The HotRod Price Speculation Thread

Will People Pick Up Their Ordered GT500?

  • Yes, They Are Ballers

    Votes: 8 32.0%
  • No, The Pain Is Real

    Votes: 17 68.0%

  • Total voters
    25
  • Poll closed .

Weather Man

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I touched on this in the Covid 19 thread, but decided it needed its own thread.

So, just how plentiful will be the supply on new car lots of GT500, Corvette and Demons be in 2 months?

Is a guy whose small business is in mortal danger gonna pick that car up?

Anyone remember what happened during the great recession? I know I sold a LOT of powersport toys to guys with home equity lines that stopped overnight, but I wasn't in the Mustang market then.

How about classic cars? Cream of the cream will do OK, what about the not so clean?
 

lOOKnGO

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I thinking about that this morning. I have an eye on later model, but before going to see it I'm reminded of a barn find boss 302 the guy would sell for 50k. (So I have been told) I think now is the time to look at the boss.

My over all opinion of buying most cars for investment has changed. Mostly due to the attitudes of the younger generation. I just dont see big gains like there used to be.
 

q6543

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New cars wont really be affected... nothing is getting made so 2020/21 model years may be desireable 50 years from now.

Used hot rods...If you need a loan for it... prices will need to drop or you are not gonna sell it.

We are CREDIT rich... very few cash rich people.
 

DSG2003Mach1

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guys ordering new toys - just depends...some businesses are dead in the water and others are busier than ever


Im gonna start setting up alerts in various places for toys Ive been considering. I think used stuff is gonna start going cheap and Im ready to buy
 

jmsa540

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Wow, good point.
I thinking about that this morning. I have an eye on later model, but before going to see it I'm reminded of a barn find boss 302 the guy would sell for 50k. (So I have been told) I think now is the time to look at the boss.

My over all opinion of buying most cars for investment has changed. Mostly due to the attitudes of the younger generation. I just dont see big gains like there used to be.

Sent from my SM-G892A using the svtperformance.com mobile app
 

blk02edge

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I think its going to be a relatively small window to buy, contrary to how it seems, this will blow over and people will be picking up the tools and back to work. Not sure I believe the market wont rebound quick as this is nothing like the 2008 crash.
 

Weather Man

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I think its going to be a relatively small window to buy, contrary to how it seems, this will blow over and people will be picking up the tools and back to work. Not sure I believe the market wont rebound quick as this is nothing like the 2008 crash.

The market might come back quickly, but the bottom line losses are already severe for many.
 

noco5.0

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I've been thinking about picking up a used Hellcat for awhile now. I've owned a couple of them got rid of my last one and regret it. Used low mileage 15-16's have been holding their value surprisingly well. I think they are about ready to tank so if I find a good deal I might jump on it. I listen to the podcast hosted by John Clay Wolfe who runs GivemetheVin.com. It's normally goofy and he bids on cars when people call into his radio show. Last week he got serious and described a recent wholesale auction where only about ten percent of the cars sold where it's normally closer to 70 percent. I know they've since suspended many of the wholesale auctions. I would think the values will drop dramatically.
 

Weather Man

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I've been thinking about picking up a used Hellcat for awhile now. I've owned a couple of them got rid of my last one and regret it. Used low mileage 15-16's have been holding their value surprisingly well. I think they are about ready to tank so if I find a good deal I might jump on it. I listen to the podcast hosted by John Clay Wolfe who runs GivemetheVin.com. It's normally goofy and he bids on cars when people call into his radio show. Last week he got serious and described a recent wholesale auction where only about ten percent of the cars sold where it's normally closer to 70 percent. I know they've since suspended many of the wholesale auctions. I would think the values will drop dramatically.

I think distressed owner sales are already showing up, don't wish that reality on anyone to be clear.
 

SID297

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The market might come back quickly, but the bottom line losses are already severe for many.

The problem is that month is gone forever for many. I was having coffee with the owner of a condo resort (600 units) here in MB this morning. He said he's in far better financial shape than more (basically no debt) and he is still burning through $500,000 per month. It's prime golf season and rooms should be going for $180/night right now, and they are basically shut down. That lost income isn't coming back. People who have been racking up credit card debt and missing rent/mortgage payments are not going to be going on vacation this summer.
 

Weather Man

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The problem is that month is gone forever for many. I was having coffee with the owner of a condo resort (600 units) here in MB this morning. He said he's in far better financial shape than more (basically no debt) and he is still burning through $500,000 per month. It's prime golf season and rooms should be going for $180/night right now, and they are basically shut down. That lost income isn't coming back. People who have been racking up credit card debt and missing rent/mortgage payments are not going to be going on vacation this summer.

Gonna be a lot of unreturned dealer calls about picking up your car. Insult to injury in MN, a dealer cannot refuse to return earnest money.
 

tistan

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New cars wont really be affected... nothing is getting made so 2020/21 model years may be desireable 50 years from now.

Used hot rods...If you need a loan for it... prices will need to drop or you are not gonna sell it.

We are CREDIT rich... very few cash rich people.
I don't know about that. We see the value of 80s-90s car going up right now.
 

blk02edge

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The market might come back quickly, but the bottom line losses are already severe for many.
Oh for sure but you wont see the mass sell off for a bit because most people are getting everything deferred and holding on till they physically cant any more, I believe you'll start seeing the real deals in about a month but as the positive news begins to roll in virus-wise, which it will then things will come back up close to as they were.

Just my predictions
 

GOTSVT?

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I was fortunate to get a vin and a late April build date on my gt500. That has all been pushed back until who knows when. It may be a blessing in disguise having the additional time. My business has slowed down somewhat, but I also don’t buy toys on behalf of the business. If shit gets really tight when the car is delivered, then I may pass on it. To early to say, as my business is indirectly tied to agriculture. I also know people aren’t spending money based on current market trends. Time will tell! I sure hope I don’t have to sell any of my toys! Push comes to shove I’ll do what I have to.
 

roadracer247

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I suspect more than a few potential GT500 owners have lost their jobs/businesses. I'd expect those owners would back out of their order. Understandably, of course. But overall I'd imagine the enthusiasts will still want their toys.

If I had to guess, I'd say a majority of people overextend themselves financially on a regular basis. Covid-19 probably won't change those mindsets. Just my opinion.
 

Morgan

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I don't think I've seen a thread about this app- Rally Road, but it's an opportunity to invest in alternate asset classes, and in this case- rare luxury cars.

Investing in shares of collector cars: Stupid or savvy?

They've raised $10M in venture funding so definitely have backing, but probably not enough buyers to feel the impacts of Covid...but maybe you could buy shares in cars that would otherwise trade at higher value??
 

Weather Man

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I don't think I've seen a thread about this app- Rally Road, but it's an opportunity to invest in alternate asset classes, and in this case- rare luxury cars.

Investing in shares of collector cars: Stupid or savvy?

They've raised $10M in venture funding so definitely have backing, but probably not enough buyers to feel the impacts of Covid...but maybe you could buy shares in cars that would otherwise trade at higher value??

I'm always amazed at the ability of scammers to come with new and ingenious ways to fleece sheep.
 

Klaus

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I have been following bring a trailer auctions and have not seen any weakness yet. The recession is just beginning, have a look in September when unemployment is >10%.
 

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