[Chazzz]

Originally Posted by adamcars

I sold my 2020 Spark LS back in February for $10,800 to Carvana and was happy with that. I should have waited until now! That is insane!!!!

I hear ya... If only I knew then how nuts things were going to get I would've bought 2.... LOL

[Chazzz]

Vroom has quite the huge Camaro collection for sale. In these crazy times I’ve gotta wonder what happens if and when this used car bubble bursts and summer winds down. I’ve been reading forecasts that auction prices are leveling off and the used car bubble may burst soon...

[ZX-10R]

Originally Posted by Chazzz

...the used car bubble may burst soon...

...and housing bubble....and dollar bubble

I know, doom and gloom, but the next crash will probably make 2008 look like a picnic, and the Federal reserve isn't going to be able to bail anyone out next time

$62k for my 2019 with 7k miles - pretty tempting considering I paid $54k and how often do you make money on anything with wheels on it?

I should have kept my S2000 - those things are insane

[PROMETHEUS]

Originally Posted by ZX-10R

...and housing bubble....and dollar bubble

I know, doom and gloom, but the next crash will probably make 2008 look like a picnic, and the Federal reserve isn't going to be able to bail anyone out next time

$62k for my 2019 with 7k miles - pretty tempting considering I paid $54k and how often do you make money on anything with wheels on it?

I should have kept my S2000 - those things are insane

+1 my concern exactly....however I think the housing market, real estate agents in bed with financial institutions were the biggest culprit of the 2008 disaster. But I agree with you, it is only a matter of time before things begin to correct themselves.

[Snowwolfe]

What I see coming is this: Once the chip shortage is over there will be a huge number of people who will be "upside down" on their vehicle loans. This will start a chain effect as many owners will simply walk away and stop paying on them. Those that don't will be stuck making payments for years longer than they anticipated which will prevent them from upgrading into a newer vehicle slowing down sales even more.

[Big Lebowski]

Originally Posted by Snowwolfe

What I see coming is this: Once the chip shortage is over there will be a huge number of people who will be "upside down" on their vehicle loans. This will start a chain effect as many owners will simply walk away and stop paying on them. Those that don't will be stuck making payments for years longer than they anticipated which will prevent them from upgrading into a newer vehicle slowing down sales even more.

Lol. Doubtful. In the history of car loans, almost everyone is upside-down…and there was no mass walk-away from cars or the loans.

As the market equalizes, all this will mean is people will have less equity. Life will go on. Bills will be paid. No doom and gloom.

[sandm]

Originally Posted by Big Lebowski

Lol. Doubtful. In the history of car loans, almost everyone is upside-down…and there was no mass walk-away from cars or the loans.

As the market equalizes, all this will mean is people will have less equity. Life will go on. Bills will be paid. No doom and gloom.

so true. people know it's a 5, or 7 year note and it doesn't change so not like it'll be extended. people will be upside down for a lot longer which will either roll more negative into another car or put off the sale a little longer. either way there's enough out there that have equity and as prices and more importantly inventory get back to whatever normal is going forward the market will move on.

[Snowwolfe]

We agree to disagree. I see this as a start of a serious drain on our economy. Add in higher interest rates which have to happen soon and there is only so much "upside down" finance lending companies will stomach. For each 1% rise in interest rates it will also result in a 10% loss on most home values. A combination for a perfect storm.

[Big Lebowski]

Originally Posted by Snowwolfe

We agree to disagree. I see this as a start of a serious drain on our economy. Add in higher interest rates which have to happen soon and there is only so much "upside down" finance lending companies will stomach. For each 1% rise in interest rates it will also result in a 10% loss on most home values. A combination for a perfect storm.

Snow, Beyond your personal car buying habits, that is an outdated view of auto debt financing. Lenders will stomach upside-down loans just fine if there is money to be made. Regardless, I am curious how the heck did you segway from car loans to home values? They are VERY different animals.

[Snowwolfe]

Just tossing out random thoughts. Don’t take my wonderings to seriously.