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re: I can’t help but think a lot of people driving newer cars with upside down loans
Posted on 5/9/24 at 12:39 pm to saintkenn
Posted on 5/9/24 at 12:39 pm to saintkenn
quote:
It's really funny that people think dealers lie so much when in fact, Ive been lied to by customers more than any other interaction I've had. It's like you just want to have a cool story to tell, but at least make it believable.
Having grown up around the car business I wholeheartedly agree with this statement.
1
Posted on 5/9/24 at 12:40 pm to PeteRose
Mom had a 2021 RAV4 she paid cash for.
After she died my brother asked me if he could have it. I see why now.
After she died my brother asked me if he could have it. I see why now.
Posted on 5/9/24 at 1:05 pm to PeteRose
There are a lot of people that make great money and don't worry about these things. I am not one of them.. Insurance is worse than the car note.
Posted on 5/9/24 at 1:28 pm to 4LSU2
quote:
4LSU2
quote:
I’m driving a 2015 F150 Lariat 4WD with 215K miles.
Similar Boat:
2015 F150 4WD XLT 5.0 V8 with 180k miles. Transmission is starting to slip between 3 and 4, so debating whether to fix and keep rolling or buy new. Not really excited about a new truck note. May bite the bullet, fix/replace tranny and drive another 100k miles
Posted on 5/9/24 at 3:42 pm to PeteRose
This was years back, but my friends girlfriend worked at a Credit Union and this was when Tahoe's were going for about 50K loaded. She would see the actual price the dealership paid and one time she showed us the invoice for a Tahoe that was sold for 47K but the actual dealership price was $19375. Thats how much they are raping people with these vehicles.
Posted on 5/9/24 at 4:04 pm to nbern2022
Anybody else having problems with door lock actuators on Japanese cars? On the 2012 Highlander every door eventually failed (twice on the driver's door). Now I'm having problems on 2 doors on the 2017 Acura MDX. Just curious...
This post was edited on 5/9/24 at 4:33 pm
Posted on 5/9/24 at 4:37 pm to Zapps4Life
Two cars both paid for a 2017 Acadia for the daily kid hauler and a 2002 Sierra 1500 with 62,000 miles on it for me.
No plans to change either any time soon. Acadia has weird electrical glitches. Sierra is a beast.
I wouldn't buy another GMC. Honda or Toyota when we do need a replacement.
No plans to change either any time soon. Acadia has weird electrical glitches. Sierra is a beast.
I wouldn't buy another GMC. Honda or Toyota when we do need a replacement.
Posted on 5/9/24 at 4:45 pm to nbern2022
quote:
She would see the actual price the dealership paid and one time she showed us the invoice for a Tahoe that was sold for 47K but the actual dealership price was $19375.
LOL
She’s full of shite
Posted on 5/9/24 at 8:28 pm to bad93ex
CDs only last time I renewed.
Short-term around 4.5
Short-term around 4.5
Posted on 5/9/24 at 8:29 pm to nbern2022
BS.
Posted on 5/9/24 at 8:43 pm to Lsupimp
quote:
I drive a 2012 Acura that has been paid off for 7/8 years. My maintenance costs have been nil. I feel judged by those who drive high status vehicles, as if I’m not part of The Club.
Vehicles have one goal. Get you from point A to point B. I know a guy who is the mechanical engineering manager at his company.
This is what he drives.
A 1986 suburban. He said his wife wanted him to get a new vehicle years back. Instead of buying a new vehicle he put a new transmission in it. He said he drives it to and from work and to run errands, his wife leases her vehicle. When they go places they go in her vehicle so buying a brand new vehicle or even a decent used vehicle would be a waste of money.
Posted on 5/10/24 at 7:33 pm to Obtuse1
Ummm
This post was edited on 5/15/24 at 8:30 am
Posted on 5/10/24 at 7:44 pm to OweO
quote:
A 1986 suburban
He needs to keep that thing. Nobody makes them like that anymore. I bet he doesn't pass up many gas stations though.
Posted on 5/10/24 at 8:57 pm to ghost2most
quote:
2002 Sierra 1500 with 62,000 miles on it for me.
Damn
Posted on 5/10/24 at 10:05 pm to bad93ex
I put my cash into TMCXX.
Posted on 5/10/24 at 10:15 pm to nbern2022
quote:
This was years back, but my friends girlfriend worked at a Credit Union and this was when Tahoe's were going for about 50K loaded. She would see the actual price the dealership paid and one time she showed us the invoice for a Tahoe that was sold for 47K but the actual dealership price was $19375. Thats how much they are raping people with these vehicles.
She lied to you and you are dumb for believing that.
I don't know what it is now but the invoice price on new GM's was a flat percentage of the sticker. Around 95% iirc. Cadillacs had a larger spread than the rest of GM but they changed that in the late 90s/early 2000s.
There isn't nearly as much spread between invoice and sticker as people think.
And no, the dealer doesn't necessarily pay invoice either as there is holdback which is for covering the floorplan and advertising is also in there. And, manufactures can offer dealer cash to move slow product instead of rebates. Luxury brands usually use this as rebates are not a good look for "high end" cars. Dealer cash is not advertised but allows the dealer to either put a lower sale price on, or more commonly, boost what they show for trade in on your hooptie.
ETA-The vast majority of the time, Covid craziness excepted, the dealer makes money in the used cars, finance office and service department. New cars are generally not a big profit center but rather a vehicle to get you to spend money in other ways at the dealer.
Example-Get your financing through the dealer? They're probably holding points on the loan. ie-You get a 7% rate the bank is likely kicking 2% back to the dealer for selling the loan.
This post was edited on 5/10/24 at 10:21 pm
Posted on 5/10/24 at 10:20 pm to PeteRose
quote:
I have an 800 score my bank offered me a 10% rate.
frick that! I just got 8% for 144 months for a travel trailer (relax, I'll pay it off in a year). Your bank is fricking you. Give the wife your car and buy a cash beater.
Posted on 5/10/24 at 10:26 pm to PeteRose
quote:
We’ve looking at Rav4 so around 32k depending on the trim give or take. But I found out the avg new car price is 47k?
You won’t pay 47K for a used RAV4 with 30K miles on it, so at least you have that going for you. I have never paid over 30K for any vehicle I have ever purchased. Eventually I will have to, but I will always do my best to get value on a reliable vehicle. I don’t care about anything else.
Posted on 5/10/24 at 11:48 pm to Tantal
quote:
144 months
frick it's wild that was even offered
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