Pulling cash out of the Raptor

[Dtsgli]

How are t

That’s all the innovatory my dealer has.

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he sales guys making money? Are dealerships taking care of their people during this time?

 

[10SpdsOfFury]

How are t

he sales guys making money? Are dealerships taking care of their people during this time?

A sales guy told me they are selling whatever new innovatory they get in daily and they haired a guy full time to handle the KKB cash offers. So they are buying as much used stuff as possible.

 

[Trailmaker]

I got a $62K offer from Vroom today on my 2018 802a SCREW, with 42k miles. I owe less than $14k on it. Not sure how I can turn down almost $50k to get out of the truck...

That’s a deal for sure. Unless you have a lot of money in your mods?

 

[Whaler27]

I had a bit of a silver buying issue up until a month ago. I had to stop and take a breath. Under contract for a 2nd rental (new build), about an hour out of town where prices are reasonable. Our existing rental is in Austin, was valued at 260-270ish at election time. Same floor plan in the hood listed for 320, sold for 360 in January. Another one popped up, listed for 360 at end of Feb, just closed at 430 something.

Since it's all play money at this point, why not take a note on the truck.

What you’re describing is the impact of the great California migration... The same thing happened to us in Oregon. Several times in fact. Now we’re seeing herds of people from New York and New Jersey do the same thing to us. They’re all coming from places where our $250,000 houses cost $800,000, so they’re happy to pay $700,000. There’s a shortage of homes, and a shortage of building supplies, so this is likely to continue for a short time, but it’s going to collapse eventually, because the Government can’t pump imaginary money into the economy forever, there’s a finite source of people who can move, and as more accumulate in the destination it becomes less and less attractive.

Portland, our biggest city, has been destroyed over the last ten years. We don’t even visit anymore. The downtown is covered in tents and bums, the stench is worse than a stockyard, the homicide rate is up 800%, they are defunding police, and there is garbage, graffiti, and ruined property everywhere. Eventually, even the folks in New York and LA will hear about it and decline to move here.

I sold my 16 year old jet boat three weeks ago for $1500 more than it cost new, and the add I placed caused a friggin stampede. I should have asked for at least $5,000 more. A guy I work with sold his ten year old Duckworth for $5,000 more than he paid. Our motorhome is three years old — and I’m seeing six and seven year old versions of the same model selling for $20,000 to $30,000 more than we paid. The world has gone crazy, and none of these values are based in reality. When we stop paying people to stay home from work production will meet of exceed demand again. I’m bracing for impact.

I don’t think borrowing money on a vehicle makes sense unless it’s the only place you can find money and you need it to buy the deal of a lifetime in your business or personal life (and maybe not even then). If I was younger, I’d think seriously about selling everything I own in this inflated market and then I’d buy Gold, Swiss marks, and Japanese Yen. But I’m old, and dont Have much time left to enjoy the things I’d be selling, so I’m holding on and bracing for impact and Carter-era inflation.

 

[GordoJay]

.... Our motorhome is three years old — and I’m seeing six and seven year old versions of the same model selling for $20,000 to $30,000 more than we paid...

I'd dump that puppy and plan to buy another in two or three years. For the last year, wheels-based travel has been it and demand for RVs went insane. In a couple of years, when you can fly overseas or take a cruise or even go out to dinner wherever you want, a lot of those RVs are going to hit the market used and in good condition. Prices will crater.

 

[Lawman]

Absolutely right! Dump it, bank the money, and replace it in a year after the market has crashed and RVs are selling for 40 cents on the dollar. Again.

Sorry to hear about Portland. It was beautiful fifteen years ago. I watched this happen to Seattle and San Francisco too. The simple truth is, if you tolerate bad behavior and feed and service the people who engage in it, the bad behavior will multiply. It’s kinda like leaving bowls of cat food in your back yard. Pretty soon you have raccoons, possums, skunks, rats, mice and their feces all over your yard. Seems obvious, but one city after another is putting out the cat food and eliminating the government controls.

Wait until Oregon goes the next step and starts releasing the most violent criminals and stops holding serious criminals pretrial. It’s going to get worse.

 

[Whaler27]

I know you guys are right, but when you get to a certain age every summer you’re vertical and active is worth enjoying. If we sell the RV and have to wait 18 months to replace it we’ve missed two summers.

And Oregon has already started letting criminals out early. We have terrible property crime rates because we do nothing with property criminals. Used to do nothing with violent criminals too... as in a ”life” sentence for murder amounted to an 8 year sentence, but Oregon citizens got pissed and passed a mandatory sentence law for the worst violent crimes. That worked for 25 years, but the Oregon legislature, now only about 20% Oregonian, is hard at work undoing that law so we can spend less on incarceration, and more putting cat food in the yard to attract more pests.

 

[Lawman]

That’s a shame. The west coast is so beautiful. Sorry to see it abandon the structure and rules that made it great.

 

[Russ103]

I was very close to selling as I was offered $70k for my truck that I paid $60k to buy. The only issue is, there isn't anything else I'd drive in the meantime. I initially was looking at a diesel rebel, but after further inspection, the raptor just is in a class of it's own and I wouldn't enjoy driving it every day to pocket a few extra thousand.

I have to live where I do for my job and I have about 5 years until I retire and can move. One of the reasons I bought my raptor was that it makes me smile everyday to drive it and makes this place suck less. Losing my raptor to make some cash would just send me back to where I was before.

If you have a lot of equity in the truck and don't mind driving something else, as others have said, now is the time.

This sounds like a super first world problem, but there is nothing in the $70 to $80k range that I would want to drive besides my Raptor.

 

[GCATX]

All you guys saying the housing market is gonna crash...Well it may very well crash, maybe not. I think the bigger issue is going to be inflation, hence the RV's, houses and raptors going up in value/per $. That 300k house and 80k raptor are gonna cost 1m and 300k eventually. If hyperinflation hits, the man sitting there holding the extra stuff that can be turned into $$, wheelbarrows full of $$, will come out ahead. Not the guy with $1m sitting in the bank. No way I would cash out and have money sitting in the bank right now. No way.

Now whether or not there will be anyone with enough $$ to purchase your luxury items may be another story, but the purchasing power of a dollar will not be what it was a few years ago, for a long time. It seems like a good time to leverage your assets and buy more stuff, while interest rates are low and a dollar will still buy something.

Buy rental properties. With the government doing eviction moratoriums, and the huge number of mortgage forbearance occurring, the fed govt is very likely to step in and grant some type of rental allowance for most people to have a place to live. Like section 8 on steroids. I don't agree with it, but that is where we are heading.