Are the dealers selling to themselves??

All going to end soon if intrest keeps going up.

 

Lightning and EV sales only was my understanding following the Tesla loophole. But I am not well informed or nuanced in the laws, so talking out of my rear end.

All I know is $10,000-$25,000 ADM being "normal" for Raptors and TRD Pro's is beyond stupid.

 

That wont happen, Ford cant pull sales from dealers that paid millions of dollars to become a Ford dealer. Were also a Ford dealer, that isnt in their plan

 

Understood, is your dealer going to buy into their exclusive "Ford Certified" EV dealer? That's definitely been the public plan they are pushing forward.
https://techcrunch.com/2022/09/14/f...wHo12omlha65CIT_AiYnCCtgtXfMq465GChlX0RyxiF17

 

I don’t understand the whole interest rate stuff. I know it’s gone up but car dealers and credit unions, like the one I have, are offering very low interest rates. My CU offered me 1.9 on a used car.

 

I think if your credit scores are good you will be fine but most have crap credit shuts them out of buying

 

they buy it either for test drive or personal use, and after a few thousand miles they sell it as used for more

 

The problem is that they are not waiting or making a hard effort to sell or contact anyone on the list to see if they may be interested… and if you watch this particular dealer it happens on the last day of the month,if they can’t sell new, off to the used lot.

 

A logic I don’t understand. They can’t sell them new for msrp so they try to sell them used above msrp. The dealers have been selling at msrp or above and people have become tired of it. Some manuf are actually starting to give discounts and good finance terms. I know all manuf are down in sales that’s for sure.

 

I'm in the Boise area and can confirm this as well. Edmark is playing all types of games.

Steve's Hometown in Ontario is shady too. I saw a truck on their website I liked so I called to see if it was still available and it was. I asked for the spec sheet and I would call them back with my decision. When I called back the salesman conveniently forgot to tell me about their markup and I laughed and told him nevermind.

Luckily I know someone at Peterson and they are going to sell it to me at MSRP.

 

Most credit unions are loaning your money (deposits, CDs, things like that) ...these other banks are borrowing regularly from the FED. The government is raising rates quite often right now to "tame inflation" but its actually just pushing us further into this recession. As far as the special APRs from places like Toyota Financial, Chrysler Capital, Nissan Motor Acceptance, etc...those rates are subsidized by the manufacturer. Thats why you typically dont get a rebate (when those were a thing) plus the special finance rate combined.

 

At least we agree on something.

 

Unless something changed, McGeorge is one of the three MSRP dealers in Richmond I know of. I would assume the price on their website is valid which does not look like they are upcharging. But I can see the strategy, especially if allocations are based on sales. They may prefer the old way in which people actually can walk around the lot and have somewhat of a choice.

 

Anyone buying one of these "USED" Tundra's that they will lose the lemon law and buy-back option. They are only good for the first owner.

 

Its been happening here in Minnesota as well. Certain dealers with used trucks with 1000 miles super high mark ups. In some cases I know its dealers selling to themselves, others I was told are trucks that had an issue in the beginning the dealer bought the truck back put the buyer in another now have fixed the unit and are reselling at the high mark up, third is people like me I wanted my truck so I kept it but I have other vehicles don't have to have it, I could have traded my MSRP tundra to a certain local dealer for a profit. One thing is for sure its not just Toyota.

Until this market all went to hell I had a dealers License in Minnesota for the sole purpose of helping broker deals for people mainly on leases as a side hustle, which gave me a decent amount of contact with Minnesota dealers and salesman. I still stay in touch with them, and I will tell you what this shortage has really separated the quality dealers from the bad ones.

 

I think eventually all car sales will go this way. Today's consumers are far more informed than they used to be. I can safely say I knew wayyyy more about the truck than my sales guy did when I went in to make my deposit payment

 

You are correct, they sell at MSRP. One of those trucks was offered to me, but it wasn’t a color I was interested in. But they did not let it sit on the lot any amount of time.

 

Stopped by one of the local dealerships today to see what they would give me for my truck. They have over 8 "used" tundras on the lot for way over retail, including a handful of pros for over $90k. Asked to talk to the used car manager and the front desk guy gave me an offer at auction price. I laughed, said this truck is way built compared to what they have on the lot and wanted to talk with the buyer. Told them based off lot prices, we could start talking at $80k.... guy wouldnt even come out and talk with me. Apparently they need to flip $20k profit minimum on used tundras to even entertain buying them.

 

It all going to come to an end and all the dealers will be scrapping for business, look around at your local Walmart and Target and see how much inventory they have now compared to last year… same goes for Lowes and Home Depot… not to mention the low foot traffic at the stores in comparison to the last few years… hell is coming for all of them….

 

Three dealers in the Houston area do not do that,, because they mark them up to 20K or more over MSRP and sell them quickly. Every pro I have seen (4) has sold for over 100K or right at plus TTL!!! It is insane!!!

 

That’s insane. Who the hell thinks that a Pro is worth 100k?

 

Unfortunately way too many people.

 

They must have money to burn

 

And there in lies the mindset of inflation. It’s not the rates going up, it’s people continuing to buy at higher prices.

 

So are the dealerships registering the "New" trucks in their name or putting excessive miles on the "New" truck?

 

#termlimits

 

One of the problems with inflation is that people lose their sense of value.

 

We just bought a '22 4Runner with a 1.5% APR

 

pretty sure employees are buying them, driving then selling to the dealership.

 

Peterson is doing similar, unless you want to wait in line. I needed a new truck and bought my "used" 2022 off their lot with less than 50 miles for a hefty markup over MSRP. The truck had never been registered to an individual and was purchased from another dealer in Oregon.