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Something is obviously going on. The last vehicle I bought was my caddy in 2013 from a smaller dealership in PA. I sent him an email and said I will give you YYY price and we reached an agreement before I even drove over.Yup. Easy financing. Want a Harley? Want a camper? Want a new vehicle? Have bad credit? We'll get you financed!
Auto makers are hurting. One of the largest purchasers of their vehicles is the rental car companies. Guess what? They are going bankrupt right now. The used car market counts on buying the used rental fleet. Used market seems pretty strong right now. Guess what? That means the new car market isn't moving squat. They are financing everyone and selling at close to cost. Rebates out the wazzoo. Just over cost for sales price. Wait until the influx of repo vehicles start hitting the used market. Wait until the corporate debt of the manufacturers comes due in the next couple years. Hang onto your cash fellas. Going to be some deals to buy.
The dealerships I've dealt with this past week are your larger ford, Chevy affiliated dealerships. Some of their used vehicles are priced 1k over dealer invoice, then they try to tell me how awesome of a deal they got me by going down 1k. Lol.
I was looking at two vehicles, same make, model and options packages. Original msrp was within 300 bucks of eachother, current milage was only 2k diference. One was a 2015 the other a 16. They were priced identical and both priced high. One was an entire year older than the other.
Had one guy who had a vehicle since February and had put 2k miles on it loaning it out as a service vehicle. Wouldn't budge from the listing price. Said he listed it at market rate and he does a 500 mile search. Blah blah. I reminded him that was 3.5 months and 2,000 miles ago, but he's welcome to keep it for another 3.5 months and put another 2k on it if that's the price.
One thing I'm seeing that I haven't before on the reputable brand affiliated lots is auction cars. You can usually tell because they were previously titled in other states, repossessed, or have an accident on the carfax. Rarely would you ever see a newer vehicle like a 2015 or 2016 with an accident on record on a reputable dealers lot. They always let the buy here pay here lots buy those at auction. Not anymore.
I'll keep looking but I think I may stick to my old tried and true method. Late November car shopping. Nothing is moving, tax man's coming, not making monthly sales numbers, and kids need Christmas presents, makes for motivated dealerships.