Anyone have any insight as to what the car market may do over the next few months. My initial plan was to start looking in the next month or so, but I have heard it may be better in the current market to hold off until later in the year. What does Texags think?
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Last: 7 mo ago by htxag09
I've been hoping inventory would start to pile up so the manufacturers would start applying rebates and low interest rates. Feels kind were headed the way but not fast enough. Time for two new cars and prices are insane. GM just announced huge profit and from watching my local dealer, things are still moving especially trucks and full size SUVs.
Don't count on Ford dropping prices anytime soon.
https://www.cnn.com/2024/04/24/business/ford-earnings-ev-losses/index.html
https://www.cnn.com/2024/04/24/business/ford-earnings-ev-losses/index.html
A collapse in new car prices is coming. This will be a bust never ever seen before. We taking about 25% car price cuts for new cars from Ford Bronco to Toyota Taco to EV.
— trader (@TicTocTick) April 26, 2024
If you are in market for new car, wait. You will thank me later.
I saw that thread last night.
I have no idea who that is or if there is any merit to what he is saying.
I have no idea who that is or if there is any merit to what he is saying.
Seems like he doesn't know much but likes to have a platform….
His $19 w tax Big Mac is cherry picked like you can't believe (the avg price of a Big Mac in the US was $3.91 in the cheapest state and $5.31 in the most expensive). For reference, a #1 combo at the McD in Vail is $13. So, maybe the guy lives in airports? Also, as of 1/1/24 the price of a 12 piece bucket is $18.99 for dark or 24.99 for all white. So yeah…
80 year mortgage is 5 generations? Umm I hope not. Canada more dangerous than Ecuador? Cool story bro, bet he hasn't been to either of thinks that's remotely feasible.
And my FAVORITE
I guess you can't be profitable without being penetrated first….
His $19 w tax Big Mac is cherry picked like you can't believe (the avg price of a Big Mac in the US was $3.91 in the cheapest state and $5.31 in the most expensive). For reference, a #1 combo at the McD in Vail is $13. So, maybe the guy lives in airports? Also, as of 1/1/24 the price of a 12 piece bucket is $18.99 for dark or 24.99 for all white. So yeah…
80 year mortgage is 5 generations? Umm I hope not. Canada more dangerous than Ecuador? Cool story bro, bet he hasn't been to either of thinks that's remotely feasible.
And my FAVORITE
I guess you can't be profitable without being penetrated first….
oldarmy1 said:A collapse in new car prices is coming. This will be a bust never ever seen before. We taking about 25% car price cuts for new cars from Ford Bronco to Toyota Taco to EV.
— trader (@TicTocTick) April 26, 2024
If you are in market for new car, wait. You will thank me later.
That's bull****
Car prices might stop rapidly increasing, but they aren't going down 25%, ever. That is laughably stupid.
My advice: if you need a new car, buy a new car. There are plenty of deals to be had.
I'll buy 6 used cars before paying new prices. Buy a car to bridge you till prices come down, or fix existing vehicle.
I bought a 2024 Lexus RX350H 3 weeks ago, they had a few used ones on the lot and those <10K miles were priced close to new. I asked for a specific color and was told I'd have to wait until June. Now I could have picked up an F-150 Lightning with a $15K price cut, but I wasn't interested. Daughter in law picked up a new Bronco for $62K, she said a used one was $58K, same package. I've always wondered why anyone would trade in a car with <10K miles on it. Lemon?
many people love to make stupid financial decisions
Not bagging on you, OP, but this same question has asked on Texags every couple of months for the last few years. It always seems like the "bubble is about to burst so hold off on that purchase and thank me later". Hasn't happened yet. I'm in the same boat as you, though.
Same people have been saying since 2016 that the stock market was poised to crash. It's up like 130% since then and that includes Covid.
JustPanda said:
Same people have been saying since 2016 that the stock market was poised to crash. It's up like 130% since then and that includes Covid.
