When do you think the crazy car market will settle down?

[A1lthatrema1ns]

I was looking at Lexus too a while back and asked around. You can order anything you want with lead time around 3 months. Right now the factory is just focusing on churning out volume sellers like the RX to conserve resources.

I've been looking for an IS350 F Sport with specific options, and if I build one brand new my quote off the website is $55k....the guy i've been working with at my local Lexus called me and told me they got one in with the specs I want, but not the exterior color or interior i wanted....it's a 2022 with 3k miles on it, and have it priced at $54,910........................................... ...............phuck

[freeburn]

Toyota near me putting a 1595 markup on the Carolla gr but you get the blah blah diamond ceramic coat

[HtotheOV]

Toyota near me putting a 1595 markup on the Carolla gr but you get the blah blah diamond ceramic coat

to be honest, if the $1,595 markup on a GR is real then I would run at that fast as hell. those things are going to be marked up over $10K at least.

[Azzurri]

Toyota near me putting a 1595 markup on the Carolla gr but you get the blah blah diamond ceramic coat

Ehh that's actually pretty good. You could probably flip it for 5-10k easy if you're douche

[A1lthatrema1ns]

Was at my local Lexus dealership yesterday...they had a used 2022 IS 350 F Sport for sale with all the bells and whistles...listed at $54k....3k miles on it already. They wouldnt budge more than $52.5k....saw that they had a brand new 2023 coming in with almost the exact same build out, minus navigation and triple beams for $51k....so i put a deposit down on the new one lol

[greenleaf]

The tide is turning...



New cars are finally back in stock — but Americans might not be able to afford them

The Federal Reserve has aggressively increased interest loan rates to combat record inflation.

That means higher car financing costs, which could leave the auto industry facing a demand problem.

The shift comes just as new cars are slowing becoming more widely available as supply chain bottlenecks ease.

https://www.cnbc.com/2022/10/07/new-...eep-price.html

[Destor]

Was at my local Lexus dealership yesterday...they had a used 2022 IS 350 F Sport for sale with all the bells and whistles...listed at $54k....3k miles on it already. They wouldnt budge more than $52.5k....saw that they had a brand new 2023 coming in with almost the exact same build out, minus navigation and triple beams for $51k....so i put a deposit down on the new one lol

Why wouldn't they budge? Likely because the dealership themselves massively overpaid while prices were shooting up, and those dealerships will not cut prices on those vehicles until it's absolutely necessary.

These companies are also already trying to front-run with hugely reduced trade-in values, like 25% drops since the numbers I was seeing during the peak



The pendulum swung hard in one direction during the market craziness, it's about to swing back hard in the opposite direction

[EnderG60]

I knew this crap would take 2 years to pass. One year for production to catch up, one year for supply to come back and prices to fall. Its happening right now. Prices are falling and fast. I still wouldnt buy for another 6 months but its looking good.

Hell its looking so good that over the next year you will probably see 1/3 or more dealerships close and the auto industry will probably need another bail out with in 2 years.

Cant wait to see the havoc.

[jamalfudge]

Why wouldn't they budge? Likely because the dealership themselves massively overpaid while prices were shooting up, and those dealerships will not cut prices on those vehicles until it's absolutely necessary.

These companies are also already trying to front-run with hugely reduced trade-in values, like 25% drops since the numbers I was seeing during the peak



The pendulum swung hard in one direction during the market craziness, it's about to swing back hard in the opposite direction

Saw this vid last week, not taking everything he says as gospel but think he does have a pretty good reputation. I've heard bits and pieces over the last few weeks that seem to verify what's going on:



Cliffs:

Banks are stuck with cars they have repo'd and can't sell and may be desperate to unload them soon.

Dealers are under water on loans they take out to purchase vehicles.

[_zman]

Prices continuing to come down for the vehicle I'm hoping to buy. Leases are expiring and people likely can't afford the interest rates. I'm seeing around a 10% drop over the last week. They've almost normalized based on my records from 2020. I think I may wait until Dec/Jan when people want to really move cars. I think Dec might be the best month for that?

