Car Market going forward (1 Viewer)

[the moops]

Did pull the trigger on a 2023 Chevy Bolt EUV. Couldn't pass up the $7500 tax credit and the free installation of a level 2 charger in my home. ~240 mile range will be no problem for us. My commute is 17 minutes on the days I go in, my wife has an even shorter one. No charging options at either of our work (yet) but with the level 2 charger we will have a full battery every morning if need be.

Got in one for right around 32K before the tax credit.

I will likely try and plan some road trip with the thing just to see how that goes with having to charge at non-Tesla superchargers. Also, the Bolt is a much slower super charge than others, can take up to 90 minutes to got from zero to a full charge

 

[fruity pebbles]

So question for the helpful and ChiefD.........

I need tires in the next 2 months non negotiable - would you spend the ~4k for everything I need to get the Traverse "back to normal" or just leave as is ....... I know this is all individual because I'm no stranger to fixing up an older car then 2 months later needing a major repair.

My current lean is spending the 4K now and roll into 2024...... if possible.

So option A - do nothing and wait a few months (probably get tires)
option B - do bare minimum (tires brakes)
option C - drop the 4K now and roll with it for another year

TIA

KBB - has my resale at like 3K lol so thats why I really dont want to do anything

No way I’m putting four grand into that car.

 

[DA RAIDERS]

So question for the helpful and ChiefD.........

I need tires in the next 2 months non negotiable - would you spend the ~4k for everything I need to get the Traverse "back to normal" or just leave as is ....... I know this is all individual because I'm no stranger to fixing up an older car then 2 months later needing a major repair.

My current lean is spending the 4K now and roll into 2024...... if possible.

So option A - do nothing and wait a few months (probably get tires)
option B - do bare minimum (tires brakes)
option C - drop the 4K now and roll with it for another year

TIA

KBB - has my resale at like 3K lol so thats why I really dont want to do anything

No way I’m putting four grand into that car.

This

 

[pollardsvision]

So question for the helpful and ChiefD.........

I need tires in the next 2 months non negotiable - would you spend the ~4k for everything I need to get the Traverse "back to normal" or just leave as is ....... I know this is all individual because I'm no stranger to fixing up an older car then 2 months later needing a major repair.

My current lean is spending the 4K now and roll into 2024...... if possible.

So option A - do nothing and wait a few months (probably get tires)
option B - do bare minimum (tires brakes)
option C - drop the 4K now and roll with it for another year

TIA

KBB - has my resale at like 3K lol so thats why I really dont want to do anything

I agree with the general consensus to do the bare minimum and sell. Keep it running and pass inspection and nothing else. No other expense will ROI.

But that's only because you want to sell.

For me, if it's a car I like/trust and I'm keeping, I don't care too much what it costs to fix. But if you plan on selling, it's completely different.

 

[belljr]

So question for the helpful and ChiefD.........

I need tires in the next 2 months non negotiable - would you spend the ~4k for everything I need to get the Traverse "back to normal" or just leave as is ....... I know this is all individual because I'm no stranger to fixing up an older car then 2 months later needing a major repair.

My current lean is spending the 4K now and roll into 2024...... if possible.

So option A - do nothing and wait a few months (probably get tires)
option B - do bare minimum (tires brakes)
option C - drop the 4K now and roll with it for another year

TIA

KBB - has my resale at like 3K lol so thats why I really dont want to do anything

I agree with the general consensus to do the bare minimum and sell. Keep it running and pass inspection and nothing else. No other expense will ROI.

But that's only because you want to sell.

For me, if it's a car I like/trust and I'm keeping, I don't care too much what it costs to fix. But if you plan on selling, it's completely different.

It holds no sentimental value or anything for me. Plot twist, I'm 8 months past due on my inspection lol

 

[massraider]

It holds no sentimental value or anything for me. Plot twist, I'm 8 months past due on my inspection lol

Gotcha.

OK, you need 3 or 4 gallons of gasoline, that kid with the lazy eye from the convenience store, the parking lot behind the Dollar Store, and about 10 minutes of quiet time.

 

[ChainsawU]

I have been flipping vehicles the last couple years

During the L14 months, with the help of a bunch of Haynes manuals, an OBD tool, hundreds of YouTube videos, Rock Auto, and a couple small-town auctions, I've managed to flip a few. Latest was a 2013 Avenger ($2975, 96k miles) that took a $290 shift solenoid to make right and pass inspection. It's a lot of trial and error that's evolved me into a pretty damn good mechanic after just over a year. Is this something similar to what you've been doing? I also have a nightmare, rookie-mistake, junkyard auction situation I got myself into initially if anyone wants to hear about it.

 

[ChainsawU]

Pay cash for 1-2 year old cars with low miles and drive them for 10+ years.

