Yes they can’t wait to automate even more jobs…we all know many jobs in America’s circle jerk service economy are pointless and could easily be obsolete. But corporations trade off tax credits by keeping butts in chairs. Unsustainable model of the money printing ever shuts down.
When’s that ubi start? I’m guessing 2025
I have said it time & time again that it takes 1 (or maybe 2) companies who don’t want to follow this model, who has readily available cars, discounts, incentives etc to capture market share before the proponents of this model jump ship.
Unless the turnaound is less than a week, this model is not going to be successful.
My turn to article drop! $29,000 for an average used car? Would-be buyers are aghast - ABC News
Any guesses as to which Philly area dealer he used at the end of the story?
Pittsburgh area Toyota not Philly… I could have saved them 4k prob.
was about to share same article posted on the local ABC channel here in the ATL…
39% increase in prices from 11/20 to 11/21…thats absolute madness
really wish we had better public transit at this stage.
I am up 14,000 (what the dealer is offering - my payoff amount) on my e-tron lease (i am 9 payments in).
I don’t NEEED it since I have an old camry for errands and I work from home…
But I am scared this madness won’t end in a year or two…
No way it goes any higher….
SELL SELL SELL SELL
Dump the etron
Was about to post on the Nissan Frontier lease someone recently shared, but I didn’t want to hijack that thread.
I don’t think anyone would have imagined seeing 98-99% 18 month residual values on a vehicle. But these are crazy times. Asking the industry experts or people with industry knowledge if other automakers/banks/FS have also adjusted residual % values based on the current market? In general have residuals increased vs. 18 months-2 years ago? In general how much %?
Just a simple search on Edmunds for a 2022 330i shows a 61% residual on a 24 month lease vs. the 66% residual from my lease two years back. I wasn’t expecting to see a lower residual currently for a car vs. 2 years ago.
If automakers/banks/FS haven’t yet adjusted their residuals to the current market do you expect they will?
Why would RVs for vehicles being returned in 18-48 months be based on the current market?
This is a question for @RVguy if he’s around and can weigh in.
58% for 10K on the 3er.
Why would they? They are seeing most of today’s lessees pay stupid money to lease their cars, no matter how little sense it often makes these days.
They’ve found a certain group of buyers with an addiction, so they’re gonna make money hand over fist feeding it. On the front end with higher prices and higher MFs and little-to-no rebates; and on the back end where they’ll take lease-returns and sell the cars above RV.
This is true and automakers are milking this market with removing incentives, and higher prices, but aren’t automakers loosing an opportunity here that dealers are taking advantage on. Although MSRP on vehicles has gone up on 2022 MY, current markups and might mean this is still below what consumers are willing to pay(assuming this is sustainable), wouldn’t automakers take this benefit away form dealers by raising residuals and further raising the MSRP.
This is a very valid point and on my end I believe this market isn’t sustainable, and don’t think the supply chain/chip shortage could last as far as 48 months ahead. But, with inflation at 6.8%, although it might be lower moving forwards I don’t expect it to return to pre-pandemic levels, higher than usual year over year MSRP increases on vehicles should impact the used vehicle market, thus resulting in higher used car prices based on the original MSRP at the time of purchase. I am just wondering if things like this are being considered when setting residual values. From the reply it seems that there hasn’t been any adjustment yet, but I am wondering if these are factors that will come into play in the future.
I come from a country with historical double digit inflation and have seen the impact of inflation/currency devaluation on used car prices and overall commodities. I might be pessimistic here but although the market might correct itself in the future, higher inflation will likely remain.
Done. Got a $15,000 check.
Payment free to start the year. Feels good. Need to sign off leasehackr lol…
That’s on the E-tron right? Audi dealer bought it out?
Two months ago, one audi dealer said 59.
Carvana had said 59 also but of course AFS doesn’t work with third party well.
When I refreshed the carvana offer yesterday it had dropped to 53.
But! Vroom went from 60 to 63…so I knew the market was still hot.
Called my other local audi dealer and asked what they would pay for it. Said 60K…and then bumped it to 61 once they saw the car.
My payoff from audi FS was ~46.
I have an Audi dealer right near my house. I drive by it every day. Their lot has been empty for almost two years. Today it was packed with new Audis. Not sure what that means.
If you look on their website you can see they have a bunch if inventory
Sounds like a dysfunctional store. Maybe they got bought out.