Cost of used Tahoes

[Larryjb]

...
1) just refi'd my house at 2.25% on a 15 yr mortgage
....

I just refinanced for 1.67. (could gone lower if I went for a 3 year term)

It's crazy, but it is almost cheaper to restore my Tahoe than replace it. It's actually in good shape, but there is some rust starting. Brake lines should be done soon.

 

[1BADI5]

I just refinanced for 1.67. (could gone lower if I went for a 3 year term)

It's crazy, but it is almost cheaper to restore my Tahoe than replace it. It's actually in good shape, but there is some rust starting. Brake lines should be done soon.

Congrats!

Yeah with the cost of the new ones it's way cheaper to restore.......even with some rust repair and paint

 

[bruce kelly]

prices of all used vehicles are up now because factories can not ship due to lack of computer chips

 

[Larryjb]

I don't think the chip problem can affect the used prices that much. However, I can see that the move away from mass transit has created a seller's market for used vehicles. Even that can't be the only factor because many who used mass transit before are just working from home. If they were using mass transit before and looking for a car, I'd think most of them would be looking into purchasing a compact car instead of a Tahoe or Suburban.

 

[Shunto]

See?
What did i tell yawl I should've grabbed that 14 Tahoe out of TX.
Oh well.... enjoy your Stimmy..

 

[tom3]

Saw an item on the news last week, big car dealer. Had four vehicles on the lot, three were in sales process. Said this year so far broke all records for sales, but almost nothing coming in for now. Crazy times.

 

[Matthew Jeschke]

Result of banks giving very low interest rates and fed printing money like there is no tomorrow. the consequences are fast approaching. We have virtually no inventory left in real eatate where I work. More so, scary times.

Sent from my SM-A505U using Tapatalk

 

[cbuckeye20]

I don't think the chip problem can affect the used prices that much. However, I can see that the move away from mass transit has created a seller's market for used vehicles. Even that can't be the only factor because many who used mass transit before are just working from home. If they were using mass transit before and looking for a car, I'd think most of them would be looking into purchasing a compact car instead of a Tahoe or Suburban.

Definitely not mass transit, there are only a few cities in the states where mass transit is even reliably feasible to get around, the very large majority are in personal vehicle bound living areas.

I've got a gaming friend who's dad owns a bunch of toyota/GM owned brand dealerships in the south, and he said it was a combo of chip shortage + production shutdowns when COVID. Toyoto runs lean with their production, so a factory shutdown instantly affected supply. GM had a huge surplus of cars in early 2020, however they were much slower to ramp back up on production.

Now with the chip shortage both are having trouble cranking out cars.



These 2 factors are driving people towards used, and increased demand means increased prices... much like a GPU these days (bloody damn scalpers). Their Dealer Transfer drivers are being sent out with checks paying MSRP for vehicles just to get inventory for their customers

 

[Larryjb]

Well, this popped up in our local news today:

https://www.citynews1130.com/2021/05/03/bc-suv-sales-pandemic/

Our housing market is just as crazy. People are seriously overbidding on properties, and overspending on vehicles. This can't be sustainable.

 

[wsteele]

Well, this popped up in our local news today:

https://www.citynews1130.com/2021/05/03/bc-suv-sales-pandemic/

Our housing market is just as crazy. People are seriously overbidding on properties, and overspending on vehicles. This can't be sustainable.

Here is what Ben Bernanke in 2007 said to congress about the subprime lending mess.

https://www.cnbc.com/id/18718555

Anyone who thinks the Fed is going to stick the landing this time around is either very young or very dumb.