Thank you.
Don’t be stuck on a specific car/trim/color😀
Try to find cars that’s unpopular… IE… Nissan Leaf lol
There are still deals to be had. It depends on what car and model you are interested in.
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Big SUVs are affected more than smaller cars. You can still find some deals in unpopular ones. At least, you could always buy Tesla. Markups? Big NO.
Telsa MSRP is a moving target that is adjusted for market conditions, just like the selling price of everything else.
These are the real winners from the record car prices - CNN Business
But whether it’s a publicly-traded group or a single, locally-owned dealer, these are the very best of times, said Ali Faghri, an analyst at Guggenheim Partners, who follows dealership stocks.
“All will deliver record earnings,” Faghri said. “I think prices have probably peaked. But these market conditions will probably continue until 2023.”
“Demand continues to outpace supply for new vehicles,” said AutoNation CEO Mike Jackson. “We expect this to continue into 2022 due to consumers’ preference for personal transportation coupled with lower interest rates.”
But even with the increased costs to acquire used car inventories, car dealers are making more than ever before on used car sales. Carmax, the largest used-car only dealership, has already reported record profits as AutoNation did on Monday, kicking off a string of record earnings in the sector.
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Sounds like this is gonna be a long term thing!
Sounds like the author reads LH lol
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Subcompact SUV. Mazda CX, Honda HR-V, etc.
I didn’t ignore, I forgot.
I do have life outside of LH, you know?
FWIW, I responded on the car I am looking at.
Subcompact SUV. Mazda CX, Honda HR-V, etc.
EDIT: have to add this “edit” because I can’t post the same thing.
So check this out. Used cars with 6 digits on the odometer are up 31% from last year. Imagine paying 31% more, thousands and thousands of dollars more for a car that has over 100k miles on it. How desperate are consumers at this point in the game where they need a car and are paying this kind of money for a used car.
Jul 19, 2021
Very Used Cars: High-Mileage Models Are Now Selling For Big Bucks
According to the valuation experts at Edmunds.com, the average pre-owned vehicle on a dealer’s lot that’s racked up between 100,000-109,999 miles rose in value by 31 percent over the past year, from $12,626 in June 2020 to $16,489 last month. That’s right, they actually increased in price by nearly a third. It seems everything we thought we knew about used car prices is now wrong. The notions that a vehicle is virtually guaranteed to depreciate over time, losing at least half their original value after five years, and that models with more than 100,000 miles on the odometer are a tough sell to all but the most cash-strapped motorists no longer apply.
So what happens to all the consumers buying new leases today at MSRP. Let’s say they Lease a car with an MSRP of $25,000 and they are paying $475 a month for that lease, what happens when the entire market corrects and the chip shortage that once was is no longer and that same car that was leased at $475 a month is now leasing out at 289 a month with an invoice price of $22500? Who is going to feel the pinch, the leasee or the car company. My guess is no one feels the pinch but maybe the consumer who decided to over pay for a car during a chip shortage crunch, right?
There were a lot of people paying $475/mo for a $25k msrp car before the chip shortage. Most people don’t check leasehackr forums to see what things are leasing for like every single day, so the saying “Ignorance is bliss” would still apply.
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Lease residual is the same whether the buyer pays over retail or a huge discount…their payment is just a lot higher.
I see my clients and friends leases…and they stink. I try to educate them, but they just don’t want to listen…seems like most of them are set on a particular model or trim, which makes negotiating much tougher in most cases.
rather walk then drive a mirage, much less at a 6k markup
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The Mirage is the only rental car I hate as much as the RAV4.
I may have made claims in other posts that I hate the Mirage more, but since then I’ve been stuck with a RAV4 for a second time.
So I’m no longer certain.
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Just you wait until they give you a mistubishi eclipse cross. You’re going to be begging for that Rav4.
Interestingly, Avis gave me an HRV for the trip I’m currently on. It’s not bad at all, other than being woefully underpowered.
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I’d take my chances with the Eclipse.
You’ll only make that mistake once.