JALLEN4
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Re: Dealers lots are filling up
Pbutler97 wrote: Grit dog wrote: JALLEN4 wrote: Grit dog wrote: JALLEN4 wrote: In Sept 2019 there were 3.45 million new units in dealer inventories. That is a number that has been over 4 million in the past. At the end of September 2022 dealers had 1.23 million units in stock which would include those ordered sold but not yet delivered or reported sold. One might imagine there is a long way to go before you could consider them plentiful! Love obscure stats from the Googler, like when announcers find weird stats about athletes … “Tom Brady has won 8 out of 10 games on a Monday night with a full moon…” type of thing. All I know is around here, one of the MOST expensive places in the country to buy, well, about anything except seafood maybe, RV lots that were empty for 2 years are chock full, just about every dealer. Car dealers are filling back up. Very quickly and noticeably. And since I happen to be truck shopping, have noticed that in other parts of the country, some trucks (half tons) are being offered at significantly lower than msrp again, and that trend increases by what seems to be weekly. I’m increasingly confident that by the next presidential election, the country’s economy will be sitting approximately at the Rio Grande river! (It will have gone that far south…lol) Unfortunate for some. I can’t wait for it to happen from a personal financial perspective. I am sure you are right. It is much more accurate to ride around in your neighborhood and make your own assessment instead of looking at actual statistics. As a forty year new car dealer now retired, I somewhat know how this deal works and I will stick with actual real numbers! Well, as a car dealer, why would so many dealers be suddenly offering big discounts again if inventory is still only about 1/3 of “normal?” That’s really scary cause it must mean even less than 1/3 of the “ normal “ amount of customers are buying certain types of vehicles? 3 months ago and for a year and a half previous to that, a local Ford dealer was telling everyone anything you wanted was 4-6 months out and with an added across the board $5K "market adjustment". Saturday they had 39 F-150s and 23 Super Duty's on the lot. Not in transit, not pre sold. They even have 15 Broncos lined up all in a row. As a thirty year new vehicle buyer, now working his butt off, I somewhat know how this deal works lol. After buying for thirty years, you might have bought as many as I normally sold a day. But, it is good to know they are giving them away again...just not the ones where I live in Ohio.377Views0likes0CommentsRe: Dealers lots are filling up
Grit dog wrote: JALLEN4 wrote: In Sept 2019 there were 3.45 million new units in dealer inventories. That is a number that has been over 4 million in the past. At the end of September 2022 dealers had 1.23 million units in stock which would include those ordered sold but not yet delivered or reported sold. One might imagine there is a long way to go before you could consider them plentiful! Love obscure stats from the Googler, like when announcers find weird stats about athletes … “Tom Brady has won 8 out of 10 games on a Monday night with a full moon…” type of thing. All I know is around here, one of the MOST expensive places in the country to buy, well, about anything except seafood maybe, RV lots that were empty for 2 years are chock full, just about every dealer. Car dealers are filling back up. Very quickly and noticeably. And since I happen to be truck shopping, have noticed that in other parts of the country, some trucks (half tons) are being offered at significantly lower than msrp again, and that trend increases by what seems to be weekly. I’m increasingly confident that by the next presidential election, the country’s economy will be sitting approximately at the Rio Grande river! (It will have gone that far south…lol) Unfortunate for some. I can’t wait for it to happen from a personal financial perspective. I am sure you are right. It is much more accurate to ride around in your neighborhood and make your own assessment instead of looking at actual statistics. As a forty year new car dealer now retired, I somewhat know how this deal works and I will stick with actual real numbers!428Views0likes0CommentsRe: Dealers lots are filling up
In Sept 2019 there were 3.45 million new units in dealer inventories. That is a number that has been over 4 million in the past. At the end of September 2022 dealers had 1.23 million units in stock which would include those ordered sold but not yet delivered or reported sold. One might imagine there is a long way to go before you could consider them plentiful!428Views0likes0CommentsRe: New vehicle - MSRP?
I am a retired new car dealer. I have sold tens of thousands of cars and trucks. You can do it one of two ways. You can spend hours and hours on-line researching prices, hours in showrooms haggling, and listening to hundreds of amateurs all of whom bought the car or truck much cheaper than you ever will. Or, you can go to Costco and get their list of participating dealers of the make you wish to purchase after you have looked at a variety of them. They will give you a reasonable price that will not be the cheapest in history but will be very competitive. It very much depends on what your time is worth! Remember...many people will always tell you they got a much better price even if the dealer decides to give it to you!617Views0likes0CommentsRe: New truck pricing
garyemunson wrote: I was thinking that exact same thing seeing pictures of rows incomplete vehicles waiting for chips/etc. With the end of the model year approaching and knowing Tesla has over a million preorders for their fast coming Cybertruck (maybe not something us RVers would want but still digging into truck sales overall), it seems like the legacy manufacturers will feel the need to chop prices dramatically to move the backlog once they obtain parts to finish them. I kind of doubt finishing those trucks is only a matter of plugging in a part and shipping them. I would think the vehicle would still need final inspections back on the line and then need to be loaded and shipped. I wouldn't think those trucks would be at dealers until at least September when buyers would be expecting to see 2022s. With GM and Ford teetering, this might be the end of one of them. GM is "teetering"? Nobody knew that. First Quarter earnings crushed expectations, sales volume was up, and projected earnings for the year are up. I think expecting one of those two to fail and expecting the supposed million Tesla truck reservations to become real are certainly fools errands.340Views0likes0CommentsRe: What constitutes a "new" tire?