Timing a top is impossible. That said, many see the writing on the wall but fail to understand the complexity of markets and economic conditions, especially in the face of truly unprecedented financial conditions where looking back at history can only show you times that rhyme, like tomato and potato.. both can be round and can be the same size, but they are not the same. Observing and tasting one will not forecast what the other might look like or taste like, despite their similarities. Sure, the good times can always roll on. But if you aren't prepared for the bad times, then you are truly risking all the gains. Those who have shorted have been made to look stupid outside of relatively small blips here and there. At the same time, those who went long in January 2000 were wiped out and did not recover on an inflation adjusted basis until 2015. 15 years of nothing to show for their investment. Enjoy the good times.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
Possibly. But I have seen it happen twice when the husband died with a newer vehicle and his spouse traded it (both times the guy bought a big pickup) on something she preferred to drive size-wise. And my cousin was putting his boat on a trailer in a bad storm, a couple of huge waves rolled in and filled the cab up to the seat with salt-water which drained right out. He dried out the inside and then traded it in on another pickup.OldArmyCT said:
I've always wondered why anyone would trade in a car with <10K miles on it. Lemon?
My coworker bought one of these amazing 1-2 year old <10k mile cars. It was an old lady who just never drove anymore.....one safe place said:Possibly. But I have seen it happen twice when the husband died with a newer vehicle and his spouse traded it (both times the guy bought a big pickup) on something she preferred to drive size-wise. And my cousin was putting his boat on a trailer in a bad storm, a couple of huge waves rolled in and filled the cab up to the seat with salt-water which drained right out. He dried out the inside and then traded it in on another pickup.OldArmyCT said:
I've always wondered why anyone would trade in a car with <10K miles on it. Lemon?
It's been in the shop 6 times in less than a year. He's contacted the manufacturer to try to return it and they've declined so has been working with a lawyer for lemon law. Jeep/Stellantis offered him $5k to keep the car and not be able to claim lemon law but he declined. He just wants them to pay as much as possible at this point, even if it means a chunk going to lawyers.
one safe place said:Possibly. But I have seen it happen twice when the husband died with a newer vehicle and his spouse traded it (both times the guy bought a big pickup) on something she preferred to drive size-wise. And my cousin was putting his boat on a trailer in a bad storm, a couple of huge waves rolled in and filled the cab up to the seat with salt-water which drained right out. He dried out the inside and then traded it in on another pickup.OldArmyCT said:
I've always wondered why anyone would trade in a car with <10K miles on it. Lemon?
My dad sold his 2017 F-150 with 15,000 miles on it last year to the dealer when values were really high, then leased a loaded new one with an inflated residual and implied interest rate of near zero. He's going to end up making out like a bandit and someone is going to get a great truck. But I can't believe that's a common situation.
I'm deciding on new tires and two more years on my F-150 or a new ZR2. I was hoping to see big discounts by now, but nope!
Yeah, I'd say that's not common. My wife used to lease, but that changed around 2022....Pinochet said:one safe place said:Possibly. But I have seen it happen twice when the husband died with a newer vehicle and his spouse traded it (both times the guy bought a big pickup) on something she preferred to drive size-wise. And my cousin was putting his boat on a trailer in a bad storm, a couple of huge waves rolled in and filled the cab up to the seat with salt-water which drained right out. He dried out the inside and then traded it in on another pickup.OldArmyCT said:
I've always wondered why anyone would trade in a car with <10K miles on it. Lemon?
My dad sold his 2017 F-150 with 15,000 miles on it last year to the dealer when values were really high, then leased a loaded new one with an inflated residual and implied interest rate of near zero. He's going to end up making out like a bandit and someone is going to get a great truck. But I can't believe that's a common situation.
We were returning a leased car with a residual of $40k and actual value was $60k. Sticker price of the new car was $10k higher than her's 3 years prior (same model, package, etc.). Yet, the residual on the new lease was still $40k. They were 100% baking in that higher prices were a blip and they would return so all that depreciation was in the lease. We stopped leasing at that point, used her $20+k of equity and bought something.