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Cheap used cars will force the new car prices lower too!

I don't think it will be 12-18 months for this crash. It's started already.

I give it three months and all hell will be let lose.

I also predict the classic car market will crash hard too. Lots of cars will be flooding the market and few people will be able to buy them.

First, the bad loans of the mid 2000's were bundled and sold off to investors as short sales. When they went to shit, there wasnt enough money in the pot to give to those who invested. Its nothing like this, as if this is even an issue.

NOTHING other than niggers and spics and white women dating niggers because of their credit will lose out. The LOANS on these corner car lots have interest rates as much as 105% and most are around 30% so even if the loans go to shit, the car can be taken and RESOLD. More than most the bank has already made their money back in the first year, they wholesale the car and get paid twice, and someone other asshole will make 105% loans to fuck over someone.

The whole personal auto world is about to take a massive shit because of Electric vehicles. The low end lightning costs $20 to fill up and it does 300 Miles.

I think I'll just hold on to my 133K mileage Subaru for now. I took it in for repairs back in June 2020. The Subaru dealership offered me $4600 for it, but that was before all the shortages. I was curious about what they would offer a few months back. But I've decided not to start another car payment because I already know my rent is about to go up.

Many used cars are sold with tracking devices that are that must remain in place. This allows the used car sellers dealerships to easily reclaim the car if somebody misses the payment so it really works out well for the used car deal because they get to sell the same car over and over again. And unless the car is severely damaged by the owner or the buyer rather then it's actually better for the used car dealer to be able to repossess the car and resell it over and over again at the price. And that's what they've been doing for a long time. As far as people being underwater on car loans it's not the same thing as with the house. People pay a car loan monthly to be able to have transportation. They look at it as a service and not as an investment. It's not like a house to them. So if they default on a loan tomorrow that was too expensive for them they'll return the car and they'll go back even to the same used car dealership and they'll just get another car that's half the price that their payment will be half the amount on and the used car dealer will be happy to give them that deal again and the customer will pay for a lower monthly rate just to have transportation.

I completely disagree.

Beginning 2023 new car prices will dramatically spike because the manufacturers will figure in the increase in their costs into the MSRP. The dealers won’t be doing the “sell the new car to a broker, buy it back for a modest markup, and then sell it as used for a huge markup” scheme.
As states try to use emissions and inspection standards more and more older used cars will be scrapped- think cash for clunkers bullshit…

The dealers and finance companies have no problem paying for repos- they get to sell the car all over again and earn even higher interest now. They want shitty borrowers and market heavily to them.

Used car prices are definitely inflated. But with more and more government manipulation, it necessarily will get worse.

Cash for Clunkers comes to mind

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