Ha...sometimes people just like to complain. It will be very interesting to see how these sky high used car prices hold up. If I was that person with the Silverado....who can get 32K for it now, as opposed to 2 years ago when it was worth 18K, man, if there was a way to sell it and go down to one car for a bit...I'd be tempted. And then I'd wait for prices to come down.
I think of the person paying 32K for that seven year old truck now.....what's it worth in a year or even worse...two years from now? The auto industry isn't like the housing market. This is a real black swan event for the auto industry. And unlike housing, it won't take years for supply to catch up with demand. It will catch up pretty quickly, and that 32k Silverado will be worth less than the 18K it was worth in 2019....really fast. I think of people financing those deals now, not being able to afford the payment and being upside down in a way, way upside down.