New car advice needed (Posted on 6/11/13 at 10:26 am)
I've got a 2007 Lexus IS250 in excellent condition. Was not looking to buy new until next year. I got a note in the mail from the dealer saying from now till June 30th they'll give me above Kelly Blue Book value on a trade for new.
At first I dismissed it as another sales come on where they raise the sticker price to make up for the bigger trade in.
But then I read a WSJ article that says because of the economy people are keeping their cars longer which is causing a shortage of late model used cars. Supply/Demand means this has caused an increase in the prices of late model used cars.
JohnnyKilroy New Orleans Pelicans Fan Member since Oct 2012 8356 posts
re: New car advice needed (Posted on 6/11/13 at 10:33 am to Zach)
IDK about your specific car, but it is true (at least it was about a year ago) that the used car market is dog shite for buyers because the supply is so low. A family member was in the market for a 1 or 2 year used acura and ended up buying new because the used prices weren't all that much better.
I got 400 bucks above KBB on my last trade-in in 2012.
Layabout UNO Fan Baton Rouge Member since Jul 2011 6543 posts
re: New car advice needed (Posted on 6/11/13 at 11:22 am to Zach)
I've cut a deal on my last two leases to sell the cars to the dealer for $3K more than the lease-end purchase price. People are keeping cars longer and the cash-for-clunkers program also took a lot of cars off the market. It's a good time to buy new.
re: New car advice needed (Posted on 6/11/13 at 11:44 am to Zach)
Almost exactly 2 years ago we paid $26,000 for my wife’s new Honda CRV . She had it in for a free oil change and they offered her $21,000 for the current car towards a new one. I thought $5,000 off of a 2 year old car, there’s got to be a hook. I thought the hook would be that they would inspect her car and say they couldn’t give us that much because of this or that. We set up and appointment and checked them out.
The options she wants puts it at a little over $27,000. Without us asking they gave us $1400 off because they said they knew we wouldn’t agree to sticker. Honda corporate is giving us an additional $500 as a loyalty discount. We are haggling over a few hundred more dollars as they check the area for the color and options my wife wants. We might get this done this week.
Bottom line is I thought the current car would have lost a lot more than $5,000 in two years. We check the Kelly Blue Book and used car websites and it seems to be a decent deal for us.