Interest rates keep climbing and houses are getting harder to sell. All we need now is news of US banks going broke and we know we’re in trouble. What? When?
Money spent on vehicles that won’t be used as regular transport is an indulgence. It normally occurs when financial risks and pressures are low and when the cost of a car might come from selling an underperforming investment or tapping into home equity.
Once those avenues of acquisition close off, the funding choices come down to risking any savings you have or whatever amount you are able to borrow. Either option can commit the buyer to paying the lowest possible price rather than considering quality. Cutting corners will become more apparent the longer you own the vehicle.
At this point in time, a rerun of the Global Financial Crisis seems unlikely. However, if the banking decline spreads and sources of funding tighten further, anyone holding cash will enjoy some interesting opportunities.
As occurred when a plunge afflicted local muscle car values back in 2007-09, there will be more to this imminent decline than the misfortunes of some US banks and mortgage brokers.
Australia back in the Noughties had recovered from recession, property prices had climbed and interest rates were low. Today we see a tightening money market and anticipation of a property slump, with effects most commonly seen at the top end of the speculative vehicle market.
Esta historia es de la edición Issue 478 de Unique Cars.
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Esta historia es de la edición Issue 478 de Unique Cars.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
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SHANNONS HOT LAPS AT NÜRBURGRING
SHANNONS latest promotion has something any car enthusiast can only dream of.
READER RIDES
HAS THERE EVER BEEN A CONCEPT CAR SO UNLIKELY TO REACH PRODUCTION? THIS AUSSIE-BASED PLYMOUTH PROWLER IS PROOF THEY TRULY EXIST
GM'S JEWEL
ROB HAS DISCOVERED THERE’S MUCH MORE TO CADILLAC’S EARLY HISTORY THAN V16 ENGINES, TAIL FINS AND ELVIS PRESLEY’S PINK FLEET
UNDER THE WEATHER
RUST NEVER SLEEPS, SO AT LONG LAST GLENN TORRENS PROTECTS HIS BOMBODORE'S PATINA
CLASSIC CLUBMAN
MARK CURREY FOUND HIMSELF JUMPING IN THE PROVERBIAL DEEP END WHEN HE AND HIS BROTHER CRAIG TACKLED THE RESTO
MUSEUM OF VEHICLE EVOLUTION
NESTLED IN the Goulbourn Valley in Central Victoria, just south of Shepparton, is the Museum of Vehicle Evolution or MOVE for short. Recognised as one of the leading museums in the country.
TAKE A DASH!
DESIGN-FOR-MANUFACTURE GIVES NO THOUGHT TO THOSE WHO HAVE TO WORK ON THE DAMN THINGS
The LITTLE BULL
LAMBORGHINI V12S WERE THE BEDROOM POSTER FAVOURITES, BUT SANT AGATA'S V8 URRACO IS THE LESSER-KNOWN BABY SUPERMODEL
SHELBY MUSTANG MARKET REVIEW
Carroll Shelby created the business model, followed in the early 1980s by Peter Brock, for selling modified versions of popular road cars with the blessing of, but no direct involvement from the manufacturer.
SNAKE CATCHER!
SHELBY AND FORD GO HAND IN HAND, BUT THE 69 GT MODELS WERE THE END OF THE ROAD AS CARROLL WAVED GOODBYE, TO THE BLUE OVAL BRAND
