So this is why the current market is stupid.

1975U15

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These car auctions are not your average buyers. Some are speculating on the car market. But many are a strip of society that might collect cars and/or have a shit ton of money. And a few are hammered which the auction company and seller love.
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BadlandsJP

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I was able to do a lease on our Black Diamond, with Galpin. You going through Galpin also?
I have been looking at different avenues on how to have my bronco and the same time enjoy it financially. Wife is mad because I have many vehicles and wants me to sell something. I also looked into possibly selling the bronco in a year if for some reason it didn’t work out. With all the high prices I also found out that you cannot lease the Ford bronco and sell it to a third-party such as Carmax or other dealerships to do what’s been going on in shortages of vehicles. You can return a lease to any Ford and they can purchase it back from you but it also limits how much they’re willing to give you for it. The lease is the same price as purchasing in my circumstance but there might be no guarantee at the end of the lease term until I review the documents. If you purchase it obviously you have the right to sell to whoever whenever without the restrictions of Ford leasing and other contracts going against people such as Carmax and other online re- sellers. I went today to possibly sell my Lexus and see what I can get for it at Carmax and he showed me the piece of paper of all the companies that he cannot purchase leases from and they were all major brands such as BMW Mercedes Chevy dodge Ford ETC so be mindful.

Also if anyone is interested i might be selling my:
67 Chevelle Malibu
67 Chevelle Malibu sport sedan
12 Harley Dyna FXDB
2005 Yukon Denali

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BadlandsJP

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These car auctions are not your average buyers. Some are speculating on the car market. But many are a strip of society that might collect cars and/or have a shit ton of money. And a few are hammered which the auction company and seller love.
I went to an auction two months ago trying to pick up a 2005 Ford lightning that I assumed would go for around 25,000. I went in there thinking it was going to be a easy pick up and it ended up selling for 42,000 and completely blew my mind because you weren’t allowed to look in the motor or connect anything to read the motor it was basically pull up and check it out. I’m sure whoever bought it knew what it had in it because it did have upgrades in the motor. I left very upset that I spent all day there for one vehicle and couldn’t go home with it
 

BadlandsJP

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I was able to do a lease on our Black Diamond, with Galpin. You going through Galpin also?
No not Galpin. They do lease but the rate was the same as purchasing but the interest was higher for the 3 years. They did say the but out would be mid $34k ish after lease to buy it after but if you decide to sell for any reason you are stuck with what FORD will offer you and the lease can’t be bout out if you want to sell for another vehicle or sell it out right to a dealer. Carmax for instance can not and had a big list the brands they can’t purchase. I went to see why I could get for my daily Lexus and it wasn’t anything amazing so it wasn’t worth the offer since cars are more right now. It would be paid vehicle and money to put down on a marked up vehicle. The ford lease rate was around 900 a month for three years with $5k down. My order is a badlands sas 4 door MIC high package with tow and 2.7
 

Heffe66413

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I know i'm not "well off" but I like to think i'm comfortable. My house has no mortgage, my cars are paid off (sold the 3rd car for cash when the used market was crazy so I'm sitting on that cash plus my normal emergency fund plus my bronco fund) and I'm buying my bronco cash. I know 61% of the country couldn't afford a surprise $1000 emergency, so when I compare my situation with most people i feel incredibly lucky. but GOD DAMN there is too much stupid fucking money flying around when people can throw 30 fucking grand out the god damn window rather than wait one year. Who the fuck are these people with all this god damn money? Like I'm earning 6 figures and I'm buying a basesquatch, and I see people making less than me driving GLSs and shit, and you just KNOW they are leased and skipping meals to make the payments.

The entire system this economy is built on is ready to tumble at any moment 2008 style or 1929 style. There's just too much blind consumption.
It doesn’t matter if it is a Bronco or a trip to Disneyland- people find ways to pay for the things they really want.
As far as money matters- I could pay cash also but that money earned 18% last year. So why would I pay cash when I can actually earn mo ey by financing it?
 

_finack

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I know i'm not "well off" but I like to think i'm comfortable. My house has no mortgage, my cars are paid off (sold the 3rd car for cash when the used market was crazy so I'm sitting on that cash plus my normal emergency fund plus my bronco fund) and I'm buying my bronco cash. I know 61% of the country couldn't afford a surprise $1000 emergency, so when I compare my situation with most people i feel incredibly lucky. but GOD DAMN there is too much stupid fucking money flying around when people can throw 30 fucking grand out the god damn window rather than wait one year. Who the fuck are these people with all this god damn money? Like I'm earning 6 figures and I'm buying a basesquatch, and I see people making less than me driving GLSs and shit, and you just KNOW they are leased and skipping meals to make the payments.

The entire system this economy is built on is ready to tumble at any moment 2008 style or 1929 style. There's just too much blind consumption.
Come to South Florida some time. The sheer number of Ferraris, Lambos, Aston Martins, McLarens, Rolls Royces, and Bentleys you see on the regular is astounding.

Drive through Palm Beach and look at all the $50m+ beach houses that are occupied a Max of five months a year.

Check out Fort Lauderdale and see the $100m yachts.

The amount of stupid money down here is just crazy.
 

