Car Market Crash Deal MEGATHREAD

[bjstare]

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Can anyone be upside down on housing?

That's my point. And I think it would be tough for a homeowner to be net negative overall.

Sure, it would be easy to be net negative for a renter. Maybe there's more renters out there than I thought. I really have no idea, I'm not that type of engineer.

[ExtraSlow]

I'm not amazing at math, but I'm decent at back of the envelope stuff, and anyone who owns a single family home basically has to be positive.

[haggis88]

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Credit card debt? Car debt?

Yes

Unsecured lines of credit, loans on toys (trailers etc)

some are homeowners, some aren't

[pheoxs]

I think today most homeowners are positive but I wouldn't be surprised to see many that have owned for a decade or two are just barely positive equity due to remortgages and helocs. Add in their car payments and they'd be negative.

[max_boost]

if we get a nice crash we will find out lol

[Xtrema]

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I'm not amazing at math, but I'm decent at back of the envelope stuff, and anyone who owns a single family home basically has to be positive.

* In Calgary.

[mr2mike]

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if we get a nice crash we will find out lol

If?
Always a matter of when. The cycle is basically a natural law.
Canada avoided the 2008 crisis and this bubble is 'uge.

[max_boost]

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If?
Always a matter of when. The cycle is basically a natural law.
Canada avoided the 2008 crisis and this bubble is 'uge.

keep dreaming - 89coupe

[mr2mike]

Lol. Enjoy and don't worry about the future! Get the upgraded Porsche.

[KrisYYC]

Only about 53% of all occupied homes in Canada are singe family detached homes. That includes owned homes and rented.

So maybe majority of Canadians being negative net worth is a bit of an exaggeration on my part. But factoring in people who rent, people own condos (which haven't skyrocketed in value like SFH) and how many home owners in Canada use their house as an ATM to "HELOC that shit" I bet the number is higher than we'd expect.

Anyway enough of my thread derailment.

[Darkane]

I’m waiting for a crash. Come on!

I can see it next winter, used 3-4 year old C8 will be 70s.

[mr2mike]

Well, Toyota just pulled a move to keep their vehicle prices and supply lower than demand. Ha, funny.

Admission of messing with safety records for 30yrs.
https://www.cnn.com/2023/12/27/busin...hnk/index.html

[npham]

It's not actually Toyota themselves but a car company (Daihatsu) they bought back in 2016. Still not good for their stock price, but you can still drive your Rav4's without worrying about them being less safe.

[BavarianBeast]

Beat up 2 yr old Huracan EVO spyder hits msrp on auction and has reserve not met.. (seller is an idiot imo)

https://bringatrailer.com/listing/20...huracan-evo-5/

Same hand STO’s are getting bid for significantly under msrp. I always expected this scenario because of the price point of the STO, how close it is to the regular evo rwd minus the crazy body kit and rear wheel steer which is subjective. Also the fact that Lamborghini mass produced them to the point that there are more STOs than any other variant on the market. So if you want an STO, maybes the time. I’m still a huge fan, just not surprised to see how soft prices have got considering the records and the premium.

https://bringatrailer.com/listing/20...orghini-sto-2/

https://carsandbids.com/auctions/3RD...ni-huracan-sto

[mr2mike]

There's been a bunch of bring a trailer cars that don't get past reserve prices.
Rather frustrating for bidders and does BaT actually do anything to prevent no sales on bids?

[killramos]

Supposedly they are supposed to heavily coach sellers who have unrealistic reserve prices.

Though I guess end of the day as long as their fees get paid maybe they dgaf anymore.

[Team_Mclaren]

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There's been a bunch of bring a trailer cars that don't get past reserve prices.
Rather frustrating for bidders and does BaT actually do anything to prevent no sales on bids?

I've heard that they are quite good at setting "realistic" reserves otherwise they wouldnt list at all. Seller/listing fee is pretty low ($99 iirc), they need a sale to make the listing profitable

[max_boost]

Still no Mega deals
I am disappoint

[you&me]

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There's been a bunch of bring a trailer cars that don't get past reserve prices.
Rather frustrating for bidders and does BaT actually do anything to prevent no sales on bids?

Not sure what you mean here...

BAT will continue to try and close a deal between the seller and high bidder(s)... as mentioned, they need the buyer fee to actually make money.

If you mean does BAT do anything to prevent a winning bidder from welching (no sale) on their bids. No. No, they do not. They'll ding the high bidder's CC and that's where their care / involvement stops. You may (or may not) be surprised how many sellers of record breaking cars on BAT still own their cars

[ExtraSlow]

High bidder pays fees either way? And the lister pays listing fee. Nice.