Quote:
Originally Posted by JSH
That drop in wholesale value also means that many people that took out new car sized loans for 3 year old cars are now WAY upside down on loan value vs vehicle value. It will be interesting to see if the number of upside down loans leads to reduced used car inventory and drives wholesale values back up.
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Maybe upside down loans will cause a glut of inventory as the cars get repossessed.
About 5 years ago someone was predicting a used car "bubble" that would burst as people defaulted on payments. Don't recall that happening.
...not exactly a small car, but a 2021 Pacifica hybrid for $24k seems somewhat affordable.