Keeping them garaged, however one chooses to accomplish that, is worth every penny in this situation.

 

[ChainsawU]

I went to Carmax three months ago. Traded in a 2021 Tacoma I bought new for $30k and they gave me $32k.

Nice job. Tell us more. You think they already had it sold when they bought it back from you? I misread this post at first, but still wanted to come back and ask about it.

 

[ChainsawU]

It's almost like people don't understand anything about personal finances.

It's hard to say what value they're getting, but this does sound like a disturbing trend. It's chilling when someone advertises only about what your monthly payment will be with no regard for what amount it will actually cost in the long run.

My wife has been dropping hints for the past few years that she wants a new SUV to replace our perfectly fine 2011 Honda odyssey.

How clean do y'all keep it? A nice, surprise detail job might buy you some extra time if you ever see it reaching a true tipping point.

23 yrs old and NO CAR PAYMENTS ever in his life.
He's saved up quite a bit of money

I'm proud of him, too. He's way ahead of the game, not only compared to how you say you were back then, but the vast, vast majority of consumers. I wonder what his final goal is? Make sure you let him know that life is prone to more plateaus than pinnacles, to be aware of that concept, because he sounds like he is on the rise. Great job.

any thoughts on the Pilot vs the Telluride

What type of engines do each of them have?

 

[ChainsawU]

Do any of you guys own an OBDII scanner? I bought one, called blue driver, when I first started my auto repair/engine knowledge journey, and it's probably been the most important tool in my toolbox in so many ways. The auto industry has the wool over our eyes, fellas. And dudes mentioned it in here a couple times already.. cars aren't that complicated and CAN be repaired at home. When you are shopping for your ride, note the engine and search it on YouTube. Not the make or model - just the engine. Someone mentioned GM in here, about Buicks and Pontiacs. The GM 3800 engine is a perfect example, found in cars of the late 90s and early 2000s. Throw GM 3800 into a YouTube search, filter the results using your own intelligence quotient, and use it as an example of how to query information about some of these new engines you're thinking of buying. And look into the OBDII scanner. A Bluetooth one. Costs around 80 bucks. It sincerely might end up saving you thousands in whatever situation you are in, whether it be shopping for a car, diagnosing engine problems on your current car, or just giving you additional insight (a second opinion) into a repair you might be looking at. One Love.

 

[belljr]

I have 2 an og one and I had to get a new one since the og wasn't recognizing all the traverse codes

 

[Ministry of Pain]

@ChainsawU

Thank you so much for the kind words.
I have bee trying not to get as excited as he is but he's putting in an offer, this is his 2nd Home trying to purchase

-He found a 2/1 under 1,000 sq ft BUT it has a nice utility laundry room not counted and also a carport that can easily be converted into another room, bathrooms are expensive but they add value, perhaps we can add on.
-St Pete/Pinellas , has a "Grand Oak" in the front yard, protected by Pinellas County, interesting side story
They are going to settle around $250k which is a **** load of money for a bank to be handing over to a 23-yr old but he's got a sharp mortgage broker
Zero out of pocket right now, closer wants to pay all closing costs and move on.

-The selling point for me are/is original terrazzo floors, not the ones made to look like terrazzo but real terrazzo.
I'm a little scared for him, I was over 30 before I had my own place
New AC, Roof is only a few years old, it needs updated windows and I've suggested a 203k, if that falls thru then Dad is gonna buy some new windows and not blink.
The kid has worked his bleeping tail off since we got him back to Florida.

Yeah I'm proud he learned he doesn't want to waste money on rent. If we add some square footage under roof and make a few improvements here and there, think this will easily appraise for more in the coming years, will make a terrific rental when they move on a to a bigger home in say 4-5+ years.

 

[DA RAIDERS]

Do any of you guys own an OBDII scanner? I bought one, called blue driver, when I first started my auto repair/engine knowledge journey, and it's probably been the most important tool in my toolbox in so many ways. The auto industry has the wool over our eyes, fellas. And dudes mentioned it in here a couple times already.. cars aren't that complicated and CAN be repaired at home. When you are shopping for your ride, note the engine and search it on YouTube. Not the make or model - just the engine. Someone mentioned GM in here, about Buicks and Pontiacs. The GM 3800 engine is a perfect example, found in cars of the late 90s and early 2000s. Throw GM 3800 into a YouTube search, filter the results using your own intelligence quotient, and use it as an example of how to query information about some of these new engines you're thinking of buying. And look into the OBDII scanner. A Bluetooth one. Costs around 80 bucks. It sincerely might end up saving you thousands in whatever situation you are in, whether it be shopping for a car, diagnosing engine problems on your current car, or just giving you additional insight (a second opinion) into a repair you might be looking at. One Love.

