Huge bankruptcies for used car firms have exposed Wall Street’s entanglement with the sector. Far from derisking after the Great Recession, banks rebuilt the economy on obscure financial intermediaries that are now sinking.
It tended to hit a lot of perfectly functional cars that were only a few years old. The collectors market from around 2003 to 2008 has been pinched ever since.
Also, Cash for Clunkers eliminated a ton of the “so cheap it’s dangerous” cars that existed before.
I think that was 15-20 years ago though?
I remember seeing the posts on jalopnik and elsewhere of the great cars that were being crushed. RIP.
It tended to hit a lot of perfectly functional cars that were only a few years old. The collectors market from around 2003 to 2008 has been pinched ever since.
Good. Hoarders should be under treatment, not encouraged.