Covid economy non real estate

[Georg3__]

The Average New Car Price Hit $48,182 in July, A New All-Time Record

Kelley Blue Book says July's average car price shattered the last record... which was set in June.

jalopnik.com

How can people afford this and rent !?!?

 

[backmarkerducati]

The Average New Car Price Hit $48,182 in July, A New All-Time Record

Kelley Blue Book says July's average car price shattered the last record... which was set in June.

jalopnik.com

How can people afford this and rent !?!?

Recently.... record low interest rates, leases, 6, 7, 8 year terms, and rolling in what was left owing on the current car into the next one. All meant low monthly costs and a big underwater hole that keeps growing.

IMO it will be interesting once the supply chain is sorted if the rates are still high as it breaks quite a bit of the above.

A good friend had a mechanics shop and he had lower shop rates and catered to people with lower income and older cars, he did very well for a long time. That first line above basically put him out of business.

 

[crankcall]

Similar, once new cars started coming with 3-5 yr maintenance packages, oil changes and brakes , it really shortened the list of customers for many general shops .
Then add cars being quite reasonable to finance and it’s a slippery slope .


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[Evoex]

Recently.... record low interest rates, leases, 6, 7, 8 year terms, and rolling in what was left owing on the current car into the next one. All meant low monthly costs and a big underwater hole that keeps growing.

IMO it will be interesting once the supply chain is sorted if the rates are still high as it breaks quite a bit of the above.

A good friend had a mechanics shop and he had lower shop rates and catered to people with lower income and older cars, he did very well for a long time. That first line above basically put him out of business.

I’m about to get out of the automotive industry but in my opinion we have another year of shortages.

I expect we’ll see an improvement in the flow of components but the constraint (and costs) in the logistics side will continue to be an issue.

I would not be surprised to see frugal dealer lots until fall of next year.

 

[mimico_polak]

The Average New Car Price Hit $48,182 in July, A New All-Time Record

Kelley Blue Book says July's average car price shattered the last record... which was set in June.

jalopnik.com

How can people afford this and rent !?!?

Well the first point is they don’t have to buy a 50k car…but that’s just me.

 

[GreyGhost]

Well the first point is they don’t have to buy a 50k car…but that’s just me.

Starting to be come fewer and fewer below that line and many well above it. Not at all surprised average is so high. I would be surprised if any new cars sell below 20K even if they theoretically exist on paper. Tons get sold at 80 or more.

 

[mimico_polak]

Starting to be come fewer and fewer below that line and many well above it. Not at all surprised average is so high. I would be surprised if any new cars sell below 20K even if they theoretically exist on paper. Tons get sold at 80 or more.

Agreed...but as 50k is the average, I'm sure there are a LOT of options in the 20-40k range also.

You may not get what you WANT. But you can get what you NEED.

Some people have a very difficult time distinguishing the difference b/w the two.

I WANT a Tesla...but I NEED a Honda Fit.

 

[crankcall]

Wants vs needs is not what made a lot of us quite comfortable.
I need for people to need cottages and big houses , high end store fixtures and premium kitchens , elevator cabs with bubinga veneer and avacado toast .

15k Skoda 4drs don’t keep the “machine” running


Sent from my iPhone using GTAMotorcycle.com

 

[Mikedezo44]

The Average New Car Price Hit $48,182 in July, A New All-Time Record

Kelley Blue Book says July's average car price shattered the last record... which was set in June.

jalopnik.com

How can people afford this and rent !?!?

was getting a car safetied earlier this summer from mechanic down the street from me with a shiny new red dodge ram "GT" out front.. It has some half electric motor thing bolted on top of the motor called E-torque. I said nice truck as it looked showroom new. "Yup, Still owe 78 grand on it" I forget what he said how many years of payments left 7 or 8 . I couldn't tell if it was being proud in his voice, or regret. I would lean towards the latter.

 

[mimico_polak]

Wants vs needs is not what made a lot of us quite comfortable.
I need for people to need cottages and big houses , high end store fixtures and premium kitchens , elevator cabs with bubinga veneer and avacado toast .

15k Skoda 4drs don’t keep the “machine” running


Sent from my iPhone using GTAMotorcycle.com

Our favourite joke with my fellow Polaks is ‘no room for raises because the company’s not making any money’

As the boss pulls up in a brand new AMG or buys a new boat for the cottage…

 

[Mikedezo44]

 

[crankcall]

That’s always been the joke in my office , where’s my yacht ? Where’s my convertible?
Easy answer , you take a turn at owning the place .


Sent from my iPhone using GTAMotorcycle.com

 

[Brian P]

Meh. In my small company, we all drive cheap cars. They're all worth essentially nothing after 200k anyhow, which happens in no time in our line of work.

 

[Baggsy]

Are we done for?

 

[DownUnder]

Are we done for?

Yeah nothing to do with the record amounts of money printed and lit on fire by the govt.... it's all the peoples fault that see food and gas prices going through the roof, you people are to blame for inflation, because your noticing it.

 

[GreyGhost]

Yeah nothing to do with the record amounts of money printed and lit on fire by the govt.... it's all the peoples fault that see food and gas prices going through the roof, you people are to blame for inflation, because your noticing it.

Don't look behind the curtain. Pay attention to the carefully scripted releases. Do not ask any questions.