Might have to get one of these. When my wife’s bmw was dying, it needed/wanted new O2 sensors, plugs and ignition coils. Trusted Mechanics wanted more than the car was worth to do the job. You tube. a few hundred dollars, a special socket for the O2 sensors, and a few hours of my time, voila! Nursed 30/40k more miles out of it. Made it to around 225k

 

[belljr]

Do any of you guys own an OBDII scanner? I bought one, called blue driver, when I first started my auto repair/engine knowledge journey, and it's probably been the most important tool in my toolbox in so many ways. The auto industry has the wool over our eyes, fellas. And dudes mentioned it in here a couple times already.. cars aren't that complicated and CAN be repaired at home. When you are shopping for your ride, note the engine and search it on YouTube. Not the make or model - just the engine. Someone mentioned GM in here, about Buicks and Pontiacs. The GM 3800 engine is a perfect example, found in cars of the late 90s and early 2000s. Throw GM 3800 into a YouTube search, filter the results using your own intelligence quotient, and use it as an example of how to query information about some of these new engines you're thinking of buying. And look into the OBDII scanner. A Bluetooth one. Costs around 80 bucks. It sincerely might end up saving you thousands in whatever situation you are in, whether it be shopping for a car, diagnosing engine problems on your current car, or just giving you additional insight (a second opinion) into a repair you might be looking at. One Love.

Might have to get one of these. When my wife’s bmw was dying, it needed/wanted new O2 sensors, plugs and ignition coils. Trusted Mechanics wanted more than the car was worth to do the job. You tube. a few hundred dollars, a special socket for the O2 sensors, and a few hours of my time, voila! Nursed 30/40k more miles out of it. Made it to around 225k

Make sure the current car model and year has OBD2 .... some older and different models have a different diagnostic interface.

When looking for OBD2 you might want one that is updatable. The original one I own was cheaper and was awesome. Worst case I can look up the code and know what was wrong to determine if its something I wanted/could tackle. For example, I also need an O2 sensor buts it the one you need to drop the transmission for.... so no thanks lol.

Some manufactures have different specific codes, so if the reader is updateable you should be able to download current codes. When I bought our traverse my reader would get any generic codes (fuel cap, certain sensor, etc) but I had to buy a new one to get some of their specific codes.

Just and fyi

 

[ChainsawU]

Trusted Mechanics wanted more than the car was worth to do the job. You tube. a few hundred dollars, a special socket for the O2 sensors, and a few hours of my time, voila!

That's hot, bro. Both the saving of the day and the getting to show off tin front of the old lady at the same time? It adds even more hidden value! Just between you and me, I have a feeling those coils and spark plugs might just have been "scheduled maintenance" recommendations from their scheduled maintenance playbook. At that mileage you probably need those anyway though, so big props on getting that done. And now you've got a cool 5/8 socket with a magnet inside! Score! But yeah, the OBDII would've narrowed it down so much for you, but you smashed it regardless

 

[ChainsawU]

Make sure the current car model and year has OBD2 .... some older and different models have a different diagnostic interface.

Church. You're not wrong. I bought an OBD1 off Amazon, the General Motors model, before going to look at an El Camino the other day. I think it was a 1986. So this stuff's been right under our nose the entire time. I will respectfully say, just going on feel after reading what you said, you might be a little behind the times on the technology. There is OBD1 and OBDII (stands for on board diagnostics). I was using the OBDII on my friend's 2001 LeSabre, the one with the 3800, the engine I cut my teeth on last year.

Now - this is an odd tout, because it's marketing, and I avoid being hand-fed marketing in any form.. but the Bluedriver tool I use is bluetooth. On my phone, with pretty pictures, intuitive layout, and firmware updates. The whole 9. I like saving the cars' detailed reports to reference later (and the reports of cars you might find at the auction house or used car lot). That's huge $$$ A huge advantage.

I know they used to be kind of janky with the tech, but these days it's plug, play, buy the part on Amazon, done. It's like cheating. The only hard part comes when you realize it's time to buy penetrating oil and an offset socket wrench because your exhaust manifold is rusted shut.

There is a lot of overlap in what we are both saying, though. We are on the same page, but there's nothing to lose by buying an OBDII. Unless you get the cheapo brand. Dude.. you got an el cheapo brand, didn't you. I bet that's what happened! Even those cheapos range anywhere from $5 to $295 but are not intuitive at all. I think you got screwed by the Chinese.

***Just realized I should say that before you buy anything, do extensive research and no impulse buys. Saying this to everyone. I bought the el cheapo brand myself, as a rookie (there are plenty of them on the market) and wasted 20 bucks. But yeah. Do 30 minutes of research so you're not mad at me later for pushing some lame gadget on you! ***

Yeah man, Idk, I just love all this stuff now.

