Wow the dealerships are desperate.

What’s wrong with that proposal ?

 

I would have told him I paid 42K for it but since he is a friend I will sell it to you for 40K.....

 

Assuming in 12 months the prices will drop in half.
That's a pretty big drop.

$1.00 says it ain't gonna happen.
$2.00 says prices will be about the same this time next year... ( within a 5% swing )

A bird in the hand...
or to put it another way ...
A Tacoma in the driveway...

 

flattering

yet

the ‘ new ‘ taco has an inflated price

dealers are Not as desperate as Customers

delaers ALWAYS make $$$

wheres the deal ................................

 

Check this stupid stuff out

 

Considering current Used pricing is 110-130% of new it isn’t unreasonable to assume that a 3 year Tacoma would be worth 70% of its original msrp. As per all of eternity minus the one year of production issues.

 

I don't buy used cars anyway as most have issues. I've always said used cars are like used underwear. Sure you can wash them out and parade them around, but do you really want to?

KBB says my 2017 Tacoma is still worth several thousand more than I paid. I don't know about that, but I'm hanging on to it for now. I might look for something new at the tail end of 2022 or sometime in 2023 if the economy is better and inventory improves or I may just keep this one for the long haul.

 

I'd give it another year or so before we start to see inventory levels resume. I think economic growth has slowed, but inflation obviously hasn't and probably will remain elevated for a while. I suspect the Federal Reserve will consider raising interest rates in December to help curb inflation. Also, the national debt ceiling is up for debate in December and likely to be raised again at that time.

The beginning of next year and middle of next year will be a good indication of where the market is and where it's headed.

I'm not making any large purchases that I don't have to for a while though.

 

Economic growth has taken a hit around the globe. I wonder how other countries are faring. Probably not much better, most likely much worse.

If we can keep this pandemic in check over the next few months, ( holiday gatherings etc ) I suspect there will be an economic explosion come spring.

Fingers gingerly crossed.

 

I don’t think anyone can predict what will happen in the next 18 months.

 

Any dealer that sends salespersons to the service department to make sales is working a conveyor belt that you do not want to ride on!

 

I just read that Americans carry 1.7 trillion in automotive debt. WOW !!!!!

 

I've gone in to buy and told them I would be financing... and they start to drool they are so anxious to get me obligated to pay interest.

They'll make me a swingin' deal that cuts the MSRP price of the vehicle substantially. Then I pay off the loan in cash after walking out the door. They make nothing on the loan and I get the good deal.

But even then you have to beware of loans. Sometimes they have a clause that adds a years interest as soon as you sign. Be sure there are no automatic hidden costs and it is straight monthly interest.

 

Actually the dealer does make something on each loan they sell (look at it as a "finders fee"). If there was no incentive from their lending partners for dealers to sell these loans, they probably would not do it. You have to remember that the dealer is not lending you money, some bank is.

 

I did a similar thing. Along with that strategy, read the loan agreement. In Florida they are allowed to charge an early-payoff penalty if you pay off the loan within 6 months. So I made egregiously large payment amounts over the minimum, and at 6 months and 1 day paid it off. Total interest was minimal.

Check your state's rules, and definitely read the loan agreement. They make you wait forever inside that dealership, then rush you through signing. Tell them you need a break, get a glass of water. Take your time (For buy, waste time!). They need you to purchase more than you need to buy. Always remember that.

 

That's a great point about taking your time. Most people complain about how little money they make per hour, and yet they will rush through a purchase as though if they don't get it done NOW they will be missing out on something. And the dealerships encourage them to rush.

It is a fact that negotiating a car deal will probably result in more dollars per hour than any job you will ever have going into your pocket.

 

This explanation paints a more vivid picture than generating $20k for 12 months of beater driving.... BUT It'll help me decide whether I should keep my truck if I had a clearer picture of what the 2x in 2022 partner will look like. Assistance is appreciated.

 

You're probably right. I paid $36 for a '19. Recently totaled, insurance paid out $44k.

 

^^^^ this

the dealer won't do ANYTHING that doesn't make them money. Nothing is there to help you or out of the goodness of their heart.

 

imo it works both ways for the lender and the dealership as many people don't have that type of cash laying around