USED CAR MARKET IS INSANE!!!!!!!

[ChargerChallenger]

@AeroF16, after receiving my reply PM .



Wish I could do magical things.

 

[Hellcatcfp]

That's cold CC, I mean car pimp . By the way, that is damn expensive coal. . Futures contract gone wrong.

 

[AeroF16]

@AeroF16, after receiving my reply PM .

View attachment 46683

Wish I could do magical things.

Those are only $1 bills. Maybe I should reconsider...though I do love strip clubs. @Stormtrooper1320 , I think you should consider sending @Hellcatcfp a PM...

 

[Hellcatcfp]

Those are only $1 bills. Maybe I should reconsider...though I do love strip clubs. @Stormtrooper1320 , I think you should consider sending @Hellcatcfp a PM...

I think @Stormtrooper1320 should consider changing his account to StormStripper1320 .

 

[Stormtrooper1320]

Those are only $1 bills. Maybe I should reconsider...though I do love strip clubs. @Stormtrooper1320 , I think you should consider sending @Hellcatcfp a PM...

Who do you think comes to the club?? And who do you think gave those dollar bills????



Gotta go.....time for my next set

 

[DGatzby]

For the first time ever I think it could be beneficial to have payments on vehicles.

Buy them with 84 months loans, or whatever it is these days, and towards the end the dollar may be so weak that a $1,000/mo payment is really only $100.

Well especially for 72 months at free interest. If I can off the ‘19, then I may borrow the whole amount for a new one! I’ll use the cash to make a killing after Jo & the Ho wreck the place and the market crashes. Shit I’ll take a new one over a used one for nearly the same cost to my pocket.

 

[coolblue]

I just can’t get my head around it. It is my own fault. But I was even at a giant world manufacturer’s R&D Center and their techs had some wild bunch of computers set up and were explaining it. I still can’t get it. So where do you hide when your apparent pile of assets depreciate in minutes? If I send some real green backs away for “x” coin, how and where can I make it appear in my legit bank account again? To me it seems analogous to the dark web. It is there but I am not sure if I want to go there, even if I could. Right now, that seems really speculative, hell the NASDAQ and other lofty market levels seems more speculative every day. The FAS ETF is great in hindsight. That sucker can give heart attacks along with some of our other adventures. That is a tricky little dude. The banks have been hitting it right since this last pullback that is what we can clearly see. But, I would not buy in tomorrow. My point finally is I agree with @ChargerChallenger. I believe right now, good old cash or very liquid investments are the way to sit for a while.

Thanks for the reply. I could write about this all day. You are absolutely correct. You either get it or you don't. You can either wrap your mind around it or you can't. Some of the most successful business people I come into contact with don't get it . But they are all @65 or older. Intelligence isn't the factor, they are all very successful and run lucrative business's. The younger generation seems to get it but even a lot of them don't. Just try to get the concept that a lot of these coins are not just currency . They are like floating computers and they can do things. Like write smart contracts and then they get a fee for usage of the system (blockchain). Whether the crypto's go up or down , I believe they are here to stay and become a major way the economy runs. China gov't already has a coin and USA, UK central banks are creating their own. Check out Charles Hoskinson on YouTube and look up 'Thoughts on the Market and ecosystem'. He was one of the original creators of the Ethereum network and has developed a coin with his own teams. Hope this helps.

 

[DGatzby]

Thanks for the reply. I could write about this all day. You are absolutely correct. You either get it or you don't. You can either wrap your mind around it or you can't. Some of the most successful business people I come into contact with don't get it . But they are all @65 or older. Intelligence isn't the factor, they are all very successful and run lucrative business's. The younger generation seems to get it but even a lot of them don't. Just try to get the concept that a lot of these coins are not just currency . They are like floating computers and they can do things. Like write smart contracts and then they get a fee for usage of the system (blockchain). Whether the crypto's go up or down , I believe they are here to stay and become a major way the economy runs. China gov't already has a coin and USA, UK central banks are creating their own. Check out Charles Hoskinson on YouTube and look up 'Thoughts on the Market and ecosystem'. He was one of the original creators of the Ethereum network and has developed a coin with his own teams. Hope this helps.

