Car Market Crash Deal MEGATHREAD

[shakalaka]

So I am looking to unload my dad's 2022 F150 Limited. Fully loaded, was $106K out the door. 1 year into the 4 year lease, the dealer did say initially that when he gets the Raptor (which is arriving in a couple weeks) they would take the Limited back at break-even and we are waiting to hear back but I have a feeling they aren't going to do that knowing how dealers operate. They suggested they can put it on this portal that gives options to auction and bids in the US so we will see how it goes.

If someone wants a lease take over for remaining 3 years, it's at 3.9% with payments of around $1400/month. 11K km's on it so far and 64K allowable. Has a hard tonneau cover, undercoating, full front end 3M, bed liner etc. Can also be bought-out and sold outright (likely under/around $85K but will need to wait for figures from dealer). Good deal if someone is in the market either for payments or cash purchase as the cheapest used 2022 Limited I see is listed is $95K+GST with almost 11K km's.

[killramos]

1400 a month. Didn’t realize he was leasing a home

[Buster]

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So I am looking to unload my dad's 2022 F150 Limited. Fully loaded, was $106K out the door. 1 year into the 4 year lease, the dealer did say initially that when he gets the Raptor (which is arriving in a couple weeks) they would take the Limited back at break-even and we are waiting to hear back but I have a feeling they aren't going to do that knowing how dealers operate. They suggested they can put it on this portal that gives options to auction and bids in the US so we will see how it goes.

If someone wants a lease take over for remaining 3 years, it's at 3.9% with payments of around $1400/month. 11K km's on it so far and 64K allowable. Has a hard tonneau cover, undercoating, full front end 3M, bed liner etc. Can also be bought-out and sold outright (likely under/around $85K but will need to wait for figures from dealer). Good deal if someone is in the market either for payments or cash purchase as the cheapest used 2022 Limited I see is listed is $95K+GST with almost 11K km's.

Dude, you never stood a chance.

[shakalaka]

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1400 a month. Didn’t realize he was leasing a home

Lol his home's 'lease' would be way more than $1400 at 3M+ value but it's paid off.

@ES corporation related and many other benefits.

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Dude, you never stood a chance.

From my perspective if someone was in the market and they are paying $10K-$15K less than market value - I'd be jumping on the deal.

[Buster]

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From my perspective if someone was in the market and they are paying $10K-$15K less than market value - I'd be jumping on the deal.

No, I mean YOU never stood a chance in terms of your car flipping addiction thing. Kids of addicts often turn into addicts.

[bjstare]

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Lol his home's 'lease' would be way more than $1400 at 3M+ value but it's paid off.

@ES corporation related and many other benefits.

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From my perspective if someone was in the market and they are paying $10K-$15K less than market value - I'd be jumping on the deal.

Perhaps a stupid question, but if it’s that good of a deal, why aren’t you / your dad buying it out and flipping it?

[killramos]

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Perhaps a stupid question, but if it’s that good of a deal, why aren’t you / your dad buying it out and flipping it?

Shak doesn’t buy anything outright, it’s all a house of cards of payments.

[shakalaka]

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No, I mean YOU never stood a chance in terms of your car flipping addiction thing. Kids of addicts often turn into addicts.

Oh. Haha. Actually it's the other way around. I think I've influenced him over the later years. He's always had 4+ vehicles at any given time but long term holds. Example his Merc E class convertible is coming up to 8 yrs or so. For the couple of main vehicles he always did 3 year leases and then switched. I've never kept anything over a year and a month so far, haha. Jeep will be first to beat that and not due to my desire to want to keep it. lol

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Perhaps a stupid question, but if it’s that good of a deal, why aren’t you / your dad buying it out and flipping it?

Basically for the lack of wanting to bother or deal with the hassle I guess. Him and I are both pretty busy so doesn't make sense to deal with the hassle over 10K-15K.

[ExtraSlow]

The dealership can help handle that hassle for the $15k, don't sweat it baller.

[shakalaka]

If the dealer breaks him even then he doesn't care. But I have a feeling they will lowball even more knowing how greedy they generally are and he's not the type that's ok with losing $ on vehicles unlike me. Haha.

[bjstare]

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Basically for the lack of wanting to bother or deal with the hassle I guess. Him and I are both pretty busy so doesn't make sense to deal with the hassle over 10K-15K.

It's probably cumulative <5h of work. Idk what your dad does to net $2-3k/hr, but I want in.

I very much relate to not wanting to deal with the hassle, and paying a premium for that, but sometimes it's worth it.

[brucebanner]

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Haha at first I was like why even post it!

I could jam some car seats in that puppy though.

It would be a great family hauler!

[shakalaka]

@bjstare

Lol you can definitely do what he does once you have done 15+ yrs of schooling to become a head/neck surgeon and then have multiple medical practices/other businesses.

In all honesty, I know he's not going to do shit about this himself and it's all going to fall on me and I really don't want to deal with the hassle. But since we've got 2 weeks or so still, I might just throw it up on Kijiji officially on his behalf and see if there any takers.

A few years back, his Range Rover Autobiography lease was up and after doing the research the dealer was willing to take the vehicle back for what he owed plus give him a little on top but I listed it $10K cheaper than the market as his owing was way lower and it sold overnight. I woke up to 14 messages and the first person to message showed up. Buyer saved $10K from the market value and my dad got $10K more than what the dealer was offering.

I didn't get shit. lol.

[bjstare]

Haha fiddlesticks, I'm both too old to do that, and grossed out by surgery. I no longer want in

[ExtraSlow]

Necks are gross.

[corsvette]

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Are you finding the same issue I am? Book values are way lower than actual selling prices for trucks in the US in 2023.

Pretty much lol. Hard to put any stock in book prices at all. Nov/Dec the market here was flooded and dealers were taking huge hits to offload high end trucks, a few months later we're averaging about $4700 more across the auction block for trucks in general. I still think a huge recession is closing in and values/demand will tank in 2023.

[Buster]

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Pretty much lol. Hard to put any stock in book prices at all. Nov/Dec the market here was flooded and dealers were taking huge hits to offload high end trucks, a few months later we're averaging about $4700 more across the auction block for trucks in general. I still think a huge recession is closing in and values/demand will tank in 2023.

What gave you that idea? lol. I'm buying exotic cars because they are completely recession proof.

[killramos]

What kind of black magic is that chart?

Did you check it against TA?

[bjstare]

I’m more interested in what @Misterman says. When’s the recession coming, are all the signs here yet?

[Buster]

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I’m more interested in what @Misterman says. When’s the recession coming, are all the signs here yet?

You just need to assess your risks and look at the data.

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What kind of black magic is that chart?

Did you check it against TA?

Fibonacci says we're fucked