Jailbreak Redeye's coming soon

[1971demon]

Interestingly bad, newtons law of physics in a nutshell what goes up must come down.

The price increases are unsustainable, what happens when the buyer of today's 500k house finds out his house is only worth 350k in 18 months? Now compound that with cars.

Lots of negative equity gonna be floating around come 2023.

Have cash on hand to pick the bones clean...

 

[DavidKFla]

Or it could end up like Venezuela.

 

[Confuzed1]

THIS. Houses are just big cars in a lot of ways, especially now. Everyone out there way overpaying will be completely upsidown soon. Foreclosures and repo‘s are going to be an issue soon after the values re-align to where they should be. And they will.

Totally agree with your train of thought. I'm looking to relocate, and real estate prices are WAY up. I look at the house and what little land it has....seems almost 100K over what I think it was worth two years ago (pre-covid). My crystal ball says the economy will get worse before it gets better once interest rates get raised next year. Hope I'm wrong...

Seems like a bad time to buy new cars too....ADM's on what little inventory is out there unless you're willing to order..

 

[2pac]

Have cash on hand to pick the bones clean...

Correct, we are in a holding pattern in terms of investments, buy low sell high

 

[Demoniccat]

THIS. Houses are just big cars in a lot of ways, especially now. Everyone out there way overpaying will be completely upsidown soon. Foreclosures and repo‘s are going to be an issue soon after the values re-align to where they should be. And they will.

A lot of record price being set on homes, a fair amount of bidding wars going on, houses on the market for record short times, I am no economist but when does the bubble burst, and how bad. Where are the people getting this money if a unusual amount of people don’t want to work. Are we looking down the barrel of a gun waiting to go off. A lot of people going into deep water just like their houses going upside down in the water.

 

[MJS73]

Interestingly bad, newtons law of physics in a nutshell what goes up must come down.

The price increases are unsustainable, what happens when the buyer of today's 500k house finds out his house is only worth 350k in 18 months? Now compound that with cars.

Lots of negative equity gonna be floating around come 2023.

Well, first, Newton wasn't an economist but I get your point.

What happens when the buyer of today's 500k house finds out his house is only worth 350k in 18 months? Nothing, unless he plans to sell. If he's just going to live in it then what difference does it make? The bank isn't going to force him to make up the lost equity. And he still has a house to live in.

 

[DavidKFla]

We're in the real estate business and I can only say about things in our market. Prices and demand is up because of people relocating from blue states and there is not enough housing inventory.
A large percentage are cash buyers because they have sold their long term previous homes for top dollar.

 

[Jack_Toepfer]

Well, first, Newton wasn't an economist but I get your point.

What happens when the buyer of today's 500k house finds out his house is only worth 350k in 18 months? Nothing, unless he plans to sell. If he's just going to live in it then what difference does it make? The bank isn't going to force him to make up the lost equity. And he still has a house to live in.

Assuming that’s a fixed rate loan… if it ain’t, he is going to lose it.

 

[2pac]

Well, first, Newton wasn't an economist but I get your point.

What happens when the buyer of today's 500k house finds out his house is only worth 350k in 18 months? Nothing, unless he plans to sell. If he's just going to live in it then what difference does it make? The bank isn't going to force him to make up the lost equity. And he still has a house to live in.

Right, just a figure of speech but it seems like the economy sits in this constant cycle of extreme ups and downs.

My prediction was based on ARM's, obviously at fixed nothing changes. I'm not sure how many people still do Arm's but there's a recipe for disaster on that front.

 

[MikeD1]

Don't forget what happened last time the housing bubble ran up like this ('07/'08) and crashed. Lots of ppl who were underwater had gone in on 5% down or 0 down loans and simply walked away when values tanked. Banks were dumping houses like crazy & many speculators got great deals. Gubmt stepped in and forced banks to rewrite 'forgiveness' loans at significantly reduced balances to lower payments & bring equity in line with the market.

I'm seeing the same thing playing out in our area right now, lots of ppl moving in with little or no money down under all these cheap & easy AG Dept underwritten loans. I'll bet real $$ the same thing happen when this all craters - these losers with no equity will get some sort of principal forgiveness & lowered payments courtesy of our tax $$.

 

[Trackhawk1025]

Koons response never seems to deny the 30k upcharge. So let's for a minute assume there really are only 3000 to be built and think back to the Demon. There were dealers ordering and selling them at MSRP. And that was a holy grail car. The JB is certainly not that. There is nothing groundbreaking other than you can now kill the resale value by uglying it up. There are members getting them at MSRP as we speak.
Koons may have begun to burn the bridge here, not sure. No one still has seen any release from Tim K. or Stellantis (ew) about there only being 3000 units, but even if that is true, 30k? That gets a C’mon man for sure.

i just called my local dealership and they said they’d place a sold order… I asked if they’re at MSRP… He replied NOPE +15,000…. I NOT paying over MSRP for a Hellcat Jailbreak. And I’m SUPER PISSED that it’s not open order….🤬

 

[dpcv8]

Their is zero point in a jailbreak unless you 100% configure it yourself.

