Anyone have more details on specifically what these chips are and what they are used for in the "modern" automobile.
Used car market gets even more bizarre
181–190 of 340 posts
Re: Used car market gets even more bizarre
#182Here's the flip side of that from auto lenders. They are seeing a huge recovery benefit from repossession of vehicle after chargeoff. Lenders portfolios are seeing a net benefit in chargeoffs which has hardly ever happened in recent history. Even more bizarre. https://www.yahoo.com/now/ally-financial-ally-beats-q3-12451...
Another flip side effect. My dad is a CFO at a car dealership and tells me that the banks are having problems due to the lack of cars as well. A dealership will normally float all their inventory on a big bank note but they basically have no cars on the lot to sell which means the banks underwriting those notes are making no money on interest. Multiply it by thousands of dealerships nationwide and this has big impact…
This seems like a really good thing for the dealership. They are able to operate with ~0 inventory and ~0 inventory holding costs.
Re: Used car market gets even more bizarre
#183It would be interesting if house and car prices counted when reporting inflation figures.
housing and rent is ~1/3 of CPI. used cars are ~2.5%.
Re: Used car market gets even more bizarre
#184So is this a good time to sell my car if I don't really use it or should I hold onto it?
Probably the best time in history to sell a car you don't need
Re: Used car market gets even more bizarre
#185anecdotally; the lower end of the car market doesn't really seem affected. prices for 10+ year old cars that aren't "nice" but are easily reliable with regular maintenance still seem widely available and cheap. tangentially; I have always seen the premium for a nice car to be a really low value at normal income levels.
I'm trying to get rid of a 2007 Civic as I'm moving, and can't really seem to get a very good price for it anywhere...
Re: Used car market gets even more bizarre
#186Earlier quoted context omitted.
Will the insanity pass, though? There's talk of putting cameras in all cars starting in 2026 to prevent... drunk driving[1]?! What's next? I can't be alone in never buying a car that has this feature. [1] https://www.latimes.com/world-nation/story/2021-11-09/congre...
I still won't even buy a car with GPS. Seems I'm in a vanishing minority. It won't pass, because people born after 1990 have spent their adult lives in a world with surveillance machines in their pockets at all times. Their cars are just big phones. By 2040 you probably won't even be allowed to drive your own vehicle.
I have news for you: not getting a car with navigation doesn't mean squat.
Any vehicle sold with telematics available not only has GPS, but that telematics system is feeding the manufacturer data from the vehicle, including your location.
This happens whether you're subscribing to the telematics service or not. It's always on. Some vehicles do it multiple times an hour or more.
Re: Used car market gets even more bizarre
#187I am out of the country for a few months and was going to sell back my car but decided that at 0% financing it was actually an investment to let it sit. Not often does a used car become an appreciating asset, but here we are.
Re: Used car market gets even more bizarre
#188My car died, needing a new engine, so I was forced to get one in October. I usually only buy used, but prices are so inflated it didn't seem worth the premium. Used 2017-2020 Toyota Rav4's with 30-60k miles were the same price as a new 2021 model, if you could get one. I knew it was bad, but I was shocked of how bad it was. I went to multiple mega dealerships with 500-1000 cars that were all spoken for. Most had 0 ne…
I had to pay $2k over MSRP to basically get a contract signed to wait for my Corolla not even built yet by end of month. Dealers don't even try to get you to stay for cars. They know someone else will walk in and buy it if you don't. It's that insane.
Re: Used car market gets even more bizarre
#189Earlier quoted context omitted.
To be honest, not being allowed to drive your own vehicle is probably a good thing. See e.g. https://www.cdc.gov/injury/features/global-road-safety/index... . From the first few paragraphs: Road traffic crashes are a leading cause of death in the United States for people aged 1–54 More than half of those killed are pedestrians, motorcyclists, or cyclists. Drivers risk other people's lives, hence, other people have a…
It does wrestle a lot of control from the individual though. It's not hard to imagine possible abuses of power. Tracking everyone's movements is just the start. What if some government decided to deny service to someone? Or not let certain groups travel to certain places. Imagine opportunities for havoc due to hacking I'd still like driverless cars, but privacy and freedom of movement rights protections need to be th…
There are 2 separate aspects here: Driverless, and governement controlled. A driverless car might be a car like today's, except with a computer on board. Governement doesn't connect with your car at an individual level, even if they might adapt the road code a bit to make it more easy on the cars.
The problems you mention are real, but a driverless car doesn't change much. Havoc due to hacking is already possible today, with OTA software updates for cars. Tracking is also possible with cell phones. Driverless car software could be like GPS updates today: Some corporation provides a yearly update and that's it.
Re: Used car market gets even more bizarre
#190Here's the flip side of that from auto lenders. They are seeing a huge recovery benefit from repossession of vehicle after chargeoff. Lenders portfolios are seeing a net benefit in chargeoffs which has hardly ever happened in recent history. Even more bizarre. https://www.yahoo.com/now/ally-financial-ally-beats-q3-12451...
Wow, those are some terrible incentives. I've never had a loan, so maybe I misunderstand the experience. But I'd hate to owe money to somebody that is hoping I fail badly enough that they take my stuff and while keeping my money.
They're really only keeping the interest and principle up to that point.
Long story short, pay your bill.