You did the right thing
You said you didn’t need it
Enjoy that $$$
I wanted to get rodo to check g70 3.3 prices in so cal but noticed it requires a soft credit check to sign up so I passed.
At least they are being transparent with mark ups instead of getting called saying they won’t honor it
You get softed all the time without even knowing it. It doesn’t impact your life at all. 
My GMC 1500 Crew cab I sold to Autonation in Oct is still sitting on the lot unsold. Price has been reduced twice, down $3k. Now only $1.5k over what they bought out my lease for. This is in Texas, truck capital of US.
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Amateurs! How about an AMG GT Black with a $350,000 mark up?
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They listed my car for sale already. $68,000.
MSRP new was $68.
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post a link for all of us
There’s no consistent industry-wide adjusting going on. Some lenders have, some haven’t and the ones that have moved things in the 2-5pt range but its mostly model-specific. The market will come back down at some point and so most of the RV setting teams are conservative by nature. There are a few riverboat gamblers in the industry but they’ve always been on the high side so they just don’t look as high in the current climate compared to say 2 years ago.
The only way that happens is if the wholesale prices stay up in the stratosphere for a prolonged period (18+ months more). Since prices bottomed out in May 2020, we have seen 3 steady industry-wide runs with auction prices increasing at historically record paces followed each time by brief 30-60 day periods of prices dropping slightly. Each time with higher highs and higher lows. We are currently in the 3rd of those decreasing periods. I, along with everyone in my field, thought each time the prices started dropping that we were returning to some sense of normalcy. The last 2 times we were all wrong. All those periods of declines were driven by some sense hopefulness that the inventory situation was improving but both times it didn’t materialize and the news about inventory shortages grew more pessimistic so the prices dealers were willing to pay for a shrinking population of off lease vehicles continued to increase.
This time might be different since early December saw the all-time high water mark for auction prices. Like stock prices, there are price levels with support and resistance. I won’t say prices won’t start climbing again past that December point but I wouldn’t place a very large bet on that scenario.
So to go back to your question, no I don’t see many lenders making adjustments up if they haven’t already. Lenders want to avoid being underwater on leases and they tend to believe that prices in 3-4 years will be a lot lower than today’s prices so they want to have a conservative cushion to land on.
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I appreciate the level of detail in your response, thank you for sharing insight on how lenders are analyzing the market when setting residual values. This is exactly the response I was looking for.
Lets hope this December run is finally is the final peak before a return to somewhat normalcy.
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What a bargain! They’re 100 over in Scottsdale.
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I really love this used vehicle market personally. I sold my Mercedes GLE 53 AMG for $15,000 positive equity after using it for close to 1 year (Bought 6% off MSRP and sold at MSRP). I loved this car but it was just not a right fit for me.
I am switching over to Porsche and custom ordering the 2022 911 soon at MSRP. So excited!
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This & upcoming snow is not going to help
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As crazy as it sounds that’s actually decent for a G63 depending on the spec.
They wholesale regularly for 100K over MSRP for the right spec.
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They never had any issued pre-covid
Nice sale, but the Porsche is getting personal! ha. That is very similar to how I would spec one out for myself.
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Taking out your equity is going mainstream now. I’m looking for the clip of the segment so I can post it.
That Tahoe definitely ain’t with USBank
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8 posts were merged into an existing topic: Off Topic Landfill 5
The IRS about to make a new form on lease equity
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