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Thread: Been Car shopping lately?

  1. #1
    Join Date
    Jun 2004
    Location
    Burlington, NC
    Posts
    773

    Been Car shopping lately?

    It's a crazy world in the car sales business now. We had a lease due to expire soon, so went looking for the next ride. Turns out we got cash offers for a 2 1/2 year old sedan that were very, very close to the original MSRP and almost twice as much as the residual buy out. We basically got all payments made on the lease (monthly and up front) returned to us, crazy. Used the car for 30 months, 33K miles, changed oil, rotated tires and bought gas and got our money back.

    Just thought it may help if you weren't aware of what is going on and you may be considering a change.

    Perry

  2. #2
    Join Date
    Sep 2007
    Location
    Longview WA
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    Did you get another vehicle?

    There is currently a shortage of vehicles for dealers to sell. That means if they have a car to sell they don't have to do much dealing to find someone to buy it at full price or more.

    Computer chips for vehicle electronics are scarce on the world market.

    My old '94 Dodge truck was listed on Craigslist. Candy thought my asking price was a pipe dream. It did have problems with the the heater stuck on, the windshield wipers didn't work, radio, and mysterious stalling. The problems were listed in the ad. The truck was out of our yard in less than two hours. Four people had to be notified that it sold to the first respondent.

    jtk
    "A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty."
    - Sir Winston Churchill (1874-1965)

  3. #3
    Join Date
    Mar 2003
    Location
    Upland CA
    Posts
    5,122
    Yeah, but did you get the new one yet??

    I have been trying to buy a new Ford Maverick mini truck. HAH! Dealers have a few...for 5K over list. You can't order a '22 because they have sold out all the orders for the year. Wait until June, and orders for the '23 models will start.

    Looks like I will be waiting a while. I sold my old truck to a grandson, and when I mention I may need to borrow it occasionally, he gives me the snake eye, like 'you sure you know how to drive it old man'. I mention that I have managed to do that since '05, punk kid, and you WILL loan it to me or I will tell your daddy. Oops, never mind, family dynamic.

    I can always cut the roof off the family mini van, but it is going up in value too.

    In reality, I think I may try to find a dealer that will sell me a stripped Maverick for list.. the way things are going, I will probably not lose much if I sell it in two years.

    Good luck finding yours, Perry.
    Rick Potter

    DIY journeyman,
    FWW wannabe.
    AKA Village Idiot.

  4. #4
    I've gifted my wife with these 2 fine automobiles-
    2stangs2.jpg
    - the '89 on the right in 1995, and the '13 on the left in 2015, presents for her 40th and 60th birthdays.
    She likes the '89 better, it's smaller, and the '13 is too big, and wayyy too fast (as if there is such a thing )

    The '89 was parked for several years but she's back up and running fine after a complete fuel system change last summer. She's in need of some door and window gaskets and a few other small items, otherwise she's pristine. Bone stock, 102k miles...
    The '13 needs nothing but to be driven. Had 24k-something miles when I bought her, is still under 27k now. Absolute blast to drive. Right now, I can sell it for probably $2k more than I paid for it. But it's not mine, and the wife doesn't want me to sell it.

    Thing is, she doesn't drive any more. Ah, well. At least I get to drive them!
    ========================================
    ELEVEN - rotary cutter tool machines
    FOUR - CO2 lasers
    THREE- make that FOUR now - fiber lasers
    ONE - vinyl cutter
    CASmate, Corel, Gravostyle


  5. #5
    Join Date
    Jun 2004
    Location
    Burlington, NC
    Posts
    773
    Local dealer had zero new cars, but we had told the salesman to call us when the next truck comes in. We actually got a good deal on the new one. Most dealers are selling new at 5% to 10% over list but not this dealer. Plus he threw in complete bumper to bumper coverage for 10yrs/100K miles and very, very low interest rates.

