand).

With rebates making a return it looks like new may be the same cost as a few model years old here real soon again. At least in my area, I know that’s a big difference maker. Here in the Midwest trucks are king. You can find deals on sedans for days’

 

[wpod]

Automotive market will be rude awakening for a large percentage owners who bought in last few years likely upside down.

Housing market mentioned here is doing fine, supply/new builds has not changed and demand remains.

The second you buy a car is most likely underwater and what would it matter unless one is selling the car?

 

[dumkid]

I’m still waiting on this market crash. I’ve been trolling marketplace for a truck for the last 6 months. Everything is way above kbb private party(not that it’s 100% but usually within a few thousand).

With rebates making a return it looks like new may be the same cost as a few model years old here real soon again. At least in my area, I know that’s a big difference maker. Here in the Midwest trucks are king. You can find deals on sedans for days’

Old Cars are cheaper in cali bcs emissions and bikes are dropping in price.