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Started By
Message
re: Car prices aren’t coming down anytime soon.
Posted on 7/25/23 at 10:18 am to CollegeFBRules
Posted on 7/25/23 at 10:18 am to CollegeFBRules
I have a number of friends and family that own car dealerships. The best thing that ever came out was a lease program. They lease it, get it back in great condition, low mileage. They certified it, then sell.
I bought a new truck two years ago, used my credit card, was out the door in no time.
As for car prices. People are keeping cars longer, better have a good mechanic. Buy dependable cars.
The folks crossing the border illegally, what are they driving on this side? Then you see them driving across the border with two in tow, back into Mexico.
I bought a new truck two years ago, used my credit card, was out the door in no time.
As for car prices. People are keeping cars longer, better have a good mechanic. Buy dependable cars.
The folks crossing the border illegally, what are they driving on this side? Then you see them driving across the border with two in tow, back into Mexico.
This post was edited on 7/25/23 at 11:37 am
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Posted on 7/25/23 at 10:23 am to SlimTigerSlap
quote:
You've just discovered someone who hasn't had an auto loan under 60 months.
Maybe in whatever state you live in, but it is illegal AF in LA to do that, except for a $25 charge
Posted on 7/25/23 at 10:28 am to Beauregard96
quote:
I get that people need cars but $52k with a 9% interest rate can't be sustainable for most households
I bought 2 Tundras last week. Cash. frick $50K trucks with 84 month notes.
Posted on 7/25/23 at 10:33 am to CollegeFBRules
My parents are looking for a Kia Carnival. I found him a few in Texas and there’s a $8,995 dealer markup. On a fuggin’ Kia.
Posted on 7/25/23 at 10:51 am to Thib-a-doe Tiger
Unfortunately I had to get a new vehicle last month after my previous paid off truck’s engine went to shite 7 years into owning it and it was prohibitively expensive to fix so I traded it in.
Bad news is new trucks have nearly doubled in 7 years.
Good news is my trade in was only about 6k less than I paid for it new. Also I was able to get 10k off MSRP and a 0.9 % interest rate. I don’t think I would have gotten either of those 6-9 months ago.
Bad news is new trucks have nearly doubled in 7 years.
Good news is my trade in was only about 6k less than I paid for it new. Also I was able to get 10k off MSRP and a 0.9 % interest rate. I don’t think I would have gotten either of those 6-9 months ago.
Posted on 7/25/23 at 11:20 am to Tantal
quote:
I bought 2 Tundras last week. Cash. frick $50K trucks with 84 month notes.
Tundras start at under 40k. There are a few new ones out there online for this.
But if you drive by most lots you won’t see any of the base model ones. Idk if it is
1) people won’t buy the base models and want stuff
Or
2) toyota is forcing more options on consumers to make more selling more expensive cars.
Posted on 7/25/23 at 12:09 pm to 50_Tiger
quote:
Car Manufacturers had a real time trial on what if we reduce the availability of cars and just be sticker sellers.
Volume selling is never coming back.
I'm no expert, but I disagree a little. Every auto lot near me is filling back up with inventory. The Toyota dealership at one point had maybe 10 cars on the whole empty lot. I drove by yesterday and there's at least 30 new Tundras and 60 or so other models. The GMC place next door was full of vehicles. The Ford place had every parking spot filled on the new and used lot. The local Ram truck place is advertising below Msrp deals.
My point is inventory is increasing and when it does they will start making deals again. Additionally with interest rates high most households can't afford a new vehicle. I dont think prices will fall to pre pandemic levels but they should come down from the historic highs they have been at.
I may be completely wrong, but in my opinion the days of the dealers asking absurd market condition upcharges are coming to an end. If they want to sell vehicles when inventory has fully rebounded, they are going to have to start making deals. It may be a few years but the market should correct some.
Next time your out drive by and see how much inventory your places have. That will tell you how the market is doing.
Lastly, we talk about 8 to 10 year notes on here, but is that really a thing? Can somebody really get a notes that long? The longest I ever see advertised is 72 months.
This post was edited on 7/25/23 at 12:23 pm
Posted on 7/25/23 at 12:31 pm to CollegeFBRules
Imagine paying 50k + for a truck. Lulz
Posted on 7/25/23 at 12:38 pm to CollegeFBRules
quote:
I have no idea how the majority of households can afford this. Going to start having those 20 year boat notes on cars before long.
