GONoob
Senior Member
I'm down!
Welcome Guest!
Has anyone bought a new car recently?
- Thread starter GONoob
- Start date
GONoob
Senior Member
Good thing I got the extended warranty lol. GM wasn't my first choice but still super happy with it.
Jim Thompson
Live From The Tree
Yep, if a fella had the cabbage he should buy everything they are willing to sell like that and make 8-12k per truck on the open market.
Jim Thompson
Live From The Tree
Heckuva afternoon..fishing and buying! Good job man. Also, remember that young man you worked with. If he decides to make a career out of it he will appreciate you in the future.
Rivard is currently 12 in the country with GMC and #1 in FL. Laura in western IL and Everett in AR and 1 and 2 country month in and month out. Both Laura a bunch showing and Everett has none new and they are all selling at MSRP or close. (I mistyped this earlier)
Doesnt make good business sense for anyone to sell anything with 7+k dealer discounts when folks will gladly buy them at 7+k more than that. Gotta be something regional happening around them to cause them to want to leave that much money on the table.
BUT it's there business to do with what they want. No different than having a neighborhood slap full of 200,000 houses with a 10 day market turn and a neighbor deciding to sell one for 160,000. Doesnt make sense and it doesnt help the rest of the community, but it's theirs to do with what they will.
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GONoob
Senior Member
I gave him that 2k finders fee I was offering here
He just had twin girls(3 total at 28 years old) and I'm sure he could use the extra bonus!Where do you find info on a dealerships volume?
Jim Thompson
Live From The Tree
I gave him that 2k finders fee I was offering here
Where do you find info on a dealerships volume?
Probably not published anywhere publicly. I can get the top numbers for the GM side, but wouldn't know where to get them for a Honda store or Jeep etc.
Yeah 2k will make his day since at that price it's a mini deal for him...probably $150-$250.
Jim Thompson
Live From The Tree
Let's play how crazy the market is yet again...
My personal truck is a 2020 GMC Sierra SLT Crew Half ton. MSRP last April was 58,900. I got my employee price and whatever the rebates were back then. I lease all my vehicles and this time the best for the situation was a 24 month lease. Will be up next April. It has 14,000 miles on it.
We as a company bought my truck from me today, bought my lease out. We appraised it at 54,000 real money. We sold it a few hours later for 57,900. We also took in a nice clean 2011 crew cab 1500 with 130k that we gave 15,000 for and will end up selling for about 18500.
My lease payoff (residual) is 44,000 so my office is writing me a check for 10k as my personal profit.
Sounds like we are making hand over fist huh? Well it's a sellers market right now and all retail is doing pretty well. Course it ain't nearly as pretty most of the time. Also the horror stories like having to lose 14,000 on an Audi S6 because of a bad trans or a Ford 6.0 check engine light coming on
Now I gotta ride the side x side to work cause we don't have any freaking trucks to replace the one I had
My personal truck is a 2020 GMC Sierra SLT Crew Half ton. MSRP last April was 58,900. I got my employee price and whatever the rebates were back then. I lease all my vehicles and this time the best for the situation was a 24 month lease. Will be up next April. It has 14,000 miles on it.
We as a company bought my truck from me today, bought my lease out. We appraised it at 54,000 real money. We sold it a few hours later for 57,900. We also took in a nice clean 2011 crew cab 1500 with 130k that we gave 15,000 for and will end up selling for about 18500.
My lease payoff (residual) is 44,000 so my office is writing me a check for 10k as my personal profit.
Sounds like we are making hand over fist huh? Well it's a sellers market right now and all retail is doing pretty well. Course it ain't nearly as pretty most of the time. Also the horror stories like having to lose 14,000 on an Audi S6 because of a bad trans or a Ford 6.0 check engine light coming on
Now I gotta ride the side x side to work cause we don't have any freaking trucks to replace the one I had
Robert28
Senior Member
When I traded my 2018 Z71 in, I got $1000 more than I paid for it. Could I have squeezed out more? Maybe. But when am I ever going to get all my money back AND make $1000 profit? Most likely never again.
Funny thing happened too, when I was there picking up my new F150 my salesman was going over the truck with me, guy pulls up and gets out of a car with a girl. Salesman said “that’s the guy who’s buying your truck. The pics I asked you to send me, I forwarded to him and he said he wanted it and to let him know when I came to drop it off and pick up my new one”. Truck never saw the lot. They flipped it for probably $5000-$7000 but I didn’t care. I was happy, salesman was happy he sold two trucks in a day without breaking a sweat and the guy buying my truck was happy. Weird times for sure.
Jim Thompson
Live From The Tree
That's the way a transaction should work out. All parties happy as hades. The folks that want the seller to lose or the buyer to lose or the next buyer to lose make no sense to me. All parties happy is a good thing no matter the money made
Robert28
Senior Member
The thing I appreciated was I was able to do 90% of the deal over the phone. As a customer that was very important to me and I know salesman don’t like to do it because of a lot of tire kickers. He probably had his doubts about me too in the beginning. I didn’t ask for price, I just called to make sure the truck was still there. He confirmed and sent me a walk around video right away, I called back and said yep that’s exactly what I want. Then he said ok send me a copy of your license, insurance and registration and fill out a credit app on our page after we agreed on otd price. I was already pre-qualified through my bank (Navy Fed) and he said he’d go with that since I requested it. Next day all I had to do was come in, confirm the numbers were what we agreed to, he showed me the truck and we drove it, went into the FI office and signed the papers, and I was honestly done in exactly 1 hour. He even made a comment “your credit is great and youre very easy to work with, that doesn’t always happen”?
