My local Ford dealer is $7.500 off with a trade in.
Current New Vehicle Market
- Thread starter 13COBRA
- Start date
Looks like $5,000 off is the best you can do on 24's around me. The deeper discount on the 23's make sense.
Local Ford dealer now has enough F-150 inventory to go back to his normal lot scheme with F-150's on the front line with the SUV's and Bronco's stacked behind. Very full lot.
Took the wife's Nautilus into the local Ford quick lube which triggered a call from my salesman the next day asking if I wanted to trade it in. Advertising by all the local dealers is really aggressive right now.
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@13COBRA
- What’s the percentage of new cars/trucks that get leased vs purchased?
- For those that purchase new, what’s the average number of months the loan is written for?
- How many months are most leases written for?
- Is there much of a difference between the average leased times of cars vs trucks?
- What’s the percentage of new cars/trucks that get leased vs purchased?
- For those that purchase new, what’s the average number of months the loan is written for?
- How many months are most leases written for?
- Is there much of a difference between the average leased times of cars vs trucks?
Do dealers use outside firms to come up with these shenanigans? That's pretty creative.
Great questions. I'll do my best.
- Depends on a few variables: the state in which one lives, the manufacturer that built the vehicle you're leasing/purchasing, and the current market. In Missouri with Ford's, it's about 2% lease and 98% purchase. We have high local fees, property tax and sales tax. In a lease you pay that all in the payment, in a purchase you pay the sales tax at the DMV and then the property tax once a year, after the first year; so effectively the payments are often less on a purchase.
- Right now the average number of months in a new vehicle loan is about 68-69. Leaning towards a 72 month note, but a lot of people still do 60 month notes.
- Depends on the residual and money factor. Some leases are designed to have a sweet spot for a 2yr/24k lease, others you can do a 3yr/39k lease and it's a better value. We look at each situation indepedently and try to help the consumer make the best financial decision for themselves. The hardest part about 'playing it smart' with a lease...when your lease is up and you have to buy/lease another car, there is 0 knowledge at the time of the original lease at what programs will look like in 2 or 3 years, yet one things for sure...you're going to need something.
- Yes and no. Doesn't vary based on vehicle type, but on the offered programs with the vehicles at the time of lease inception.
How was that?
No. They go to Dealer 20 Group meetings and speak to other dealers about what they can do to improve their business model; the answer for years is:
Advertise the lowest possible price you can come up with online, then when the consumer comes in the store tack on a bunch of extra shit that's "mandatory" in order to get the online price.
This practice will be going away soon, thank God.
I'd buy another one for what I paid for mine. I'd actually like to find one that has been mechanically salvaged because of the drivetrain.
Been some flooding down South, you might get your wish.
Flood car is a different story, but for the right price I can make it work.
Fine, thanks.
I'm very surprised at such a high new car/truck purchase rate. Has that changed in the past couple years?
Thought leasing was 60%-70%, instead of 2% - lol. I know variables like that can be relative to certain areas.
It's probably 60-70% when you only look at Toyota, Land Rover, Jaguar, Lexus, Hyundai, etc. Look at the domestics and it will drop substantially. Then look at non-lease friendly states and it basically goes to 0.
Last year, we leased 0.0245% of the new vehicles we sold haha
Im sure leasing lately is even worse than previous years. The MF is too damn high for most auto makers and not enough rebates/incentives. Might as well pay the extra $100 to buy the vehicle.
Eh, kinda.
Residuals are higher than they've ever been, so that helps kinda level it out.
What's the % on paying cash?
YTD I've seen about 30%. Last year industry wise it was just under 40%.
SVTP Members 95%+.
Not my experience. haha
@13COBRA
Could you give me an idea on what I could expect for trade in on my 2012 QX56?
VIN JN8AZ2ND9C9716014
Also, is it worth fixing minor issues(shocks) before trading in or does it really matter for something that is going straight to auction?
Could you give me an idea on what I could expect for trade in on my 2012 QX56?
VIN JN8AZ2ND9C9716014
Also, is it worth fixing minor issues(shocks) before trading in or does it really matter for something that is going straight to auction?
About 123k. They are air shocks and they sprung a leak. One of the reasons I feel like moving on from it.
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