Car shopping in today’s world...

vtec to vvel · 11-03-2022, 07:49 AM

Quote:

Originally Posted by BORNGEARHEAD

Auto inventories are really starting to fill back up. Ours has tripled in the last month with much less buyers. Prices should start dropping pretty hard. There's gonna be a lot of people upside-down in their car notes.

This is assuming that you have buyers that actually qualify for a loan, regardless of pricing. Feds just raised rates another 75 bps yesterday (4th one this year and another expected before 2023, and with a few more expected in 2023) to discourage borrowed spending and lessening the money supply in the economy via quantitative tightening.

When the Feds drastically reduced rates (COVID), you had an imbalance of too many buyers and too little supply. At the rate of the Feds increasing rates, it seems we will be headed to the opposite end of the issue with too few buyers and too much supply.

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