I'll tell you what doesn't make sense...this ridiculous misinformation that keeps getting spread about tire age on forums. If I still owned a tire store instead of being retired I would love it! At the current rate of travel, people on here will be advocating yearly tire replacements sometime in the near future! The 5-6 year window is a myth to begin with. No less than Michelin, probably the worlds most trusted tire company, says 5-6 years is when tires should have a yearly INSPECTION. They state tires can last ten years but should be inspected for tread separation, bulges, etc annually after five years. The reason tires deteriorate is because of UV exposure and exposure to the elements while in use. Tires stored in a warehouse certainly are not aging at the same rate as tires traveling down the road. Tires stored on a vehicle parked in a garage are not aging at the same rate as those sitting uncovered in a wide open parking lot. Tires fail most often because they have been damaged while in use or because they are run at improper air pressures for their use. There is simply no reason to worry about a few months old new tire being installed as the aging process is no where equivalent to one in use. There are a ton of logistical reasons why tires are not immediate production line to mounting on a vehicle. By the same token there are a ton of reasons tire aging is not linear from the production line to the end of usability. People would be much better served to be concerned about tracking tire air pressures, weight load, and annual inspection instead of these amateur "the sky is falling predictions" you find on forums such as these.749Views0likes0CommentsRe: Sales Hints
A1ARealtorRick wrote: JALLEN4 wrote: A1ARealtorRick wrote: DrewE wrote: A1ARealtorRick wrote: For them to drive it (even with you in the vehicle) make a copy (or picture) of their driver's license and their proof of insurance, because if something happened while your prospective buyer was driving it, you want HIS insurance to be primary, not yours. I'm not an insurance agent, but I think as long as it's your vehicle and the other driver is driving it with your permission, your insurance is going to be primary. I cannot see how photographing an insurance card of the driver's for some other vehicle isn't going to matter one bit in the case of a crash; and as a buyer I'd be very put-off if the seller required me to provide them with a binder for a vehicle I hadn't even committed to purchasing or even made an offer on yet. I haven't read the policy recently, but I think I remember my own car insurance only covers me in another vehicle to the extent that no other policy would be applicable. If I were test driving your RV and you had no insurance, it would appear to cover me in that situation; but if you had insurance, it would not cover whatever your insurance does cover. Nope, his will be. Been there -- done that. Yes, having a copy not only assures you he has both a DL and insurance, but contains information you might need in the unlikely event something happened. Again, been there -- done that. And who said anything about a binder? If you're calling the DL/insurance card thing a binder, you've obviously not test driven anything at a dealership recently. (They won't ask you for an insurance card necessarily, but they WILL ask you to produce a DL, and yes, they'll make a copy of it). Dealerships ask for a license and copy it because they number one want to make sure it is a licensed driver operating their vehicle and as a theft prevention in case it all goes upside down. One would be surprised how often a theft takes place on a "test drive". It does not transfer primary responsibility to the consumer. As a dealer, you cannot void your ownership and potential liability. This is why you buy Garage Owners Liability for a huge yearly premium. When we speak of "Been there...Done that" my opinion comes from four decades of owning/operating multiple new car dealerships, working with attorneys to set demo policies, and purchasing insurance yearly for all of the above. I appreciate your input based on your history in the business. I, too, spent a while in the automobile business ... right at 30 years to be exact (Real Estate overlapping in the final years of it). I managed a multi-line highline dealership for a number of years before starting my own dealership with my son. So, I know how it works. I've worked with attorneys, set policies, bought plenty of (usually overpriced) insurance, and had my share of experiences with customers damaging cars, and even one theft (only one thank goodness). So I'm not speaking off the cuff, but rather as a result of real life experience. We sold the dealership including all the real estate in 2013. Simply Google "primary insurance carrier on dealership test drive". The results are not ambivalent. Or, you can call NADA Legal, if still a member, and they will be happy to address the issue.660Views0likes0CommentsRe: Sales Hints
A1ARealtorRick wrote: DrewE wrote: A1ARealtorRick wrote: For them to drive it (even with you in the vehicle) make a copy (or picture) of their driver's license and their proof of insurance, because if something happened while your prospective buyer was driving it, you want HIS insurance to be primary, not yours. I'm not an insurance agent, but I think as long as it's your vehicle and the other driver is driving it with your permission, your insurance is going to be primary. I cannot see how photographing an insurance card of the driver's for some other vehicle isn't going to matter one bit in the case of a crash; and as a buyer I'd be very put-off if the seller required me to provide them with a binder for a vehicle I hadn't even committed to purchasing or even made an offer on yet. I haven't read the policy recently, but I think I remember my own car insurance only covers me in another vehicle to the extent that no other policy would be applicable. If