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re: Under current interest rates IDK how car dealers with lots of inventory survive.
Posted on 10/27/23 at 5:31 pm to White Bear
Posted on 10/27/23 at 5:31 pm to White Bear
quote:
Found the car salesman baw.
Exactly.
0
Posted on 10/27/23 at 5:36 pm to White Bear
quote:
“Price gouging is capitalism, supply and demand.”
Got news for you; Nobody forces you to buy a car you feel is overpriced.
If no one buys the car at the price the dealer sets he lowers it.
I know this is difficult for some here...
Posted on 10/27/23 at 5:44 pm to BuckyCheese
quote:
Got news for you; Nobody forces you to buy a car you feel is overpriced.
Louisiana law does.
They force the dealership model.
You can preorder, agree to a price, get on a list. Then have the dealership hold you over a barrel because you have no other choice but to go through them with an agreement between two independent parties.
This post was edited on 10/27/23 at 5:46 pm
Posted on 10/27/23 at 5:45 pm to GumboPot
Boohoo, maybe they shouldn't frick people at every step of the way.
Posted on 10/27/23 at 5:47 pm to fightin tigers
quote:
Louisiana law does.
They force the dealership model.
You can preorder, agree to a price, get on a list. Then have the dealership hold you over a barrel because you have no other choice but to go through them with an agreement between two independent parties.
There are thousands of dealerships in Louisiana. Go to a different one if you don't like the price.
Or just don't buy.
You clowns that think a factory direct model would save you money are sorely mistaken.
This post was edited on 10/27/23 at 5:48 pm
Posted on 10/27/23 at 5:49 pm to BuckyCheese
quote:
You clowns that think a factory direct model would save you money are sorely mistaken.
I don't.
The dealership is allowed to upcharge and force add-ons or else. Only reason is because by law you are forced to use them versus going directly to the factory.
Government influence is de facto not free market.
Posted on 10/27/23 at 5:51 pm to fightin tigers
And you are allowed to walk away.
Nut up buttercup.
Nut up buttercup.
Posted on 10/27/23 at 5:55 pm to BuckyCheese
quote:
And you are allowed to walk away.
Nut up buttercup.
Just pointing out it isn't free market. Sorry you can't see that.
Dealerships buy politicians, politicians force you to give your money to dealerships. People like you think it is capitalism.
This post was edited on 10/27/23 at 5:58 pm
Posted on 10/27/23 at 6:09 pm to GumboPot
After the way they treated customers during Covid by jacking up prices, I think a good purging of dealerships is warranted. They are dinosaurs. Online and factory direct will be the future in the next 20 years.
Posted on 10/27/23 at 6:32 pm to GumboPot
Dealers of larger consumer goods usually has a finance company chosen by the mfg to finance the inventory.
Example, I was an outdoor power dealer and did Pre Season orders.
Fill out a credit app and your floor plan credit line depends on your credit.
I had up to 5 locations at one time and had $1 million in inventory per location.
I would get parts and wheeled goods on 1 yr free floor plan.
If you sell a wheeled good you would have to register it.
When you did that, the finance company gives you 30 days to pay the floor plan off or you pay interest on the unit.
To avoid interest you pay it off.
Toward end of the season if you have anything left, sometimes you sell things at cost or below cost just to not pay the interest due to it.
It is a way the mfg can get inventory on the ground to sell more product vs having to hold inventory in warehouses delivering the items when it is ordered.
Example, I was an outdoor power dealer and did Pre Season orders.
Fill out a credit app and your floor plan credit line depends on your credit.
I had up to 5 locations at one time and had $1 million in inventory per location.
I would get parts and wheeled goods on 1 yr free floor plan.
If you sell a wheeled good you would have to register it.
When you did that, the finance company gives you 30 days to pay the floor plan off or you pay interest on the unit.
To avoid interest you pay it off.
Toward end of the season if you have anything left, sometimes you sell things at cost or below cost just to not pay the interest due to it.
It is a way the mfg can get inventory on the ground to sell more product vs having to hold inventory in warehouses delivering the items when it is ordered.
Posted on 10/27/23 at 8:06 pm to LNCHBOX
Idk. One Hyundai/genesis lot has like a shitload of cars in Lafayette. Like a lot a lot.
Posted on 10/27/23 at 8:20 pm to wmtiger69
quote:
Yea, I'm calling BS. Rates have not increased 13x.
The kicker here is that during the pandemic, dealerships didn’t carry a lot of inventory. So of course, their floor plan expense was low. Now, it’s a double whammy… more inventory and higher interest rates.
Posted on 10/27/23 at 8:29 pm to GumboPot
Don’t underestimate the fraudulent insurance claims soon to be made on all these underwater vehicles. They will be re-buying in no time.
81 million. Duhhhhh
81 million. Duhhhhh
This post was edited on 10/28/23 at 6:47 am
Posted on 10/27/23 at 8:41 pm to Koach K
So when is the time to buy a used truck?
Posted on 10/27/23 at 8:55 pm to WestBay
I fricking hate car salesmen. Like really legitimately hate them. They frick you over and tell you to smile and take it or don’t buy. And for a lot of people not buying is not an option. So when you’re in a bind and need something they take the opportunity to rip you off so you can give to their $1,000 (or whatever it is) commission. Go work a real job you slimeball. There are a few in this thread. And they think they’re so slick and have an immediate answer of how they’re gonna screw you (as if we’re stupid). Meanwhile most car salespeople really are stupid and uneducated. That’s why they’re working a job like that.
/rant
/rant
Posted on 10/27/23 at 9:05 pm to GumboPot
quote:
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.
Same in the Triangle.
I've never seen so much greed in my life.
People wanting over $300 per sqft in fricking Durham, NC
As with the car market, the main issue is the people buying at illusory prices. Should've had a buyers strike a year and a half ago.
This post was edited on 10/27/23 at 9:09 pm
Posted on 10/27/23 at 9:17 pm to SuperSaint
quote:Yep, after seeing them bend people over and giving it to them with no lube for the last couple of years, I have no sympathy.
Stealerships getting humbled into a haircut is a good thing
Posted on 10/27/23 at 11:04 pm to GumboPot
Ram jeep dealers will be gone by Memorial Day
Posted on 10/27/23 at 11:38 pm to SlowFlowPro
quote:
I follow a lot of used car dealers on Youtube
Wtf
Posted on 10/28/23 at 2:23 am to bhtigerfan
I don’t understand the hate for car salesman on here.
Go in educated and you will be fine. Just takes a little research driving around to other lots or looking online.
Go in educated and you will be fine. Just takes a little research driving around to other lots or looking online.
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