Jim Thompson
Live From The Tree
Sounds like a very transparent and fair transaction. Again that's the way it should work. Sounds like you ran across a professional and he ran across a buyer and neither of you were unrealistic.
I like it!
nimrod
Senior Member
My question for @Jim Thompson or anyone else in the car business. If I wanted to take advantage of these insane used truck prices and sell should I pull the trigger now? Are these prices going to be stable for a few more months? Would I be better off selling to a carvanna, vroom etc. or to a dealership?
WishboneW
Senior Member
Get a couple offers from automotive retailers who have seen your truck then look at what retailers are selling for. Price yours in between and sell to an individual
I'm hoping, praying, and knocking on lots of wood that I don't have to go buy a new vehicle any time soon. Our's are both paid for. My truck is a 2003 Nissan Frontier, wife's is a 2013 Nissan Murano. No loyalty to Nissan overall, just found good deals on both last time we had to car shop.
I really don't want to have to go pay through the nose right now for one. If one died or got wrecked, I'd be more likely to go find the cheapest thing I could with a running motor and four wheels turning and try to ride out this period as cheap as I could, then buy something nicer when this current price spike drops.
I really don't want to have to go pay through the nose right now for one. If one died or got wrecked, I'd be more likely to go find the cheapest thing I could with a running motor and four wheels turning and try to ride out this period as cheap as I could, then buy something nicer when this current price spike drops.
mark-7mag
Useless Billy Director of transpotation
I would check with a couple dealers along with Carmax and Carvanna. Since you would just be selling it you don't have to worry about losing the tax savings. It also depends on what you have .
Jim Thompson
Live From The Tree
What the others said. I would definitely shop it to a local dealer or 2 before messing with vroom or carvana. Nothing wrong with those 2 as buyers, but they may not want a truck as bad as a dealer.
Pulling the trigger to sell is a very good plan right now, but remember it will be difficult to replace it (if you need to) and you'll pay a premium for the new one as well.
notnksnemor
The Great and Powerful Oz
I'll hang on to my '04 Ram 2500 Cummins.
234,000 miles and it's stronger than most new ones on the road.
234,000 miles and it's stronger than most new ones on the road.
Robert28
Senior Member
Here was my thinking on the current situation. I’d been keeping up with prices Carvanna and Vroom and others were offering. I watched my truck steadily climb in value every week. I also kept searching around online for F-150’s equipped like I wanted, but the problem is most I wanted were out of state and I wasn’t too keen on taking a chance in this climate having to drive hours only to find the truck was sold. I don’t like doing deposits over the phone because I had a bad experience with that once and had to fight tooth and nail to get my $500 back. Lesson learned.
So, coincidently a dealer about an hour from me got in 4 brand new F150’s and two were equipped like I wanted, in fact one was equipped EXACTLY how I wanted and all it was missing was one option but wasn’t a deal breaker. I typed in my current trucks value on Carvana and it had plummeted $2500. I called the dealership to confirm the truck I wanted was still there, it was. He even sent me a video to confirm it, so I said I want it. He asked me what I needed for my truck and I threw out the highest offer I’d gotten and he called me back and said he’d do that. So I sent all my info to him and told him I’d be there tomorrow to get it. He knew I was serious once I filled out the credit app online and sent all my info in along with pics of my truck, he didn’t ask for a deposit (thankfully). Now, Ford currently has a $1500 rebate for trading in a vehicle and yeah I had to pay msrp. Plus they’d added a few dealer installed options (Ford bed liner, wheel locks, window tint, door guards). Overpriced stuff but it was stuff I wanted anyways, none of that scotchguard interior mess they try to sell you. All in all I was happy with the deal and knew I had to act now because I was afraid my trade would lose more value, it was a gamble to “sell now” on my part but I ended up with the truck I wanted and I was eventually going back to Ford anyways so might as well do it now.
Oh and the trucks they got in? All are sold but one now. And mine was built last month so it wasn’t sitting in a field for weeks/months waiting on parts. I liked that.
Jim Thompson
Live From The Tree
Sounds like a win win for everyone. Congrats on the new truck!
Robert28
Senior Member
Thanks! I honestly wasn’t planning on buying a new truck this year, but with the way everything is going I honestly don’t know if shortages are going to get any better in the near future. I also figured with my trade in at its peak, I most likely wasn’t going to get anymore and would most likely lose value. I didn’t want to just run out and buy though, I just happen to get lucky that the almost exact F150 I wanted happen to show up close by and it was just meant to be. Funny thing about the shortage, I’m having to buy a brand new refrigerator as mine quit yesterday and the pickings are slim!
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