I'd love to take advantage of low used car prices, but the problem is I'd have to sell one of my current cars to do it in the same depressed market. Bit of a catch-22.
Wouldn't mind a yellow interior/yellow exterior 2004-2005 NSX if price is back to reasonable amount again.
I actually raised this question in the panic thread.
mr2s2000elise said:Wouldn't mind a yellow interior/yellow exterior 2004-2005 NSX if price is back to reasonable amount again.
you can say that again.
I'm waiting for some type of exotic (slow and unloved Ferrari, 911, NSX, Lotus, etc) to pop up in "needs some love and I'm desperate to sell" condition.
I mean, technically the pandemic hasn't really changed the above for me. I'm always waiting for that.
Robbie (Forum Supporter) said:mr2s2000elise said:Wouldn't mind a yellow interior/yellow exterior 2004-2005 NSX if price is back to reasonable amount again.
you can say that again.
I'm waiting for some type of exotic (slow and unloved Ferrari, 911, NSX, Lotus, etc) to pop up in "needs some love and I'm desperate to sell" condition.
I mean, technically the pandemic hasn't really changed the above for me. I'm always waiting for that.
I dont think you will see a severe drop in 993 TT prices, or some NSX, unless of course its a prolonged recovery. However, I think the $80,000 Type R, and $200,000 Supra might come down a little. Who knows. The severely over leveraged people will let go of toys, and hopefully in some fire sale. Gotta keep the fingers crossed!!
But if I find a full yellow NSX in reasonalbe price, I know I will be pulling the trigger. There has GOT to be some positive of the Covid! 
Honestly, the biggest impact will be the 2-3 year old lease turn-ins that are going to sit at auctions and dealers because there's nobody there to buy them. The older stuff will drop some, but not as much.
If you think blue chip cars are going to drop I got bridges to sell you. Trust me if I could go out there and get a Merci at say 70% of what they were trading for at the beginning of the year it would be in my garage right now. Lot of stuff would be in my garage. Cars that people stretch to buy yes, so the aircooled 911 market may retract on the standard cars but not the RS stuff. Now there are rare examples where people need the cash in the car to take advantage of something else that will pay more then the 20% hit they are going to take. But people in those brackets are rare and most have access to credit.
Remember
Recessions do not help the majority of the poor or middle class, they help the wealthy with liquidity and deep access to credit buy things cheap.
Tom_Spangler (Forum Supporter) said:Honestly, the biggest impact will be the 2-3 year old lease turn-ins that are going to sit at auctions and dealers because there's nobody there to buy them. The older stuff will drop some, but not as much.
[steeples fingers RS3edly]
Pete. (l33t FS) said:Tom_Spangler (Forum Supporter) said:Honestly, the biggest impact will be the 2-3 year old lease turn-ins that are going to sit at auctions and dealers because there's nobody there to buy them. The older stuff will drop some, but not as much.
[steeples fingers RS3edly]
I'm there with you.. but I'm Golf R? or Honda Ridgline..
Fueled by Caffeine said:Pete. (l33t FS) said:Tom_Spangler (Forum Supporter) said:Honestly, the biggest impact will be the 2-3 year old lease turn-ins that are going to sit at auctions and dealers because there's nobody there to buy them. The older stuff will drop some, but not as much.
[steeples fingers RS3edly]
I'm there with you.. but I'm Golf R? or Honda Ridgline..
Miles and miles of scat pack chargers. Scat pack chargers everywhere. Heck, they're already cheap.
Wonder if me white base challenger will finally be cheap? Always wanted one....
In reply to Robbie (Forum Supporter) :
thats a good one..
What are the other overlevered sterotypical vehicles?
trucks? Ford Raptor?
Tahoe?
Escalade?
It wont be good for the financial side of the country prob, but Im glad there is going to be a reset. Why the berk it ever became "normal" or acceptable to have a 800$-1200$ car payment for a pickup truck or suv is beyond me. And on top of that so many of the new cars are butt-arse ugly i wouldnt want them anyways.
but im a cheapo and not in their market anyways so my opinion is moot to them.
people need to be a bit more financially responsible. Im waiting for the housing market to take a crap. The house behind me which was a dump, has 1/3rd the lot size of mine, sold for 198k a few months ago. That house actually was a ghost of 2006, they were about half done with it when the market tanked and it sat unfinished until about a year ago when it got bought, crapily finished and flipped.
My house was 99k 8 years ago. People forgot 2006 very quickly. Sure, blame the banks and whatever, but who signed the loan paperwork?
In reply to wearymicrobe :
Agreed. I've read some speculation collectible cars might actually go up as some investors look to get out of stocks and into more "hard" assets.
Late model cars? Who knows... If it means I can stumble across the perfectly spec'd Transit 350 wth a tow package, then sweet. But I'm not holding my breath.
