Bob04

Definitely a seller's market. But it will change. Glad I have all the autos I needed for a while.

AMIRZA786

^^ This ^^

AMIRZA786

This: I'll just keep the cars I have until things get more normal, even if I have to buy them out of the leases and this: "thank God I'm alive" but "thank God I don't have to buy another car"

AJT123

No comment, I think we see eye to eye on all of this lol.

I'm stupid with math, I did that in my head and figured high probability it was wrong lol. Now give me a 10 page paper to write, it would be done in 2 hours.

They'll hardly EVER put anything in writing over a text or email either.

A sucker is a sucker, I wonder if whomever reported it can check and see if it's still there.

Do you have that backwards? I don't mean religious necessarily in any way, just as an expression. I love my cars as much as anyone on this site does, but after an accident I'd be thankful (to God, whom/whatever, etc.) to be okay before worrying about my car.

Striker223

Of money yes. There is a lot of cheap money flying around

Och

iTrader: (3)

Then it's inflation because of markups, same difference really.

SW17LS

Thats my whole point lol. Because of how difficult it is to buy a new car, I was thankful I didn't have to over being alive...get it?

The car is just a thing, it wasn't about loving the car it was about not wanting to have to take it in the pooper to replace it.

Been lots of cheap money flying around for literally 15 years. Have you looked at the new car sales thread on here? Almost everybody's sales are DOWN 25%+ YoY. That means that less cars are being sold...yet prices are astronomically high. Why? Because there is way more demand than supply. If this was driven by cheap money and not reduction in supply sales volume would be up, not down.

In my business escalations are INSANE. I wrote an offer on a $2M house for a client. We escalated to $2.3M, all cash, zero contingencies. We lost. There were 3 offers over $2.7M and it sold for nearly $3M. Thats INSANE. Another house, $775k. I almost bought the same house in 2019 for $670k. Went for almost $1.1M. Another house, listed for $2M, sold for $2.3M before ever going on the market, buyers bought it in 2021 for $1.6M. Thats $700,000 appreciation in 1 year.

We just went over our numbers...our business is off 25%...nationwide. Yet, prices are insane. Why is that? Demand dramatically outpaces supply. Rates ghave gone up almost 2 percentage points in 2 months and its just made the market crazier.

Vehicle run ups in price are due to reduced inventory that doesn't come close to meeting demand. This is DRIVING inflation, not caused by inflation.

I promise you, dealers don't like this just like Real Estate companies don't like this. They and we make money on volume. You should see the budget cuts I'm dealing with in the middle of the "most incredible Real Estate market ever".

Its actually not even close to the same thing. These vehicle prices are transitory, they will ease once production improves.

tex2670

I've bought cars before - they most definitely do give quotes over the phone and by email. Other than a test drive, I never step foot in the dealer without a firm price already. I've had many dealers where the 1st communication I have from them is an emailed quote.

UltraLux22

Talking about all of the markups, I'm pretty fortunate. When I took delivery of my special order Ultra Lux. in late January of this year, I paid:

MSRP $54,265
Disc. $4873 + Rebate $1500 = $6373
Purchase price $47,892

AJT123

Gotcha, remember I bought my truck from a close friend so all we had to do was go to the county office and before that I bought the LS430 in 2012. I'm not in car dealerships very often.

You're right. I remember when looking at LXs I made offers and they'd give me an OTD price. But I never pulled the trigger on any of them, I don't like buying sight unseen. It was fate for me to get what I got from my friend lol.

SW17LS

This is how I have always bought cars. Well, since this was possible.

bitkahuna

iTrader: (20)

when was the last time you bought a car?

with such limited inventory, dealers want people to come in because it's first person to sign on the dotted line gets it.

SW17LS

Dealers are definitely still doing internet deals, there just isn't room for negotiation

rominl

iTrader: (4)

doesn't make sense. actually this is the market where it's easier to just throw out the prices and someone will come. in a buyer's market, sellers want to attract buyers to appear physically so sellers get a chance to close the deal. in seller's market, sellers can post up a price and buyers would rush over and maybe even overbid.

that's exactly what is happening now. some friends of mine looked for cars and they called around, sales simply said over the phone X amount over msrp, do you want it?

bitkahuna

iTrader: (20)

you're not disagreeing with what i said really... sw17ls said they don't want to negotiate not in person, which is what you just said and i'm saying i agree too, the ONLY chance of negotiation might be to go in person and if it's the end of the day or they just found out they're getting another one of the same car they might be willing to budge, a bit.

picture this... a dealer has ONE of a particular model. why on earth would they sell it below msrp? and if someone's not willing to come to the dealer... here you go, max price.

i've made no secret of the fact that i don't like dealer practices but i'm only saying here what i think they're doing and it makes sense. doesn't mean we have to like it.