Mar

5

I see that headline from a finzv blog headline machine. It caught my eye as I am having one heck of a time buying used carz. To find deals to "trade for profit" forget about that last year.. To find one to buy, it's frustrating as all hades and I am wasting too much time looking for a good 10-12k 06-07 used BMX type vehicle.

Of course we know all of this as production fell from 18mm units to 8.5 mm in the crash. So off lease carz lets call them 09's and 2010's are very steep in price. What this does is causes all used cars to go up …seemingly… I talked to a guy this weekend. He had a clean car for me. When I looked up loan value… never mind dealer wholesale I asked him where in the world did you get 11k price? he said its +++ what he paid for it.. I asked what did you pay for it… "you don't want to know" but I guess he can make his 800 off the unknowing.

There is a flood of rebuilt titles due to the extreme high costs of rebuilds. That is a new business. Of course I don't want a rebuilt car… and after Sandy I am sure there will be a flood of flooded out carz.. So this problem is Nashville to Fla.. used car prices are a total rip off and its much better to buy new. Yet I have no idea what the +- over production is a GM vs F and the Koreans are giving cars away with very high residual values with leases. Reminds me of the Japanese when they built Lexus brands in late 90's.


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