Has anyone purchased a new vehicle lately, the prices are off the wall.

[KnappShack]

The pickle I'm in is that my vehicle is close to hitting 90k and by the time the market or interest rates start correcting my car will be basically be worthless as far as trade value goes.

But cars are built to go 200,000 miles now

Give that car a hug and a bath. It could be your inflation hedge for a few years.

I flipping hate our Kia. It still has trade value even though one dealer called a minor hood dent "major hail damage". No chance it gets traded until the mother ****** is a pile of rust.

 

[wintersmd]

Bought a used Lincoln MKT about 2 months ago. Went to a no haggle lot, Ames Nissan, and got a really good deal. 17K with only 60K miles. I keep vehicles until they are ready for the salvage yard, so it should last 13-15 years for me.

 

[JM4CY]

The pickle I'm in is that my vehicle is close to hitting 90k and by the time the market or interest rates start correcting my car will be basically be worthless as far as trade value goes.

But if you drive it for a couple more years, you will save thousands in car payments. Probably over and above whatever trade in value you had.

 

[Chitowncy]

We’re lucky we’ve got a family member that runs a large dealership, which is a part of a huge dealership network. We pay 300 over the dealer purchase price on used and near zero markup on new. And they deliver it to our driveway with the paperwork to sign.

Is your family looking for new members

My two cents to this chain: we are trying to buy a hybrid van and it seems to be near impossible. Guess we'll just wait.

 

[SEIOWA CLONE]

I also would like to pile on Toyota and their shady ass dealers. Dan Deery in Cedar Falls has a "market adjustment" of $12,000 on any truck or SUV on the lot right now. Cedar Rapids Toyota does not but you're also not paying anything but MSRP. I bet you all can guess where we bought our Rav4 Hybrid last summer at can't you. I'm on their list for a '24 TRD pro Tacoma right now, optimistically I'll get it in like May.

I found out its the Wild West out there across the country with car dealers. On the popular or hard to get models, they know they have people by the "short hairs" and are going to try and make as much money as possible of each sale.
If you are looking to purchase a new Toyota, look at the allocation list that I posted, at the bottom hit info. and you can then use it for any Toyota across the country, find exactly what you want and call around.
I found its cheaper to fly out to S. Carolina and drive the vehicle back then trying to work with some of the dealers that are only out to make as much money as possible.

 

[somecyguy]

I found its cheaper to fly out to S. Carolina and drive the vehicle back then trying to work with some of the dealers that are only out to make as much money as possible.

I've done this twice. I've flown to Chicago and Newark (2 weeks after 9/11) and drove my newly purchased car back.

 

[wintersmd]

But if you drive it for a couple more years, you will save thousands in car payments. Probably over and above whatever trade in value you had.

This is HUGE. Put the cost if a car payment in a separate account for a year or 2. When you go out to purchase your new car you will have a huge down payment.

 

[dmclone]

I refuse to buy from any dealer that either automatically does things like adds "protection packages" or charges above MSRP. In today's world, there are plenty of options out there if you do just a little research and are willing to wait just a little bit. I do use these places to do my test drives though. When I was looking at mine, Kia of Des Moines had one lower trim level in stock and it had the market adjustment of $7,500. I took it for a test drive, was very happy with the car, and then when the salesperson said "when will you be ready to buy?" I told them that I had no intention of ever buying from a dealer that added markups and walked away. It didn't hurt Kia of Des Moines because they found another sucker. I made sure I also left a Google Maps review mentioning their mark up. I also drank a couple cups of complimentary coffee , which made me feel like I was sticking it to the man!

Kia dealers are a somewhat limited quantity, there seem to be Toyota dealer every other mile so options should plentiful.

What a crazy world this is where you feel like you're getting a deal by paying MSRP. I remember during 2008 when companies like GM were offering $10k plus discounts/rebates.

 

[dmclone]

This is HUGE. Put the cost if a car payment in a separate account for a year or 2. When you go out to purchase your new car you will have a huge down payment.

Or even crazier......pay for the whole car with money that's been earning 5% in a savings account. Never stop making car payments to yourself, even if the car is paid off.

 

[2122]

Here is an example of the nutty used car pricing:
Belzer KIA of Lakeville would like to sell you a used car for more than a comparable new car!
On their website:
NEW: 0 mi. 2023 KIA Soul LX w/ Tech Pkg: Orig. MSRP $20,965, on sale for $20,790 (incl. 'freight')
USED: 33k mi. 2022 KIA Soul LX w/ Tech Pkg: Orig. MSRP $20,225, current 'Book Value' $23,825, on sale now for just $21,485

 

[Chitowncy]

Here is an example of the nutty used car pricing:
Belzer KIA of Lakeville would like to sell you a used car for more than a comparable new car!
On their website:
NEW: 0 mi. 2023 KIA Soul LX w/ Tech Pkg: Orig. MSRP $20,965, on sale for $20,790
USED: 33k mi. 2022 KIA Soul LX w/ Tech Pkg: Orig. MSRP $20,225, current 'Book Value' $23,825, on sale now for just $21,485

My guess: when you go there to actually try and buy the new car, it will be marked up much more than that. For some reason I've seen car dealers advertise a price, then when you actually visit, the new price is much much higher than advertised. Seems deceptive...

 

[SEIOWA CLONE]

My guess: when you go there to actually try and buy the new car, it will be marked up much more than that. For some reason I've seen car dealers advertise a price, then when you actually visit, the new price is much much higher than advertised. Seems deceptive...

I really like the back and forth when purchasing a new vehicle, today for a few bucks you can get a print out that will show the exact price of the make and model you are looking for and what it actually costs for any of the add ons.
The key is to be willing to walk away, which we have done a few times if we cannot make a deal.

