Welp, I purchased a Chevy Trailblazer for the wifey on Sunday. So I guess that would be the car if needed today. It wasn’t my first choice. In fact I would not have bought a car like this at all, if not for the shortage. Based on getting it at MSRP, and a 0/48 loan it was a no brainer. Everyone’s situation is different, but for me, this works. We will own it and 4 years, and then hand it off to one of the kids to destroy. Maximum utility.
I am thinking similarly. I have a '16 MDX and a '21 Volvo S60 recharge. If I had to replace the S60 today (or in the next few months), the EV6 at sticker is the clear choice (even over a 22 S60 recharge with upgraded power and range). If I had to replace the MDX, there would be two choices: MDX Type S Advance and GV80 though unlike me, my wife is irrationally biased against hyundai products so really one choice.
I have 5 Colorado dealers all offering it at MSRP with inbound units arriving in about a month and 3-6 month delivery for custom orders. Ioniq 5s are also available at MSRP at 3 dealers so far, if you are ok with waiting for incoming stock or custom order. I am sure once in-stock most, if not all, dealers will mark them up but that seems to be the case for most new cars…
I’ve been lucky/skillful with most of my recent car purchases and leases, but have no idea what to do now.
Previous ‘deals’ include:
Getting paid (after incentives a negative purchase price) to buy a 2015 smart electric, selling it for several thousand a couple years later.
Getting a $64/mo. lease with $0 DAS on a 2016 Chevy Cruze, and something similar on a 2015 Spark EV back in the ‘glory days’.
Buying a new 2020 Bolt in 2021 with inflated value on the trade-in (made money on that one, too), for about $23k, getting it recalled a few months later, getting a free rental car for 6 months, swapped into a new 2022 EUV Premier for $52 additional, then immediately selling that car for over the $39k MSRP.
I dumped the Bolt EUV because I’d rather have the cash than the car, and I’m in the process of moving from WA to CA. WA doesn’t charge sales tax on EV’s, so I’d have a monster registration fee due in CA, and would also forgo the CA state EV incentives. I could buy my old car back (a 2020 Bolt) and still have $15k in my pocket, even in this market.
To a certain extent, I don’t care too much what I drive (I’ve owned everything from a Mitsubishi Mirage to a VW Phaeton to a 7 Series to the aforementioned EV’s). As of this moment, I don’t own a car (just sold the Bolt), and will be looking for something in the coming weeks/months.
The market is beyond bonkers now, with 8 year old shitcans selling for 80% of their price when new at GSA auctions, 2-3 year old ones selling for more than new, and having to beg a dealer to only pay MSRP on a car is…something.
What are your thoughts on buying vs. leasing, renting a car when we need it for the day (tenable for us for awhile), and what cars may be unloved and flying under the radar in this market? Will it cost me less to beg a dealer to buy a Corolla Hybrid at MSRP, buy a monstrously overpriced used car, lease a (insert vehicle here with high retained value) for Y months, or other?
In other words, from a purely financial sense, what is the least stupid move in this market?
If you don’t want to wait, get a Toyota at MSRP. They hold their value so well you can’t go wrong. I’ve flipped 3 of them in the last year. But even if you’re keeping the vehicle you’ll stay ahead in the long term. I recommend a 4Runner. Ancient at this point but they hold their value like you wouldn’t believe.
If you’re still in WA, pm me for Toyota dealer that sells at MSRP