Your welcome. I almost did some Ethereum last month with my Brother. But, in the end, I just could not understand how to get the money back into my accounts. Ha, it is easy enough to spend and send away. The tax consequences on earnings is not entirely clear to me. I had one go around with the IRS years ago, (thanks to one of my criminal past partners) and I do not want that again. Lost lots of money straight up sending it away before also. All of that and my trusting personality, believe it or not, causes me pause.

 

[NoCoHC]

Saw this interesting update from John Clay Wolfe the owner of GivemetheVin.com

We see market moves way before the press catches up. However, for those who care, we sold our thousand cars today and the car fever has cooled off in this heat. The car wholesale market was oversold huge, many took advantage and sold their used cars to companies like GivemetheVIN.com carmax and Carvana for at or more than they paid for it 1-2-3 yrs ago. Like lumber market, it just got goofy, and still is very high, higher today than years prior, but the helium balloon popped today. If you want to know what your blah blah blah is worth, I can tell you about 8% less this afternoon than before the automotive exchange bell rang in the 5 GMTV trading posts in Dallas Texas this morning. We set the market right here in the middle of the US. Some days are smiles, some are frowns. When you plan for the frowns, it’s not surprising. When a 3 year old Toyota Tacoma is selling at wholesale auction for the MSRP price it had on its window 3 and 4 YEARS ago, that shit ain’t sustainable. I read in the journal where lumber prices coming down quickly too. I think it’s good, hyper inflation is bad. I wrote about it few months ago when the used market when sky high, said yes we were making record profits but at what true inflationary cost? Like all capital markets, they tend to correct themselves, and hopefully that’s what we’re seeing starting now. TTYL

 

[mopar madness]

View attachment 46620 Agreed market is insane. DODGE STOP MAKING THE HELLCAT SO THESE BABIES CAN SKY ROCKET LIKE SUPRAS!

I almost reposted this, crazy isn’t it, 55-57grand trade in for my 2016 that I bought retail for $46 grand in Jan 2019.

 

[AeroF16]

Saw this interesting update from John Clay Wolfe the owner of GivemetheVin.com

We see market moves way before the press catches up. However, for those who care, we sold our thousand cars today and the car fever has cooled off in this heat. The car wholesale market was oversold huge, many took advantage and sold their used cars to companies like GivemetheVIN.com carmax and Carvana for at or more than they paid for it 1-2-3 yrs ago. Like lumber market, it just got goofy, and still is very high, higher today than years prior, but the helium balloon popped today. If you want to know what your blah blah blah is worth, I can tell you about 8% less this afternoon than before the automotive exchange bell rang in the 5 GMTV trading posts in Dallas Texas this morning. We set the market right here in the middle of the US. Some days are smiles, some are frowns. When you plan for the frowns, it’s not surprising. When a 3 year old Toyota Tacoma is selling at wholesale auction for the MSRP price it had on its window 3 and 4 YEARS ago, that shit ain’t sustainable. I read in the journal where lumber prices coming down quickly too. I think it’s good, hyper inflation is bad. I wrote about it few months ago when the used market when sky high, said yes we were making record profits but at what true inflationary cost? Like all capital markets, they tend to correct themselves, and hopefully that’s what we’re seeing starting now. TTYL

Maybe. I wonder what happens next month when people starting getting paid an extra $300/month per child, will demand sky rocket due to new found expendable "income"?

I bet most are going to spend it the minute they get it, probably already have spent it in their minds.

 

[Weather Man]

Thanks for the reply. I could write about this all day. You are absolutely correct. You either get it or you don't. You can either wrap your mind around it or you can't. Some of the most successful business people I come into contact with don't get it . But they are all @65 or older. Intelligence isn't the factor, they are all very successful and run lucrative business's. The younger generation seems to get it but even a lot of them don't. Just try to get the concept that a lot of these coins are not just currency . They are like floating computers and they can do things. Like write smart contracts and then they get a fee for usage of the system (blockchain). Whether the crypto's go up or down , I believe they are here to stay and become a major way the economy runs. China gov't already has a coin and USA, UK central banks are creating their own. Check out Charles Hoskinson on YouTube and look up 'Thoughts on the Market and ecosystem'. He was one of the original creators of the Ethereum network and has developed a coin with his own teams. Hope this helps.

