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      05-29-2020, 01:42 PM   #67
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Quote:
Originally Posted by SAADTHESAV View Post
Hate to revive an old thread, but what does everyone think of the car market now?

It's been around 6 weeks since this thread has been made.

Any new thoughts? Still think the used car market will crash?

I've been in the market for an m4 and I still see used m4's going off the shelf at a pretty fast rate. I really have seen no change in price and the buyers market compared to pre corona.
Wait a few months and we shall see.

Nobody knows what's going to happen, but I think once they start production back up the supply is going to far surpass the demand and that's when the trouble will begin.
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      06-01-2020, 04:28 PM   #68
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Quote:
Originally Posted by SAADTHESAV View Post
Hate to revive an old thread, but what does everyone think of the car market now?

It's been around 6 weeks since this thread has been made.

Any new thoughts? Still think the used car market will crash?

I've been in the market for an m4 and I still see used m4's going off the shelf at a pretty fast rate. I really have seen no change in price and the buyers market compared to pre corona.
Check this out:
https://www.karglobal.com/march-apri...et-conditions/



They say April's 16.3% Y/Y drop is the largest price drop in wholesale used vehicles, ever.
Though you can see in that chart that Sports cars only dropped 12% while luxury cars, compact, and midsized cars dropped the most at 22%.

This is just a preview of what will happen to actual off-the-lot used car values as it takes time for everything to trickle down. Dealers are listing cars for normal prices plus a little incentive to test the waters, see who bites. But if there's no takers then prices will slowly fall until someone buys it. Then when they go back to the auction to buy more cars, they will offer less because the last one sold for less, then they list it for less, and so on until prices hit rock bottom. Should take a few months.
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      06-01-2020, 05:19 PM   #69
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I wouldn't be surprised to see many used car dealership lots go out of business within the next few months.
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      06-01-2020, 09:01 PM   #70
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I'm seeing some asking price slippage, but not for P-cars.
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      06-01-2020, 10:58 PM   #71
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Ended up getting a new P-car for my mom (sorry not related to Used car market). But P-cars that are on the lot (new, and 1-2 years old) the dealer is very eager to get rid of them, and giving crazy deals....
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      06-01-2020, 11:24 PM   #72
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I'm seeing some asking price slippage, but not for P-cars.
Oh you will... everyone is affected by this.
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      06-02-2020, 09:49 AM   #73
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I drove by carmax the other day and the lot was vastly reduced, lots of space now. The people that were there weren't shopping, they were trying to unload their cars. So carmax must be liquidating assets. Where all these cars are going, I don't know.

That said, if I walked into carmax right now, I'd be looking for a deal on a good P-car, which is why those prices are not dropping as fast as commuter cars are.
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      06-03-2020, 04:26 PM   #74
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It's almost impossible to predict. The gov't has taken steps that they hope prevents the implosion of the economy. Who knows how that will work out, but it's not uncommon for people to claim they're making more money being unemployed than when they had a job. Also most people technically are employed at this point. Not to mention, at least by me (pa), the economy is slowly starting to open up.

My opinion is that the economy will not collapse in a substantial way provided we don't have a second wave of infection. And frankly all you vultures out there praying that everything becoes worth pennies on the dollar for anything of sbstantial worth. If we get to the point where good are basically being given away, the last thing anyone will be thinking about is getting a deal on "a sweet ride".
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      06-03-2020, 04:46 PM   #75
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On the plus side, I know where you can get a sweeeeet deal on a bunch of slightly used Hellcats (some may have a tiny bit of body damage):


https://www.bimmerpost.com/forums/sh....php?t=1726608
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      06-03-2020, 05:05 PM   #76
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I haven't seen any price drops on a couple models I have been tracking. Have noticed a lot of new cars on the road with temp plates. People in my area taking advantage of new car deals right now.
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      06-03-2020, 05:40 PM   #77
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Itís rough out there. Carvana wonít even make a buy offer on any of our cars. Looked at a trade on an M4 CS because they had slashed the price but the offer on the M2 was also much lower than a few months ago.
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      06-03-2020, 07:04 PM   #78
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Quote:
Originally Posted by BeastieBombRacing View Post
It’s rough out there. Carvana won’t even make a buy offer on any of our cars. Looked at a trade on an M4 CS because they had slashed the price but the offer on the M2 was also much lower than a few months ago.
Interesting... they agreed to buy my vette for what I think is a decent price. I was just playing with the idea so I haven't really gotten any quotes from anywhere else.

Personally I don't find prices right now to be all that great. Honestly I think if anything they may be slighter higher and less selection.