 

[ChainsawU]

Yo, also, that El Camino I went to look at the other day ended up being some kind of Nigerian Prince scam, too. I was so pissed. So, if you see a deal on Craigslist or other types of FSBO classifieds that looks too good to be true.. you already know how the saying goes.

 

[ChainsawU]

Thank you so much for the kind words.

Anytime! You're a pleasure to talk to. I'd only "known of you" mainly because you had tried to measure a pizza with a tape measure one time or something like that. But yes, hearing you talk about your son is sincerely inspiring. And trust me, I would chat you up more about real estate, flipping property, improving neighborhood home values, all that stuff. The market here in ATX has me so offended right now, though. I'm still salty after closing my real estate company, and by "real estate company" I mean the LLC I formed and flipped houses with for 5 years. I was running a well oiled machine, brother. For five years! In challenging, $hark-infested waters! Then, boom. Literally. Now instead of rebuilding houses I am rebuilding cars and live in an Econoline van with no fixed address

 

[pollardsvision]

Here ya go @belljr
Somebody trying to sell a 2012 Traverse with 183K for $7600. (quick KBB check says this is about $4500-5000 vehicle)

What's funny is in the listing they state that they are asking that much just to get back the money they just spent (rebuilt transmission). Oops.

 

[ChainsawU]

a terrific rental

Now we're talking. My ultimate goal was to have a dozen or so rentals. Does he lease out the previous place he bought?

It sounds like y'all have a serviceable mortgage broker, but honestly, that deal doesn't surprise me that much. Especially if she has a good job. Now, what I would do? With no money down? Don't wait 4-5 years, silly man. Rent it out asap and start shopping for houses again!

Would you rather have a mortgage broker you loved as your best friend? or a tough as nails, honest contractor as your best friend? I would start speed dating contractors and inviting them over on the holidays if it were me. Invite a couple electricians, too. And the guy who knows how to remove vinyl flooring with the flame thrower. That guy is cool!

What's the endangered tree story? Better be good! Cheers brother

 

[ChainsawU]

Oops

Ask them who rebuilt the transmission, because you want to see how long the work's guaranteed and if the warranty is transferrable. Then go talk to that guy. See what he says about it. Bring him an ice cold six pack in a brown paper bag when you get there. If it checks out, and you've also seen the car in person, find a comp for sale in the area, get some cash in your pocket and let the seller know it's go time at market price. At that point, worst they can say is no and you're only out a six pack.

It's a great opportunity to negotiate sincerely with an already-sincere person (based on their full disclosure and absence of strategy writing the ad). Also, who knows, she could be hot. Win win.

 

[ChainsawU]

Another "under the radar" place I found to buy a used car/auction car: towing lots. I was talking to a tow truck driver who said they have buttloads of unclaimed cars that are "available for sale," they just haven't gone to the trouble of listing them yet. That's boots on the ground car shopping right there, broseph. I bet it'd work, too.

 

[ghostguy123]

Another "under the radar" place I found to buy a used car/auction car: towing lots. I was talking to a tow truck driver who said they have buttloads of unclaimed cars that are "available for sale," they just haven't gone to the trouble of listing them yet. That's boots on the ground car shopping right there, broseph. I bet it'd work, too.

Isn't there a problem getting a title on those?

 

[ChainsawU]

Another "under the radar" place I found to buy a used car/auction car: towing lots. I was talking to a tow truck driver who said they have buttloads of unclaimed cars that are "available for sale," they just haven't gone to the trouble of listing them yet. That's boots on the ground car shopping right there, broseph. I bet it'd work, too.

Isn't there a problem getting a title on those?

By problem, do you mean "saving a bunch of money?" Brother, you own a car when you purchase it from its owner. If a man sells you a car he doesn't technically own, however.. is a different story. Even then, that means he's in trouble, not you. And that's grand theft auto, bro. But seriously, everything is digital now, and way easier. Plus, when YOU apply for the title yourself (in person, asap, and definitely within 30 days of purchase, because after 30 days is when the seller is no longer legally obligated to **** with it anymore), when YOU apply for the title, you make sure they don't write the wrong address on the damn thing and mail it to an address where you don't exist. So no, good question, there is no problem getting a title on a car you legally purchase, just do it asap and within 30 days. You'll have it in-hand, via USPS within a week.

 

[ghostguy123]

Another "under the radar" place I found to buy a used car/auction car: towing lots. I was talking to a tow truck driver who said they have buttloads of unclaimed cars that are "available for sale," they just haven't gone to the trouble of listing them yet. That's boots on the ground car shopping right there, broseph. I bet it'd work, too.

Isn't there a problem getting a title on those?