Name any service or product with no moat and ease of entry that can defend its pricing. There are 5,000 to 10,000 crypto currencies and multiplying fast. There is no ability for any developed crypto for any use you can use it for to prevent unlimited competition for how the coin is used. This is why "many" people don't get it. Crypto is a useful product, it just doesn't have any ability to protect itself from the invisible hand.

But, if enough people think something has value, they are golden as long as enough other people thinks it has value.

 

[1971demon]

I remember sitting with my Bro in his restaurant when nobody came through the door one night for hours. We discovered what has become our favorite ETF. FAS was btw $2-3 bucks when we discovered it. It has been up to $125 recently. Ha, it was in the mid-$20’s last spring!! GE was down to $6.66 on the worst day during that period in 2008 after enjoying prices in the mid-30’s. I was on a business trip driving one day. Went by a gas station in the morning and gas was $x. Came by in the afternoon the shown price on the board was like -$0.20 less, but the pump was $0.30 less. They said they stopped trying to keep up, the price was falling that fast. That is scary stuff, and it may return. When gas was going down that fast you could not give stocks away the prices were falling so fast also. Money on paper was evaporating fast, the overextended people with all the new homes and cars could not find their asses fast enough. Get into CASH now! It will be real valuable again soon. Your BS bit coin will spend about like dirt.

My business did better than the previous non Covid year....(food ingredient distribution was considered essential service in NYS)...never qualified for the subsidy...even with 100% equity in my real estate holdings..including my business properties I am more than concerned about how this is all going to shake out...I converted from markets to cash and precious metals....and plan no major purchases in the near future...I don't believe anyone has a handle on what to expect...

 

[AeroF16]

My business did better than the previous non Covid year....(food ingredient distribution was considered essential service in NYS)...never qualified for the subsidy...even with 100% equity in my real estate holdings..including my business properties I am more than concerned about how this is all going to shake out...I converted from markets to cash and precious metals....and plan no major purchases in the near future...I don't believe anyone has a handle on what to expect...

What's driving you guys to cash right now?

Also, is it a defensive position, to protect what you have or is it offensive, to be ready to capitalize on the next crash?

 

[Hellcatcfp]

Name any service or product with no moat and ease of entry that can defend its pricing. There are 5,000 to 10,000 crypto currencies and multiplying fast. There is no ability for any developed crypto for any use you can use it for to prevent unlimited competition for how the coin is used. This is why "many" people don't get it. Crypto is a useful product, it just doesn't have any ability to protect itself from the invisible hand.

But, if enough people think something has value, they are golden as long as enough other people thinks it has value.

Disclaimer: I own some Crypto

My main issue with Crypto is that it's value is dependent on what others think. So, I tend to view it more from a gambling perspective vs. an investing mindset. When Elon Musk's tweets can move the market it is kinda of silly. For now I play but don't view it as an "investment."

 

[1971demon]

What's driving you guys to cash right now?

Also, is it a defensive position, to protect what you have or is it offensive, to be ready to capitalize on the next crash?

With me its more of a defensive mechanism, I subscribe to a simple philosophy, pigs get fat, hogs go to slaughter. I have done exceptionally well since 2010. I'm 68 financially secure to weather a major financial correction, with the means to capitalize if its significant, be it the poker table...the dinner table...or the financial arena...I know when to leave the table...and if I'm wrong,so what.

 

[AKLA]

Market is insane, just listed my 2020 for 79k and it sold and picking up another one. Kinda nuts


Sent from my iPhone using Tapatalk

 

[AeroF16]

When Elon Musk's tweets can move the market it is kinda of silly.

This is exactly why I am not into crypto. The volatility seems insane to me.

 

[DMNkilr]

2015 Six speed, nothing special, Vroom offer went up $1000 as compared to last week

 

[DGatzby]

My business did better than the previous non Covid year....(food ingredient distribution was considered essential service in NYS)...never qualified for the subsidy...even with 100% equity in my real estate holdings..including my business properties I am more than concerned about how this is all going to shake out...I converted from markets to cash and precious metals....and plan no major purchases in the near future...I don't believe anyone has a handle on what to expect...

I was talking about 2008, that was some scary stuff. Actually he has an opposite story for Covid. He remained open and with the government programs, he has done well, so has his loyal employees.