CTH: Barrons has an interesting article on an increase in bank auto repossession rates connected to defaults [see here]. Essentially, used car prices have surged significantly and the timeline seems to indicate the temporary covid-19 stimulus spending had a lot to do with the increase in demand.
According to data assembled by CoPilot, used cars are currently priced approximately 10,000 higher than they would be without any pandemic related influence, supply side or demand side. Banks and financial institutions loaned money into the climbing market price. However, the artificially inflated car prices now create a bubble where the liability on the books is significantly higher than the repossessed asset is worth. more
My son and his wife just sold their 2-year old Camry to the Honda dealership.
Paid the car off and walked away with a few thousand. She got a vehicle through her work, so no more payments!
Half of all car loans in the District of Columbia are 30 days or more past due. It’s true!
Wait and see what happens when the winter heating bills need to get paid.
Car repossessions are racist!
What’s a “car payment?”
Used cars should be treated like medical waste if the government actually believes Coof is real.
Everyone sneezes on the steering wheel.
Don’t lie, you do too.
And you’re not going to be able to wipe all the spittle from all the groooves in the upholstery.
There’s garbage on the sidewalk,
Highways in the back yard,
Police on the corner,
Mortgage on the car,
Mortgage on the car. ♫
♫ Down the road I go! ♫
There’s something to be said for being debt free. Pounded that into my kids head, it worked.
Perfect,
More used car inventory with the depreciation pre-paid.
I’m Looking for a 3/4 Ton Chev/GMC van BEFORE DIRECT INJECTION.
Kcir – cause i give a Kcuf, the old ALDL Chevy 350s with TBI were tanks.
KCIR, give me the year you want. I’ll look for one in AZ. Should take 5 minutes.
I can do better…..but is this what you’re looking for?
https://prescott.craigslist.org/cto/d/prescott-valley-72-chevy-4-ton-4wd/7506732581.html
fair warning: if you’re in the east where there’s lots of humidity most of the year, particularly the south, or a place where it snows a lot … like Canada, the ’70’s & ’80’ Chevy trucks had a notorious rust problem along the lower part of the tailgate & sides (as did the vans)
btw, wouldn’t even consider buying any vehicle, including current & near future models, of any motor vehicle manufactured during and after the Plandemic. looking into grabbing something before electronics ruined cars. usually means pre-’75 … & stock up on lots of points, plugs, condensers, etc.
dang Burr, that Easy Rider gun rack just might seal the deal!
One problem with the old cars is ethanol. Not only does ethanol rot shit out, and have no machismo, it has a higher expansion rate at ambient temperatures. Your carburetted vehicle that already had problems with heat soaking will now be worse.
It has been said to go up one jet size on all jets to deal with ethanol… but the plain fact is ethanol will tax bowl valves and even filters and fuel lines at high ambient temps. Even worse when you shut down a hot engine.
It’s bad shit all around.
Mo, that one’s expensive cuz of the 4 wheel drive…but I wouldn’t pay 17 for it.
Plenty of old trucks out here. No rust, blah blah blah…
Here’s a Ford for 8 and some change. Nice bench seat. Manual.
https://prescott.craigslist.org/cto/d/prescott-1972-ford-250-explorer/7497844646.html
Ford Edsel engine? Meh. He prolly wants the FT 391.
If that Chevy were here in NorCal and a short bed you could get between 25 and 30K for it. Front straight axle and all ya know.
Who the fuck wants a short bed?
Oh yeah, I keep forgetting I’m getting old.
Short bed?
Haven’t seen one for years except this 57 with a 58 front clip step side in the Safeway parking lot.
Long beds are waaaaaay cheaper.
I threw the Ford in there because that’s the engine I know. And also because on Fords the distributor is where I can get at it.
But if you think 17 is a fair price for that chevy, I’ll believe you.
Trucks are meant to take shit from here to there. Hither to yon.
No Edsel shit, and no faggot short beds.
ACH!
Hey, I’m just telling you what sells. You can git with the marketing plan or miss sales opportunities.
It ain’t an edsel engine. The 352-390 is the same block. Low rev, high torque. Goes in T-Birds and trucks.
I’m just going off the general condition of the truck. I’d pay 12 or a bit more. Dope 4X4 set up. But it’s still just a truck.
Thankfully the market hasn’t gone nuts for those yet.
Out here you can still get a VW for cheap and flip it in cali for double.
ANY no rust Ford F250 PU with a 300 inline six and 4 speed will get it done… forever.
Burr, that’s what the FE in FE 390 is. Ford-Edsel.
But I understand what you are saying.
Enrico, I have the firing order on my knuckles. It’s a Y block. Big block V-8. I took the 352 crank out and put in a 390 crank. And then I took out the 4 speed and put in an automatic. Then I took that out and put in a Tremec 5 speed. Now I’m changing the read end from 3:5 whatever to 2:67.(the magic number for trucks)
If anyone wants a rust free Arizona truck let me know. Happy to go kick some tires for you.