Has anyone also had issues getting a car loan. I have not had to apply for a car loan in a while, but with low rates and shit the way it is I'd rather hoard my cash. However last time I applied for a loan you just picked some banks and applied for a fucking loan. Now it seems every bank I try to apply with wants me to use their buyings service, making me buy cars from their dealers... WTF gimme a loan and fuck off with that shit!!!!
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      06-04-2020, 08:45 AM   #79
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I spec'd and purchased a 2020 Jeep Gladiator Rubicon brand new back in October. With some clever negotiating, I walked out with taxes included deeply below MSRP (this was well before all the incentives that are currently going on, but a better deal than currently regardess). Fast forward to a couple weeks ago, we decided to let the truck go at my remorse. Definitely loved the truck, but there were a few safety issues that, despite their sincere efforts, the dealer just could not resolve. Toss into the mix our first child on the way, and the truck (even without its additional problems) was quickly becoming a safety nightmare. Figured we'd give CarMax a shot at buying it. Turns out owning the truck for ~8 months and nearly 9k miles only cost me about $2.5k (excluding taxes, but we "traded" it in on the vehicle below and "negated" the taxes on it).

Bottom line, we got a higher price from CarMax than we could have gotten selling it privately PLUS we got the tax break by trading it in.

Quote:
Originally Posted by dreamingat30fps View Post
Interesting... they agreed to buy my vette for what I think is a decent price. I was just playing with the idea so I haven't really gotten any quotes from anywhere else.

Personally I don't find prices right now to be all that great. Honestly I think if anything they may be slighter higher and less selection.

Has anyone also had issues getting a car loan. I have not had to apply for a car loan in a while, but with low rates and shit the way it is I'd rather hoard my cash. However last time I applied for a loan you just picked some banks and applied for a fucking loan. Now it seems every bank I try to apply with wants me to use their buyings service, making me buy cars from their dealers... WTF gimme a loan and fuck off with that shit!!!!
I just bought a low mile Jeep Grand Cherokee Overland 4x4 for my wife with Bank of America. Best rates I could find (much less than credit unions even) with tier 1 credit. Real simple process with a lower rate than I got on my brand new Rubicon just eight months prior ( ).

Best news is that with the money saved, I've been given the green light to buy an M3/4/5
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      06-04-2020, 09:37 AM   #80
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Quote:
Originally Posted by spazzyfry123 View Post
I spec'd and purchased a 2020 Jeep Gladiator Rubicon brand new back in October. With some clever negotiating, I walked out with taxes included deeply below MSRP (this was well before all the incentives that are currently going on, but a better deal than currently regardess). Fast forward to a couple weeks ago, we decided to let the truck go at my remorse. Definitely loved the truck, but there were a few safety issues that, despite their sincere efforts, the dealer just could not resolve. Toss into the mix our first child on the way, and the truck (even without its additional problems) was quickly becoming a safety nightmare. Figured we'd give CarMax a shot at buying it. Turns out owning the truck for ~8 months and nearly 9k miles only cost me about $2.5k (excluding taxes, but we "traded" it in on the vehicle below and "negated" the taxes on it).

Bottom line, we got a higher price from CarMax than we could have gotten selling it privately PLUS we got the tax break by trading it in.



I just bought a low mile Jeep Grand Cherokee Overland 4x4 for my wife with Bank of America. Best rates I could find (much less than credit unions even) with tier 1 credit. Real simple process with a lower rate than I got on my brand new Rubicon just eight months prior ( ).

Best news is that with the money saved, I've been given the green light to buy an M3/4/5
What were the safety concerns?
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      06-04-2020, 10:12 AM   #81
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Quote:
Originally Posted by Matt@EuroJerks View Post
What were the safety concerns?


The sheer amount of input required by the driver to stay in a straight line. The gif above is (was?) my personal Gladiator. No, it's not a "Jeep Thing" as I've owned eight solid front axle Jeeps. My rock crawler on one ton axles, stretched wheel base, 40" tires, coilovers, and full hydro steering has better feedback than a $50k+ brand new, stock Jeep. Dealership acknowledges the issue with steering boxes, tie rods, linkage, etc. replaced. We even watched the steering box lift off the frame when turning the wheel while the vehicle was stationary.

Had a few instances of going around a sweeping turn at low speed where the steering wheel felt like it was preloading and then would have a delayed "springing" of steering response. This would result in the truck getting shot towards the direction you were turning. While it didn't happen to me, others that had this preloading sensation actually had the steering wheel lock while turning. Example below is of a Wrangler, but you get the idea.



It's a big topic of discussion in the community and is apparently a lottery of who gets an acceptable vehicle. Can't speak for the others, but mine would get better after a box replacement and then slowly get back to where it was over time. I was fed up and it was time to jump ship. In lieu of going through a Lemon Law debacle, I tried CarMax and the "ROI" was acceptable to avoid the headaches.