I think they could come down even further, but at the current rate I've already saved $5k from the peak by waiting, realistically I'll save $6-7k come Dec/Jan.

[A1lthatrema1ns]

Why wouldn't they budge? Likely because the dealership themselves massively overpaid while prices were shooting up, and those dealerships will not cut prices on those vehicles until it's absolutely necessary.

These companies are also already trying to front-run with hugely reduced trade-in values, like 25% drops since the numbers I was seeing during the peak



The pendulum swung hard in one direction during the market craziness, it's about to swing back hard in the opposite direction

They essentially said that they paid a certain price which didnt allow them to have much wiggle room. They also told me they felt confident that they could sell the car before having to drop the price further....the car sold 3 days later at full ask to a highschooler whos mom paid full price....this was a fully loaded 2022 IS 350 F Sport btw....$60k OTD

[Archaic2021]

Stimmy ballers getting repod left and right, even prime credit peeps getting repod. Avg car payment of a repo is $800 per month

The fact that people are paying $800 for a depreciating asset is insnane.

...but but cars worth more right now....yeah right now...this market is correcting itself slowly.

[litljay]

Not seeing much change around here yet.

Stopped by MB dealership last week to look around with wifey. Every SUV had a $10k "market adjustment" added to MSRP. The GLE something AMG had a $30k mark up ($130k -> $160k).

There were people on the lot test driving cars too. At least another 6 months around here I think.

[headturner1]

Now we wait.. looking for a used rav4 (not for me), but these things just won’t come down..

[_zman]

Now we wait.. looking for a used rav4 (not for me), but these things just won’t come down..

Toyota / Lexus, are probably the most likely to hold their value well beyond what they're worth.

[headturner1]

Toyota / Lexus, are probably the most likely to hold their value well beyond what they're worth.

Can confirm.. I’ve had Lexus cars for the last 15 years, but I’m stupid like that

[MikeLowrrrey]

I'm in poverty mode, so my options are very limited. I mean I can afford a $600 note, but don't want one. It's stupid in my eyes. Wish these cars would come down

I've been eyeing 2015 Genisis 5.0. Not the sport car I want, but they're damn cheap.

[MikeLowrrrey]

Toyota / Lexus, are probably the most likely to hold their value well beyond what they're worth.

Lexus holds value retard strong. Look up a 2008 ISF with decent mileage. $40k all day long.

Who wants to spend $40k on 2008 tech?

[_zman]

Lexus holds value retard strong. Look up a 2008 ISF with decent mileage. $40k all day long.

Who wants to spend $40k on 2008 tech?

I was considering a NX200t or NX300 F-Sport for a bit. They haven't changed price in 3yrs. Interior too small and cheap compared to the competition, not much power etc, so no bueno for me. Gonna spend more for something better/newer.

[A1lthatrema1ns]

I was considering a NX200t or NX300 F-Sport for a bit. They haven't changed price in 3yrs. Interior too small and cheap compared to the competition, not much power etc, so no bueno for me. Gonna spend more for something better/newer.

the NX is super small and compact....when i started looking at new Lexus, i loved the look of the UX F Sport...then i saw it in person and realized it's literally a clown car....got in an NX and not much different. Ive been driving an RX for about a year so im very used to the size but im just gunna go get an IS 350 F Sport when i can get the color and options i want(which has been impossible).

[headturner1]

Lexus holds value retard strong. Look up a 2008 ISF with decent mileage. $40k all day long.

Who wants to spend $40k on 2008 tech?

Literally can confirm.. 2009 ISF. It’s “valued” higher than it did almost seven years ago when I bought it.

The tech is old af, but the engine sounds are what had me sold, plus Lexus fanboy

[greenleaf]

Looks like it's getting there sooner than you think LOL...