The last 3 vehicles we purchased not counting our van, I purchased over the phone or on-line, most people today have nationwide free calling, and it can save a person a lot of money to spend a few hours searching for the vehicle you want, unless it's a specialized vehicle like our handicapped van was. The mark up on those things is crazy, they know you need it, there is not much out there, and they are going to screw you over.

When we purchased the last one a new Toyota Seinna, 2021 already had the ramp installed, we paid right around $71,000, when I sold it back to the same company less than 2 years later, only 18,000 miles on it they gave us $49,000. Which was the highest offer we could get, some wanted to give me around $42,000 to $45,000. They then turn around and want to sell it for $63,000. Nothing but a rip off.

 

[dmclone]

I really like the back and forth when purchasing a new vehicle, today for a few bucks you can get a print out that will show the exact price of the make and model you are looking for and what it actually costs for any of the add ons.
The key is to be willing to walk away, which we have done a few times if we cannot make a deal.

The last 3 vehicles we purchased not counting our van, I purchased over the phone or on-line, most people today have nationwide free calling, and it can save a person a lot of money to spend a few hours searching for the vehicle you want, unless it's a specialized vehicle like our handicapped van was. The mark up on those things is crazy, they know you need it, there is not much out there, and they are going to screw you over.

When we purchased the last one a new Toyota Seinna, 2021 already had the ramp installed, we paid right around $71,000, when I sold it back to the same company less than 2 years later, only 18,000 miles on it they gave us $49,000. Which was the highest offer we could get, some wanted to give me around $42,000 to $45,000. They then turn around and want to sell it for $63,000. Nothing but a rip off.

Not to be a jerk.....but didn't you kind of ignore your own advice with this last purchase? You're paying for a bunch of extras, plus a market adjustment, plus flying to SC and driving back.

 

[SEIOWA CLONE]

Not to be a jerk.....but didn't you kind of ignore your own advice with this last purchase? You're paying for a bunch of extras, plus a market adjustment, plus flying to SC and driving back.

Not really, I never said the MSRP, just that you could save some money. The price increase on some of these Toyota vehicles is going $5000 to $10,000 over MSRP. The vehicle we purchased does not have a lot of extra's added on, which would do me little good being in Iowa and have to be served in S. Carolina. Toyota Care does not matter where I purchased the vehicle, in fact I talked by email today with the Toyota dealership in Ottumwa about finding what I wanted and they said to make sure that I do the Toyota Care with them, which I had planned to do.

Someone asked about the sales tax, and I ran up to the courthouse this morning, and they said it varies by state, but since Iowa and S. Carolina tax is 5% for both, I would be fine paying the tax down there, just be sure to note on the paperwork that I had paid the sales tax, and it would not be a problem.

 

[Mr.G.Spot]

I really like the back and forth when purchasing a new vehicle, today for a few bucks you can get a print out that will show the exact price of the make and model you are looking for and what it actually costs for any of the add ons.
The key is to be willing to walk away, which we have done a few times if we cannot make a deal.

The last 3 vehicles we purchased not counting our van, I purchased over the phone or on-line, most people today have nationwide free calling, and it can save a person a lot of money to spend a few hours searching for the vehicle you want, unless it's a specialized vehicle like our handicapped van was. The mark up on those things is crazy, they know you need it, there is not much out there, and they are going to screw you over.

When we purchased the last one a new Toyota Seinna, 2021 already had the ramp installed, we paid right around $71,000, when I sold it back to the same company less than 2 years later, only 18,000 miles on it they gave us $49,000. Which was the highest offer we could get, some wanted to give me around $42,000 to $45,000. They then turn around and want to sell it for $63,000. Nothing but a rip off.

What do you this is a fair markup for your old vehicle? You feel 40% is too high. What do u think is fair? I am guessing they will sell it with a 33% markup when all said and done. I am just being curious to your thoughts.

 

[OscarBerkshire]

People keep saying this but it will never happen. You aren't buying a flat screen tv or shopping online for groceries when you go in to buy a car. They need routine service and warranty work and parts. You'd have to create something just like a dealership immediately after getting rid of them.

ever heard of a mechanic?

 

[3TrueFans]

Someone asked about the sales tax, and I ran up to the courthouse this morning, and they said it varies by state, but since Iowa and S. Carolina tax is 5% for both, I would be fine paying the tax down there, just be sure to note on the paperwork that I had paid the sales tax, and it would not be a problem.

This seems weird, Iowa is just going to say sure we're fine not getting our 5% as long as you gave it to South Carolina?

 

[SEIOWA CLONE]

What do you this is a fair markup for your old vehicle? You feel 40% is too high. What do u think is fair? I am guessing they will sell it with a 33% markup when all said and done. I am just being curious to your thoughts.

Really, I have no clue, but I would say that making $10,000 to $15,000 on a vehicle is a little overboard, but I guess that is the going rate of these vans.

 

[SEIOWA CLONE]

This seems weird, Iowa is just going to say sure we're fine not getting our 5% as long as you gave it to South Carolina?

That is what the guy told me at the courthouse this morning, I showed him the email that I got from my son that had the sales tax listed in the purchase agreement, and he told me that was the same as you would have paid in Iowa, and just be sure to have them write in on the purchase order that I had paid the tax on the vehicle in S. Carolina.
So, the only thing I will be paying when I register it is the regular registration fee, is what I was told.

I suppose the states have some type of agreement that transfers the money back to the state or something like that.

 

[Mr.G.Spot]

Really, I have no clue, but I would say that making $10,000 to $15,000 on a vehicle is a little overboard, but I guess that is the going rate of these vans.

Thanks