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.
Ya eres suscriptor? Conectar
CHEVROLET C2 CORVETTE 1963-67
TWO YEARS after Jaguar made every other sports car obsolete with its E-Type, Chevrolet went a step further with its radical Corvette Sting Ray.
LOST & FOUND
THE WHEREABOUTS OF THIS RARE 1969 AMC AMX WAS FOR DECADES A COMPLETE MYSTERY, UNTIL IT WAS PULLED IT OUT OF A SHED IN ADELAIDE
IN THE RED!
AS OUR ROADS EMULATE THE DARK SIDE OF THE MOON, GOVERNMENTS ARE DOING THEIR BIT TO SHIRK ALL RESPONSIBILITY
Ray Ikin - 2001 MUSTANG & 2003 CV8
RAY IS FORTUNATE ENOUGH TO HAVE A BIG DECISION WHEN HE STROLLS INTO HIS SHED DO I TAKE THE MUSTANG OR THE MONARO?
1986 PORSCHE 928 S
THE 928 SHAPE MIGHT HAVE BEEN AN ACQUIRED TASTE FOR PORSCHE AFICIONADOS, BUT IT’S DESIRABILITY HAS IMPROVED WITH AGE
MODERN CLASSICS ZX-12R
KAWASAKI'S KING NINJA AIMED TO BE A HAYABUSA-BEATER
FLY DMC
THE CULT OF DELOREAN - THE MAN. THE MACHINE. THE MOVIE(S)
1972 FORD FALCON HARDTOP GT REPLICA
THIS FACTORY V8 FALCON HARDTOP KNOWS A THING OR TWO ABOUT BRIGHT AND DESIRABLE COLOUR COMBINATIONS
VALE MECUM AUCTION'S JOHN KRAMAN
A CORNERSTONE of Mecum Auctions and one of its most recognisable members, John Kraman, has died.
STOP IT!
PERHAPS THE CELEBRATION OF DIVERSITY IN GENERAL SHOULD INCLUDE CELEBRATING THE DIVERSITY OF HANDBRAKE TYPES
