[Senior Member]

With the recent SVB (Silicone Valley Bank) predicament, full or near full new car lots, inflation, high intrest rates, $70k KIA'S and other thing around the world, is the perfect storm brewing?

Let's Jumpstart/discuss discounts and deals out there....

 

[Iroczgirl]

I don't know, but I might invest my money in some old Toyota trucks.

 

[300_munkeys]

Well I've been waiting a while. I just caved and bought a used car so probably the market will crash now. Hopefully I can at least pick up a decent 911 if prices become a bit more rational.

 

[puma1552]

 

[KrisA]

Full bailout of all SVB depositors = dollar is doomed

Buy a car, no matter the price, if it makes you happy it's better than garbage unbacked bits on some computer disk somewhere.

 

[whoisglipglop]

Thank goodness the rich people who contribute nothing to the world got a bailout. That money could’ve gone to normal people, improving their quality of life and enabling them to ‘contribute more to the economy’ but that is ‘socialism.’

So cool how influential capitalists get all the benefits of capitalism but with everyone else paying for the risks.

 

[Senior Member]

Working to address SVB collapse, but not looking at bailout, says Yellen

U.S. Treasury Secretary Janet Yellen on Sunday said she was working closely with banking regulators to respond to the collapse of Silicon Valley Bank and protect depositors, but a major bailout was not being considered.

www.reuters.com

 

[300_munkeys]

View attachment 267295

I was about to ask who is buying one at almost $50k? But then I realized obviously no one, lol hence the discounts. Too bad as I think they're cool cars.

 

[demented_irony]

So cool how influential capitalists get all the benefits of capitalism but with everyone else paying for the risks.

Privatized profits, socialized losses.

 

[Senior Member]

Crypto-friendly Signature Bank shut down by regulators after collapses of SVB, Silvergate

State authorities closed New York-based Signature Bank on Sunday, after Silicon Valley Bank was shut down by regulators on Friday in the biggest bank failure...

www.marketwatch.com

 

[Senior Member]

View attachment 267295

$6k discount was the main reason we bought a Passat and Jetta before.

 

[puma1552]

$6k discount was the main reason we bought a Passat and Jetta before.

Yeah post dieselgate you could get $6k off everything from VW pretty much. I got right around that discount on my Mk I Tig.

 

[300_munkeys]

Yeah post dieselgate you could get $6k off everything from VW pretty much. I got right around that discount on my Mk I Tig.

People are paying more for 3-5year old Mk7 GTIs today than they were brand new.

 

[puma1552]

People are paying more for 3-5year old Mk7 GTIs today than they were brand new.

I know, it's pathetic.

 

[Uber Wagon]

I think new car discounts are started to happen, but the bigger crash is with used cars...where it's in a literal freefall.

 

[300_munkeys]

I think new car discounts are started to happen, but the bigger crash is with used cars...where it's in a literal freefall.

Since when? According to Manheim prices dropped a lot in January but then rebounded in February.

Used Vehicle Value Index

 

[dr.volkenstein]

So I should go out and buy a tesla, right?

 

[stiggy-pug]

not dealer related really,
but I was somewhat surprised that this low mileage R53 MC40 failed to meet reserve...

11k-Mile 2004 Mini Cooper S MC40

Bid for the chance to own a 11k-Mile 2004 Mini Cooper S MC40 at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #100,710.

bringatrailer.com

How profound is the psychic shock related to the SVB collapse?

Will the market be totally spooked?

ain't got two nickels worth can't make a dime

 

[BryanH]

I think new car discounts are started to happen, but the bigger crash is with used cars...where it's in a literal freefall.

I want to agree with you...but my son is looking for a vehicle and its not even close to in a freefall in the used car market. The new car market seems to be more competitive.

 

[Tommietank]

but I was somewhat surprised that this low mileage R53 MC40 failed to meet reserve...

Car was pretty clean but presentation a bit lacking. Could of used a good detail.