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Kind of an update - we bought my Mrs. a new Camry this past weekend as well. Multiple dealers/quotes and none of them were willing to move much. We did OK, got a bit more off than I think we would have in "normal" times, even with normal inventory, but not nearly as good as with my Jeep (but I expected that too, given the brand). A number of the Toyota dealers around here are short on inventory compared to normal, especially if you want something other than the base model with no options, which wasn't going to work for us.
I think one of two things are going to happen. Either there's going to be a case where production outpaces demand, or the car dealers are going to get smart this time around and keep production lower to make sure they're selling every car they make without having to leave too much money on the hood.
My Lexus lease is up in 2 months and my plan is to buy it out as my residual is about 4K under market value. I can get 2.75% at my local credit union, but now with 0% deals out there, I may shop around online to see what kind of deals there are to be had.
My Mazda's lease is up in two months. I already extended it just to be on the safe side. I want to see if the residual falls. My SIL just leased a Dodge Durango today. She feels like she got a pretty good deal, so more power to her. She said the dealership was empty.
Entire situation is so unfortunate with millions and millions of people unemployed; the worst since the Great Depression.
Thanks. Thankfully the mortgage company has let us slide but my hub did pay up until June and this month so I have to contact the bank again today, hoping to get thru. The last few days there have been long wait times. I'm going to see if I can do it online once my grand daughter gets off to day care.
He took a temporary job with Sam's club which he enjoys but I believe he's lost the unemployment due to it. He's 63 and not the type to sit around.
He makes sure he goes to the truck to start it, hoping to be called back to work soon.
Quote:
Originally Posted by ReblTeen84
Kind of an update - we bought my Mrs. a new Camry this past weekend as well. Multiple dealers/quotes and none of them were willing to move much. We did OK, got a bit more off than I think we would have in "normal" times, even with normal inventory, but not nearly as good as with my Jeep (but I expected that too, given the brand). A number of the Toyota dealers around here are short on inventory compared to normal, especially if you want something other than the base model with no options, which wasn't going to work for us.
I think one of two things are going to happen. Either there's going to be a case where production outpaces demand, or the car dealers are going to get smart this time around and keep production lower to make sure they're selling every car they make without having to leave too much money on the hood.
The dealers commit to selling a certain amount of cars from what I understand.
Some cars haven't been produced for months, so there will at some point be shortages. Then when they start shipping again, hopefully it will even out unless some of those cars are already sold.
Thanks. Thankfully the mortgage company has let us slide but my hub did pay up until June and this month so I have to contact the bank again today, hoping to get thru. The last few days there have been long wait times. I'm going to see if I can do it online once my grand daughter gets off to day care.
He took a temporary job with Sam's club which he enjoys but I believe he's lost the unemployment due to it. He's 63 and not the type to sit around.
He makes sure he goes to the truck to start it, hoping to be called back to work soon.
The dealers commit to selling a certain amount of cars from what I understand.
Some cars haven't been produced for months, so there will at some point be shortages. Then when they start shipping again, hopefully it will even out unless some of those cars are already sold.
They can’t sell what they dont have regardless if they received payment. We were gonna buy a car this year but now we’re gonna hold off. Wife’s car still runs fine so changing it doesn’t make sense now.
They can’t sell what they dont have regardless if they received payment. We were gonna buy a car this year but now we’re gonna hold off. Wife’s car still runs fine so changing it doesn’t make sense now.
Depends on where the car is. If it hasn't been produced yet, yeah, you definitely can't sell it, unless the dealer has a waiting list for a certain car and it's first come first serve. I wouldn't think there are a whole lot of models worth that though.
The Jeep I just "bought" is in transit from the plant. I've already put a deposit on it and it's been marked as sold. So it's not on the dealer lot yet, but the dealer has already sold the vehicle. Depending on the person and the car model, that's what I would expect to happen in the coming months for people that really want cars - they'll buy them before they even hit the lot and just pick it up when the carrier delivers it. The average person who actually goes to a dealer to kick the tires will never have a chance at it.
Depends on where the car is. If it hasn't been produced yet, yeah, you definitely can't sell it, unless the dealer has a waiting list for a certain car and it's first come first serve. I wouldn't think there are a whole lot of models worth that though.
The Jeep I just "bought" is in transit from the plant. I've already put a deposit on it and it's been marked as sold. So it's not on the dealer lot yet, but the dealer has already sold the vehicle. Depending on the person and the car model, that's what I would expect to happen in the coming months for people that really want cars - they'll buy them before they even hit the lot and just pick it up when the carrier delivers it. The average person who actually goes to a dealer to kick the tires will never have a chance at it.
As I will tease the salespeople I train "a car is not "sold" until it's paid for. I teach them to use 2 phrases: Hold and Sold. We put trucks on hold for customers and then when we actually get the money it's sold, and at that time we remove the web postings on that particular vehicle, etc.
Truthfully, though, once the car is "gate released" from the plant and handed to the transporter the MCO is generated and sent to the dealer. In most states, once the dealer has the MCO a car can be sold/titled no matter where the car physically is. (Registration is a different animal. Depending on the state sometimes physical inspections have do be done before you can register the vehicle, but you can normally title the vehicle with only the MCO.)
Depends on where the car is. If it hasn't been produced yet, yeah, you definitely can't sell it, unless the dealer has a waiting list for a certain car and it's first come first serve. I wouldn't think there are a whole lot of models worth that though.
The Jeep I just "bought" is in transit from the plant. I've already put a deposit on it and it's been marked as sold. So it's not on the dealer lot yet, but the dealer has already sold the vehicle. Depending on the person and the car model, that's what I would expect to happen in the coming months for people that really want cars - they'll buy them before they even hit the lot and just pick it up when the carrier delivers it. The average person who actually goes to a dealer to kick the tires will never have a chance at it.
You bought something they had and was on the way. They may not physically have it in the lot but it’s on a train or storage lot or it’s a dealer swap etc it’s just coming to you.
I’m talking when I say don't have it as in we don’t have that model with those options can’t get it it’s not being made and no dealer wants to dealer exchange it. I think dealers now want to hold their inventory so they can make a sale and get top,dollar. Manufacturers might/are going to have a hard time getting the needed parts in some cases which may partially or fully stop production.
As time goes on and the replenishing of the vehicle stock becomes harder you’re gonna have to buy a car that may not have all the options you want, settle for a lower optioned or different brand altogether Or go to the used market for a slightly used model.
I’m simply holding off because I don’t need a car at this time, so there is absolutely no reason for me to spend money in getting one. And as dealers aren’t making deals now why would I pay top dollar if I don’t need to do it as a purchase isn’t paramount for us.
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