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Several months ago I read a great article on how the subprime car loans were basically a duplicate of the subprime home loans from around 2008. Ticking time bomb for the people who overextended themselves on a used car.
I bought my F-150 and C6 Corvette prior to COVID. I've watched Gen5 prices and I did slightly overpay for a 2011 2SS Convertible (L99 w/ 5k miles) last month - but it was still $5k cheaper than what I'm seeing them go for on Carvana with more miles.
Speaking of Carvana, I was tempted to short their stock when it was at $35 a few months ago & wish I had. I think their stock will be worthless at some point when they burn their cash, can't get anyone to help, and end up having to file chapter 11. If they're forced to liquidate (which is doubtful IMO) that's 64k cars that could hit the market based on their inventory today.
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