Used Car Market

Discussion in 'Car Hauler and Auto Carrier Trucking Forum' started by Natty Bro, Sep 24, 2022.

  1. Natty Bro

    Natty Bro Light Load Member

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    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.
     
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  3. JoeTruck

    JoeTruck Heavy Load Member

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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.
     
  4. Rubber duck kw

    Rubber duck kw Road Train Member

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    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.
     
  5. Arctic_fox

    Arctic_fox Road Train Member

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    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.
     
  6. Rubber duck kw

    Rubber duck kw Road Train Member

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    Well thats good, seeing as homes are just as overpriced as cars these days. Another 08 is right around the corner.
     
  7. Arctic_fox

    Arctic_fox Road Train Member

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    Im saving up for it. Lot of out of towners bought up all kinds of land and homes around here. Even 1930s era 600 square foot half acer houses are going 300k+ with some well north of 1 mill atm. Im hopeing when the crash comes i can snap up something nice.
     
  8. Rubber duck kw

    Rubber duck kw Road Train Member

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    There's a nice 80x48 truck shop near me I'm eyeing. Not quite right on the price yet though.
     
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  9. silverspur

    silverspur Heavy Load Member

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  10. AModelCat

    AModelCat Road Train Member

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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.
     
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  11. ProfessionalNoticer

    ProfessionalNoticer Road Train Member

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    Wait as long as you can because soon the prices will come back normal or even less.
     
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