By problem, do you mean "saving a bunch of money?" Brother, you own a car when you purchase it from its owner. If a man sells you a car he doesn't technically own, however.. is a different story. Even then, that means he's in trouble, not you. And that's grand theft auto, bro. But seriously, everything is digital now, and way easier. Plus, when YOU apply for the title yourself (in person, asap, and definitely within 30 days of purchase, because after 30 days is when the seller is no longer legally obligated to **** with it anymore), when YOU apply for the title, you make sure they don't write the wrong address on the damn thing and mail it to an address where you don't exist. So no, good question, there is no problem getting a title on a car you legally purchase, just do it asap and within 30 days. You'll have it in-hand, via USPS within a week.

Thanks bro

 

[dkp993]

Make sure the current car model and year has OBD2 ..

1996 is that line. 95 last year of OBD1

 

[Ilov80s]

Lease prices suck right now. Bought a Ford Maverick to hold me over until maybe lease prices come down and I can sell off the truck. Pretty nice ride though. I am not a truck guy but I like that it's not so massive and it drives much more like a sedan.

 

[belljr]

Lease prices suck right now. Bought a Ford Maverick to hold me over until maybe lease prices come down and I can sell off the truck. Pretty nice ride though. I am not a truck guy but I like that it's not so massive and it drives much more like a sedan.

This is was on my list but the MPG was too low

 

[Ilov80s]

Lease prices suck right now. Bought a Ford Maverick to hold me over until maybe lease prices come down and I can sell off the truck. Pretty nice ride though. I am not a truck guy but I like that it's not so massive and it drives much more like a sedan.

This is was on my list but the MPG was too low

Yeah I wish it was a little better and I didn't get the hybrid (didn't have a choice, the Maverick is pretty tough to get and I just got lucky that a guy who pre-ordered one backed out and my car guy offered it to me). I am getting 23 right now from pretty much only surface streets. Luckily I don't drive too much. My job is only about 7 miles from my house and my town is quite walkable once the weather warms up.

 

[pollardsvision]

GM shutting down Fort Wayne Silverado plant for 2 weeks to "maintain optimal inventory levels"
This is the kind of stuff we can expect from GM and Ford as long as we'll put up with it.

GM targeting a 50-day supply of Silverados. Before 2020, a 90-day supply was the general target.

Nothing wrong with a business purposefully keeping supply low so they can keep raking in huge profit with these massive market adjustments. That's their choice.

I just hope what these automakers are trying to do doesn't work. Limiting supply, eliminating affordable models altogether. It's a great strategy if it works.

Hopefully, the American public wises up.

Ford posted a bad 2022 with this strategy. So, hopefully, Americans are wising up. Although, a lot of Ford's problems in 2022 were all the costly recalls and a bad investment in Rivian.

 

[BassNBrew]

GM shutting down Fort Wayne Silverado plant for 2 weeks to "maintain optimal inventory levels"
This is the kind of stuff we can expect from GM and Ford as long as we'll put up with it.

GM targeting a 50-day supply of Silverados. Before 2020, a 90-day supply was the general target.

Nothing wrong with a business purposefully keeping supply low so they can keep raking in huge profit with these massive market adjustments. That's their choice.

I just hope what these automakers are trying to do doesn't work. Limiting supply, eliminating affordable models altogether. It's a great strategy if it works.

Hopefully, the American public wises up.

Ford posted a bad 2022 with this strategy. So, hopefully, Americans are wising up. Although, a lot of Ford's problems in 2022 were all the costly recalls and a bad investment in Rivian.

Flores noted GM's "production is up over the past month while demand remains fairly consistent

Workers need to slow down.

Looking forward to the foreign companies figuring out the EVs and providing us some options.

 

[Ron Swanson]

Another "under the radar" place I found to buy a used car/auction car: towing lots. I was talking to a tow truck driver who said they have buttloads of unclaimed cars that are "available for sale," they just haven't gone to the trouble of listing them yet. That's boots on the ground car shopping right there, broseph. I bet it'd work, too.

Isn't there a problem getting a title on those?

By problem, do you mean "saving a bunch of money?" Brother, you own a car when you purchase it from its owner. If a man sells you a car he doesn't technically own, however.. is a different story. Even then, that means he's in trouble, not you. And that's grand theft auto, bro. But seriously, everything is digital now, and way easier. Plus, when YOU apply for the title yourself (in person, asap, and definitely within 30 days of purchase, because after 30 days is when the seller is no longer legally obligated to **** with it anymore), when YOU apply for the title, you make sure they don't write the wrong address on the damn thing and mail it to an address where you don't exist. So no, good question, there is no problem getting a title on a car you legally purchase, just do it asap and within 30 days. You'll have it in-hand, via USPS within a week.