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Look at it this way. In a few years those who bought these Broncos at exaggerated prices will be doing two things for sure. Lying about what they paid for their Bronco, and driving around feeling like a “ smacked ass” when Broncos are on lots at under MSRP. As pointed out in earlier comments, the low life dealers who snatch customer orders for ADM lot sales are the issue.
People with money who want the new thing (Bronco) now will always pay for it. They aren't bothered by $30 or $40k over sticker price. A Midwestern guy on a salary can't fathom this mindset, but there are lots of folks with money who think $85k for a vehicle is nothing. They certainly won't be singing the blues that they paid too much in a year or two. They won't give it a second thought.
 

VelocityBrew

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And another one, and the mic top doesn't even match. Some dealer in Chattanooga selling peoples orders, " it was here yesterday, I don't know what happened to it"
I can't imagine being so desperate for a mass produced vehicle to pay a 30 grand premium knowing, that as soon as production kicks in its a 40 grand loss. Must be nice to have money to burn to be the first on your block.
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Off topic ... This is why I don't want a hard top. Mismatch colors and I've seen video of them totally misaligned too. Very disappointing.
 

Rahkmalla

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It doesn’t matter if it is a Bronco or a trip to Disneyland- people find ways to pay for the things they really want.
As far as money matters- I could pay cash also but that money earned 18% last year. So why would I pay cash when I can actually earn mo ey by financing it?
If you really expect this falsely propped up economy to continue to pump out 18%, then have at it. Personally I see a crash coming and pulled all my money (except my 401k and my sons 529, which as much longer term investments will have plenty of time to rebound). If the market dips and settles i'll remortgage my house and put money back in to the market.

The velocity of money is at a 20 year low even before COVID. Couple that with the insane housing market and all the stimulus and extra unemployment money (and the fact that 61% of americans wouldn't know how to pay for a suprise $1000 emergency) and you've got a crash brewing. Reckless spending in the summertime was a result of pent up urge to go out. Now you've got that transitioning right into holiday spending. But once people start opening up their credit card bills in February, discretionary spending is going to go way down, and when you choke money velocity even further you start to see the economy retract. Considering all the logistics problems in the world causing massive inflation, a retracting economy coupled with inflation (not to mention the standard US route to solve economy problems, lowering the interest rate, is not doable. You can't lower it anymore) spells disaster.

I'm glad you got your 18%. I pulled out a little too early and only made 14~% on my money year over year. Holding out for more can pay off, but it can also hurt too.

Also, always remember the standard amount of long term growth you should expect year on year is 6-8%, 18% is an anomaly. Baseline new car rates now are 3.9 for 60 right now (police&fire or military rates will do much better) 7% after taxes runs you about 5%, so in a normal economy you're talking 5% average vs 3.9 guaranteed. I'll take the guarantee.
 

69351windsor

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PT Barnum - "A sucker is born every minute"

.... more like every second!
 

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I should take delivery of my BD next week. Not going to lie, if someone offers me $30K over what I paid, I'm going to be tempted.
I am guilty of greed. My 2020 GT500 I bought new had 3,400 miles on it when I sold it for $8,000 more than I paid six months prior. I miss the car, but I could not pass up the money. So I am in line for a 2022 as the number one allocation at my dealership. I know it's not a Bronco though but same in principle. I do not plan on selling that one but damn, $30,000 is $30,000.
 

MyBroncoNotYours

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I know i'm not "well off" but I like to think i'm comfortable. My house has no mortgage, my cars are paid off (sold the 3rd car for cash when the used market was crazy so I'm sitting on that cash plus my normal emergency fund plus my bronco fund) and I'm buying my bronco cash. I know 61% of the country couldn't afford a surprise $1000 emergency, so when I compare my situation with most people i feel incredibly lucky. but GOD DAMN there is too much stupid fucking money flying around when people can throw 30 fucking grand out the god damn window rather than wait one year. Who the fuck are these people with all this god damn money? Like I'm earning 6 figures and I'm buying a basesquatch, and I see people making less than me driving GLSs and shit, and you just KNOW they are leased and skipping meals to make the payments.

The entire system this economy is built on is ready to tumble at any moment 2008 style or 1929 style. There's just too much blind consumption.
A lot also live with their parents and don’t pay rent. I live in California and a coworker who easily makes $20K less than me has 3 cars (one is a project car) because he lives with his grandfather and doesn’t pay rent. If I didn’t pay rent here I’d be saving $2K/mo. With that I could buy a $100K car and afford the payment easily. It’s stupid but I could do it.
 

HoosierDaddy

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I know i'm not "well off" but I like to think i'm comfortable. My house has no mortgage, my cars are paid off (sold the 3rd car for cash when the used market was crazy so I'm sitting on that cash plus my normal emergency fund plus my bronco fund) and I'm buying my bronco cash. I know 61% of the country couldn't afford a surprise $1000 emergency, so when I compare my situation with most people i feel incredibly lucky. but GOD DAMN there is too much stupid fucking money flying around when people can throw 30 fucking grand out the god damn window rather than wait one year. Who the fuck are these people with all this god damn money? Like I'm earning 6 figures and I'm buying a basesquatch, and I see people making less than me driving GLSs and shit, and you just KNOW they are leased and skipping meals to make the payments.

The entire system this economy is built on is ready to tumble at any moment 2008 style or 1929 style. There's just too much blind consumption.
Omg, thanks for this.....
I AM NOT ALONE !!!!

I'm not quite as debt free as you, but as you said, comfortable.
You think this is bad, go to a popular offroad park on a major weekend.
Massive, wtf did all this $$$ come from? moment.
RVs the size of Noah's arc pulling toy haulers equally as large, as far as the eye can see!
 
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