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Buying a New Vehicle in this environment

Royalfan5

By Royalfan5
in Business and Markets

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Texas St. Armadillos
Texas St. Armadillos

Because she's a cunZ.

midtown
midtown

Used and new.  I've heard stories that dealers are dumping unsold new cars at auction now.  Fuck those guys. I hope they get annihilated for all the gouging they did during the pandemic. 

Elvis
Elvis

Yes I see the irony. 

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Captainant

Captainant 26861

Posted
Posted
On 6/5/2022 at 6:41 PM, Chult86 said:

Update after owning my Kia EV6 for a little over a week...

 

Was my first EV, and I will never go back. This is the nicest, most comfortable drive I've ever had and it's not even close. Commuted 200 miles to a work conference, no issues on a single charge. Hotel had a charging station at the valet so when I left I was back at 100% and made the trip home comfortably. Plugged into the garage and by the following morning was back to 100%.

 

It's hard to describe just how different the driving experience is in an EV over an ICE.

Damn that sounds amazing. I love my car, it's got a lifetime warranty, and I've only got a year of payments left on it, but hot damn electric cars seem so awesome lol. It's great to hear that long range driving and charging was no big deal, I hope it continues to improve for whenever I finally get my hands on an EV

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Sbbruin

Sbbruin 21567

Posted
Posted
On 6/6/2022 at 3:16 PM, Dahobbs said:

Kia's are pretty awesome now. They've come along way from the early 90s. Hell, Genesis is legit one of the best luxury car brands, with its recent cars meeting or even exceeding the best the Germans offer. 

Yeah, I have my eye on the GV70 as a possibility.

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Gravy Train

Gravy Train 969

Posted
Posted
2 hours ago, victory88 said:

Ordered a car in April looks like it will be delivered 1st week of July.  Now if I would stop getting lowballed for the trade in of the current vehicle.

Offering your vehicle for trade is only beneficial out of convenience (easy to let go) or to offset the sales tax on your new purchase.  If neither are of significant value, just put it up for  a private party sale.  Private inventory is coveted these days, with all the dealerships scraping the bottom of the barrels for preowned inventory to upsell.

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victory88

victory88 5641

Posted
Posted (edited)
3 hours ago, Gravy Train said:

Offering your vehicle for trade is only beneficial out of convenience (easy to let go) or to offset the sales tax on your new purchase.  If neither are of significant value, just put it up for  a private party sale.  Private inventory is coveted these days, with all the dealerships scraping the bottom of the barrels for preowned inventory to upsell.

I got a 18-19k Kelly blue book value and comparable vehicles with model and mileage are selling for 23-24k.  The dealership offered us 12 lol.  I’ve never sold a car so just hoping I don’t get scammed somehow.

Edited by victory88
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Gravy Train

Gravy Train 969

Posted
Posted
11 hours ago, victory88 said:

I got a 18-19k Kelly blue book value and comparable vehicles with model and mileage are selling for 23-24k.  The dealership offered us 12 lol.  I’ve never sold a car so just hoping I don’t get scammed somehow.

It's super easy-- get the car clean, take a bunch of photos, post all the details to AutoTrader, CarGurus and/or Cars.com.  Be prepared for a shitstorm of tire kickers and lowball offers to fuck off, but a legit one will come by quickly in this market.  Collect the buyer's personal details if offering a test drive, prepare a private 'Bill of Sale' template for the buyer to sign when you reach an agreement.  Seems you should make out with an additional $5K easy over what your dealership is offering...

You can also negotiate the trade value with your dealer and tell them 'no thanks,' with your intent to sell private party until they get real on your trade offer.

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victory88

victory88 5641

Posted
Posted (edited)
On 6/17/2022 at 2:41 AM, tx 3 putt said:

 

what are you selling ?

It's a black 2015 Mercedes CLA 250.  Has a little under 80k miles on it.  Interior is spotless.  Back bumper has a little scrape that really isn't noticeable.  We didn't care to fix it since it's not all that noticeable but easily can be touched up.  Was going to tell the buyer we'll knock off a bit off the price incase they wanted to fix it themselves.

Kelly Blue Book said 18k.  Dealership is offering us 12.  Carmax 15.  Haven't tried Carvana yet.  My friend said they got the best offer from Carvana.  Might try that next just to get it off my hands.

