I’m not sure what your getting at. Are you calling me out on the dealer i work with saying it could be a month before they can allocate staff to broker deals? I’m not sure what point your trying to prove. My NY dealer shave told me it’s essential services for the month (or 30 days for the lamen) before they can honor broker deals as they want “their” immediate staff to close whatever they can, when they can get back to it. Cuomo issues only essential services and dealers are honoring just that, servicing vehicles and sales to essential needs.
what value does this add?
“My lease is up and the dealer is closed. What do I do?”
- Common sense says call your captive. Nobody here can help with that.
“Should I extend my lease?”
- That’s entirely up to that person. What does 30 threads of people saying “yes” or “no” add?
“Will leases get better next month?”
- Who the hell knows? Nobody here. What does 800 posts speculating yes or no add?
Then, let’s not forget the threads that start like this “What to do when isolated” and end in 13 people arguing over who the better president is? We are not a political forum.
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I don’t check every thread. But the ones I’ve seen closed have been in very poor taste. Basically people salivating over how screwed dealers must be and how to extract the last ounce of flesh out of them.
Since then basically any thread remotely reeking of that shit has been closed.
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So the 30-day timeframe is just some dealer’s guess.
Ohhh your being that guy…you should have just said your bored. My bad I will oblige then. Yes there guessing as non medical professionals and with the amount of cases doubling day after day there speculating. Or there looking at the current landscape and saying maybe in the coming weeks services will open up and allow some aspects of industry to reopen under different rules. But I have dealers that are sending non essential workers ie sales rep me home or laying them off.
People really need to stop spreading guesswork. You were answering whether dealers were given a timeframe on how long they would be closed for sales. You answered 30 days.
That was not a fact. That was just a guess.
Btw the little caveat “for some dealers” is absolute nonsense. The exec orders are statewide. Either all dealers can open or none.
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As I stated before some of them are adhering to the guideline and some are not. When I answer a question I’m speaking from my experience not all. I don’t believe I ever said all dealers, only the ones I work with, I then referenced MA and let the broker from MA answer.
Coronavirus is terrible for everyone, especially those in industries heavily impacted. I feel very bad for folks who will lose income over the coming months. That being said, I’ll add my thinking as to what will happen, as many people do have leases ending and are wondering what to do.
- Interest rates: since the fed funds rate is now at close to zero, rates on leases will be very low.
- Residuals: big question mark. Some OEMs may reduce residuals and some may not.
- Incentives: big question mark. Some OEMs will increase incentives while others won’t. It will be partly based on supply constraints.
- Restrictions on purchases: a handful of states now don’t allow car sales. I expect the number of states to increase but I can’t imagine car sales being stopped for over 2 months.
In summary, I expect some great deals and lots of not so great deals. Cars that are great deals today may not be in the coming months and cars that are not great deals today might be great tomorrow.
My recommendation: If you’re not too brand loyal, I’d say wait a couple months to see what happens. Extend your current lease if your state doesn’t allow new car sales.
There is nothing wrong with uncertainty, you just need to be clear that you’re providing an opinion. That’s basically all of what CNBC is.
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I think it’s fine to have a civil conversation about what we think the future of the automobile industry holds and the pandemic’s potential effect on sales, while understanding it’s all speculation at this point.
That said, a lot of the closed threads have been very specific questions in Ask the Hackrs that are repetitive and for which we have no answer for (e.g., “Should I wait until next month to lease a ______?”) The situation is fast evolving and it may be misleading to suggest there’s a right answer to a question like that.
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Here in MA, our Governor just issued an official Stay at Home advisory for the next two weeks.
Today, Governor Charlie Baker issued an emergency order requiring all businesses and organizations that do not provide “COVID-19 Essential Services” to close their physical workplaces and facilities to workers, customers and the public as of Tuesday, March 24th at noon until Tuesday, April 7th at noon. These businesses are encouraged to continue operations remotely.
Schools closed for the school year in VA
Here’s the problem with all these stay home orders…they were staggered. They should’ve implemented them all at the same time.
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No one listens to them anyways. Ohio has one in effect and there is still 70% of the regular traffic out. The car wash is even considering itself ‘essential’.
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Update for MA residents: All public/private schools and all non-emergency childcare programs will be closed until May 4.
Source: https://whdh.com/news/baker-all-bay-state-schools-will-remain-closed-through-end-of-april/
Quite the contrary, YOUR posts add little value. Say someone’s lease is up and the dealer is closed.
- they can call a broker
- they can call a neighboring state that does not have a stay at home order and they can deliver the car
- they can jump on swap-a-lease
Plenty of options… people are looking for guidance. Not your snarky one liners.
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Actually there’s a ton of speculation and room for discussion. Some manufacturers are cutting production, some are keeping production the same. The ones cutting supply will likely allow their franchised dealers to keep discounts to a minimum.
On the other hand, Different regions of the country with stay at home orders and requirements for delivery ONLY will likely be more incentivized to discount their vehicles. Dealers in the middle of Montana with no lock down and no supply cut, it’s business as usual.
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Can’t return a car to a broker or swap a lease that’s expired, so not sure how those help in the case at hand.
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I should clarify: if you are procuring another lease from another dealership (and not your local store), they will ground your lease.
And there are ways to still ground your lease at another store And not lease another car… it’s about finding the right dealer that will do it…Some, unfortunately operate on the principal if you don’t lease from them, they don’t ground your car.
Jumping on swapalease …just throwing out another alternative instead of “calling your captive”… this is after your ground your current …
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The thread that lead to his comments there was a “all the dealers are closed near me and my car is due back in a few days, what should I do?” thread. The proper answer is to call the captive. There’s no reason to have to consider driving hundreds of miles to find a state without a lockdown in effect.
The impitus for this thread was the wave of corona related threads that all popped up in a short period of time. Having dozens freaking out over the same simple things doesn’t add any value.
Still missing the point. Nearly every dealership, including New York and New Jersey, can sell and deliver cars DESPITE the lockdown… just the physical showroom has to be closed. So actually no one has to drive anywhere, they just need guidance on how to navigate a dealer that is newly accommodating a purely online / delivery lease transaction.
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