[1965gp]

Hopefully this doesn’t get moved to the lobby for political reasons - I don’t think it will.

I am curious as to what every sees in their crystal ball about the newer car market in the next 6-12 months. I am going to be buying my wife a newer car and it’s amazing what I am seeing.

Our car is a 2015 Hellcat Charger with 54k on it. I would like to get her into a 2020/2021 wide body Hellcat Charger with less than 25k miles on it. We have done very well turning these cars every 4-5 years. This will be our 4th Charger in a row and we have made good money on all of them. We usually wait until it’s paid off, but may do it 6-8 months earlier due to inflation and potential rate increases.

These numbers are crazy, but keep in mind we expect to get 50k trade in for our car. We have already had offers of 46 and 48 to buy it outright.

Six weeks ago I could have bought a 2020 with 10k on it for 78-80k. Now that same car is 85-90k. A new one is 95-100k and there are very, very few available. It literally seems like the market is running out of these cars. In Houston there are 8 available.

I feel like we are in a situation where we are experiencing hyper inflation (no need to discuss the reasons for it here) and I am trying to figure out how to best position myself.

If I wait a year and the used car with 10k on it is over $100k and rates go up to 6,7,8% I won’t buy it. It will be out of what I am willing to budget.

But, if we hit a massive recession will these prices come back to reality?

My gut feeling is that in the short term car prices are going to continue to rise. Just as many cars are being wrecked and stolen as before and production doesn’t seem to be improving. I also think that manufactures will raise the MSRP’s to reflect the new market. If you allow the price to drop most of your customers will be upside down on their trade and not able to justify a new purchase.

Anyone else have any insight?

[nas t eh]

What is Warren Buffet doing? He has the best insight to the financial future of anyone I can think of.

[The Champ]

I traded in my 2019 vehicle last month for more than I paid for it and got a brand new 2022 equipped almost identically to the 2019 and was out the door including tax, title and license for under $9,500 after 4 years and 42,000 miles. I had gotten a great deal on the 2019 when I purchased it new.

Used car prices are too high. I bought the new one for about $2000 under sticker.

Very little negotiation. I've bought my last 3 vehicles from this dealership and they don't believe in a lot of BS.

[kingbuzzo]

Wow that's pretty good ROI - I thought only the 4x4 full size trucks were pulling it in...

[1965gp]

Yea- there is almost no negotiations anymore.

I would love to buy a new one, but 10k over sticker is hard to swallow.

[vertigto]

Same thing when I traded in my Camry on a leftover 2020 Ram last year. Got what I paid for the car 4 1/2 years ago and also $9K off sticker of the truck. No brainer for me.

[kingbuzzo]

that's crazy - I guess like everything else it's just guaranteed income (payment) for the stealerships...maybe they'll bottom out like the housing market too

[Half-Inch Stud]

...meanwhile back in po-dunk HIS driveway are 2 1995 Towncars that keep going and going and craaaaap
either an Audi or hellcat would be nice, but not trow my 68 GTO at thaaat.

[1965gp]

Well decisions have been made. Initially not impressed with the offers I got on our car, the dealers started calling back. So lesson learned, don’t take the first offer. The offer of 48 went away, the offer of 46 went to 47,500 and one came in today at 49k. Figuring I would get 50-51 from a private individual I figured it was worth giving up some margin not yo have to let strangers drive my car, deal with fake checks, etc.

This is the car I sold today.:

[1965gp]

The dealer selling the car I wanted started at 89,999. It’s a 2020 Hellcat widebody with the 50th anniversary Daytona package. It has 10k miles on it.

We went from 90k to 87k to finally 85k. Still ungodly expensive- but considering the current climate I will have to live with it. I’ve wanted a B5 blue Charger for a while and since this one has the blue stitching through the interior I just couldn’t pass it up.

[b-man]

First world problem.

[R 70 Judge]

Originally Posted by 1965gp

The dealer selling the car I wanted started at 89,999. It’s a 2020 Hellcat widebody with the 50th anniversary Daytona package. It has 10k miles on it.

We went from 90k to 87k to finally 85k. Still ungodly expensive- but considering the current climate I will have to live with it. I’ve wanted a B5 blue Charger for a while and since this one has the blue stitching through the interior I just couldn’t pass it up.

Cool car. Congrats!

Word on the street is that they are currently seeing a ton of repos from people who bought with stimulus money down payments who couldn't really afford the cars. Now that gas prices have doubled they are being repo'd. They say that used car prices will start to fall soon... but who knows how soon. Could just be gossip but that is what I've heard.

[1965gp]

I think your spot on- the dealer friends I talked to said that some cars are running hot while others are hitting a standstill.

I think I will be fine- 2023 is the last year of the Hellcat and I would be shocked if they could keep up with production with current issues.

And if it all drops, hopefully I will be okay and not have to sell any Pontiacs!

[1965gp]

Well yesterday we flew from Houston to Tulsa and the dealer picked us up. I was extremely nervous as I have never spent anywhere near this on a car. Or anything for that matter. We were expecting the worst- we did not have flight home and had not seen the car in person.

When we got there they had the car cleaned up and waiting. The condition was amazing. Two rock chips on the chin spoiler and that’s it. Drove it and it drove great. Had a K & N intake on it and felt a little faster than our 2015 did. The car was a go.

Wife loved the color and no longer regretted selling the red one.

Met with finance, they significantly beat USAA- This is the first time I shopped their rates. Signed some papers while they filled it up and we were out the door.

We landed at 11, were on the road by 1:15 and made it home by about 8:15.

Here’s a pic when we got home

[geeteeohguy]

Originally Posted by b-man

First world problem.

I agree. If you want to make money, buy real estate. If you can afford to spend 80-100k on a second car, just buy what you want.

I've never bought a new car, but the most expensive car I ever bought was a non-running 1961 Corvette that had been sitting for decades. That was 7 years ago. It cost me about 25 times what I paid for my GTO's----40 years ago.

Nobody lives forever. If you want a new ride and can afford it, just buy it and don't worry about ROI.

[1965gp]

Here’s better pics that give an accurate representation of the color.

For the first world problems comments… I’ve worked my ass off my entire life (starting around 12) to build a cool car collection. While none match the quality of some of the beautiful restorations on this site- I have quite a few cool Pontiacs. I certainly understand people not wanting to pay the price for a newer car- hell I didn’t either. But I travel every week for work (for the past 22 years), work 60-70 hours a week and try to keep my wife in a low mileage car to avoid issues.

Have you ever tried to justify your wife breaking down, while your out of town but you have 10 other cars you play with?

I could have bought a Honda for 45k. But who wants that…

As I said- I’ve made money on the last 3 chargers I’ve had and just keep stepping them up each time.

If I told you I bought a charger for 45k would you care? Because that’s what this car cost me.

I probably shouldn’t have posted about it. I just got excited and enjoy talking about the car market.

[tinindian68]

I don’t care what you paid for it. It’s a badass car. Thanks for sharing!

[GTOnly70]

Damn nice car! Congrats!

[CraigGT37]

Sweet car and color, but I am partial to the color. I have a 2019 B-5 Blue Scat Pack Charger. The Hellcat Daytona is the only 2020 Charger that was B-5 Blue. What number is hers?

[Charlie Brengun]

Originally Posted by 1965gp

try to keep my wife in a low mileage car to avoid issues.

Have you ever tried to justify your wife breaking down, while your out of town

I don't have 10 cars to play with but the above statement still applies.

Congrats on the car, nice colour and it certainly isnt a boring crapbox! Hope you two enjoy it!