Who is buying vehicles?

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Oct 8, 2006
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I figured with the lock down in place, and millions of people out of work, I thought I'd see the bottom drop out on vehicle prices, but it hasn't. What is keeping prices up?
 
I think they are sitting and waiting figuring it out. Do you slash price as you are losing money ?

The only reaction on new car is 72 month 0% financing with delays in first payment.

Infinity and Mitsubishi are goners once dust settles in USA. Expect fire sale with them.
 
Originally Posted by madRiver
I think they are sitting and waiting figuring it out. Do you slash price as you are losing money ?

The only reaction on new car is 72 month 0% financing with delays in first payment.

Infinity and Mitsubishi are goners once dust settles in USA. Expect fire sale with them.

How about 84 months. No interest. You take that deal and you will be so upside down!
 
I'm trying to decided now . Either a new Chevy Equinox 2020 2.0T or a Ford Escape 2.0T I've been a GM guy all my life . I like them both.
 
We took a vehicle in March that we had ordered back in November.

I also figured, like the OP, that prices would drop. I am looking for a fun car, but the prices are no different than before the global closure.

I think most dealers are delusional about how quickly the market will come back. Dealers are pricing everything like normal. In fact, with the huge factory rebates and incentives, dealers are scaling back the discounts they're giving at the dealer level.
 
i'll be a candidate in December or next January, a used or new vehicle depending on the cost/value ratio, Japanese for sure
 
Originally Posted by grampi
I figured with the lock down in place, and millions of people out of work, I thought I'd see the bottom drop out on vehicle prices, but it hasn't. What is keeping prices up?



My brothers friend is busy as ever selling used cars. Dont know what your talkin' about
 
Originally Posted by madRiver


Infinity and Mitsubishi are goners once dust settles in USA. Expect fire sale with them.


Interesting observation. Has there been some reporting on these?
 
I bought a truck, my sister bought a Focus, and my brother is after a Focus ST or Civic SI, we're probably going tomorrow to look around.
 
I see more new cars on the road right now than I can ever remember in the past.

There are a few homes in my neighbor hood with 2 new cars in the driveway.
 
I suspect that there are going to be many repossessions in the months ahead. This will depress the used car market and impinge on the new car market. The only thing that may prop up car prices to any extent is the furlough on manufacturing presently. I wholly believe that the new car market is going to see a fire-sale unlike anything ever seen before and starting this summer. You very well may see a dropout from the market among lesser selling brands, Mitsubishi, Alfa-Romeo,Fiat, Nissan/infiniti and possibly some larger dominoes being engulfed by bigger fish too. With the economy supposedly opening up, a lot of the near future car business is going to hinge on how fast and smooth that opening becomes and whether the nation is slapped back into shelter at home edicts if it opens too rapidly. Interesting times ahead.
 
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I'm the cross-shopper from H*ll; I'm considering a new Stinger GTS AWD, a 2019 330i M Sport, a 2017 540i xDrive M Sport(with the M Performance Power and Sound Kit), and a 2018 370Z NISMO,
Right now it's a toss-up between the GTS and the 5er. If my local Kia dealer hired techs with opposable thumbs the GTS would be a slam dunk- the 5er gains points because my local dealer is first rate. It also has the Bowers and Wilkins audio system- a $4200 option when new.
 
I have seen prices start to drop. Some dealers are holding out in hopes things will bet better sooner than later. But the smart ones have started to cut now instead of having to make much larger cuts later.

The other issue is most DMVs are closed. In VA you can register the car but not get tags. So even if you want to buy hard to close it out.
 
Originally Posted by 53' Stude
Originally Posted by grampi
I figured with the lock down in place, and millions of people out of work, I thought I'd see the bottom drop out on vehicle prices, but it hasn't. What is keeping prices up?

My brothers friend is busy as ever selling used cars. Dont know what your talkin' about

I wish that were the case around here in my little area of Arkansas, we have basically come to a standstill. I think a few of the new car lots have suckered several into the 0% for a lifetime with 0 payment for 120 days (that'll be here before they know it.) Oh well, we have both gotten in a lot of Family time since this has started.
Anyway, as for prices, I think they're trying the sucker move that I mentioned, selling new with incentives that aren't really that great until they have to do something else.
 
I read an analysis on Bloomberg that said the auctions are shut down right now and most of the used market isn't really functioning.
They felt in 6 months used car prices will go down drastically as lease returns and car rental fleets swamp the auctions but demand is poor due to the economy.
One unknown will be if the govt rolls out a cash for clunkers 2.0 or something similar.
Delay is your friend here.
The best deals are probably late this calendar year.
 
I was/am looking at a new Ram. Rebates went until April 15 instead of the whole month, they reset on the 16th. They went down $1500. I was expecting them to go up probably $2000. I guess they don't want to sell trucks.

But I found out they are going with a different frame and slightly updated interior for 2021 MY, so I might just wait until the end of the calendar year. I am looking for a bit of a unicorn (Laramie with bench seat, maroon in color with the chrome, Equipment 1 package, eTorque engine) and there are only two satisfactory vehicles within 300 miles for 2020 MY. If one or both are still there and they fire sale them in June I'll be in the market again probably, though.
 
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