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re: I’ve been holding out on buying a vehicle due to rates. Should I keep waiting or buy?
Posted on 8/30/23 at 9:33 am to thunderbird1100
Posted on 8/30/23 at 9:33 am to thunderbird1100
quote:
Vehicle prices have nowhere to go but down IMO over the next 6-12 months. Dealerships are starting to get heavily inventoried and the only way out of that is discounting and moving inventory eventually.
This is happening now, especially with domestics. Stellantis dealers are hurting and Ford trucks are over flowing in Texas.
Toyota seems to be the only one immune, but that is because they still have supply issues. That seems to be coming down now as well. Tundras and 4Runners are well supplied, seems to be their SUVs, vans and cars are in short supply.
1
Posted on 8/30/23 at 12:34 pm to DarthRebel
LINK
This was June's inventory chart of days of supply. Toyota/Honda still pretty constrained but some manufacturers have HUGE supplies sitting on lot. All the American brands basically sans Chevrolet.
I watch a lot of car youtube content and some of these guys visit dealers like Ford where they now have MOUNTAINS of F150s and F150 Lightnings just sitting around now. Some are still delusional asking for markups while others are starting to get it and discount things to move their inventory.
They visited a Mercedes lot and they had probably over a hundred different EVs sitting around unsold and will have to start offering big incentives to move them.
I will say even with Honda supply constrained some still my parents bought a brand new 2023 Honda Pilot Touring in July for $1500 off MSRP through Costco's auto buying program and got the 3.9% for 48 months through Honda. So even with light inventory if you find the right place you can still not have to pay MSRP or over for a brand new redesigned Pilot in that case.
This was June's inventory chart of days of supply. Toyota/Honda still pretty constrained but some manufacturers have HUGE supplies sitting on lot. All the American brands basically sans Chevrolet.
I watch a lot of car youtube content and some of these guys visit dealers like Ford where they now have MOUNTAINS of F150s and F150 Lightnings just sitting around now. Some are still delusional asking for markups while others are starting to get it and discount things to move their inventory.
They visited a Mercedes lot and they had probably over a hundred different EVs sitting around unsold and will have to start offering big incentives to move them.
I will say even with Honda supply constrained some still my parents bought a brand new 2023 Honda Pilot Touring in July for $1500 off MSRP through Costco's auto buying program and got the 3.9% for 48 months through Honda. So even with light inventory if you find the right place you can still not have to pay MSRP or over for a brand new redesigned Pilot in that case.
This post was edited on 8/30/23 at 12:39 pm
Posted on 8/30/23 at 10:17 pm to tigeralum06
Considering the flip side of what you are about to buy, you aren’t getting ahead
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