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

Isn’t this also why this thread exists?

As I’ve posted before, the reason we went new for our kids was due to the safety features and parking sensors… but kids will be kids as they just ignore them and hit stationary objects anyways. :frowning:

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Now I know.

There was a time where average joe was flipping cars by buying brand new. applying the EVcredit and then getting a new one and making profit

Thanks. Nobody was hurt which is the most important thing. Part of it had to do with the size of the Tacoma, part of it was where & how he was parked to begin with, & part was due to him being Autistic. The only thing that would have prevented this would have been if he had the automatic rear braking or if he would have backed into the spot.

He admitted to me that he looked at the camera, looked at the dashboard and then didn’t look over his shoulder and check the camera before he proceeded to back up.

Autism affects fine motor skills. Which in driving translates into difficulty in parking lots.

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Well, at least now they start to develop and make it available the self parking feature.
My ID.4 apparently has it I just don’t know how to use it yet nor how it work but it was standard without extra pay.

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Hope fully he learned it’s better to walk an extra 100 ft and pull through so you never go into reverse.

(And hopefully a high school parking is striped in a way that allows that.)

If we can stay in the same house, my kids will have a brisk 10 minute walk to high school, so I’ll be buying them bright flashlights.

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Are we in the reverse peak insanity phase already?

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It is starting. Just saw that a Hyundai Tucson (maybe others) is now 0% for 60 months.

0% making a comeback is a good sign.

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Yeap, saw a post elsewhere that Subaru is starting to offer 0% as well. I think for them its still regional though, but the writing is clearly on the wall already.

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It had to happen. Enough people are upside down 5 figures easily and those same folks who would normally just roll their negative into a new car sure as hell aren’t going to do it at 6-8%+.

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I think a lot of those people would try and roll it in to a high interest loan like that but the banks are also saying no to them. :joy:

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Santander says no? :face_with_hand_over_mouth:

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Both they and LendingTree want your 22% business!

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That’s a big spread with banks auto loans at 8+%

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Even more important is that it is 60 months. Some manufacturers have been running 0% or 1.99% for 36 months or so, but I think 36 months is beyond the reach of many consumers at the average price point for a new car with sales tax, etc.

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Yeah, last time I’ve seen 36 months loans was about pre 2008 bust.
After that even at 0% 60 to 72 was advertised everywhere.
With current MSRP increasing path we should see 96 to 120 at 0% to make payment affordable.

And to make that palatable mortgages will go to 40-50 years…

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When are the December updated offers coming out? Feel like start of next week on websites no?

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2011 Lexus RX350 AWD w/ 137K miles - Looks clean!
$13,865 Asking Price
Just in case you don’t want to take a look at the carfax:

3 Minor Accidents on the carfax plus as an added bonus, the car was stolen, got an insurance payout, then was recovered and reconditioned

If peak insanity isn’t over with, then why is this car on sale at a luxury car dealership for almost $14K and not on some BHPH lot for $5-6K?