Strange Mud
Autocross Champion
- Location
- Small Town CT
- Car(s)
- Assorted
why not the mini-quad?
7
Prices back down to earth
- Thread starter MonkeyMD
- Start date
shovelhd
Autocross Champion
- Location
- Western MA
I couldn't disagree more. There will be at least 3-4 significant Fed rate hikes in the next year, at least 50 basis points each, and that may not be enough to turn this inflation spiral around and get it back to the pre-pandemic 2% target in a reasonable amount of time. The last time we went through this, 30 year fixed mortgage rates were at 17%, making the Fed rate around 15%. We are nowhere near that now. With higher rates comes decreased demand that drives pricing down. Most people here are smart enough not to leverage the shit out of themselves to buy a car, but I can't say the same for the rest of America. They don't think cost, they think payments.
The market for everything except essentials is definitely softening. Vehicles that are not in high demand like GTI's, for sure. I haven't seen any real price drops for in demand vehicles like Mercedes Sprinter vans, for example.
Can't really compare the present to the past though. House prices are 3X+ to what they used to be. The rate will not be 15%. 4.5-5.5%, yes. This is going to end quicker than most think (just my view). People are already running out of money - pockets tighten - we're out of this by EOY 2023. 2023 will be rough for a lot of people.
Superfreak
Autocross Champion
- Location
- Denver
- Car(s)
- ‘19 M2C, ‘05 Taco
Sure, Sir you sound like you know what you’re talking about. I do hope that we have learned from our past and that the interest rates don’t go sky high. I think we’ve been taught to think in terms of terms of payments, for obvious reasons.
Regarding the car market, yeah I see Golf prices are getting to be more normal, but other cars are very much in demand and I think we’ll see that corrected if we can ever get out of this supply chain situation. Hopefully not more than a year but again, I’m no economist. Thanks for the insight.
That's what I paid for my 2016 in November of 2019. It was a bit high but I was okay with it for a low mileage, manual 2dr. This one looks to be on the higher side of mileage, and a few years older given the time... but I still think the price is trending in the right direction.
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Dog Dad Wagon
Autocross Champion
- Location
- Go Birds
- Car(s)
- 16 Touareg TDI
We are looking to sell and consolidate into just my car, so yeah we fucked ourselves by sleeping on it.
Diggs24
Autocross Champion
- Location
- de plains! de plains!
- Car(s)
- 2015 GTI
But now you can sleep IN it.
MonkeyMD
Autocross Champion
Just feel like people were trying to sell similar cars, maybe with 50k miles for $27k just a few months ago.
Parabola
Go Kart Champion
- Location
- Black hole sun
- Car(s)
- 15 GTI, 22 Tiguan
Back in 2015 I paid like $23k for my brand new GTI. Good times..
Yup 22.5K for my brand new 2016 GTI S in 2016. Was such a steal compared to everything you see now.
mrmatto
Autocross Champion
- Location
- Jacksonville, FL
- Car(s)
- 2024 GTI DSG
back in 1938 I paid $12 for a house 
DrFunkalupicus
Autocross Champion
- Location
- Topeka
- Car(s)
- 2016 VW GTI S
I feel like I got kind of lucky when I snagged my GTI. In Aug 2020 w/ 31,000 miles, I picked it up for $16,500. Shortly thereafter, the prices shot through the roof.
Once a month, I sit in a 2hr meeting at work, a forum about consumer credit. And we have a half an hour "economic update" presentation from someone from Moody's Analytics, which is one of the largest financial analysis companies in the country.
I can safely tell you that anybody who trys to predict what will happen is pulling shit out of their ass. You know that scene in South Park where they use a headless chicken to make decisions for the world economy? It's scary how accurate that is.