New cars bought - prices paid

[larjoranj]

Help us all out and post your new car buying experience. What did you buy? Where did you buy it? What did you pay? If you traded, what did they give you for your trade?

Edmunds used to have a forum where people could discuss their new car deals. It was very helpful. I think they did away with that forum though.

I personally am looking to buy a new Kia Sportage. I went to Greenway Kia in Nashville today and was told they are selling for 5,000 above sticker price. Wow. Not gonna work for me. I've heard the stories about car prices since covid. What are you guys paying for your new cars?

 

[LadyVolette]

Help us all out and post your new car buying experience. What did you buy? Where did you buy it? What did you pay? If you traded, what did they give you for your trade?

Edmunds used to have a forum where people could discuss their new car deals. It was very helpful. I think they did away with that forum though.

I personally am looking to buy a new Kia Sportage. I went to Greenway Kia in Nashville today and was told they are selling for 5,000 above sticker price. Wow. Not gonna work for me. I've heard the stories about car prices since covid. What are you guys paying for your new cars?

I got a good trade in value for my used Nissan .. had to pay sticker price (they would not haggle at all) Lexus… Franklin dealership..we had to drive to Atlanta to get kids first car for them..used car prices were better there than middle Tennessee, they think the cars here are made of gold right now lol

 

[YankeeVol]

Market adjustments should be gone (if not, it’s just a super ****** dealership. Not that there should have been one in the first place).

 

[95 Vol Alum]

Market adjustments should be gone (if not, it’s just a super ****** dealership. Not that there should have been one in the first place).

They’re very real with Honda. And very very real in Memphis. HR-V I looked at last week was marked $6900 over MSRP. Best they could do was $2200 over so I walked.



Dealer near Little Rock said they could $600 over on a Sport which I did not want.

 

[YankeeVol]

They’re very real with Honda. And very very real in Memphis. HR-V I looked at last week was marked $6900 over MSRP. Best they could do was $2200 over so I walked.

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Dealer near Little Rock said they could $600 over on a Sport which I did not want.

Certain markets are more predatory than others. Plenty of dealers out there not doing markups.

 

[Go aeiou]

last March
lexus/sticker, no add ons
mazda cx5, sticker, gave me more for my trade in kia than I paid 3 years earlier.

 

[Jackcrevol]

Used Toyota Sienna XLE - 2015 100K miles, 1 owner, all serviced at dealership. Wouldnt certify bc of miles. Came in as we were looking.

Nicer than many '18's, 19's, and 20's.

$25,5K Such is the new normal.

 

[WaywardVol]

Market adjustments should be gone (if not, it’s just a super ****** dealership. Not that there should have been one in the first place).

With any market, auto, housing or otherwise, there is no one size fits all. Adjustments are based on current inventory and inventory forecasts. If you walk on any lot, you’ll have some cars that sell for a discount, some at MSRP and some over. And that’s in the same lot.

If a dealer has one car, and on average is getting 20 leads on that one car, it is their financial responsibility to maximize return.

I sold two of my personal cars during the pandemic. One to a dealership. Both for significantly more than I had paid for them. Am I in the wrong? Hell no.

 

[YankeeVol]

With any market, auto, housing or otherwise, there is no one size fits all. Adjustments are based on current inventory and inventory forecasts. If you walk on any lot, you’ll have some cars that sell for a discount, some at MSRP and some over. And that’s in the same lot.

If a dealer has one car, and on average is getting 20 leads on that one car, it is their financial responsibility to maximize return.

I sold two of my personal cars during the pandemic. One to a dealership. Both for significantly more than I had paid for them. Am I in the wrong? Hell no.

I had worked in the industry the last 3 years. When the manufacturers tell you not to and you still do, you’re just greedy.

There‘s a reason I’ve had 4 trucks the last 2 1/2 years. I haven’t lost money yet.

It’s all coming to a head though. There’s A LOT of dealers under water on used vehicles.

 

[WaywardVol]

I had worked in the industry the last 3 years. When the manufacturers tell you not to and you still do, you’re just greedy.

There‘s a reason I’ve had 4 trucks the last 2 1/2 years. I haven’t lost money yet.

It’s all coming to a head though. There’s A LOT of dealers under water on used vehicles.

Are you still in the industry? I worked in the industry for 27 years, and sold over 3500 vehicles. If the manufacture has something specific in their franchise agreement, sure. I can say that our manufacturer didn’t make any formal statements and would even give us feedback as to what others were doing.

I know a lot of guys who flushed out because their dealers weren’t charging over and they didn’t have enough inventory to sustain a career.

