New vehicle - MSRP?
OK guys - just want to know what to expect with prices - we've never (I mean never) bought a brand new vehicle, so want to get ideas on how it works. As we're getting older we are thinking of buyin...
Forum Discussion
RetiredRealtorRick wrote:
The "because we can" attitude might work just fine if they're dealing strictly with cash buyers, but think about it -- no bank or CU is going to finance a new vehicle for substantially over MSRP. The buyer is instantly in the bucket (or, a negative equity situation). The lender doesn't want to chance having to repo a vehicle that has a balance owed of substantially greater than it's worth.
Yet, they are handing out car loans like candy and everything is selling at over MSRP.
Right now the value of ALL vehicles is inflated above "retail" so at least in the short term an auto loan is no more of a risk than it would be during normal times.
