Vehicle prices

[Dave588]

Has anyone actually seen any vehicle prices drop back to pre covid levels? I am looking at small cars online and whats available for pricing still seems very high.

[RL Bucktails]

Not that I can see

[Slacker]

MSRP plus dealer adjustment.  And they are gonna stay that way until people stop paying at that pricing.

[nightfighter]

We were negotiating through my BIL in Virginia for a 2022 Tahoe LT and the dealer wouldn't budge from his $67490 price. So not yet... My 2011 is in very good shape with only the hood and tailgate showing rust from the inside.

[giggyfish]

I need a new truck but refuse to pay what they are asking for a new pickup. I called the dealer about a raptor that was arriving and the sales girl said good news it’s still available and it’s only 111k. Gtfo 

[slicedcornbread]

I've seen and read about dealers dropping the extra "market adjustment" add on, but MSRP is here to stay. As Slacker mentioned, as long as people keep paying this high prices, there is absolutely no reason for dealers to lower their prices. Only when the lots are completely full with new cars and they're practically begging you to buy from them will they lower prices. They love having low inventory and have you order your new car. 

[slicedcornbread]

1 min ago, giggyfish said:

I need a new truck but refuse to pay what they are asking for a new pickup. I called the dealer about a raptor that was arriving and the sales girl said good news it’s still available and it’s only 111k. Gtfo 

Only. 

[Slacker]

I'm interested to see what happens with pricing on the 2022s, when the 2023s hit the lot.  I suspect not much... maybe knock something off the "dealer adjustment" and still be demanding more than the MSRP.

[Gotcow?]

14 mins ago, Dave588 said:

Has anyone actually seen any vehicle prices drop back to pre covid levels? I am looking at small cars online and whats available for pricing still seems very high.

Not until cars start to pile up on dealers lots will prices start to be discounted.

[giggyfish]

I laughed at her when she said it. These people are nuts. 7 year car loans. Are people really this stupid 

[Gotcow?]

Just now, giggyfish said:

I laughed at her when she said it. These people are nuts. 7 year car loans. Are people really this stupid 

Yes, they are.

[slicedcornbread]

Just now, giggyfish said:

I laughed at her when she said it. These people are nuts. 7 year car loans. Are people really this stupid 

My son-in-law just bought a new F150 late last year with a 7 year note. F me dead. I never heard of such a thing. So on top of the mortgage that they got into in 2013, he also has a 10 year note on his bass boat. 

[giggyfish]

I was at the bank and overheard that the bank is running 3 months behind for home equity line of credit loans. So it finally came to me that this is how these idiots are spending like they are. Riding their equity boom and mortgaging themselves to the teeth to buy **** they can’t afford. How long till the bubble pops?

[Slacker]

2 mins ago, slicedcornbread said:

My son-in-law just bought a new F150 late last year with a 7 year note. F me dead. I never heard of such a thing. So on top of the mortgage that they got into in 2013, he also has a 10 year note on his bass boat. 

My history with Ford trucks - and it is long - indicates that he will be making truck payments and paying repair costs at the same time, with some regularity, with a 7 year payment schedule.

[crazybellringer]

28 mins ago, giggyfish said:

I laughed at her when she said it. These people are nuts. 7 year car loans. Are people really this stupid 

A 7-year car loan with low interest is not a bad idea at 3% the difference in interest is 1200 bucks over the length of the loan. pretty much every other investment would be a good idea because the 5-year term is an extra two hundred a month if you had that in an index fund you crushed it. 

 

 

Edited August 15, 2022 by crazybellringer