Dealers lots are filling up

[Pbutler97]

Dealers lots around Ohio/western PA are filling up with certain models. Not many heavy duty trucks but I'm seeing a few Chevy and GMC 2500's sit for weeks before being sold and a lot in the pipeline. 1/2 tons are everywhere. Monitoring black book trade and used retail values, they're dropping like a stone. The Dealers I have recently talked to are holding at MSRP on new with one willing to go below MSRP on a 2500 that has been sitting for over 6 weeks. Expect them all to have to start dealing again. Sales are down and dropping. No wonder if you've seen the prices at the grocery store recently and follow the number of companies announcing layoffs or hiring freezes.

[4x4ord]

shelbyfv wrote:
Yep. Not much worse "investment" than an auto, unless it's an RV or boat.

Most of us wouldn't call purchasing an auto an investment although the last few years owning a new truck has paid a pretty good return.

[blt2ski]

Some of us bought our first home a year out of college for $60,000. That home is now appraised at 10 times the amount. It's still a blinken 750 sq ft 3 bed, 1 bath, car garage home starter home around here.

Marty

[shelbyfv]

Yep. Not much worse "investment" than an auto, unless it's an RV or boat.

[Pbutler97]

shelbyfv wrote:
:)There are a few advantages to being old. Seriously, what happened to 36 months and buying within our means?

I personally don't have a problem with 60 or 72 at some ridiculously low rate like 0% or even 1.9%. Look at it like an unlimited mileage lease that you don't have to give it back or come up with a payoff at the end. Not into laying out that much coin on the front end for a fast depreciating item when I can use someone else's money on the cheap.

Having second thoughts though about ordering a 24 2500 though, not paying 4.69%. Thats not happening. There is a big difference between able to afford and wanting to afford.

[shelbyfv]

:)There are a few advantages to being old. Seriously, what happened to 36 months and buying within our means?

[Pbutler97]

shelbyfv wrote:
72 months/6 years!!! For a car??? :S

Must be nice to have $60-70K laying around to pay cash for a new truck lol.

IMO that would be kinda stupid anyway.

Now a $20K Kia or something is a different story lol.

[shelbyfv]

72 months/6 years!!! For a car??? :S

[Pbutler97]

FishOnOne wrote:
Next thing GM will be offering 0% financing before you know it which leads me to say; hopefully GM can stay out of that infamous special meeting with Congress.

There it is ROFLMAO......

FYI they're doing 4.69% for 72 for the "very well qualified" or 3.9% for 72 if ya want a 1500 with 2.7 turbo high output engine.

[FishOnOne]

Next thing GM will be offering 0% financing before you know it which leads me to say; hopefully GM can stay out of that infamous special meeting with Congress.

[Grit_dog]

mkirsch wrote:
Yup, this whole "collusion" is a tenuous, temporary cease-fire at best. Sooner or later someone will blink, then everyone will blink, and it will be back to the way it was, or worse/better (depending on which side of the argument you're on).

Bingo. Spot on Mr. Kirsch.

[mkirsch]

Yup, this whole "collusion" is a tenuous, temporary cease-fire at best. Sooner or later someone will blink, then everyone will blink, and it will be back to the way it was, or worse/better (depending on which side of the argument you're on).

[Pbutler97]

shelbyfv wrote:
Quick article with opinions from Edmunds and Cox Automotive. auto market Mostly nothing new but it was mentioned that dealers are overstocked with used vehicles priced above $35K.

That's a good article, from it:

"Some manufacturers, like Ford and Honda, have noticed customers’ willingness to deal with low inventories, higher prices, and longer wait times to get their vehicles. Executives from those companies have said they don’t plan to ever go back the days when dealer lots were filled with cars and SUVs waiting to be sold."

That should work out well, until some other manufacturers pack their lots and offer lower prices, then it won't LOL. That day is coming sooner rather than later.

I've looked at a few new trucks in the last 2 months or so and the sales guys are texting and calling me almost daily, that speaks volumes as for the last year and a half when I stopped at dealers I didn't hear from anyone afterwards, crickets.

[Grit_dog]

camperdave wrote:
Guess we'll see huh? I'm not in the market for a truck, but if I was I'd wait.

Smart man here.

[camperdave]

Guess we'll see huh? I'm not in the market for a truck, but if I was I'd wait.

[time2roll]

nickthehunter wrote:
The dealer doesn’t need a memo, he is the first to know what is selling and what it’s selling for. If he still has a huge markup, maybe he knows something you don’t know (rather then you knowing something he doesn’t know).

As long as the individual customer agrees to pay, the dealer will continue to take it.
Next comes in and says not paying that and might be OK and the ADM can be reduced. Still going to leave the markup listed on the rest. Customers seem to love this, or maybe the just the dealer.