The great debt crash

[errolanderson]

Used car market appears to be in early stages of some form of collapse. Repos apparently pouring in. This is getting nasty, but for those in the market looking for a vehicle, time is on your side . . . .

[Maver]

Used car market appears to be in early stages of some form of collapse. Repos apparently pouring in. This is getting nasty, but for those in the market looking for a vehicle, time is on your side . . . .

Used car market needs to come down. I bought a new vehicle Friday for less than what 1-2yr old (25-50000km) are advertised for. Same make/model/options. Don't make sense.

[Guest]

seeing same shit with polaris side by side
new same as 5 year old stuff on kijji
surely to christ people aren't paying those stupid prices?????

[flea beetle]

This is how things were not so long ago in 2012. Could buy new for the same or just a hair more than the used market. Can't do that with farm equipment just yet, but it will come.

Being told there is a luxury tax being implemented on new vehicles over $100,000. Is that the Governments attempt to cap the market?

[Taiga]

$20k for a snowmobile, $30k for a sxs, how can that be sustainable.

[makar]

$20k for a snowmobile, $30k for a sxs, how can that be sustainable.

30k is exactly the most I paid for a vehicle, six months old mind you

[Maver]

This is how things were not so long ago in 2012. Could buy new for the same or just a hair more than the used market. Can't do that with farm equipment just yet, but it will come.

Being told there is a luxury tax being implemented on new vehicles over $100,000. Is that the Governments attempt to cap the market?

Salesman told me a customer walked away from an Escalade when he found out the luxury tax is 20% on anything over $100000. I guess it's working?
Getting tough to find a diesel 1 ton under $100000.

[Guest]

I think one tons exempt
3/4 tons not
That’s why there is so many one tons

[Old Cowzilla]

Me thinks a lot of those overpriced SUV and trucks will get capped at $99000 and the dealerships will still make buckets of money.

[jazz]

Half of the EV offerings are over $100k now.

Did they get an exemption.

[jazz]

Higher, the majority is always wrong. It's a bond market collapse, like the title of thread, NA equities are just fine, there's capital flowing into North America from Europe and Japan, the currency effect is dominant.

This probably correct, but not yet. S&P has another 20% to fall. Many companies are down 70%.

But yes, the US is attempting to replace QE with sucking in the industrial base of the EU and Japan to fight China. Its the first attempt at repatriating the supply chains and propping the industrial base. Why start from scratch when you can just lure it here.

[errolanderson]

Me thinks a lot of those overpriced SUV and trucks will get capped at $99000 and the dealerships will still make buckets of money.

Used vehicle prices tumbling, it just a matter of time for new prices to get choked as well. Credit card debit a record high and average consumer savings reported down 70 percent in 2022.

Oh, but this is not a recession and there is no deflation according to mainstream press.