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

[underbak]

not bad

[greenleaf]

Carvana to lay off 1,500 employees following stock freefall

Carvana plans to lay off about 1,500 people, or 8% of its workforce, following a freefall in the company’s stock and concerns around its long-term trajectory

https://www.cnbc.com/2022/11/18/carv...ertainty-.html

[ymer]

The house of cards is collapsing, coming January the dealers won't be able to bluff anymore, chit is fuked beyond repair.

[ChaoticReignPbt]

Market has stayed pretty hot for enthusiast type vehicles but it's definitely cooling down on the grocery getter types.

[MikeLowrrrey]

Everything is high, sucks. I was looking at 6th gen Camaro SS, but they're still too high. I could maybe swing a LT1 but I'm still looking at a big car note

[i3oosted]

Everything is high, sucks. I was looking at 6th gen Camaro SS, but they're still too high. I could maybe swing a LT1 but I'm still looking at a big car note

but they aren't selling as good as before. % rates from banks are higher so no one wants to take high % loans on cars unless needed.

[MikeLowrrrey]

but they aren't selling as good as before. % rates from banks are higher so no one wants to take high % loans on cars unless needed.

I'll just keep driving my crappy Lexus and keep saving for the time being. I wonder how long we'll have to wait

[EnderG60]

The house of cards is collapsing, coming January the dealers won't be able to bluff anymore, chit is fuked beyond repair.

Prices are starting to fall, supply chain is almost back to full force and dealers are stuck with cars they overpaid for.

I really cant wait to see how many dealers go out of business.

[MikeLowrrrey]

Prices are starting to fall, supply chain is almost back to full force and dealers are stuck with cars they overpaid for.

I really cant wait to see how many dealers go out of business.

I'm not getting my hopes up, but hopefully this becomes the case would be nice to get a slightly used 1SS for low 30s

[freeburn]

A few months ago I test drove a 2022 wrx and a 2022 brz.

They were both pretty fun cars but I really loved the brz for rwd

I didn't want to commit to ordering a new one and waiting 6 months. The one I drove was a base model so I wasn't into it other then the test drive.

My same subaru dealer gets a 2k odometer 2022 gr86 premium. No price listed online so I call to see what's up

They say 40k. I laugh. No thanks brotato I'll check back in a few months when you don't sell it.

Today the same car is marked to 36.5 and its been like 8 weeks or so.

I kinda wanna call and say I told you so, but I think I'll wait til I see it at 35k

[greenleaf]

Carvana to lay off 1,500 employees following stock freefall

Carvana plans to lay off about 1,500 people, or 8% of its workforce, following a freefall in the company’s stock and concerns around its long-term trajectory

LOL



Carvana Faces Cash Crunch From High Debt, Rising Interest Rates

Carvana Co., the used-car dealer that was a pandemic winner, is rushing to conserve cash as once-plentiful financing options dry up and business deteriorates.

On Friday, Carvana laid off about 1,500 people, its second round in six months. Its weakening finances mean raising funds would be difficult and costly, and it could run out of cash in a year, analysts say.

Few companies have been hit harder by rising interest rates than Carvana. The company’s interest expense nearly doubled early this year when it paid up to get financing for an acquisition. Its cost to finance car purchases is up by three-quarters this year, and some of its real estate has lost value. Car buyers, meanwhile, are holding off purchases in the hope that rates fall.

https://www.wsj.com/articles/carvana...es-11668945341

[mgftp]

Used car market is still brutal. Kind of had a need for a shared for when needed but barely used vehicle for my house for awhile now. Just can't find anything decent for under 15k, so I keep thinking may as well just buy a low end used vehicle for under 25k, of course would have to find a dealer not marking up. A brand new 5 door Imprezza or Corola Cross for under $25k seems to be a smarter buy than something 10 years old with 50-100k miles for nearl $20k? Have never been a fan of buying new cars, but value just seems to make sense right now, especially if they will over pay on a trade-in.

[Krackerjacked]

Used car market is still brutal. Kind of had a need for a shared for when needed but barely used vehicle for my house for awhile now. Just can't find anything decent for under 15k, so I keep thinking may as well just buy a low end used vehicle for under 25k, of course would have to find a dealer not marking up. A brand new 5 door Imprezza or Corola Cross for under $25k seems to be a smarter buy than something 10 years old with 50-100k miles for nearl $20k? Have never been a fan of buying new cars, but value just seems to make sense right now, especially if they will over pay on a trade-in.

Buying new is probably still the move if you definitely need something. Find something that should hold its value and go for it.
Would rather buy a new car with warranty for 20k than a used one with 60k for 18k, know what I mean?

[mgftp]

Buying new is probably still the move if you definitely need something. Find something that should hold its value and go for it.
Would rather buy a new car with warranty for 20k than a used one with 60k for 18k, know what I mean?

Yea, it makes sense given the circumstances. Just seems insane to buy a new car that will be driven 2k miles a year. What a world we are living in.

[Krackerjacked]

Yea, it makes sense given the circumstances. Just seems insane to buy a new car that will be driven 2k miles a year. What a world we are living in.

Agreed
Outside of end of year deals with huge discounts it never made sense to buy new imo

[Archaic2021]

Still kinda looking for a new WRX or Si..maybe something different. The way things are going looks Like I'll be driving my 97 Honda until end of next year. So ready to pull the trigger but I feel like another 6 months and things will be back to normal for good at least for new vehicles.