My other concerns are on me. I bought a Jeep with minimal safety features. With a baby on the way, the lack of airbags and STILL no safety rating, I figured it was fuel to the fire and time to stop holding on to something I emotionally wanted but logically should not.
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      06-05-2020, 10:19 PM   #82
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Quote:
Originally Posted by spazzyfry123 View Post
I spec'd and purchased a 2020 Jeep Gladiator Rubicon brand new back in October. With some clever negotiating, I walked out with taxes included deeply below MSRP (this was well before all the incentives that are currently going on, but a better deal than currently regardess). Fast forward to a couple weeks ago, we decided to let the truck go at my remorse. Definitely loved the truck, but there were a few safety issues that, despite their sincere efforts, the dealer just could not resolve. Toss into the mix our first child on the way, and the truck (even without its additional problems) was quickly becoming a safety nightmare. Figured we'd give CarMax a shot at buying it. Turns out owning the truck for ~8 months and nearly 9k miles only cost me about $2.5k (excluding taxes, but we "traded" it in on the vehicle below and "negated" the taxes on it).

Bottom line, we got a higher price from CarMax than we could have gotten selling it privately PLUS we got the tax break by trading it in.



I just bought a low mile Jeep Grand Cherokee Overland 4x4 for my wife with Bank of America. Best rates I could find (much less than credit unions even) with tier 1 credit. Real simple process with a lower rate than I got on my brand new Rubicon just eight months prior ( ).

Best news is that with the money saved, I've been given the green light to buy an M3/4/5


CarMax, in my experience, will usually give you a decent offer on vehicles that are not sold by a boatload, like Rubicons, M3ís, c63ís etc...
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      06-06-2020, 05:36 AM   #83
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Quote:
Originally Posted by ANP202 View Post
CarMax, in my experience, will usually give you a decent offer on vehicles that are not sold by a boatload, like Rubicons, M3ís, c63ís etc...
Yeah the offer really wasnít out there. Sure, I would have liked more. Who wouldnít? The reality is that, just as the thread title suggests, itís tough to sell. This was a simple transaction that even without the tax break for trading in was a higher amount than I likely would have gotten privately.

Whatís funny is their listing price is hardly more than they gave me when I traded it in and is also more than what I paid for it brand new
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      06-06-2020, 06:30 AM   #84
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Quote:
Originally Posted by SAADTHESAV View Post
Hate to revive an old thread, but what does everyone think of the car market now?

It's been around 6 weeks since this thread has been made.

Any new thoughts? Still think the used car market will crash?

I've been in the market for an m4 and I still see used m4's going off the shelf at a pretty fast rate. I really have seen no change in price and the buyers market compared to pre corona.
A friend and I thought the same as he was trying to pickup a C7Z or C8. Anything that was a deal or not too much over sticker on C8ís was flying off the shelves. He ended up settling for a private party sale with an acquaintance that was a decent deal everything else he had in a spreadsheet to look at was gone by now and he started seriously looking about 2-3 weeks ago.
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      06-06-2020, 01:52 PM   #85
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Quote:
Originally Posted by euro* View Post
Ended up getting a new P-car for my mom (sorry not related to Used car market). But P-cars that are on the lot (new, and 1-2 years old) the dealer is very eager to get rid of them, and giving crazy deals....
which dealer? how much off msrp new/used on lot?
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      06-06-2020, 03:18 PM   #86
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Quote:
Originally Posted by Maitre_Absolut View Post
Quote:
Originally Posted by euro* View Post
Ended up getting a new P-car for my mom (sorry not related to Used car market). But P-cars that are on the lot (new, and 1-2 years old) the dealer is very eager to get rid of them, and giving crazy deals....
which dealer? how much off msrp new/used on lot?
I deal with Pfaff Porsche in Vaughan. I can't comment on the deals that I got on public forum, but trust me they are amazing. Best to talk to somebody you know in Porsche sales.
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      06-06-2020, 11:47 PM   #87
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Quote:
Originally Posted by euro* View Post
I deal with Pfaff Porsche in Vaughan. I can't comment on the deals that I got on public forum, but trust me they are amazing. Best to talk to somebody you know in Porsche sales.
Again... why the secrecy? If you canít comment on how you got such a good deal, why even phrase it like that?

Someone else posted something like this and got chastised. Itís your turn.
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      06-07-2020, 08:08 AM   #88
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I don't get the hostility. It's a big Porsche centre that clearly doesn't like being seen discounting anything. So he is not going to reveal numbers publicly, just send a PM.
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