    Perry

  6. #6
    Join Date
    Feb 2008
    Location
    E TN, near Knoxville
    Posts
    11,652
    I know itís been a bad time to shop but iíve been looking for a new truck. The lots are mostly empty. May have to pay high dollar for a used one. Or a far more practical solution, spend a bit to fix up the Ď99 Dodge 2500. The diesel engine is fine, 145k on it. I caught the new truck bug but it feels like it might be clearing up.

  7. #7
    Join Date
    May 2021
    Location
    Spartanburg South Carolina
    Posts
    297
    This makes me wonder, it has been years since I leased a car, is the purchase value of the car spelled out in the lease agreement? Or is it what the dealer sees as the "current value".

  8. #8
    Join Date
    Nov 2006
    Location
    N.E. Ohio
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    6,270
    We take our dogs to day care three times a week so they can socialize with other dogs. (please...my wife puts up with my hobbies and I put up with her & her hounds )..

    We usually stop at Aldi's when we take the dogs to day care - - Aldi's is located right next to a Chevy dealer.

    Over the last year, I've watched the dealer's inventory shrink down. All they have left on the lot is a couple of pick up trucks. Everything else is gone. No new/no used. Empty showroom. They even cut their hours operation.
    My granddad always said, :As one door closes, another opens".
    Wonderful man, terrible cabinet maker...

  9. #9
    Join Date
    Jun 2004
    Location
    Burlington, NC
    Posts
    773
    Quote Originally Posted by Scott Clausen View Post
    This makes me wonder, it has been years since I leased a car, is the purchase value of the car spelled out in the lease agreement? Or is it what the dealer sees as the "current value".
    The buy out amount, called the residual, is set up front and is based on historical data and expected mileage. Going over the stated mileage increases the buy out number. In our case we did the lease for 15K miles yearly. Planned to turn the car in at 36 months with 45K miles and was happy with that. Sure turned out a lot better.

  10. #10
    Join Date
    Jun 2013
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    Same for commercial vehicles. I gave up when prices on the NPR and Fuso went sky high. I found a military surplus on the cheap, and I love it. Only 3500 miles and it has a CAT 3111 with 812 foot pounds of torque. I paid 1/2 of the cost of a used NPR. Parts are actually readily available for it. I talked to a commercial dealer who said he’s paying more for used than what he used to sell them for, just to get inventory.
    4B321436-4A78-4B05-8679-94F187847678.jpg

  11. #11
    Join Date
    Apr 2013
    Location
    Kansas City
    Posts
    2,112
    I was at my Toyota dealer yesterday for routine service. The sales floor had only one new car, and several used cars on it.
    Hobbyist

  12. #12
    Join Date
    Jan 2011
    Location
    Montfort, Wi.
    Posts
    572
    Same for recreational vehicles and implements.

  13. #13
    Join Date
    May 2021
    Location
    Spartanburg South Carolina
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    297
    Quote Originally Posted by Dave Fritz View Post
    Same for recreational vehicles and implements.
    I have suspected that as all of the folks who bought RV's at the start of the pandemic will start to tire of having to pay to store the things and opt to sell. There may be some bargains down the road.

  14. #14
    Dumb question, if mfr's and dealers have no new cars to sell, why is it nearly 50% of TV commercials are for new cars?
    ========================================
    ELEVEN - rotary cutter tool machines
    FOUR - CO2 lasers
    THREE- make that FOUR now - fiber lasers
    ONE - vinyl cutter
    CASmate, Corel, Gravostyle


  15. #15
    Join Date
    May 2007
    Location
    Fort Smith, Arkansas
    Posts
    1,864
    Thought about upgrading my 2003 very basic white 4 cylinder Tacoma for a newer 6 cylinder model. When I started looking at prices for ANY year I gave up. My little Taco truck with 73000 miles looks pretty good right now . Thinking about having it repainted.
    My three favorite things are the Oxford comma, irony and missed opportunities

    The problem with humanity is: we have paleolithic emotions; medieval institutions; and God-like technology. Edward O. Wilson

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