Looks like the car market may have topped out
- Thread starter Flyn
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I expect to see a FLOOD of used cars in 2018/2019 that is going to make the market very interesting. Especially on new cars because dealers won’t move them as easily like past years.
Tons of off leases and certified used are going to plummet with the glut. Or at least that’s my prediction.
Tons of off leases and certified used are going to plummet with the glut. Or at least that’s my prediction.
Doesn't something like this always happen every 1-3yrs and then the used car market prices start soaring due to the lack of people buying new cars? I mean, MOST of us on here know buying a new car you're losing a chunk of value on it right off the bat, so what do we do to combat that? We buy a car that's 1-2yrs old that someone else took that blow for us. What if everyone got wise to that and started doing it? Or as mentioned already, the leasing is going nuts as well.
Meanwhile I was all but mocked for saying over the last few years that we're at peak car ownership levels now. Lots of pain in store for traditional automakers.
Ford just sent a notice out to it's suppliers stating that they're cancelling the Fusion's re-design. Not delaying it, not replacing it... Just "hey guys, that 2020 redesign isn't happening. kthxbye." We're right back to 2005 with SUVs dominating, manufacturers completely ignoring their sedan offerings and sub-prime loans skyrocketing. If only this had happened before so we could see how it ends! Oh wait...
Ford just sent a notice out to it's suppliers stating that they're cancelling the Fusion's re-design. Not delaying it, not replacing it... Just "hey guys, that 2020 redesign isn't happening. kthxbye." We're right back to 2005 with SUVs dominating, manufacturers completely ignoring their sedan offerings and sub-prime loans skyrocketing. If only this had happened before so we could see how it ends! Oh wait...
But this is a little different in that used cars are going to be super saturated as well.
I think manufacturers have pushed the limits of affordability with their continuing price increases. I paid $32,000 for my Terminator Cobra new in 2003, for goodness sake. Now $32,000 barely buys you a run of the mill halfway decent ride. What do similar Mustangs sell for now? Northwards of $50K.
It blows my mind that people have car loans for 60+ months. Especially since it seems everyone I know has car A.D.D. and has a new car every 2-3 years. How do you get ahead of the depreciation? I highly doubt they are giving large down payments or have big equity in their trade in.
Then I hear of people with car payments that sound like a mortgage. One that doesn't seem to match their income at least. i'm not talking a $1,200 payment from someone making $250K a year here.
At some point, it just can't work. Wait till it doesn't work on a large scale.
I think I read a few months back that Ford scrapped a replacement chassis for many of their "world" cars. That might be part of that chassis program. I know the Mustang was slated to be on that chassis as well.
But is all that a bad thing? It's not like they don't have an offer in any segment. Other than a midsize pickup. But I think the Ranger is still coming. So can saving money on redesigns and chassis development mean that will be in trouble? Dodge has had the same cars forever and not sure they have a new chassis coming anytime soon either.
Then I hear of people with car payments that sound like a mortgage. One that doesn't seem to match their income at least. i'm not talking a $1,200 payment from someone making $250K a year here.
At some point, it just can't work. Wait till it doesn't work on a large scale.
I think I read a few months back that Ford scrapped a replacement chassis for many of their "world" cars. That might be part of that chassis program. I know the Mustang was slated to be on that chassis as well.
But is all that a bad thing? It's not like they don't have an offer in any segment. Other than a midsize pickup. But I think the Ranger is still coming. So can saving money on redesigns and chassis development mean that will be in trouble? Dodge has had the same cars forever and not sure they have a new chassis coming anytime soon either.
for how much better/safer/more efficient of a car a new mustang is than an old one to an average consumer.
they really aren't too far off.
for how much better/safer/more efficient of a car a new mustang is than an old one to an average consumer.
they really aren't too far off.
But the cobra was the top of the line car. The GT is $43K+ aready. What will the GT500 cost? Cars are no doubt increasing is price. But you get a lot more too.
It's just hard to justify some of these prices when you remember a $12K Foxbody new. lmao
I don't get why people get upset about 60-72 month loans
It's not that I am against them. I have one because it came with the 0% interest deal. My amazement is people buying vehicles that they need a 60+ month loan to afford it. Seems like a good way to get upside down on a vehicle. That is all.
you missed it but that's okay.
if only someone hadn't made the comparison to a mustang we all could have been on the same page.
I get what you were saying. Pricing in 2003 versus today alone is not a fair comparison by itself. But inflation isn't the only reason for the cost increases. Also why I mentioned you get a lot more in these newer vehicles. Back then options were like a bogus stereo upgrade, a/c, and a sunroof. These new cars have so much more to offer.
for how much better/safer/more efficient of a car a new mustang is than an old one to an average consumer.
they really aren't too far off.
Ya, Agreed. Options and all that stuff. For all newer cars. Gotta pay for those advancements and improvements.
For the record, even with the awesome trade in price and sale price on my GT, I still hated paying that much for it. rofl
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