Has anyone bought a new car recently?

[buckmanmike]

Dealers love retail to retail transactions. R28 from your details dealer made max profits.

 

[mark-7mag]

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.

Congratulations and good timing. You may have paid a little more for the new truck than you normally would but you got a lot more for your trade than you normally would.

 

[Robert28]

Dealers love retail to retail transactions. R28 from your details dealer made max profits.

They’re making those on everybody right now. Some are charging over sticker and not giving you anything for it.

 

[Robert28]

Congratulations and good timing. You may have paid a little more for the new truck than you normally would but you got a lot more for your trade than you normally would.

Yeah I think it balanced out. Somehow my insurance went down by $30 a month and my payments went down by $24 a month and a shorter term. And this truck msrp was only $900 less than the truck I traded in when it was new.

 

[sinclair1]

Congratulations and good timing. You may have paid a little more for the new truck than you normally would but you got a lot more for your trade than you normally would.

Mark, I have my hands full with house selling, but I did notice our vehicles are way up. Wife’s is up enough to look into our coverage. Should I look into our coverage to see if it’s covered for a big spike in replacement value?

Any experience with what’s going on between book value and replacement value?

 

[mark-7mag]

Mark, I have my hands full with house selling, but I did notice our vehicles are way up. Wife’s is up enough to look into our coverage. Should I look into our coverage to see if it’s covered for a big spike in replacement value?

Any experience with what’s going on between book value and replacement value?

That's a good question. Typically replacement values change with the market. I've seen it 1st hand recently with a C8 that was totaled and a 1 year old Silverado. Customer with the C8 got more than what he paid for it. Now he has to go on a year and a half waiting list for a new one.

 

[jiminbogart]

I saw an ad from a GMC dealership offering 11k off of MSRP on a new GMC 1500.

Is the truck shortage easing?

 

[mark-7mag]

I saw an ad from a GMC dealership offering 11k off of MSRP on a new GMC 1500.

Is the truck shortage easing?

Not that I’ve seen

 

[Jim Thompson]

Not here or anywhere near me. Altho it's possible someone somewhere is willing to do what they dont need to to do like Robert's deal worked out

 

[snookdoctor]

Traded my 18 Sierra for a 21. 7K off msrp, and they gave me almost what I paid for the 18 in trade.
I lucked in to that, as they are taking deposits for new trucks. The trucks are built, but there is a chip shortage, so the trucks are sitting at the manufacturer waiting to have the chips installed before they can be delivered.

 

[gb1194]

I bought an AT4 back in January of this year. At 8K miles it required what I considered a major engine repair, all the lifters and a couple of pushrods had to be replaced. Having lost all confidence in the truck I sold it back to the dealer for 3K more than I paid for it. They were glad to get it back, needed the inventory. I saw later that they listed it for about 2500 above new sticker price! Have since ordered my new Ford, should be here in October! Market is crazy right now for sure.

 

[nimrod]

I read in car and driver that Ford had recently got chips in. Maybe they found an alternate supplier.

I went to carvanna and kelly blue book sites to see what they would offer for my truck. Was offered well below what they said the trade value was. Trade value is sticker price from when I bought it last year.

 

[Robert28]

I think used car prices have peaked and some are starting to go down (albeit very slowly). There’s still no stock around here, I haven’t seen a new truck on the lot at my local Ford, RAM or GM dealership in 2 months.

 

[Robert28]

I read in car and driver that Ford had recently got chips in. Maybe they found an alternate supplier.

I went to carvanna and kelly blue book sites to see what they would offer for my truck. Was offered well below what they said the trade value was. Trade value is sticker price from when I bought it last year.

Carvanna is full of inventory right now. They’re going to be in a mess when this thing corrects itself and they are sitting on all those cars and trucks they paid top dollar for.

Check with a dealership. They still need inventory badly. The place I bought my F150 from asked me what I needed for my trade. They didn’t shoot me a number first. Never had a dealership do that but they took my offer.

 

[gahunter33]

The market is really challenging right now with inventory shortages pushing prices up. I don't know, maybe you should analyze dealerships out of the state. Might be more difficult to bring it home, but it is what it is.

 

[sinclair1]

The market is really challenging right now with inventory shortages pushing prices up. I don't know, maybe you should analyze dealerships out of the state. Might be more difficult to bring it home, but it is what it is.

Not seeing shortages around here. Prices still up but trucks are on the lots.

 

[Deerhead]

Bought the wife a new car from Akin Ford. Their lot was full. We also got a fare price for the trade in. Could have done better selling it on my own but did not want to full with that process.

 

[gobbleinwoods]

Just drove through Millageville and the car lots were full and bursting at the seams.

 

[Robert28]

I got a text from a dealership today that I shopped 3 years ago. They were begging me to “stop in and look”. I told the woman interest rates are stupid and their prices are more stupid and they needed to start with $10,000 off the sticker before I’d even consider getting out of my chair to come look.

 

[Nicolsontina]

Man, the market is nuts right now with those inventory shortages driving prices through the roof. If you really can't delay getting that truck for work, maybe try casting a wider net to other dealerships or even consider looking out of state.