Carvana stock tanks in continued sell-off

Shares of Carvana have plummeted by 97% this year after reaching an all-time intraday high of $376.83 per share on Aug. 10, 2021. The stock on Monday hit an all-time low of $6.68 per share, though it slightly recovered in the first hour of trading to about $7.50 a share, off roughly 14%.

https://www.cnbc.com/2022/11/07/carv...-sell-off.html

[_zman]

Looks like it's getting there sooner than you think LOL...




Carvana stock tanks in continued sell-off

Shares of Carvana have plummeted by 97% this year after reaching an all-time intraday high of $376.83 per share on Aug. 10, 2021. The stock on Monday hit an all-time low of $6.68 per share, though it slightly recovered in the first hour of trading to about $7.50 a share, off roughly 14%.

https://www.cnbc.com/2022/11/07/carv...-sell-off.html

So happy I didn't buy that stock.

I was seeing prices for $40k on the car I want. Now seeing them regularly at 34-35k, even 32k. Prices are plummeting over the last 4-5 weeks.

[greenleaf]

Systematic supply chain sabotage? So much BS to keep prices inflated...







From Teslas to BMWs, cars are piling up on land and at sea in German port of Bremerhaven

The German Port of Bremerhaven, Europe’s fourth largest and an auto hub, is seeing so much congestion due to driver shortages and overall trade volume that cars are piling up on land and at sea.

Tesla, Chrysler and Jeep parent company Stellantis, Renault, BMW and Volvo are all impacted.

Leading vehicle carrier Wallenius Wilhelmsen has refused auto exports for October and November, and possibly into December.

https://www.cnbc.com/2022/11/07/from...rman-port.html

[5x10]

[jamalfudge]

Looks like it's getting there sooner than you think LOL...




Carvana stock tanks in continued sell-off

Shares of Carvana have plummeted by 97% this year after reaching an all-time intraday high of $376.83 per share on Aug. 10, 2021. The stock on Monday hit an all-time low of $6.68 per share, though it slightly recovered in the first hour of trading to about $7.50 a share, off roughly 14%.

https://www.cnbc.com/2022/11/07/carv...-sell-off.html

I sell insurance and had one guy a year ago go through 3 lemons from Carvana after saying he had a great experience a couple years prior. Same guy went through same thing earlier this summer. My initial thought putting 2 and 2 together was the high demand for used cars was putting a high number of lemons in circulation. Saw an article a few weeks ago about how Carvana is just a shit ran company. I'm sure their performance is a factor but wouldn't say it's wholly indicative. Been keeping an eye on Mavericks as I've said before ITT and they're coming down in price but even used are still over MSRP asking price.

[greenleaf]

Auto loan delinquencies rise as loan-accommodation programs end

A growing percentage of Americans with auto loans are struggling to make their monthly payments.

Subprime borrowers in particular are feeling the impact of higher prices for both new and used vehicles.

The rise in delinquencies also follows the end of loan-accommodation programs set up during the pandemic.

"TransUnion, which tracks more than 81 million auto loans in the U.S., said Tuesday the percentage of loans that are at least 60 days delinquent hit 1.65% in the third quarter, the highest rate for 60-day delinquencies in more than a decade"

https://www.cnbc.com/2022/11/08/auto...rams-end-.html

[Archaic2021]

Trying to find a new SI all dealers are "market adjusting" up to 4k. But can get a new wrx for msrp.

[Krackerjacked]

Trying to find a new SI all dealers are "market adjusting" up to 4k. But can get a new wrx for msrp.

Buddy sent me a pic from Northside Ford in SA
F250 with an msrp of 86k
$2,469 add on for a protection package that includes likely a spray on ceramic coat, tint and window etching
Then another $15k market adjustment.

I hope they go under srs

[5x10]

Probably gonna buy a Buick park avenue for my daughter
04, 97k miles, they want 6k , if it’s nice, I’ll offer 5k
If things were normal, this is a $3k car