It's already happening. I just bought two bikes from owners that can't make their mortgage payments. Sad but things will get worse as interest rates aren't going to move downward soon I figure. There should be a lot of good deals this spring into the summer.
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Harley-Davidson profit jumps amid boom in leisure spending, shares up 8%
- Thread starter TK4
- Start date
TK4
Well-known member
I've been looking for a used truck. Dealers are on crack with their pricing. Twice I've told them I'll call them back in a couple of months and make the same offer on the same vehicle.
HD stock prices have been up and down for decades. Up now because of covid benefit payments in the US and Canada over the last couple of years and maybe some "revenge" spending. We'll see how they fare in '23 and '24 now that interest rates are up and the HD crowd continues to age into oblivion. People living on the edge, highly leveraged, will be burnt as they can't make their payments. Look for deals on bikes, RVs, and other recreational vehicles over the next 12 - 24 months.
Eff that! I'm retired. The money's coming out to play.
I bought my Jetskis from Michigan in the 2008 downturn in the same situation. We had a cold, but Michigan had pneumonia. .
I'm constantly astounded by how over leveraged some people are financing $50K motorcycles, $30K side-by-sides, $125K pickup trucks....looks impressive to the neighbours in the driveway I guess, but when the house of cards collapses, not so much. We had a family that lived at the end of our street for a few years that I'm pretty sure lived liked this - every toy imaginable in the garage and shiny flashy cars and trucks in the driveway. Then one day we came back from a weekend away and it was all gone and the house was empty. I think the cards collapsed.
Your hood was the epicenter of the cashflow life not that long ago. People making far more than expected based on education and responsibility justifies. If there's $100 left at the end of the month, what toy can you add for $100 a month? That worked surprisingly well for a very long time but when things inevitably reset there were a whole lot of people left with not much to show for a lifetime of work.
The RV world is feeling the pinch right now - so many people got into camping and RV's during the 2 years of Covid. Dealers jacked prices to insane levels and people just signed on the dotted line on 20 or 30 year (!!!) payment plans to get "199 a month!" pricing they saw on the big red sign.
Many apparently had no idea that RV's are insane depreciation pits in normal times.
Now normal times have returned and people are bored of those RV's or found out that that whole thing wasn't really their bag and they want out, but they're discovering that the RV they owe $50K on is only worth $30K....if you can even find a buyer. And in 5 years it'll be worth $20K if they're lucky.
So many people so horribly upside down because they just didn't do any homework before just signing whatever was put in front of them.
And I don't have much sympathy for RV dealers after the price gouging they gleefully took part in the last few years. Hope they banked all of that extra profit as their sales are probably going to be really depressed for many years to come as the glut of fire sale used units and repo's work their way through the market.
Anyone wanting a good deal on a used camper, if you can wait 6-12 months....wait.
Many apparently had no idea that RV's are insane depreciation pits in normal times.
Now normal times have returned and people are bored of those RV's or found out that that whole thing wasn't really their bag and they want out, but they're discovering that the RV they owe $50K on is only worth $30K....if you can even find a buyer. And in 5 years it'll be worth $20K if they're lucky.
So many people so horribly upside down because they just didn't do any homework before just signing whatever was put in front of them.
And I don't have much sympathy for RV dealers after the price gouging they gleefully took part in the last few years. Hope they banked all of that extra profit as their sales are probably going to be really depressed for many years to come as the glut of fire sale used units and repo's work their way through the market.
Anyone wanting a good deal on a used camper, if you can wait 6-12 months....wait.
lmao. Not gonna lie, I love my Harley-Davidson Edition F150. They're really good trucks, and I do a lot of truck stuff with it.
The H-D Edition was the only one (at the time) that came with AWD, not just 4x4, and you also got upgraded suspension. I'm indifferent on the Harley badging (literally everywhere), but I do like the orange stripes and I'm surprised 17 years later they're still in fantastic shape.
Most importantly though, it was an original owner vehicle (old electrician who sold it when he retired), with both the rusty quarter panels and dreaded 5.4 3v spark plugs replaced. Bought it for $6,000 with 230,000 km. Now at about 298,000 km. Had to replace alternator, starter, and some work done on the cluster and AC. I replaced a couple pulleys in the driveway easily enough.
For $6k, no complaints. It's a tank. Speaking of tank, the HD Edition gets the upgraded 135 liter tank. It's made many long trips. The special "HD" Edition seats are 17 years old and still super comfortable and have zero rips in the leather. Some 10 year old BMWs I looked at can't say the same. The heated seats are still HOT. Peace of mind from AWD.
The fuel economy is atrocious, but I think that's more to do with the big naturally aspirated v8 than it is to do with the AWD H-D Edition.
Overall the HD Edition is a bit HD-gaudy, but the upgrades are pretty sweet. Always buy from old white retired dudes that are particular about pampering their vehicles.
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This is why I sold my V-Rod and my camper in June. I knew the prices were inflated and suspected the value of both would soon come back down as the market would start to sink.
The trailer I only had a couple years, but I rented it out to people when I wasn't using it and it made me a few thousand bucks. By early 2022 camper prices were still hot, but I could tell my rental demand was way down vs the previous year, so I took that as my canary in the coal mine and cashed out $1,300 ahead on the trailer, plus the rental income of the previous years. Now it seems like the prices have really come down.
Similar with the V-Rod. I rode it, among my other bikes, for 5 years, put 20,000+ km on her. Just had a feeling the market was going to start sinking on bikes so I sold her. After bike/taxes/maintenance/upgrades, I made a clean $2,500 profit. It was too good of an opportunity for me not to cash out and see what happens.
Be fearful when others are greedy and be greedy when others are fearful, right?
"Objection, your honor. Relevance?"
Thing is, if these people were long term thinkers they likely wouldn't be in that situation in the first place...
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