Not including state taxes, could easily be over $900. Still not horrible for being 24 months
Current New Vehicle Market
- Thread starter 13COBRA
- Start date
Reading a legal definition of bait and switch below, your example in bold face fits the definition of bait and switch exactly. Key being the dealer doesn't have the advertised model nor can they get it. My head is clear on that now.
The second one (in red) is called a "loss-leader" sale. Different from a bait and switch.
Bait and Switch
A “bait and switch” takes place when a seller creates an appealing but ingenuine offer to sell a product or service, which the seller does not actually intend to sell. This initial advertised offer is “the bait.” Then the seller switches customers from buying the advertised product or service that the seller initially offered into buying a different product or service that is usually at a higher price or has some other advantageous effect to the advertiser. This is the “switch.” Normally, the switched product that the consumer buys is usually at a higher purchase price, an increased profit for the seller, or may have a less marketable characteristic than the product advertised.
"The good news in this CPI report - really - is that new vehicle prices were unchanged, after eight straight monthly increases of more than 1% per month," Shepherdson added. "This is a significant development. Rising inventory, on the back of increasing chip supply, is both boosting sales and capping prices. We expect new vehicle prices to fall outright over the next few months."
"Used vehicle prices will fall too. They rose 1.5% in January, consistent with rising auction prices a couple months ago, but auction prices appear now to be falling and the CPI measure will follow. Used vehicle inflation is 40.5% y/y, compared to the zero pre-Covid trend, so they have a long way to fall."
"Used vehicle prices will fall too. They rose 1.5% in January, consistent with rising auction prices a couple months ago, but auction prices appear now to be falling and the CPI measure will follow. Used vehicle inflation is 40.5% y/y, compared to the zero pre-Covid trend, so they have a long way to fall."
**** it. I stroked a check for my GR86 at sticker. Many idiot dealers are charging $3K markup on a $30K car. First foreign car in at least a decade, and a less than practical replacement for my Fiesta ST, but it is a daily canyon carver that is amazingly capable for the price.
The best part of the car market right now is the idiots that don’t understand why used car prices have increased and think that waiting a few months will suddenly show them the prices falling off a cliff.
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I predict the used car market will collapse nearly identical to the sub prime housing market.
People will just turn in the keys and walk away when they realize how upside down they are on their loans.
It's multiples easier to walk away from a car than a house(10 million defaults)
Probably double that easily... 20 million defaults/repos flooding auctions.
It will be nearly identical. Poverty trap.
People will just turn in the keys and walk away when they realize how upside down they are on their loans.
It's multiples easier to walk away from a car than a house(10 million defaults)
Probably double that easily... 20 million defaults/repos flooding auctions.
It will be nearly identical. Poverty trap.
Unlikely, new car market has been under supplied by millions of cars over the last 2 years.
Started looking for a new car for my wife. Not only are 4 door sports sedan models rare, but no one has anything in stock.
Can't find an Acura TLX Type S within a 5 hour drive. I need to have the wife drive it, have to order one and won't be available until June.
Can't find an Acura TLX Type S within a 5 hour drive. I need to have the wife drive it, have to order one and won't be available until June.
And dealerships will gobble them up like Mrs Pac-Man gobbling up balls. Dealerships will use them to add inventory and prices will not retreat.
Mavericks and Ridgelines are for guys that have joint FB accounts and tailgate before Curling matches.
The Dealership I work at normally has over 450 new vehicles in inventory. I would be surprised if we have 40 vehicles total. The parking area for new vehicles is a huge empty lot now. Has been for quite a while. Nearly every new P.U truck that comes in is sold or will be sold within 2 days. There are only 5 P.U trucks on the lot right now. The only vehicles that do not move immediately are the HD trucks with a dump bed or the chassis/cab versions. Those take a few extra days to move.
What a crappy time to buy a vehicle, or anything for that matter. I really wanted to buy a new truck. But just can’t do the $60k right now. Been looking at used trucks too. From what I can see $35-40k is what it’s gonna cost for a decent low miles 1/2 ton 4wd truck. Only thing is the pending markets collapse. I don’t think it’s a matter of if it will happen, but only of when it will happen.
Agreed.
I was thinking of a new daily driver, but nope. Gonna hold out. Plus, with these chip shortages and now there's going to be all types of shortages,....that's gonna be a no from me unfortunately.
I really wouldn't mind ordering a '22 GT500 either, but not with crazy ADM's. No thank you.
I can bet lots of businesses are thinking the same way, so that way the economy growth is stagnant at best. Terrible.
Awesome man me too! How do you like it?
I picked mine up 12/31 and it’s my DD.
Just turned 1500mi and it’s a blast.
Like most things I drive I still think it needs 100hp more at least
-J
Actually if you can get a good/fair deal
on a new vehicle you like it’s actually the best time to buy with the interest rates. You can likely drive a new vehicle and have little to possibly no depreciation. The question is how long will this last.
In my personal experience my local high volume dealer will deal on orders for those willing to wait. To buy off the lot it’s MSRP+
-J
Same people said in 2006. 2 years later used and new cars were cheaper again. Just saying.
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