I want to go look at a used pickup Monday. Cargurus says it's $2322 under market value. Think I can do better? Wait? I don't really need a different truck, but I've been looking for a good year now.
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Originally Posted by pwd72s
4) Consumer no longer wants the car. Maybe they outgrew it. Or maybe it keeps breaking. So consumer wants to trade it in.
5) But dealer can't trade the car in because the consumer owes WAY too much on it. So dealer asks consumer for lots of money down to cover the difference.
6) But of course, the consumer doesn't have $1,000s to cover the difference between what they owe on the car and what it's worth. And here comes the perfect storm...
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So there will just be thousands of abandoned cars sitting around, waiting for the repo man? Seems unbelievable, but then I've seen my stepdaughter and her husband's car buying skills, and I believe it.