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re: When do you predict vehicle prices will normalize?
Posted on 1/22/23 at 5:07 pm to ccomeaux
Posted on 1/22/23 at 5:07 pm to ccomeaux
quote:
Wholesale values are down 15% since mid 2022. They will continue to drop as the economy weakens
New vehicles will start offering big discounts again, some already are, with large rebates by mid 2023
Give it 6 months
From your lips to God's ears ...
0
Posted on 1/22/23 at 5:10 pm to BabyTac
Good luck - I was able to find one
I used numerous sites
Cars.com
Car guru
YAA.com
I used numerous sites
Cars.com
Car guru
YAA.com
Posted on 1/22/23 at 5:10 pm to BabyTac
As soon as you realize this is that “new normal” they kept trying to condition us for during the shutdowns
Posted on 1/22/23 at 5:13 pm to BabyTac
Wait a while
There are a bunch of repossessed vehicles "no saling" at auctions right now. Bunch of people bought stuff with covid money and then claimed forbearance.
Look up Lucky Lopez for week by week coverage of car auctions as they relate to bank losses and dealer losses.
Longer term a lot of forward consumer demand is going to be suppressed because most of the people who trade in vehicles after 2-4 years of ownership are going to be too far upside down on their notes to afford new vehicles (because of the inflated prices they paid in 21 and 22).
There are a bunch of repossessed vehicles "no saling" at auctions right now. Bunch of people bought stuff with covid money and then claimed forbearance.
Look up Lucky Lopez for week by week coverage of car auctions as they relate to bank losses and dealer losses.
Longer term a lot of forward consumer demand is going to be suppressed because most of the people who trade in vehicles after 2-4 years of ownership are going to be too far upside down on their notes to afford new vehicles (because of the inflated prices they paid in 21 and 22).
Posted on 1/22/23 at 5:21 pm to molsusports
Good information
Posted on 1/22/23 at 5:22 pm to BabyTac
Small rebates are back, but just off msrp. Next year probably for the $15k off a xlt trim.
Posted on 1/22/23 at 5:27 pm to BabyTac
Toyota's failure to stock is either intentional or their supply chain is full of retards.
Here is what the dealership told me caused the issues:
1. Chip shortage
2. Part shortage
3. Glass shortage- seriously.
4. Rubber shortage?
I'm trying to get a Sienna AWD Platinum. It's nearly impossible.
Here is what the dealership told me caused the issues:
1. Chip shortage
2. Part shortage
3. Glass shortage- seriously.
4. Rubber shortage?
I'm trying to get a Sienna AWD Platinum. It's nearly impossible.
Posted on 1/22/23 at 5:33 pm to BabyTac
Probably around the end of summer or Christmas time 2023. They’ll be offering good rebates and low APR especially if there is a large influx of vehicles needing to be sold to make room for 2024 models
Posted on 1/22/23 at 5:38 pm to BabyTac
This summer after tax rebate season
Posted on 1/22/23 at 5:41 pm to BabyTac
It would help a lot if ppl just refused to buy new vehicles, on principal. I’m including ppl that buy their new cars with cash or credit card.
Once a glut of cars formed, prices will start to go down.
Once a glut of cars formed, prices will start to go down.
Posted on 1/22/23 at 5:47 pm to BabyTac
Prices basically ratchet upward in a growing economy. Muh new normal.
Posted on 1/22/23 at 5:50 pm to JAMAC2001
quote:
They are going to milk this shite as long as they can. Muh supply chain.
It just takes one dealership in any particular area to blow that apart. Remember, the manufacturers wanna sell as many vehicles as possible.
Posted on 1/22/23 at 5:59 pm to ccomeaux
quote:This. Demand is going to dry up as the economy tanks and interest rates continue to rise.
Wholesale values are down 15% since mid 2022. They will continue to drop as the economy weakens
New vehicles will start offering big discounts again, some already are, with large rebates by mid 2023
Give it 6 months
Posted on 1/22/23 at 6:15 pm to BabyTac
I just bought a new vehicle. Got $2k more for my trade than I paid for it in March of 2020(right when the shut downs happened and everyone was freaking out. This was before all of the shortages, so I got that car for about $5k off MSRP) plus I was able to negotiate $1850 off of MSRP. All in all, I think I timed it alright.
Dealers were a lot more interested in negotiating with me off MSRP and weren't adding on stupid dealer addon's for $$.
If I had waited another month to buy, I don't think I'd have gotten what I got for my trade in. Overall I'm happy.
Dealers were a lot more interested in negotiating with me off MSRP and weren't adding on stupid dealer addon's for $$.
If I had waited another month to buy, I don't think I'd have gotten what I got for my trade in. Overall I'm happy.
This post was edited on 1/22/23 at 6:21 pm
Posted on 1/22/23 at 6:19 pm to BabyTac
quote:
When do you see thinks correct themselves?
When people stop paying the outrageous prices .. prices will come down. Until then, manufacturers and dealers will continue to inflate to maximize profit.
Posted on 1/22/23 at 6:21 pm to BabyTac
quote:
Seeing $50-$70k for low mileage used trucks and 80-100K for new.
What generic “truck” is $100k? Anything at that price is an exclusive limited production model.
This post was edited on 1/22/23 at 6:23 pm
Posted on 1/22/23 at 6:25 pm to ccomeaux
quote:
Wholesale values are down 15% since mid 2022. They will continue to drop as the economy weakens
True.. and while 15% down sounds like a large number. We still have a long way down to go.
Posted on 1/22/23 at 6:39 pm to Civildawg
quote:
but there’s no denying how many cars they have sitting on their lots right now just from the dealerships I’m seeing locally
Which ones?
Posted on 1/22/23 at 6:49 pm to ccomeaux
quote:
Give it 6 months
Every 6 months people seem to come along and say to give it another 6 months.
Posted on 1/22/23 at 6:53 pm to BabyTac
Making more money on fewer vehicles with larger finance charges. This is the new normal.
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