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Car loan defaults


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2 hours ago, racer254 said:

LET'S GO BRANDON

 

Wait, what?  :lol:

C'mon man, are you seriously blaming him for eVEryThInG?  

People need to learn to read what it is they're signing up for, those that can't shouldn't, those that encourage those that can't should STFU. 

Big problem I see is the 'wanters', ex: mid twenties kid that I work with, recently married, new house, new truck, new bass boat, new car all within the past two years.  Debt, debt, debt and debt.  I just shake my head at it but I'm an old fashioned 'saver' who doesn't borrow $ just because I can't control my 'wants'.  

Debt slaves

Welcome to generation 'me'. 

 

 

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2 hours ago, Pete said:

I paid about $16,000 in 1990 for a brand new mustang LX.

 

1 hour ago, ArcticCrusher said:

My 86 gt was 13 Canadian.

I forgot about that....bought an 87 Gt new for 1k over sticker price...I think it was about 15k. The first year of the funky skirts. But I didn't have to pay for that one, got it as a company car:lol:

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1 hour ago, Crnr2Crnr said:

 

Wait, what?  :lol:

C'mon man, are you seriously blaming him for eVEryThInG?  

People need to learn to read what it is they're signing up for, those that can't shouldn't, those that encourage those that can't should STFU. 

Big problem I see is the 'wanters', ex: mid twenties kid that I work with, recently married, new house, new truck, new bass boat, new car all within the past two years.  Debt, debt, debt and debt.  I just shake my head at it but I'm an old fashioned 'saver' who doesn't borrow $ just because I can't control my 'wants'.  

Debt slaves

Welcome to generation 'me'. 

 

 

There was also a time when it was a bit more difficult to get the stuff these young folk are able get today. 

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29 minutes ago, spin_dry said:

Any vehicles involved in auto loan default will be snatched up immediately. 

Vehicles (especially trucks) are usually going for more than what people paid new. Why would you let the thing go into default. Sell it and buy a shit box with the profit.

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1 hour ago, Steve753 said:

Vehicles (especially trucks) are usually going for more than what people paid new. Why would you let the thing go into default. Sell it and buy a shit box with the profit.

The one I don't understand is the person who shows up at a new car lot and buys the used one that is the same price as a comparable spec brand new one. 

Who buys the 1-2 year old trucks and SUV's for the same price as new?

What am I missing out on?

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Just now, racinfarmer said:

The one I don't understand is the person who shows up at a new car lot and buys the used one that is the same price as a comparable spec brand new one. 

Who buys the 1-2 year old trucks and SUV's for the same price as new?

What am I missing out on?

Ya no shit. Fucking themselves out of some factory warranty too.

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12 minutes ago, racinfarmer said:

The one I don't understand is the person who shows up at a new car lot and buys the used one that is the same price as a comparable spec brand new one. 

Who buys the 1-2 year old trucks and SUV's for the same price as new?

What am I missing out on?

Some new vehicles are available by order only. Some new order arrivals are 1 year out. 

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4 hours ago, spin_dry said:

Some new vehicles are available by order only. Some new order arrivals are 1 year out. 

It isn't uncommon to see a 1 year old pickup with 5-10k on it for almost the same price as a brand new one that is sitting on the lot.

It isn't all that common, but not uncommon either.  

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Just now, racinfarmer said:

It isn't uncommon to see a 1 year old pickup with 5-10k on it for almost the same price as a brand new one that is sitting on the lot.

It isn't all that common, but not uncommon either.  

long wait times and dealer mark up are two of the reasons why used vehicles are fetching so much. 

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9 minutes ago, racinfarmer said:

Fuck it.

I'm done.

Similar “20-“21 Ford F-150’s with 20k miles are $10-15k less than the new “22’s around here. Many of the new “22’s are missing key options as well. Like heated seats. 

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27 minutes ago, spin_dry said:

Similar “20-“21 Ford F-150’s with 20k miles are $10-15k less than the new “22’s around here. Many of the new “22’s are missing key options as well. Like heated seats. 

Half tons. Lots of them on lots. All trim levels. There's a shortage of super dutys.

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7 minutes ago, Steve753 said:

Half tons. Lots of them on lots. All trim levels. There's a shortage of super dutys.

Yep. Cargo vans too. Prices are jumping all over. I’ve been looking for one more to covert for another rental. Unless they’re beat to smithereens, prices remain in the 40’s and 50’s. 

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7 hours ago, Steve753 said:

Half tons. Lots of them on lots. All trim levels. There's a shortage of super dutys.

Stopped by a dealer near me that I buy some work trucks off their wholesale line. Wanted to see if they had anything. Was shocked at the low( 2-3 units) of superdutys.

And this place is pretty much a truck dealer. 95 % of their inventory is usually trucks

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