Most of these cars are being financed. I'm still amazed the banks are actually allowing people to take these loans out above MSRP. When this thing pops.... the car loan market will never be the same.
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Seems inevitable.Most of these cars are being financed. I'm still amazed the banks are actually allowing people to take these loans out above MSRP. When this thing pops.... the car loan market will never be the same.
It's called Loan to Value. Banks are willing to finance to a certain percentage of LTV, depends on the person's credit and income. I've seen as high as 140% LTV, but that's with stellar credit in a different environment.That’s not what happened to me. I also think adm and accessories are different. I agree u can finance accessories but not the the difference between what msrp on vehicle and mark up is. I have researched it extensively. it’s too risky for the banks. I have spoken to 5 dealers across the country. Each one wanted adm up front to make the deal possible.
What about classic cars? 90's imports are hovering around that range right now (not lambos/ferraris/porsche/etc).Anybody that pays $178k for a vehicle that isn't a Lamborghini, Ferrari etc. is an idiot, period.
I just don't see them maintaining crazy value like exotic cars in the long run. Your still talking about a car that was mass produced and fairly common at one point. I no shit knew a kid in high school that went through 3 Supra twin turbos in the mid 90s. He totalled out 2 of them then got rid of the 3rd when daddy bought him a new Porsche for his graduation.What about classic cars? 90's imports are hovering around that range right now (not lambos/ferraris/porsche/etc).
Yeah, I was just being sarcastic. Haha.I just don't see them maintaining crazy value like exotic cars in the long run. Your still talking about a car that was mass produced and fairly common at one point. I no shit knew a kid in high school that went through 3 Supra twin turbos in the mid 90s. He totalled out 2 of them then got rid of the 3rd when daddy bought him a new Porsche for his graduation.