Crazy Used Pricing - any end in sight?

The bigger idiots are buying season tickets to the trailblazers

 

As much as I love Scotty, you gotta admit he’s all over the place with his rants lol. Take his advice with a healthy dose of skepticism hahaha

 

No end in sight and no inventory.
They will not discount them but hold until someone will pay it.
I just paid a little less than 40k for a 21 Taco SR5 4X4 DC with 4400 miles on it.
I traded in a 2021 Tacoma SR DC 2.7 which had some upgrades.
I wanted to buy a TRD SPort 4x4 and found a new one a couple hours away.
I offered them 14k and my paid for 2021 Tacoma SR.
That's 44k k for a vehicle that used to be 38k at the highest.
I got what I needed with the SR5 and it has Toyota NAV and all 2020 and up have apple car play.
Towing package and 4x4.
Better get it now if you mind waiting.
I just held my nose.
-Already upgraded everything but the front struts.
Red calipers, Rancho rear, mud guards, blacked out emblems, LED lights, came with black factory alloys.
Going to do the front struts and with Rancho and more LED and thats about it.

 

^this

 

Haha!! I guess I'm one of those idiots. However, when you don't already have a Tacoma, and you really want one ... sometimes you have to play the game. I didn't want to wait around for price stabilization to kick in. I bought a used low mileage one, figuring it was a "better" deal than paying the $4k mark-up on the 2021 Tacoma sitting at our local dealership. And no regrets. I love this truck.

 

I don't feel bad about it.
I will recover quickly Lord willing.

 

I’m curious if these high prices will seem even more insane in five years when a lot of offerings are electric and gas is more expensive and undesirable as a fuel. Or perhaps the opposite will be the case — gas prices remain low in certain regions and much higher in others, and so ICE v6s will be more desirable to people living in ‘the country.’

 

The thing that gets lost in these conversations is a lot of people made bank from the markets and crypto during COVID. I personally know two people who made six figures just in Dogecoin. $5k “overpaying” is just not a lot of money to a good number of people. Everyone likes to pretend like people are just credit card ballin but I know at least a dozen millionaires who drive Tacomas or 4Runners. It’s like you calling me an idiot for buying a $.50 banana from a Vons instead of a $.19 one from the Mexican grocery store. Yeah you’re technically right but it’s just not enough money to impact my behavior.

 

Wait, yours only have a $4k “market adjustment”?

I’d be pushing $50k for a new TRD OR locally.

 

I am one of the idiots. My Taco is about a month old. I paid a little over MSRP, but I made a killing the past two years and my Chevy Cruze wasn't exactly cutting it. I always wanted a Taco and I was kind off forced into the market (former car had an unfortunate encounter with floodwater) and I was in a position to buy it, so I did. If that makes me an idiot, so be it..lol. However, I look at it this way; l It's just money. When I am dead, it won't help me out, so I will enjoy the fruits of my labor and if someone thinks I am an idiot for doing so, good for them. I could not possibly care less what someone thinks about me.

 

I would guess the latter, but it'll depend on how serious & successful the powers that be are at building/financing/subsidizing a sufficient density of charging stations out in the sticks.

 

Dealers are smoking the good shit...

 

As I was raking leaves today had some time to contemplate the truck pictured, the market, dealer ADM’s etc.
First off - the dealers I dealt with that had huge ADM’s, (Additional Dealer Markups), or have huge markups on preowned, I’ll never go back to, maybe to test drive, but never to do business with, ever - not for service, parts or sales, unless the deal is ‘too good to pass up’ - and the likely hood of that is? Maybe I’m the only one that feels this way, but a dealer that’ll gouge, will gouge any way they can - sales, finance, service etc. if it’s acceptable from the top down, it’s how they ‘do business’. None of us need shop there. Fortunately, I found a local dealership (GMC not Toyota but they own 2 Toyota stores) that treats me right, still makes a bit of money, but one that treats my friends and former customers right too. I do not hesitate to bring them buyers, just brought them a new Tundra buyer a couple weeks ago. Heck, I’ve even bought the sales staff lunch a few weeks ago on a Saturday. My mindset may be different from the 40 plus years I was in the business and 35 plus years managing dealerships. I was in for the long haul, not the short term. I know it sounds harsh, but always have thought, and said, “You can sheer a sheep for life or you can skin them once”.
Another thought was without this ‘crazy market’ - I wouldn’t be driving a new Tacoma. My ‘16 Silverado was worth about 30-32k a year ago, in May sold it to a wholesaler friend that works for Lithia for 40k. That dog’ll hunt. Turned around and bought a GMC Elevation 4X Crew 3.0 Diesel to utilize a $3000 GM certificate I had. Paid 45.4 for it after 8500 in rebates and incentives, then sold it back to the dealer for 50k w less than 200 miles on it. Turned around and bought a ‘21 SR5 DCSB for $100 over invoice (36.4), hated the gray interior and had some remorse about no manual so decided to get what I’d really wanted, a ‘21 OR DCSB 6MT for a squeak over 3k difference. Effectively I traded my ‘16 Chev for the Off Road, and banked about 5k. I owed and owe 0 on the trucks, so it ended up a win. In all cases I was shown invoice, shot straight, and the dealer made some $, got 2 great super low mile trades, and they made some money on those, as well as got trades. I’m not by any means super smart, not a genius, just a car washer who worked hard and worked his way up. There ARE dealers who will deal, there ARE salespeople who are straight shooters, but it’s also up to us to seal square, be straightforward, and if the dealer isn’t trustworthy, or slimy? Just say no and move on. Yes it’s money - but we still work hard for it. With some diligence and work we can connect with dealers who are decent, and in for the long haul. When they do? They’ll not only earn our business but our friends, family and acquaintances too, and we will likely return with all our business. My .02.

 

How about 100 grand for a 22 Bronco Wild Track...

 

I could not agree more. I am so happy with mine and the lack of availability is
oFor just the reasons that you have stated. If they were available for test drives, many purchasers would be shocked at what they are missing.

 

I'm old. In early 1980 I bought my first house. The interest rate on a FHA 30 year loan was 15.5%. Inflation is up currently. Who knows how much the sticker price on a new vehicle will be in 3 or 4 years when things settle down?

 

As a former car salesman, one little trick to get your best deal is shop at the end of the month. Most dealerships compare month to month sales, to them every little bit helps make their numbers look better at the end of the month. As far as mark ups these days, combatting it with Kelly Blue Book, or Truecar helps. Pull your phone out and check out the sites right in front of them. By the end of the month the dealership is wanting to deal. Push for as much as you can get for your trade in, I know it's no fun sitting in the sales cubicle, but the longer you make then sweat, the more the floor manager starts making passes by the desk the better deal you'll get. Getting a higher amount for your trade in is going to save you on sales tax (TN is 7% + County 2.25%). And they need vehicles these days so don't sell your trade short. Supply and demand is totally in play these days.

 

I know it's a Bronco, but jeez!

Dealers really are smoking the good shit!

 

Yes it’s called DOPE Charlie.