Just make sure there isn't a lien on the vehicle.

 

[pollardsvision]

GM shutting down Fort Wayne Silverado plant for 2 weeks to "maintain optimal inventory levels"
This is the kind of stuff we can expect from GM and Ford as long as we'll put up with it.

GM targeting a 50-day supply of Silverados. Before 2020, a 90-day supply was the general target.

Nothing wrong with a business purposefully keeping supply low so they can keep raking in huge profit with these massive market adjustments. That's their choice.

I just hope what these automakers are trying to do doesn't work. Limiting supply, eliminating affordable models altogether. It's a great strategy if it works.

Hopefully, the American public wises up.

Ford posted a bad 2022 with this strategy. So, hopefully, Americans are wising up. Although, a lot of Ford's problems in 2022 were all the costly recalls and a bad investment in Rivian.

Flores noted GM's "production is up over the past month while demand remains fairly consistent

Workers need to slow down.

Looking forward to the foreign companies figuring out the EVs and providing us some options.

I'm not sure which foreign companies you mean, but if it's Japan, it doesn't look like there's going to be a ton of options anytime soon.

Just personally, I'll start taking EV's seriously when Toyota does.

Over the last 50 years, Toyota and the other Japanese automakers have led the way in providing transportation at a reasonable cost. I'll stick with them.

I don't trust GM, Ford and Volkswagen to lead the way in providing anything at a reasonable cost.

 

[Jobber]

Did pull the trigger on a 2023 Chevy Bolt EUV. Couldn't pass up the $7500 tax credit and the free installation of a level 2 charger in my home. ~240 mile range will be no problem for us. My commute is 17 minutes on the days I go in, my wife has an even shorter one. No charging options at either of our work (yet) but with the level 2 charger we will have a full battery every morning if need be.

Got in one for right around 32K before the tax credit.

I will likely try and plan some road trip with the thing just to see how that goes with having to charge at non-Tesla superchargers. Also, the Bolt is a much slower super charge than others, can take up to 90 minutes to got from zero to a full charge

Congrats. If I were in the market for a vehicle, I’d be at the Chevy dealer this very minute for a Bolt. Enjoy the damn near free fuel on your EV. The savings are immense, plus it’s a joy to drive (EVs in particular - I’ve never driven a Bolt, but all EVs are silky smooth and fun to drive regardless of model).

 

[Cowboysfan8]

GM shutting down Fort Wayne Silverado plant for 2 weeks to "maintain optimal inventory levels"
This is the kind of stuff we can expect from GM and Ford as long as we'll put up with it.

GM targeting a 50-day supply of Silverados. Before 2020, a 90-day supply was the general target.

Nothing wrong with a business purposefully keeping supply low so they can keep raking in huge profit with these massive market adjustments. That's their choice.

I just hope what these automakers are trying to do doesn't work. Limiting supply, eliminating affordable models altogether. It's a great strategy if it works.

Hopefully, the American public wises up.

Ford posted a bad 2022 with this strategy. So, hopefully, Americans are wising up. Although, a lot of Ford's problems in 2022 were all the costly recalls and a bad investment in Rivian.

Flores noted GM's "production is up over the past month while demand remains fairly consistent

Looking forward to the foreign companies figuring out the EVs and providing us some options.

Not anytime soon , thanks to our govt

Hyundai was poised to become Tesla's top contender. Then the U.S. government blindsided it

Hyundai's and Kia's popular new EVs are turning heads and sales were skyrocketing — until the Inflation Reduction Act took their customer rebates away.

www.latimes.com

 

[JAA]

I have been flipping vehicles the last couple years

During the L14 months, with the help of a bunch of Haynes manuals, an OBD tool, hundreds of YouTube videos, Rock Auto, and a couple small-town auctions, I've managed to flip a few. Latest was a 2013 Avenger ($2975, 96k miles) that took a $290 shift solenoid to make right and pass inspection. It's a lot of trial and error that's evolved me into a pretty damn good mechanic after just over a year. Is this something similar to what you've been doing? I also have a nightmare, rookie-mistake, junkyard auction situation I got myself into initially if anyone wants to hear about it.

I would like to hear more about the junkyard auction (sorry if I missed post already). Also, what state are you in? Im curious about your auction regulations.

