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| Topic | used cars seem overpriced |
| 1337toothbrush 04/14/24 9:06:48 PM #10: | archizzy posted...
It blows my mind what has happened to vehicle prices. Used and new.Two things happened. First is that auto loans have been heavily relied upon to sell vehicles, a significant number of these are subprime loans with very long terms to get the monthly payment "affordable", and this has been happening since before the pandemic. The second is that the pandemic gave the auto companies record profits since they could sell fewer vehicles for much higher prices because of the "chip shortage" and general "supply issues" giving them an excuse. It was initially legitimate, but they've gotten so used to such high profit margins and are unwilling to drop prices. There is now over $1.5 trillion in auto loans out there: https://fred.stlouisfed.org/series/MVLOAS https://gamefaqs.gamespot.com/a/forum/4/497bd26a.png Just another component of the everything bubble. --- https://imgur.com/a/FU9H8 - https://i.imgur.com/ZkQRDsR.png - https://i.imgur.com/2x2gtgP.jpg ... Copied to Clipboard! |
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