This is my issue. The deals are terrible right now but I am getting offers for ABOVE MSRP on my 2019 4Runner (almost $10k in equity). I worry if I don’t dump it now that I’ll lose most of that when the market corrects.
That’s like my circumstance. CarMax has offered $6K over my lease payoff on my 2019 Kona. But new Kona’s are going for MSRP for the most part.
sell the car and buy a vespa
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Or get a Bolt
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The title of the thread might be a good place to start…
Outside of the recent 4xe------
I’m sitting on equity and waiting for deal that makes sense(something with msds). Seems when I mention msds to local dealerships they’ve never heard of it… Can’t find anyone on LH to build me an m340ix,ct5v or c43. Frustrating because I’ve extended my lease another 3 months now im hunting for m3s or even a 750…ugghh
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I’m just glad I got a deal done back in March. There’s a $7k difference for the same car. Unreal.
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Which car? e-tron?
nah, just a Hyundai.
From what I’ve seen the car I got in March wouldn’t be even available now due to no parts.
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That’s the issue. Everyone here keeps saying wait, but it has only been getting worse. If you have time to wait a year great, but if you need a car within 3-4 months it could keep getting worse.
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I was purposely waiting until summer to place a factory order for my next car to make it easier for everyone since when I shopped around two years ago dealers were at around invoice until June when it became easy to find 10-12% off a custom build.
In fact, I’m usually the type to shop around the entire Northeast to find the best deal possible. This time I decided that I knew what I wanted, that I’d have to do a factory build to get it, and what a fair price range would be so I wanted to visit one dealer in one day and get it done.
Imagine my surprise when the first dealer I went to that offered 12% off last time came back to me at $1,000 under MSRP. I intended to do the deal at as low as 8% to make it easy so I wouldn’t have to visit multiple dealers. I definitely wasn’t expecting production shortages to have such a dramatic impact on pricing, especially since it seemed like the automotive industry was booming post-COVID.
Now I’m finding dealers are telling me that I have to shop around if I want a deal and they’d beat it by $500. Thankfully I was able to find at least one or two dealers that will go under invoice without marking up the money factor pending an allocation.
Still, once I get into car shopping mode I find I can’t stop and it becomes a bit of an obsession. Normally I’d be patient but waiting for an allocation has been agonizing. Taking an in-stock car that’s missing the options I want wouldn’t even be a consideration unless the dealer was willing to beat that deal, especially considering how normally it doesn’t take a lot of effort to negotiate 10-12% off the sale price of an in-stock BMW.
I’m not even enjoying inquiring with multiple dealers and comparison shopping this time whereas in the past I did. I honestly did just want to get it done in one day with one dealer. Now this is all I can think about until I have a deal finalized.
When do we think the market will return to normal? I don’t mind paying 7-8% off of MSRP as opposed to 10-12% previously, but I wouldn’t go higher than that and some dealers are pretty firm at invoice at the absolute most. It’s making car shopping more difficult than usual, and I wanted the opposite experience for all parties involved this time.
Supply and demand sets prices…
dealers who normally have 250 units now have 25.
If you were that dealer would you sell at 8% off MSRP or wait for a better price ?
It may be well into next year (2022) before supply chains get back up and running like before. It will be after that, that inventories get rebuilt and prices normalize.
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Rule #1 of economics. Supply isn’t all that constrained depending on the dealer though.
You be mis-informed
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There are dealers that have 100-200+ cars on their lots. I was looking at the Kona Electric earlier as well and my local dealer has 39 of them.
My top choice is the i3, but even normally dealers around me only keep 1-2 on their lots if they choose to carry them at all and they take a long time to sell.
Honestly been talked about on LH quite a bit. The consensus is that no one has a crystal ball. Speculation on my part is even when auto makers could go back to sending 90 days worth of supply to every dealer I am not certain that you will see it. Many manufacturers and dealership groups having had this Covid / Supply Chain Case Study and will have the FP&A group and the Cost Accounting group and very well may figure out it’s more profitable to have higher margin on less cars and roll with that model going forward. As was mentioned earlier on another thread, even if supply / demand even out, dealerships are going to play this card as long as they can.
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Yes Korean units are in better supply, but nowhere near where they’d like to be.
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Don’t forget - your order may come with options missing (even if you had it on the order). The factory could face supply chain issues and just give you a credit for that option being removed.
Also, another poster just put up a topic where the dealer reneged on his custom order deal and raised the price. This is before the car even arrived. YMMV
I’d wait it out if possible