They can’t. We are not too far from all of them realizing that they’re going to be fricked in the arse at retirement. They’ll all become democrats, wanting to tax YOUR 401k/IRA to make up for their dumbassery.
Posted on 7/25/23 at 12:49 pm to CollegeFBRules
Used car manager and new car manager on the phone after you drive off
Posted on 7/25/23 at 12:59 pm to SlimTigerSlap
quote:
Yet he has two new truck notes.
That’s my point.
His house looks like shite. IPL (city code enforcement) has been out at least twice that we know of because of violations. They’re currently parking in the yard because the oak that is over their driveway is dead and they’re trying to avoid branches falling on the trucks. He’s openly told us he can’t afford to have it taken down (he asked if we knew any “side folks”). Also asked if we knew someone on the side that installs HVAC systems because theirs is going out and he can’t finance at this point.
But still has two brand new trucks sitting in his driveway.
Posted on 7/25/23 at 1:12 pm to CollegeFBRules
quote:
Strong demand for some of GM’s biggest moneymakers—including newer versions of its largest pickup trucks—led to a 39% surge in pretax profit from North America, to $3.2 billion
Man the economy must suck arse.
Posted on 7/25/23 at 2:13 pm to BluegrassBelle
quote:
trying to avoid branches falling on the trucks. He’s openly told us he can’t afford to have it taken down (he asked if we knew any “side folks”). Also asked if we knew someone on the side that installs HVAC systems because theirs is going out and he can’t finance at this point.
HE CAN'T AFFORD THE ABOVE BECAUSE OF THE BELOW...
But still has two brand new trucks sitting in his driveway.
Posted on 7/25/23 at 2:16 pm to CollegeFBRules
All they do is bump up the price to absorb your down payment or trade
For ex
Truck cost 27k
List for 56k
Trade 19.5k
U think your financing a great deal when in actuality, the actual price is somewhere around 25 to 30k....
They get your trade for free and they send to auction or sell it and make a profit.
For ex
Truck cost 27k
List for 56k
Trade 19.5k
U think your financing a great deal when in actuality, the actual price is somewhere around 25 to 30k....
They get your trade for free and they send to auction or sell it and make a profit.
This post was edited on 7/25/23 at 2:18 pm
Posted on 7/25/23 at 2:28 pm to BluegrassBelle
quote:
But still has two brand new trucks sitting in his driveway.
When I worked offshore I swear the dudes out there treated their trucks on the same level as their children. Their life in their off time revolved around a hunting camp and a truck.
The parking lot at the heliport was 95% pickup trucks, and newish at that. I had like the only SUV on the lot, and the rest were old beat up passenger cars which obviously was driven by the poors who had horrible credit.
Before I got an SUV I had a twelve year old Honda accord (2 door). It was my wife's car which I took over when we upgraded to an SUV. It was an emasculating moment at every crew change. When we would get off the helicopter and people are firing up their Flowmasters while I am getting in my pink pussyhat box cart.
Funny thing is, I made the highest income of anyone on the crew change.
My point is that that market of baws will always drive trucks no matter how expensive they become.
This post was edited on 7/25/23 at 2:38 pm
Posted on 7/25/23 at 2:32 pm to CollegeFBRules
Luckily I accidentally timed the market perfectly.
Needed a new car in April of 2020. My old vehicle was 10+ yrs old. Covid had hit the month prior and everyone was still freaking out. Got a $35k sedan for $27k($23k after trading in my 10 yr old vehicle). 0% interest too, so I financed.
Early this year, I decided I wanted a bigger vehicle. Emailed my previous sales guy and he offered me $30k for my car. I also paid a little under MSRP for my new SUV
Needed a new car in April of 2020. My old vehicle was 10+ yrs old. Covid had hit the month prior and everyone was still freaking out. Got a $35k sedan for $27k($23k after trading in my 10 yr old vehicle). 0% interest too, so I financed.
Early this year, I decided I wanted a bigger vehicle. Emailed my previous sales guy and he offered me $30k for my car. I also paid a little under MSRP for my new SUV
Posted on 7/25/23 at 2:59 pm to Beauregard96
quote:
I get that people need cars but $52k with a 9% interest rate can't be sustainable for most households
Well isn’t the loan actually for $52k minus your trade in value for most people?
Posted on 7/25/23 at 4:38 pm to GeauxTigers123
quote:
Tundras start at under 40k.
They start even lower than that if you buy 2006 models. Driving a 20 year old cash car doesn't bother me. I'm not trying to impress anyone.
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