Low ball? Not if they really want to sell it. I don’t see that getting higher than MSRP although it’ll hold value well.
-J
-J
Current New Vehicle Market
- Thread starter 13COBRA
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Going to need $10,000 off during TRUCK MONTH to sell it
When I was young and dumb I bought a 4.3 Silverado WT (had to get out of a loan I was upside-down on) and I think it was like 22k
Since u asked NICELY........... ok. Refreshing... that nonbelligerent request. Im gonna go watch BAR RESCUE.
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It's a quadruple gut punch.
MSRP has skyrocketed
Rebates and Incentives are gone
Dealers want mark ups
Everything else in the world is up 30-300%
I make a lot more money than I did 5 years ago, but I've also progressed my career significantly. I have no idea how people are managing.
You forgot interest rates, which are ~7% for good credit and 11% for bad.
11% for bad? Try 20-26%.
This is SVTP. I’m pretty sure a 850+ score is required just to log in.
I'm still waiting for a no money down zero percent financing deal. Me thinks I'll be waiting a loooooong time.
Yea… I’m no finical wiz… but I think we’re on the other end of that debt cycle
Yeah and from what I've witnessed dealers are selling cars pretty successfully so there's no reason for them to give any kind of incentive to buy.
All the quarterly OEM sales numbers have been very good I have seen this last week are very strong. The only OEM around here selling strong and keeping the lot full is Subaru. Kia and Hyundai sales are stellar and their lots are really thinned out.
That's Scatpack Rates.
I still can't believe I paid $43k OTD for my 1320 Scat @ like 1.6%.
Same car is like $65k MSRP now.
I'm curious how things have changed internally. In the 90's and Pre-'08, GM was all about units sold as a key metric. Didn't matter if they lost money on every $9k Cavalier sold.
I bet even if unit sales are flat, revenue and profit are up big time.
My company, non-automotive but SP500, is running 12.5% growth and record breaking margins despite the fact our actual volume has been flat. We never lifted the cost controls from Covid and have been leveraging the economy hard. I bet all the big players are doing that and zero incentive to roll back to better days.
I recently saw a comment that Inflation is basically a tax. It helps those with huge debt (the .Gov), assets and liabilities but crushes those who earn paychecks.
I think 10-15% was the "avg" credit rate. Its insane how people are actually buying cars in the double digit interest rates. Wonder how many are going to drop them when avg interest rates drop back in the single digits
ICE is paying for EV conversion, it is one reason prices have jumped so much, especially pickups.
They'll refinance them.
Exactly. I sat down with a 842 and about fell over when she said 7%.
But I get to pay it off this month.
If what I’m seeing is the inventory on models people want just aren’t there.
Is that what you see Nick?
I’d rather order and wait.
-J
Banks are trying to get rich off the interest rates and blame it on the Ecomony/Fed.
7% is absolutely absurd.
This is all cyclical and it'll be interesting to see how this cycle washes out.
FWIW, you can still get a 0% rate for 18 months on xyz credit card on a balance transfer. How does that make any sense?
7% is absolutely absurd.
This is all cyclical and it'll be interesting to see how this cycle washes out.
FWIW, you can still get a 0% rate for 18 months on xyz credit card on a balance transfer. How does that make any sense?
Eh but not really. They'll charge a transfer fee of 3-4%.
It's just prepaid interest.
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