 

[JAA]

Do any of you guys own an OBDII scanner? I bought one, called blue driver, when I first started my auto repair/engine knowledge journey, and it's probably been the most important tool in my toolbox in so many ways. The auto industry has the wool over our eyes, fellas. And dudes mentioned it in here a couple times already.. cars aren't that complicated and CAN be repaired at home. When you are shopping for your ride, note the engine and search it on YouTube. Not the make or model - just the engine. Someone mentioned GM in here, about Buicks and Pontiacs. The GM 3800 engine is a perfect example, found in cars of the late 90s and early 2000s. Throw GM 3800 into a YouTube search, filter the results using your own intelligence quotient, and use it as an example of how to query information about some of these new engines you're thinking of buying. And look into the OBDII scanner. A Bluetooth one. Costs around 80 bucks. It sincerely might end up saving you thousands in whatever situation you are in, whether it be shopping for a car, diagnosing engine problems on your current car, or just giving you additional insight (a second opinion) into a repair you might be looking at. One Love.

One notable is what state you are in. If you are in a salt-state like me (Mass) one spends most of their time getting rusty bolts off. The most important purchase is something like this: https://www.dewalt.com/product/dcf8...e-12-impact-wrench-detent-pin-anvil-tool-only

Lowes will have deals, but this is IMO the most important purchase for working on used cars in salt-states

 

[pollardsvision]

I had been wondering who's going to pay the price for what happened to the car market over the last couple of years. A lot of lenders holding the bag on a lot the tidal wave of underwater car loans that are coming.

American Car Center is closing up shop Based out of Memphis, but they have 40 dealerships across 10 states. They specialize in subprime auto loans. Delinquency rates so high they couldn't find anyone to buy their bonds to keep them afloat.

It sucks that people are going to lose their jobs, but this is the sort of thing that will be happening over the next few years. Just like housing in '09 and the current student loan crisis, a lot of people lent a lot of money for people to do some really stupid things over the last few years.

 

[pollardsvision]

Car dealerships are basically just a bank at this point. Imagine 18 months from now when they need another bailout even though they've been selling trucks for $80K.

 

[Faust]

Car Dealership Guy @GuyDealership
Finding *quality* used cars under $15-20K has never been tougher.

auctions are either filled with junk or don’t have em.

and we’re exactly 3 years since feb-march 2020 — when vehicle factories shutdown…

things are gonna get a lot weirder.

every dealer knows it.

https://twitter.com/guydealership/status/1630341481364955136?s=21

 

[ghostguy123]

I had been wondering who's going to pay the price for what happened to the car market over the last couple of years. A lot of lenders holding the bag on a lot the tidal wave of underwater car loans that are coming.

American Car Center is closing up shop Based out of Memphis, but they have 40 dealerships across 10 states. They specialize in subprime auto loans. Delinquency rates so high they couldn't find anyone to buy their bonds to keep them afloat.

It sucks that people are going to lose their jobs, but this is the sort of thing that will be happening over the next few years. Just like housing in '09 and the current student loan crisis, a lot of people lent a lot of money for people to do some really stupid things over the last few years.

So are prices gonna go up or down on quality used cars over the next 6 months to a year?
What about new cars?

 

[MTskibum]

I had been wondering who's going to pay the price for what happened to the car market over the last couple of years. A lot of lenders holding the bag on a lot the tidal wave of underwater car loans that are coming.

American Car Center is closing up shop Based out of Memphis, but they have 40 dealerships across 10 states. They specialize in subprime auto loans. Delinquency rates so high they couldn't find anyone to buy their bonds to keep them afloat.

It sucks that people are going to lose their jobs, but this is the sort of thing that will be happening over the next few years. Just like housing in '09 and the current student loan crisis, a lot of people lent a lot of money for people to do some really stupid things over the last few years.

So are prices gonna go up or down on quality used cars over the next 6 months to a year?
What about new cars?

It is difficult to say. I don't think even the experts are able to answer that, although it probably depends on make/model. For example Stellantis brands have a very high inventory level so i would expect them to start discounting to move vehicles, where as Toyota, Honda, Subaru have a very low inventory level so they will probably not offer very many incentives this year.


JP Morgan:

Used car prices have likely peaked, but new car prices are expected to remain high. In 2023, prices are expected to decline by roughly 10% for used cars and by 2.5% to 5% for new cars.

When Will Car Prices Drop? | J.P. Morgan Research

Inflation is driving up the prices of used, new and electric vehicles. What does this mean for car sales trends and when will car prices drop?

www.jpmorgan.com

Money.com:

Used car values are forecasted to decline in the first half of the year with fewer buyers in the market, but demand could pick back up in the second half of the year if auto loan interest rates normalize, according to Cox.

Used Cars Are Finally Getting Cheaper — and Even Lower Prices Are Coming Soon

The average list price for a used car dropped by about $700.

money.com

cnn:

So the 2020 plunge in car sales meant that few people were signing up for three-year leases on new vehicles, contracts that would normally be coming to an end now and in turn feed those vehicles into the supply of used cars on the markets.

“The repercussions of the pandemic are coming through,” Drury said. “The supply is definitely not going to be there.” The disruptions in the car markets in 2020 and early 2021 could affect used car prices much of the year.

