Was This Finally “Peak Insanity” in Used Vehicle Prices? And all other crystal ball questions

if you have “excellent” credit no reason why you shouldn’t be at a credit union getting the loan

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Case in point - my regional CU. Auto Loan Interest Rates from: 4.69% APR - Star One Credit Union, California

I got both my cars refi’ed here at 2.39% and 2.49% for 84 months last year.

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Peak insanity was over when CNBC and alike started to report on the used car market.

Buy the rumor sell the news rings true again.

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I remember reading this last summer…the last line is the best…a quote from a Porsche owner:

"I don’t expect my car to depreciate much, ever.”

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11 posts were merged into an existing topic: Off Topic Landfill 5

I drove an 80s 3.2 Carrera recently. I hate to say it, but I really didn’t see what all the fuss was about. Good steering feel. Ok road feel. Ok powertrain. Nostalgic handling. Decent exhaust note. 0 safety. I am a car guy to the bone, but I wasn’t that impressed. I had more fun in an Alfa GTV6.

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Aircooled Koolaid at its finest.

Holy crap I knew it got bad but had no idea is was that wonky

How dare you speak this way!

P.S. I own an 87 3.2 with 56k miles. Love it. Zero safety sounds about right…no traction control, no abs, no airbags, no power steering…

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My apologies, it’s a nice car : )

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Jeeze, this thread has gone off topic so many times. Just want to point out to those who come here to read about used cars; I’ve been monitoring prices actively for X5’s or GLE’s for the past 4 months, and every once in a while I’ll see a deal come up, but to be honest, prices are holding very steady. I’m not seeing any give in prices on those cars, so if you’re in the market for one of those, my suggestion is to buy immediately when the deal shows up.

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What model years? Where are you located? I’ve seen some brokers offer decent discounts on new gas models X5s. As for the GLE, I have no clue what pricing looks like on a new model. All I can say is that, leasing one is still pricey.

I might have mentioned this before, but I am hoping that by the second half of the year we start seeing better deals on more cars. There are deals to be had on certain models, based on broker listings in the Marketplace. However, it would be nice if manufacturers resume incentivizing leasing once supply reaches a decent level.

I’m not talking about leasing. My comment was in regards to buying used (X5 2019+ and GLE 2020+). The used market for these cars is holding very strong. X5’s with <30k miles are holding above 40k in price, and it’s been like that since 2021. GLE’s with those miles are also holding a bit higher on price. I happened to score my 2019 X5 in Jan 2021 for 53k (MSRP was 80k and had 26k miles) and just picked up my wife’s 2020 GLE for 53k as well (MSRP was 90k and had 32k miles). In both cases, I called the day the vehicles went up and wired money same day. I’m continuing to watch prices because I’m helping a family member who wants the same X5, but nearly 2 years later from when I purchased, prices are very consistent.

:point_up_2::point_up_2: - Were these deals out of state purchases? Just curious.

Have you looked up its current value?

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Remember that McLaren P1 that was flooded in Florida last year? Well, it has reportedly been purchased by a YouTuber for $400k.

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Not a bad investment, he will certainly get a significant return just from the amount of traffic/views. Better than the mind-numbing content on netlfix imo

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and just like that, ill watch that series

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You forgot Samcrac and Rich Rebuilds.

Sad. :face_with_hand_over_mouth:

“By some estimates, it will require at least $500,000 to make the P1 roadworthy again. And when you add the $400,000 procurement cost, it sounds like a terrible deal; good examples of McLaren P1 with low mileage are currently valued at around $1.3 million. But, you see, it makes financial sense for a YouTuber like Tavarish who can get more views on his channel by documenting the whole restoration process of the flood-damaged P1.”

You must either be crazy rich or financially dumb to be buying a flooded supercar at a discount. I’ve watched some of Tavarish’s YT videos. He seems very knowledgeable about cars. If he can afford to restore this P1 using his own money, then I say more power to you.

+1 - Free press = more views.