 

[YankeeVol]

Are you still in the industry? I worked in the industry for 27 years, and sold over 3500 vehicles. If the manufacture has something specific in their franchise agreement, sure. I can say that our manufacturer didn’t make any formal statements and would even give us feedback as to what others were doing.

I know a lot of guys who flushed out because their dealers weren’t charging over and they didn’t have enough inventory to sustain a career.

I’m not but not because of that (I’m probably going back lol). I moved to F&I for the last half of last year.

I was on pace for the same money wise and we never charged over MSRP on new.

I know Ford and GM were saying not to sell over MSRP.

 

[kiddiedoc]

I know Ford and GM were saying not to sell over MSRP.

Including the Bronco?

 

[YankeeVol]

Including the Bronco?

I would assume yes. I worked at a GM store so not 100% sure.

 

[VolunteerHillbilly]

While I have not been directly affected by paying a market adjustment, I will be steering clear of a dealership with which I had a 30+ year buying history over it. Don't really care about the rationale. I think it's shady business. Hopefully, they made huge stacks while they could 'cause I doubt I'm alone.

 

[mr.checkerboards]

While I have not been directly affected by paying a market adjustment, I will be steering clear of a dealership with which I had a 30+ year buying history over it. Don't really care about the rationale. I think it's shady business. Hopefully, they made huge stacks while they could 'cause I doubt I'm alone.

Its very dirty, and going to lead to a lot of people being repossessed in the next couple years because they cant afford their car payment.

 

[TN404]

Was lucky enough to buy a Bronco at MSRP but had to fly to Indy to get it. Most are going for $20k over MSRP but it does seem to be cooling off a bit. There is a dealer down the street from me that has 10 of them but they are not moving due to ADM. Ford discourages but most dealerships ignore.

 

[kiddiedoc]

Was lucky enough to buy a Bronco at MSRP but had to fly to Indy to get it. Most are going for $20k over MSRP but it does seem to be cooling off a bit. There is a dealer down the street from me that has 10 of them but they are not moving due to ADM. Ford discourages but most dealerships ignore.

How are you liking it?

 

[JFreak]

Anyone bought a Toyota recently? Looking at a new Camry.. those should be MSRP right?

 

[TN404]

How are you liking it?

Absolutely love it and can't wait for spring. Bought a Badlands Sasquatch LUX in Iconic Silver soft top. Pop two latches and entire top opens in seconds. Terrible gas mileage at ~15 mpg is the only issue but that comes with the gearing and 35" tires. Have not been 4 wheeling yet.

 

[YankeeVol]

Anyone bought a Toyota recently? Looking at a new Camry.. those should be MSRP right?

Absolutely should be

 

[txbo]

I had worked in the industry the last 3 years. When the manufacturers tell you not to and you still do, you’re just greedy.

There‘s a reason I’ve had 4 trucks the last 2 1/2 years. I haven’t lost money yet.

It’s all coming to a head though. There’s A LOT of dealers under water on used vehicles.

For decades manufacturers, chasing marketshare, remained silent while dealers had to deeply discount vehicles... even selling some models at a loss.
If they now can't produce enough to keep up with demand and dealers sell over MSRP, they need to remain silent.

 

[txbo]

While I have not been directly affected by paying a market adjustment, I will be steering clear of a dealership with which I had a 30+ year buying history over it. Don't really care about the rationale. I think it's shady business. Hopefully, they made huge stacks while they could 'cause I doubt I'm alone.

Some adjustments are/were ridiculous. Some adjustments are/were necessary. When the supply interruptions first started, I wouldn't allow any market adjustments. People started buying popular vehicles and flipping them to CarMax, carvana, etc for several grand more within days. I had to raise prices enough to disincentivize that.

 

[Jackcrevol]

For decades manufacturers, chasing marketshare, remained silent while dealers had to deeply discount vehicles... even selling some models at a loss.
If they now can't produce enough to keep up with demand and dealers sell over MSRP, they need to remain silent.

'at a loss.'

Selling a car for 80-100K, you cant tell there isnt a markup?

 

[larjoranj]

Some adjustments are/were ridiculous. Some adjustments are/were necessary. When the supply interruptions first started, I wouldn't allow any market adjustments. People started buying popular vehicles and flipping them to CarMax, carvana, etc for several grand more within days. I had to raise prices enough to disincentivize that.

People were selling new cars to Carmax for a couple thousand profit? So I guess Carmax had to sell them for a few thousand more than that to make a profit. So why were people paying Carmax 5 thousand more for a used car than they would pay for that same car new? I don't understand

 

[YankeeVol]

People were selling new cars to Carmax for a couple thousand profit? So I guess Carmax had to sell them for a few thousand more than that to make a profit. So why were people paying Carmax 5 thousand more for a used car than they would pay for that same car new? I don't understand

People aren't the brightest...