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re: Car dealers have so much backlog, some 2022s are "new"

Posted on 12/3/23 at 6:49 pm to
Posted by BeerMoney
Baton Rouge
Member since Jul 2012
8432 posts
Posted on 12/3/23 at 6:49 pm to
quote:

The pride of driving an old vehicle for 250K miles is odd to me. The same way those people criticize others who drive newer cars or expensive cars. It’s all just a weird subculture of who the F cares


I care because I see many people buying these cars at these dumb prices who will likely lose them. I’ll end up paying for it in a government bailout of the irresponsible. Driving a vehicle for a long time is responsible behavior rather than living outside your means for vanity.
Posted by Rip Torn
Member since Mar 2020
2309 posts
Posted on 12/3/23 at 6:55 pm to
Jeep makes the worst vehicles on the planet so no I will pass
Posted by JAMAC2001
Member since Jan 2013
2767 posts
Posted on 12/3/23 at 6:57 pm to
Wife and I both drive paid off 2016-2017 vehicles.

Every time we get the idea to look at newer vehicles, the prices turn us off. Its out of control.

We have a family income of 170k with only a mortgage for debt. I cannot wrap my head around how those who make much less, and already probably overextended, choose to make such a reckless financial decision to have 1 or 2 notes on $45-55k vehicles.
Posted by MexicanBurtReynolds
Fairhope, AL
Member since Feb 2010
399 posts
Posted on 12/3/23 at 7:02 pm to
Not OT rich, but spoke with 3 dealers this weekend. Would not budge off the price when I said I was paying cash. This was for a 20k "used" 2022 Hyundai. Guess they only want 72-84 months @ 9%.
Posted by notiger1997
Metairie
Member since May 2009
58421 posts
Posted on 12/3/23 at 7:05 pm to
quote:

I said I was paying cash


You really shouldn't talk about how you are going to pay for a vehicle during the initial process. You work on sell price.
Posted by Locoguan0
Baton Rouge, LA
Member since Nov 2017
4427 posts
Posted on 12/3/23 at 7:31 pm to
Prices have gotten out of control while vehicles barely make it through a warranty. Combined with high interest rates, this is not surprising.
Posted by Strannix
District 11
Member since Dec 2012
49144 posts
Posted on 12/3/23 at 7:35 pm to
70k for a Jeep Cherokee
Posted by notiger1997
Metairie
Member since May 2009
58421 posts
Posted on 12/3/23 at 7:38 pm to
quote:

while vehicles barely make it through a warranty.


Nah
Posted by goodgrin
Atlanta, GA
Member since Nov 2003
5963 posts
Posted on 12/3/23 at 7:42 pm to
quote:

This is where everyone who is poor on the OT fronts and talks about how their cars are paid off and they’ll drive their 2015 into the ground before buying new.


I'm definitely not poor, but chose to continue driving my paid off 2017 Honda Pilot until prices of new cars go lower in 2024. The Jeeps are still overpriced.
Posted by MexicanBurtReynolds
Fairhope, AL
Member since Feb 2010
399 posts
Posted on 12/3/23 at 7:59 pm to
quote:

You really shouldn't talk about how you are going to pay for a vehicle during the initial process. You work on sell price.


Serious question, should I act like I want to finance for 72 months, and then at the end, gotcha, I'm paying that amount on the sheet today? Only problem is I am about an hour away from any dealership, and don't want to spend all day. I thought I was doing good over text, but you may be right.
Posted by JAMAC2001
Member since Jan 2013
2767 posts
Posted on 12/3/23 at 8:06 pm to
quote:

Serious question, should I act like I want to finance for 72 months, and then at the end, gotcha, I'm paying that amount on the sheet today?


That EXACTLY what you should do.

Edit: lead them to believe you are considering their financing while you are negotiating. They add some padding on the interest rate and make more money that way.
This post was edited on 12/3/23 at 8:08 pm
Posted by natsoundup
Simpsonville, SC, Jupiter, FL,
Member since May 2013
367 posts
Posted on 12/3/23 at 8:24 pm to
Love my 2006 GMC Envoy with 161 k
Posted by HooDooWitch
TD Bronze member
Member since Sep 2009
10291 posts
Posted on 12/3/23 at 8:29 pm to
Cars are "new" until they get titled to the first owner. Doesn't matter what year it is.
Posted by JAMAC2001
Member since Jan 2013
2767 posts
Posted on 12/3/23 at 9:13 pm to
quote:

Cars are "new" until they get titled to the first owner. Doesn't matter what year it is


True, technically. I think the point being made was that KBB dont see it that way. your 2022 model year is just like every other 2 yr old vehicle when you go to resell.
Posted by Arkapigdiesel
Arkansas
Member since Jun 2009
13436 posts
Posted on 12/3/23 at 9:20 pm to
quote:

We aren't rich by any means, but my wife and I are in the top 20% of household income in the US. I'd never pay 50k+ for a vehicle much less 65k for a damn Jeep Cherokee

Better watch it, the OT will call you a liar and that you're really just a poor that can't afford a new vehicle

I'm with you. I just can't bring myself to paying that much for a depreciable property. It just doesn't make good sense to do so. Some people get joy in keeping in a newer vehicle, so good for them I guess.

I'd rather invest and grow any additional money I have. I'm weird, I guess.
This post was edited on 12/3/23 at 9:21 pm
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37242 posts
Posted on 12/3/23 at 9:33 pm to
quote:

You really shouldn't talk about how you are going to pay for a vehicle during the initial process. You work on sell price.


In most normal negotiations, saying you will pay cash will bring down the price.

With vehicles, it’s almost as if saying you will pay cash actually increases the price.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37242 posts
Posted on 12/3/23 at 9:36 pm to
quote:

Nah


Cars make it through but stuff tends to break soon after.

Last week wife’s car, passenger side window rolled down and would not roll back up. Finally got it to go back up but sounds like motor is going out.

Warranty expired two weeks ago
Posted by VetteGuy
Member since Feb 2008
28633 posts
Posted on 12/3/23 at 9:38 pm to
Correct.
Posted by stelly1025
Lafayette
Member since May 2012
8561 posts
Posted on 12/4/23 at 12:58 am to
quote:

Not OT rich, but spoke with 3 dealers this weekend. Would not budge off the price when I said I was paying cash. This was for a 20k "used" 2022 Hyundai. Guess they only want 72-84 months @ 9%.


Wait them out they'll call you back.
Posted by themunch
Earth. maybe
Member since Jan 2007
64797 posts
Posted on 12/4/23 at 6:47 am to
quote:

I wonder why they don't sharply cut the prices? At some point just cut your losses and move on.


Question.

Is the unsold inventory used as a tax write off for the dealer or the maker?

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