“We are entering a period of tight supply on 3- and 4-year-old vehicles, which make up the majority of [used] car sales,” said Michael Manley, CEO of AutoNation (AN), the nation’s largest car dealership, in a call with investors Friday. “And that’s going to impact wholesale prices and ultimately, retail prices.”

It’s tough to know how long the rise in used car prices will last.

https://www.cnn.com/2023/02/18/business/used-car-prices/index.html

 

[New Binky the Doormat]

It’s tough to know how long the rise in used car prices will last.

definitely wait until tax season is over - if there's any chance for some price drops it won't be until then

 

[ChiefD]

Nothing is going to drop in price ever again. All of these companies that have raised prices during inflation are sitting there thinking: "well, people are still buying stuff...."

Welcome to the new normal. Makes me want to puke.

 

[fantasy stud]

Nothing is going to drop in price ever again. All of these companies that have raised prices during inflation are sitting there thinking: "well, people are still buying stuff...."

Welcome to the new normal. Makes me want to puke.

That is the crazy part of this past year. Prices go higher, interest rates go higher , stimulus money has dried up, but demand remains strong.

 

[fruity pebbles]

Nothing is going to drop in price ever again. All of these companies that have raised prices during inflation are sitting there thinking: "well, people are still buying stuff...."

Welcome to the new normal. Makes me want to puke.

That is the crazy part of this past year. Prices go higher, interest rates go higher , stimulus money has dried up, but demand remains strong.

A lot of aggregate demand still built up. Saw that when Tesla dropped prices and mortgage rates took a brief dip. Demand skyrocketed. Still a good amount of money on the sidelines just waiting. We went a long time at 0% interest rates, no student loan payments, rent moratoriums, mortgage payment moratoriums etc. whole thing is ridiculous.

 

[ChainsawU]

the most important purchase for working on used cars in salt-states

What's up, player. I am in Austin, an escape from Austin. I'm working on a van and the cold-weather videos I typically see are those of ski bums, Colorado ski bums who drive in icy conditions, and every time I see the salt-covered roads I cringe. Rust rot is real in your type of state. It's literally the hardest part of restoring your car. Buying a car at auction, determining a car's value, diagnosing a stubborn check engine light, educating yourself on the entire process - those things are hard, but once it's just you and the car in a moment of truth, alone in your garage - nothing feels more humbling and difficult when that rusted-shut bolt won't come off, or even budge, and it's in a location you can't even reach.

It's an interesting thought when you bring up "most-important tool." That impact you linked to, that's definitely a sick weapon to wield and worth every penny of that $280, especially considering all the theraputic moments it provides, in addition to getting the job done. A tool like that will save your muscles, too. If you're working all day, or on a deadline, energy conservation is key. It's like trying to do pullups after you just did a bunch of curls after a while, but with a good 18v (or 20v) impact wrench you're staying in the pocket for way longer. Those impacts actually have pretty sick computers in them now, what with the different intensity levels, sensors, and automatic stops built in. I'm a pretty boy though - Makita is my brand and I love weight lifting analogies. But I wouldn't look at you funny if you decided to buy a Milwaukee over of a DeWalt.

I'll nominate breaker bar as my candidate for most-important, but I'm basing my nomination based on heartfelt bias after dislodging a lug with the impact recently. A croasthreaded lug that remained inside the wheel yet just kept spinning. And I still had three similar wheels to remove.

 

[pollardsvision]

Nothing is going to drop in price ever again. All of these companies that have raised prices during inflation are sitting there thinking: "well, people are still buying stuff...."

Welcome to the new normal. Makes me want to puke.

You're probably right, but it really does just take one company.

We saw similar things in the 60's/70's. Well, really, forever.
But in the 60's/70's, American cars were becoming more and more massive, unreliable and overpriced. Man that sounds familiar.
Then Toyota and Honda came along.

Then again, it took 20 years for Toyota and Honda to gain a foothold.

Somebody will try to fill the affordability void. Toyota and Honda still can (Honda just "reintroduced" the base model CIvic). If not them, it could somebody out of South Korea or China, or Mazda. Or heck, against all odds, legacy American car makers have left such an affordability gap, it damn well could be Tesla.

Somebody will try. The bigger question might be whether the American consumer is really even interested in affordable. Nobody is building 1000 square foot homes anymore even though that's what most of us grew up in, likely with 1 bathroom and 3-4 siblings. Is that the fault of the builders or the American consumer?

Much as I bag on automakers, they serve at the whim of the American people who continually want bigger, nicer things they can't afford.

Anyway, I have hope that there will be some automakers try to bring affordable options to the market. I don't have hope that Americans will buy them.

 

[fruity pebbles]

What could go wrong
Delinquencies