 

[RAMBLE1]

______________________________________________________________

I received a reply from Koons Dodge, after I requested info on the Challenger Jailbreak.
"As far as the Jailbreak, Every Dodge dealership that is a Power Broker (such as us) will be able to order the Jailbreak. Dodge is only making 3000 of them and every Dodge dealership that is a Power Broker will get allocation for 2. There are no discounts available on the Jailbreak at which we will be doing 30k over MSRP with $5000 non refundable deposit. If you wish to proceed with the Jailbreak, let me know and I can build your request as ordering just opened up."

I was surprised, only 30k over MSRP, from Koons!!! I checked locally and the Dodge dealer would order a Jailbreak, without the exorbitant charges. Also, they wanted our Challenger Hellcat with extremely low miles and offered a really nice trade-in price. We will, in earnest, be talking with our local Dodge dealer.

I thought Koons would be a good deal with 5% under MSRP, I should have read the forum a little closer. I don't understand the difference between Koons and our local Dodge dealer, but I will be checking into this situation. The 30k over MSRP price, from Koons, is a non-starter!

UPDATE:
Went to local Dodge dealer, there is no 30k ADM charge for the Jailbreak. If you want the Jailbreak, small down payment, will order. I don't understand Koons Dodge. I plan to order a new 2022 red Jailbreak, from my local Dodge dealer.

 

[DavidKFla]

UPDATE:
Went to local Dodge dealer, there is no 30k ADM charge for the Jailbreak. If you want the Jailbreak, small down payment, will order. I don't understand Koons Dodge. I plan to order a new 2022 red Jailbreak, from my local Dodge dealer.

The $30K ADM is a charge added on at the dealership, not Dodge.

 

[1971demon]

Right, just a figure of speech but it seems like the economy sits in this constant cycle of extreme ups and downs.

My prediction was based on ARM's, obviously at fixed nothing changes. I'm not sure how many people still do Arm's but there's a recipe for disaster on that front.

ARM's for 20/30 year terms...is risky business

 

[1971demon]

Totally agree with your train of thought. I'm looking to relocate, and real estate prices are WAY up. I look at the house and what little land it has....seems almost 100K over what I think it was worth two years ago (pre-covid). My crystal ball says the economy will get worse before it gets better once interest rates get raised next year. Hope I'm wrong...

Seems like a bad time to buy new cars too....ADM's on what little inventory is out there unless you're willing to order..

I'm going to die in my present home (100% equity)..and die with my cars..(100% equity)..I'm gonna be 69 in 90 days...I don't give a Fuck...now if I'm 35/45 ?..whole different narrative ..

 

[AeroF16]

Don't forget what happened last time the housing bubble ran up like this ('07/'08) and crashed. Lots of ppl who were underwater had gone in on 5% down or 0 down loans and simply walked away when values tanked. Banks were dumping houses like crazy & many speculators got great deals. Gubmt stepped in and forced banks to rewrite 'forgiveness' loans at significantly reduced balances to lower payments & bring equity in line with the market.

I'm seeing the same thing playing out in our area right now, lots of ppl moving in with little or no money down under all these cheap & easy AG Dept underwritten loans. I'll bet real $$ the same thing happen when this all craters - these losers with no equity will get some sort of principal forgiveness & lowered payments courtesy of our tax $$.

People walked away because they couldn’t afford their mortgage. They couldn’t afford their mortgage because of sub-prime lending.

I haven’t looked into it too much but that just doesn’t seem to be the case now for the majority.

That being said, who knows? The next 12-24 months will be very interesting in all markets. I’ll continue to fund my regular investments but my extra cash is going somewhere more stable and predictable, buying another Hellcat!

 

[1971demon]

People walked away because they couldn’t afford their mortgage. They couldn’t afford their mortgage because of sub-prime lending.

I haven’t looked into it too much but that just doesn’t seem to be the case now for the majority.

That being said, who knows? The next 12-24 months will be very interesting in all markets. I’ll continue to fund my regular investments but my extra cash is going somewhere more stable and predictable, buying another Hellcat!

I can see this run up continuing well past 2022...even with slightly higher than modest interest rates..just my .02

 

[2pac]

People walked away because they couldn’t afford their mortgage. They couldn’t afford their mortgage because of sub-prime lending.

I haven’t looked into it too much but that just doesn’t seem to be the case now for the majority.

That being said, who knows? The next 12-24 months will be very interesting in all markets. I’ll continue to fund my regular investments but my extra cash is going somewhere more stable and predictable, buying another Hellcat!

Correct I was basing it people having arm's.

Also I was getting at negative equity in cars, what happens when John doe wants a new car in 3 years and has $6-8k in negative, what will people do then? What will manufacturers do with an influx of cars but inability to move them due to the expensive cost of dumping negative equity for the customer.

A lot of unknowns, with a lease you can dump whatever negative equity so most of those people will be fine but a vast majority of people finance, what happens to them?

Also how will captive banks handle losing money on tons of inflated residuals?

More questions than answers at this point.

 

[RAMBLE1]

The $30K ADM is a charge added on at the dealership, not Dodge.

Sorry, poor wording on my part. I should have said, "The dealer was not charging a 30k ADM fee for the Jailbreak."