I work in Parts and supply chain for parts is no where normal.

[_zman]

Used car market is still brutal. Kind of had a need for a shared for when needed but barely used vehicle for my house for awhile now. Just can't find anything decent for under 15k, so I keep thinking may as well just buy a low end used vehicle for under 25k, of course would have to find a dealer not marking up. A brand new 5 door Imprezza or Corola Cross for under $25k seems to be a smarter buy than something 10 years old with 50-100k miles for nearl $20k? Have never been a fan of buying new cars, but value just seems to make sense right now, especially if they will over pay on a trade-in.

Get an 07-08 Acura TL. I've had mine with basic maintenance from 75k to 155k for 8 years now. Bar none best car I've owned. Find one with low miles and you shouldn't be disappointed. People regularly drive these for 300k. Check the condition of the leather seats. Mine are perfect, but it's the weak point. 80% have rips and tears.

[Krackerjacked]

Get an 07-08 Acura TL. I've had mine with basic maintenance from 75k to 155k for 8 years now. Bar none best car I've owned. Find one with low miles and you shouldn't be disappointed. People regularly drive these for 300k. Check the condition of the leather seats. Mine are perfect, but it's the weak point. 80% have rips and tears.

TLs are solid cars. Do those years still have trans issues or is that just the first generation?

[mgftp]

Unless it's a steal I'd prefer a hatch of some sort, probably small to midsize SUV. Ideally would like a Lexus RX. Funny you mention the TL as I just looked at a MDX but is was crap condition for the money, 70k miles, 2012, and nearly 20k. That's the example that just males me think buying new is the answer. Used car market is insane right now. A corporate lease vehcile just went up for sale at my employer, base model Explorer with 70k for $25k, insane.

[Ramoneb87]

It's supposed to crash soon. Sales are going stagnant, problem is dealerships paid high prices and for now refuse to sell at a loss. They also are fully aware people are sitting on cash waiting for the crash

[SipNPiz]

It's supposed to crash soon. Sales are going stagnant, problem is dealerships paid high prices and for now refuse to sell at a loss. They also are fully aware people are sitting on cash waiting for the crash

Inb4 their flooring creditors don’t force liquidate them

[_zman]

TLs are solid cars. Do those years still have trans issues or is that just the first generation?

Very solid yes. Well-built car. From what I've read that problem was solved '05+. I don't love the shifting of mine going into 3rd since I've had it, yet it's never let me down, and manual shifting it solves that problem. I've changed the fluid 2x in the time I've had it. Once you change the timing belt at around 100k, the car shouldn't need much done to it.

I doubt there's many cars that are a better value in their price range.

[Krackerjacked]

Very solid yes. Well-built car. From what I've read that problem was solved '05+. I don't love the shifting of mine going into 3rd since I've had it, yet it's never let me down, and manual shifting it solves that problem. I've changed the fluid 2x in the time I've had it. Once you change the timing belt at around 100k, the car shouldn't need much done to it.

I doubt there's many cars that are a better value in their price range.

That gen Type S is a very aesthetic car.

[_zman]

That gen Type S is a very aesthetic car.

Yeah, was recently very tempted to pick one up in a manual, but I'm opting for a newer Acura SUV, the RDX A-Spec for camping and touring purposes.

[Krackerjacked]

Yeah, was recently very tempted to pick one up in a manual, but I'm opting for a newer Acura SUV, the RDX A-Spec for camping and touring purposes.

I’ve got an 06 gx470 on 35. Perfect for trips minus the fuel economy lol

[litljay]

Sold wife's '17 Yukon and bought a '22 Audi Q8.

Sell story: Wifey listed it on car gurus for $42.5 (according to car gurus current listing price for same/similar cars was $44k). Got some tire kickers but nothing serious. Did the KBB instant cash offer. Got calls from 2 dealerships to bring it in and they would look at it. One offered $35k and the other offered $34k. Neither seemed real eager to buy anything right now. Took it to Car Max and got an offer for $28k. Told wifey to drop the price on cargurus to $40k to see if we can get ahead of the retail market. Sold it the next day.

Buy story: Wifey was pretty picky with exterior and interior details. Wanted white or silver with brown interior and S line. There were only 4 cars in Cali matching her description. Sent emails to the dealerships asking for best offer OTD. Dealership in Santa Barbara came in $2k under msrp and we jumped on it.
I honestly thought we were going to pay MSRP.

[Austanian]

Was finally able to pick up a good deal on an upgrade. Sold my Honda Fit with 156k miles for $5000, and my 1999 Acura CL3.0 with 80k miles for $4000.

Got a 2012 g37x coupe fully loaded with <50k miles on it for 17k.

[mgftp]

I’ve got an 05 gx470 on 35. Perfect for trips minus the fuel economy lol

Mirin' ... pics?

[Krackerjacked]

Mirin' ... pics?

It’s old lady gold so I call it Olga lol







The wheeling pics were at hidden falls, I was rolling with my buddy and their gladiator on 37s with 5.13 gears. The GX did super well lol

[mgftp]

Thanks for sharing ^ Love the front you have on it and I just love GXs and LXs. That vehicle will probably outlive you if cared for well.