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Message
Under current interest rates IDK how car dealers with lots of inventory survive.
Posted on 10/27/23 at 3:03 pm
Posted on 10/27/23 at 3:03 pm
31
Posted on 10/27/23 at 3:04 pm to GumboPot
Posted on 10/27/23 at 3:04 pm to GumboPot
probably "before manufacturer rebates"
This post was edited on 10/27/23 at 3:06 pm
Posted on 10/27/23 at 3:05 pm to GumboPot
There were so many dealerships engaging in such predatory, short-term behavior in 2020-2021, I just don't see anyone caring.
Next up: housing.
Next up: housing.
Posted on 10/27/23 at 3:05 pm to GumboPot
Wildly made up useless fake internet stat
Posted on 10/27/23 at 3:05 pm to GumboPot
Yea, I'm calling BS. Rates have not increased 13x.
Posted on 10/27/23 at 3:06 pm to GumboPot
Who could have imagined that selling over sticker price would come back to frick them??
Posted on 10/27/23 at 3:06 pm to GumboPot
Ain't no way the math checks out on that. Not enough vehicles on the lot for that to be in any way accurate.
This post was edited on 10/27/23 at 3:07 pm
Posted on 10/27/23 at 3:07 pm to SlowFlowPro
quote:
Next up: housing.
You are not wrong.
I've been monitoring real estate through Redfin on the Florida Panhandle. Inventory appears to be rising and prices are falling.
Posted on 10/27/23 at 3:09 pm to GumboPot
My unscientific analysis of the LC Market is that lots of houses are sitting for long periods of time.
If you're selling for over $325k or so, you better have an immaculate home in an immaculate area and perks or you may sit for a long while.
If you're selling for over $325k or so, you better have an immaculate home in an immaculate area and perks or you may sit for a long while.
Posted on 10/27/23 at 3:10 pm to GumboPot
Most lots I have seen for the past few years hardly had any inventory on the lot.
Posted on 10/27/23 at 3:11 pm to kywildcatfanone
I don’t know. Who sets the interest rates for this and are there regulations?
If it’s set by the manufacturers, they could be turning the screws on dealerships to make them stop being chodes and start moving product
If it’s set by the manufacturers, they could be turning the screws on dealerships to make them stop being chodes and start moving product
This post was edited on 10/27/23 at 3:11 pm
Posted on 10/27/23 at 3:11 pm to GumboPot
People are always going to want specific things when they buy but the days of having tons of offers within 12 hours of hitting the market appear dead.
Posted on 10/27/23 at 3:15 pm to teke184
quote:
Most lots I have seen for the past few years hardly had any inventory on the lot.
I just bought my youngest a Toyota Tacoma 3 months ago and the Toyota lot (Northshore Toyota) was thin.
This post was edited on 10/27/23 at 3:23 pm
Posted on 10/27/23 at 3:17 pm to GumboPot
Used lots are the ones who are going to hurt the most. I follow a lot of used car dealers on Youtube and it's getting bad. Holding/Carrying costs are going to eat them alive, b/c they can't even sell cars they bought at the peak wholesale.
It's a bad time to be a used car dealer if you over-extended in 21-22.
It's a bad time to be a used car dealer if you over-extended in 21-22.
Posted on 10/27/23 at 3:18 pm to GumboPot
quote:
Toyoda
Did you order it off Temu?
Posted on 10/27/23 at 3:19 pm to wmtiger69
quote:No, but rates have gone up a lot. And higher rates plus economic worries means fewer buyers. So if you combine the higher interest rates with vehicles sitting in the dealership's inventory a lot longer, then I could see how the numbers would make sense. If rates are 3-4x what they used to be on top of vehicles taking 3-4x as long to sell
Yea, I'm calling BS. Rates have not increased 13x.
Posted on 10/27/23 at 3:19 pm to GumboPot
I use an informal measure I call the Dodge Challenger Index.
Every one I see says on the market for >40 days
Every one I see says on the market for >40 days
Posted on 10/27/23 at 3:22 pm to GumboPot
I bought a new car in the summer and got a hell of a cheap rate.
Car dealers have their own credit companies and will continue to give low rates to sell cars.
Car dealers have their own credit companies and will continue to give low rates to sell cars.
Posted on 10/27/23 at 3:22 pm to GumboPot
Stealerships getting humbled into a haircut is a good thing
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