[Huracaan]

Even though I’m in the bear camp, I don’t think used car prices will go back to how they used to depreciate. That being said, I look at a $70K loss on a USED car as a terrible situation especially when that kind of loss was the price to pay for owning a new Lamborghini. But to each his own..

So cars are a new asset class? I don't know about that...

 

[Luzifer]

The smart salesmen know to keep a good relationship as they know eventually things will slow down. I've dealt with a few that are riding high from the hot market this past year, they treat you like crap if you try negotiating even a bit.

I wonder if paying the extra $40k for a Huracan today is worth not waiting around for prices to drop? Driving is more fun than waiting at the end.

Many cars it's 70K mark up.

Is it worth it to you to pay 40-70K for 2.5 - 3.5 months before snow and have to store the car for 5 months?
Do you mind if in January-March prices drop and you'll have lost (just as an example) 20-30-40-50K?
What's your threshold of F-U money?
Do you mind not having an H in 2022?

I'm not rich, I earn my money from tough and dirty jobs, people insulting me every week, clients throwing tantrums, running after clients who don't pay, knocking on their door at 10 PM while they are drunk, I have over 400 blocked callers on my phone. My answer there's no F-N way I'm giving Heather 70K so she can go out and buy a rolex and make shopping videos.

 

[Jr Mint]

What I've leared in my years is that no one can predict the future, and tomorrow isn't guaranteed. Buy what you want, try to get the best deal you can, and enjoy. All these guesses are making my head hurt.

 

[RayVegas]

So cars are a new asset class? I don't know about that...

They’re still going to depreciate as I’ve always stated. But instead of a 30% decline after 3 years, maybe they drop just 20%. Still dropping for sure longer term

 

[Rcasa20]

So cars are a new asset class? I don't know about that...

Always been one. Net worth statement would have you list cars as an asset. At least in the U.S.

 

[SpiderBull16]

But then it can also hit the "burst" people are speaking of and that $350K 2012 Aventador is now worth $220K.

Oh please, sweet Jesus, please.....

 

[AngelOfMurci]

Went car shopping for my daughter this past weekend. Basic Hondas and Fords are selling over sticker.

On a serious note… I would do either of the two… both are great financial lessons…

1.) purchase an early 1970s muscle car. The value will continue to go up during her ownership. Easy to maintain. Purchase Price will be comparable to a new vehicle. Plus, it will probably be the only muscle car of that type in her vicinity. Girls like being unique. Only con is the poor gas mileage.

2.) tell your daughter that a new vehicle is $25k (an example). However you can purchase a 2 year old, low mileage, full warranty car for $17k. Then offer her $4k in cash as an incentive to buy a used car.

let her make the decision… that’s my plan, put it in action… good luck!

 

[Jr Mint]

On a serious note… I would do either of the two… both are great financial lessons…

1.) purchase an early 1970s muscle car. The value will continue to go up during her ownership. Easy to maintain. Purchase Price will be comparable to a new vehicle. Plus, it will probably be the only muscle car of that type in her vicinity. Girls like being unique. Only con is the poor gas mileage.

2.) tell your daughter that a new vehicle is $25k (an example). However you can purchase a 2 year old, low mileage, full warranty car for $17k. Then offer her $4k in cash as an incentive to buy a used car.

let her make the decision… that’s my plan, put it in action… good luck!

I have an early 70s muscle car. They drive like crap....Don't do it!

 

[Hogdogfatkat]

On a serious note… I would do either of the two… both are great financial lessons…

1.) purchase an early 1970s muscle car.

Best advice right there! I still have mine (my first car in 2003) that my parents bought me for $8,200. I can sell it around $35,000 today, more if I update the inside and put AC back in it.
1973 Chevy Nova 350 bored out… feels slow as hell if I drive it after the lambo lol.

 

[Hogdogfatkat]

Went car shopping for my daughter this past weekend. Basic Hondas and Fords are selling over sticker.

I took the Jeep GC in for routine maintenance today and was surprised to see the dealership lots with growing inventory. Spoke to the sales rep about a new jeep and they said it’s at MSRP, nothing over and nothing under…

I also track the carmax price for my jeep and it decreased by $4,200 from when I checked it just over a month ago. Only added 1k miles since I last checked. 2019 under 34k miles.

 

[AngelOfMurci]

Best advice right there! I still have mine (my first car in 2003) that my parents bought me for $8,200. I can sell it around $35,000 today, more if I update the inside and put AC back in it.
1973 Chevy Nova 350 bored out… feels slow as hell if I drive it after the lambo lol.
View attachment 316899

Awesome! My senior year my dad got me a 76 Chevy Nova. It had rusted out muffler. Also a 350. My parents and the entire neighborhood knew what time I got in on a late night.

 

[AngelOfMurci]

I have an early 70s muscle car. They drive like crap....Don't do it!

They absolutely 100% drive like crap. Definitely no texting and driving in a early 70s muscle car! But that’s the rawness of it all… exactly like driving a 91 Diablo 🤓

 

[Luzifer]

I better beat Huracaan with stats, I'll let you post the Urus and Aventadors if you want.

57 Huracans on autotrader, there were only 22 cars in May! I'm not checking car gurus to see those cars who aren't on both sites meaning there more than 57 but prices have not come down and mileage are high. Fine by me keep em' coming, we'll see you in January if you're still holding the line!
Another weird thing, I'm starting to see a mileage bracket pattern on some cars. A little dubious?

 

[Lambo2018]

Not only is their pricing inflation but mileage inflation as well.

 

[lambo_dream]

Good to see Lambo Montreal posting Huracans under $300k. They're pricing is usually ridiculous but looks like other Lambo dealers are much higher than them now. Wonder if it's possible we'll see a 10% dip in the fall

 

[RayVegas]

Btw, here's a STO coming up for auction this week....

View attachment 316663

The gray STO showed up at a Mitsubishi dealership! I believe the asking price is probably incorrect, but if not, this is the lowest I’ve seen an STO offered at.

Autotrader - page unavailable

 

[Durden77]

That dealer is a real piece of work and they have exotics sporadically...interested to see if the car's price is accurate...

 

[RayVegas]

I think it’s a typo. That being said, that car was the one at illuso and obviously couldn’t sell. Manheim price that it sold for was $422K. That’s why I say $431K is a typo. But the STO market is finished if $422K is all it fetched

 

[Huracaan]

I believe there's around 35 STO's for sale at the moment and it seems like the number is going up weekly so I doubt the price is a mistake. I've also noticed SVJs are getting price cuts daily. Market is changing as we head towards Sept.

 

[RayVegas]

I believe that car sold at Manheim at $422K, so that listed price would not make sense.?