What do you car haulers know about the used car market right now?
Seems repossessions are through the roof and prices are dropping.
Someone told me banks are sitting on their notes and not sending to auction because they're getting their butts handed to them. He told me it's like the '07 crash but for cars.
What do you guys think? What do you guys see?
I'm only asking cause I'm thinking about buying a car but don't want to overpay now.
Used Car Market
Discussion in 'Car Hauler and Auto Carrier Trucking Forum' started by Natty Bro, Sep 24, 2022.
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Flat Earth Trucker, bzinger and JoeTruck Thank this.
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I heard the same, banks don't want to write off the loans. Also repo companies are buying up land to store the cars.
I am going to wait a year for a pickup.Natty Bro, MOBee, silverspur and 1 other person Thank this. -
I haven't heard this at all regarding cars. I have noticed it seems like the dealers went from nothing on the lot to a half decent selection in a months time.
Oxbow, Flat Earth Trucker, silverspur and 2 others Thank this. -
Yup local guy where i live and im friends with told me he has done more repos in just the last month then the entire last year combined. Also said its getting to the point he cant take many more because his lot is overflowing waiting on the bank to come get them or tell him where to ship them.
Natty Bro, Flat Earth Trucker, MOBee and 3 others Thank this. -
Flat Earth Trucker, MOBee, bzinger and 1 other person Thank this.
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homeskillet, bzinger and Rubber duck kw Thank this.
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Flat Earth Trucker Thanks this.
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Must not be selling many new vehicles because I had a dealer approach me about trading mine in and offered me 0.9% financing on a new 2022.
Flat Earth Trucker and bzinger Thank this. -
Wait as long as you can because soon the prices will come back normal or even less.
Flat Earth Trucker and bzinger Thank this.
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