I were test driving your RV and you had no insurance, it would appear to cover me in that situation; but if you had insurance, it would not cover whatever your insurance does cover. Nope, his will be. Been there -- done that. Yes, having a copy not only assures you he has both a DL and insurance, but contains information you might need in the unlikely event something happened. Again, been there -- done that. And who said anything about a binder? If you're calling the DL/insurance card thing a binder, you've obviously not test driven anything at a dealership recently. (They won't ask you for an insurance card necessarily, but they WILL ask you to produce a DL, and yes, they'll make a copy of it). Dealerships ask for a license and copy it because they number one want to make sure it is a licensed driver operating their vehicle and as a theft prevention in case it all goes upside down. One would be surprised how often a theft takes place on a "test drive". It does not transfer primary responsibility to the consumer. As a dealer, you cannot void your ownership and potential liability. This is why you buy Garage Owners Liability for a huge yearly premium. When we speak of "Been there...Done that" my opinion comes from four decades of owning/operating multiple new car dealerships, working with attorneys to set demo policies, and purchasing insurance yearly for all of the above.660Views0likes0CommentsRe: Sales Hints
rgatijnet1 wrote: A lot depends on if you own your RV free and clear and have the title in hand or if the bank is holding your title because of a loan. If the bank holds the title, check with them to see the procedure that they use. Some banks/States use electronic titles and as soon as the lein is paid, they will release the title ELECTRONICALLY so that you and the buyer can go to the DMV and get a printed title. If the buyer is going to finance the purchase and you also have a loan on the RV, the two banks will have to get together to figure out how they want to deal with things. If you own the RV free and clear and the buyer is paying cash then I found the best way is for them to wire transfer the funds to you before you sign over the title. Depending on the seller's bank, he may have to make arrangements to wire transfer the funds BEFORE he comes to see you. Most banks will not authorize a wire transfer over the phone unless prior arrangements have been made. Once the wire transfer is complete, then you can sign over the title. Naturally you may find a buyer that wants to pay cash. One of my Classic Cars sold for over $50,000 and the buyer insisted on paying cash. No big deal but we had to go to my bank where they counted the money with two tellers and then deposited it in to my cash. My bank knew me and this DID NOT involve any additional paperwork and red flags to the FEDS even tho it was a cash deposit in excess of $10,000. If your bank is not familiar with you, depositing that much cash may be an issue and require additional paperwork. I do not ever recommend accepting a cashier's check. These can be forged and a stop payment can be issued on the check by the buyer. As far as removing you from liability all you have to do is type up a Bill of Sale outlining the entire transaction and when you hand over the title, both of you sign the Bill of Sale and you are out of it, according to my attorney. Using a Notary at your bank insures that each party is who they say they are. In my last sale, the buyer lived in my State and at closing we BOTH went down to the DMV and the title was transferred right there. Since Florida uses electronic titles, he received a new title with his name on it and a new tag as soon as he paid the sales tax and the license fee. Took about 15 minutes and he had a new tag and title and was ready to drive home. Really all it takes is a little common sense but if there is any doubt, go to your bank and get their advice. You want to avoid trying to close a deal on the weekend where your financial institution and the DMV are closed. This could be a red flag if the buyer insists on closing a weekend deal with a cashier's check. If it is a cash deal on the weekend, use your own discretion but he can still sign a Bill of Sale and there are places, like car dealers, that do have a Notary and are open on the weekends. You offer some excellent advice. I would though take exception to your attorney's opinion about potential liability before title transfer but after signing a bill-of-sale. Most attorneys, not in the automotive practice realm, would answer that way and will proceed under that premise in court. As a retired new car dealer, I have been down that road and have seen it played out as well as being warned by our various trade Associations. Be careful and do not rush to cancel coverage on a sold unit for the sake of a couple bucks.661Views0likes0CommentsRe: Sales Hints
The true way to assure valid funds is a wire transfer to your account. Checks of all types can be forged and cash can be counterfeit. Many states are starting to require all real estate transactions through title companies be conducted with wire transfers of funds. There is a questionable period in all transactions where the title has been given to a new owner but not yet transferred. Dealers have the same problem and their insurance takes this period into account. Do not cancel your insurance coverage until you feel confident title has been transferred. A common mistake is for the owner to allow the purchaser to drive the unit home on his tags. NEVER do that! Temporary tags for this purpose are available from the State in every state. Making the actual "closing" in the environment of a bank or credit union is a very wise move. There have been many a mistake and unfortunate happenings with vehicle transactions not conducted in a safe public place with knowledgeable assistance available.104Views0likes0Comments
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