Printable View
I'm hearing horror stories about prices 3 to 5K OVER MSRP for new vehicles. I've never paid MSRP for a vehicle in my life. I'm aware there's a shortage and dealerships can charge whatever they want or what the market will bear. Too bad we can't keep track of which dealers are ripping people off and never patronize them once the supply line gets back to normal.
^ It's out of control! Used cars [good ones] are very scarce and sky high too. For the more reliable models with reputation of going over 150K you can find yourself paying 3-5K for 2003-06 small sedan.
I just purchased 2 brand new vehicles and came out $80/mo less than in 2017--same make and models as before. People need to be patient while shopping. Deals are there to be had for new cars but not so much for the used market.
It’s called supply and demand,there is a long list of places to remember when things get back to normal,whatever that is,grocery stores,clothing stores,utility companies,gas station,housing etc.
We always have the option not to buy, but there appears to be many who are still buying,which is allowing the premium dealers are charging.
Used boats are being more then what they sold for new 3 years ago as are many used automobiles.
It’s like any other cycle in history,now is a sellers market.
The only ones that are getting penalized in their mind are the ones that have to have it now while knowing full well the state of the economy.
There are people paying over $10,000 over MSRP,but it is just a suggested price and if it is based on supply and demand of 3 years ago,it would not be in line with the current situation.
The government could always produce a state built automobile and regulate the price.Kinda like the Russians do,of course you can not expect any changes for at least 30 years and it would be bare bones,but it would be cheap and a set price.
I took in on partial trade a 2011 Camaro for my vintage truck,I listed it locally for $9500 and everybody blasted me saying it was overpriced,so I sold it to Carvana for $13,000 in less then 30 minutes.
People make purchase decisions based on what they think the price should be,then get mad because it is not that price,the market is determining the price,not individual businesses.
By me the real estate market is just as insane,a house that was $150k a year ago is now $350 - $400k and people are up in arms saying it is a rip off,but yet they are selling within a matter of hours.
I put $6000 down on a property in earnest money with a 5 day closing,2 days later the seller offered me $100k to walk away,I ran with it,she had an offer of $200k cash over my offer,the same thing is happening at the dealerships,people playing hardball end up walking because 10 more are standing there willing to pay full boat plus whatever else it takes.
Dumping trillions into the economy is designed to pump up the economy based on people will spend it just as fast as they get it,that is what is happening and the results are what we get and see.
They say 53% of Americans cannot get their hands in $1000 cash in a emergency but yet the majority of corporations are having banner returns the last few years,people spending like a drunk sailor on leave.
It not a good time to be a buyer,save your cash and make your deals when it crashes.
Think about it though,we know everybody switched to Just in time inventory and nobody stocked anything,we went through the pandemic with companies selling and seeing the highest revenue boost in a decade,within a matter of months,for over 2 years.
Where did they get all of that inventory if all the factories were shut down because of Covid,with just in time they would have never had enough inventory to make it 60 days into 2020.
People are mad at the dealerships because that is the only time they see the end result of the circumstances.
Late 70s early 80s = recession
Mid 90s recession
We are just coming to the end of a 8 year banner boom with history and current circumstances,everybody knows it is not sustainable,wait a few months,you will be able to negotiate terms on your grounds,if you need it now,you have to expect to pay premium.
American dealers are buying lots of Canadian cars and bringing them over the border. They can pay full retail and just flip them based on the difference in the dollar.
Used pickup truck prices are insane as well. Some are almost as high as a new one. Saw a 2012 Avalanche with 190,000 miles for $24,000. It was in decent shape, not perfect by any stretch. 10 years old, 190k miles for 24, no thanks. Something has to give. A few economists are predicting a crash by the end of the year.Quote:
Originally Posted by Zacha341