Otherwise, I'll continue with my current fleet once its been pared down to a "slightly" more manageable number.
In reply to mr2s2000elise :
There is actually really good valuation tracking in the NSX community-somebody with a data crunching background releases a spreadsheet on nsxprime.com and FB every 6 months or so.
I don't consider an early nsx with 100k a bluechip car, and do expect them to drop in value. Somebody posted theirs for sale on the FB owners group because they had to keep their restaurant afloat.
As far as actual blue chip cars, don't forget that the bubble for them popped in the late 80's early 90's.
I'm just happy foxbody projects seem to be dropping in price and glad I didn't pull the trigger on a 2500 dollar parts car last month!
Trucks are going to start dropping imho. Dually diesels are already dropping.
I need a slightly used pickup truck. I should be ready to buy in a few months.
Ive been trying to figure out the new world for me and car buys and sells.
Back in January I came within $1,300 of buy a CPO Lincoln MKT (the other Ford Flex.) I was ready to sign right that day and when we couldn't agree on price I walked. A month later, that specific one was gone. Right up until March 12th I was still lightly shopping and considering pulling the trigger in April/May on either a Flex or a Grand Caravan. I was looking at either a former rental car or an off lease car (3 yr/36k miles.)
I am still considering either and I wonder what the market will be for either.
I wonder if right now the rental car companies are dumping cars? Is that realistically possible? Who is buying them. Should I be scavenging current dealer's lots. But, how low can a dealer really go on a car that he paid high for pre-corona? Will they really sell them for less than they paid for them?
On the other side of all this, I have a stolen recovery '13 Chevy Sonic that I am trying to sell. I first put it up on March 4th. I started the asking price at $4,600. That first day I got a verbal offer of $3,750 but I didn't want to go that low, that soon. Now, I would take that price for sure. I moved the asking price down to $3,999. I really don't want to move my asking price lower because I do not think it is asking price that is holding off buyers; it's uncertainty that is holding off shoppers.
Will used car prices go down a lot? Will I have to give away the Sonic? Will I be able to buy a new Grand Caravan (with incentives) for less than the previous price of a former rental Grand Caravan? Will former rentals then have to get even cheaper?
I am planning to upgrade the Minivan in 2021 when some funds are freed up. I would pull the trigger early if there were deals to be had, but so far, I am not seeing anything drastic. I'll keep watching for a few months.
grover said:Trucks are going to start dropping imho. Dually diesels are already dropping.
Well yeah, Diesel is over twice as expensive as gasoline now!
(Srsly, though, my local station is $1.29 for 87, $1.90 for 93, and $2.79 for Diesel)
Low fuel prices mean low scrap prices (I forget the mechanism) so junkyards are likely paying squat.
CrustyRedXpress (Forum Supporter) said:In reply to mr2s2000elise :
There is actually really good valuation tracking in the NSX community-somebody with a data crunching background releases a spreadsheet on nsxprime.com and FB every 6 months or so.
I don't consider an early nsx with 100k a bluechip car, and do expect them to drop in value. Somebody posted theirs for sale on the FB owners group because they had to keep their restaurant afloat.
As far as actual blue chip cars, don't forget that the bubble for them popped in the late 80's early 90's.
Yeah I do follow that. Been on NSX Prime for a long time. I don't want an early NSX. I only want a 04-05. I didn't say anything about blue chip. I don't even know what a blue chip car is, and a middle class joe like me, probably can't afford whatever a "blue chip" is anyways, regardless of pre or post covid.
NSX is something I want. I only want yellow/yellow and sub 30K miles. I saw the restuarant owner one. Local guy.
Specialty/hobby/classic cars are like recreational properties and are some of the early casualties of a recession. In the first recession I remember, those $50k 57 Chev convertibles (I drove a 55 at the time so I watched values) returned to earth very quickly as the economy went south and were back to a far more reasonable $25k.
I'm in this situation. I've been watching a few cars for a couple of months now waiting for prices to drop because there is very little demand locally for 'sporty' 6spd manuals
One is a 2016 with 27k miles. $28k new, one owner. They were asking $15,900. Just as this E36 M3 started happening they dropped it to $12800. I call, we chat, sales guy says over two conversations, how about $12k, then later, make an offer, even if it's $1000 lower than we're asking. I might go look at it tomorrow.
I can look, but not touch. They are open, but not really. Everything would have to be done remotely, and I would not be able to drive the car until it's mine, but I have test driven this exact car, and a few of the non turbo versions and I like them. It is still under factory warranty.
If it's good, what should I offer? How low is too low?
Peabody here said:
, how about $12k, then later, make an offer, even if it's $1000 lower than we're asking.
If it's good, what should I offer? How low is too low?
Start at 8,800. Take it home at 9500-10,000. Since they already said they will take 11K.
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