Edited by victory88
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Etexhorn13

Etexhorn13 2995

Posted
Posted (edited)
On 6/20/2022 at 12:14 PM, victory88 said:

It's a black 2015 Mercedes CLA 250.  Has a little under 80k miles on it.  Interior is spotless.  Back bumper has a little scrape that really isn't noticeable.  We didn't care to fix it since it's not all that noticeable but easily can be touched up.  Was going to tell the buyer we'll knock off a bit off the price incase they wanted to fix it themselves.

Kelly Blue Book said 18k.  Dealership is offering us 12.  Carmax 15.  Haven't tried Carvana yet.  My friend said they got the best offer from Carvana.  Might try that next just to get it off my hands.

Carvana gave us anywhere from 4-6K over what we were offered elsewhere for my wife’s 2012 Honda Crosstour we just got rid of. They were even higher than KBB. In Houston, if that matters.

Edited by Etexhorn13
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jimmyjazz

jimmyjazz 45055

Posted
Posted

Not exactly apropos to this thread, but I am currently rolling in a 2020 Ford Expedition Max Limited provided by Enterprise while my wife's 4Runner gets fixed after she was t-boned (hey-o) in a random downpour.

I'm pretty sure this thing costs way more than my $50/day rental coverage, but they had it, gave it to me, and assured me that my policy covered it 100%.  It's as big as a school bus.  Totally intimidating at first, but honestly, pretty nice.  I guess for a starting MSRP of $68K, it should be.

I was expecting a base Sentra or something.

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fattyflattie

fattyflattie 4631

Posted
Posted
On 6/22/2022 at 3:04 PM, jimmyjazz said:

Not exactly apropos to this thread, but I am currently rolling in a 2020 Ford Expedition Max Limited provided by Enterprise while my wife's 4Runner gets fixed after she was t-boned (hey-o) in a random downpour.

I'm pretty sure this thing costs way more than my $50/day rental coverage, but they had it, gave it to me, and assured me that my policy covered it 100%.  It's as big as a school bus.  Totally intimidating at first, but honestly, pretty nice.  I guess for a starting MSRP of $68K, it should be.

I was expecting a base Sentra or something.

Really surprised its MSRP was that low. Neighbor bought his wife one around that time and it was into the 70’s iirc. I remember being floored that’s what they cost. A year or two later wife ended up needing a new ride and fuck me, they didn’t go down in price. 

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XForce

XForce 218

Posted
Posted
11 hours ago, fattyflattie said:

Really surprised its MSRP was that low. Neighbor bought his wife one around that time and it was into the 70’s iirc. I remember being floored that’s what they cost. A year or two later wife ended up needing a new ride and fuck me, they didn’t go down in price. 

we rented one last summer for a trip and my wife loved it. She’s had two tahoes so wants something that size but the prices of expeditions are ridiculous. She’s probably getting an X5 or GX460 in the next two weeks because the prices of Ford and Chevy pushed us that way. 

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fattyflattie

fattyflattie 4631

Posted
Posted
30 minutes ago, jimmyjazz said:

What really floored me was that the thing got 20 mpg from Austin up to Tyler and back.  That's not that bad, given the immense size of the thing.

Yeah, it’s pretty impressive these days. Think we got something like 22 avg from Houston to Colorado for a week, loaded with ski equip, and 23.xx to Fla and back.  That’s 4x4 with 420hp that seats 8.  Pretty impressive imo. 

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NotActuallyALonghorn

NotActuallyALonghorn 4956

Posted
Posted

If you want the size, but not the price, take a look at a full size van. We have a NV3500 that is a beast, can basically fit a queen size bed in the back with two back rows taken out, etc. It's nice to not ever have to worry about folding a stroller up or having enough room for sports gear and groceries and all that junk you end up hauling around as parents. 

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The Ace of Aces

The Ace of Aces 4946

Posted
Posted

Friend is the GM of a very large Toyota dealer on the east coast; he said they expect inventory to improve over the fall/winter and the spring be back into somewhat decent shape. It won't go back to what we were used to as manufactures won't oversupply anymore. I hope to God he's right - waiting months and months for a car you can't really even specifically pick out the color/features sucks.  

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Deej

Deej 76080

Posted
Posted
On 6/26/2022 at 10:03 PM, NotActuallyALonghorn said:

If you want the size, but not the price, take a look at a full size van. We have a NV3500 that is a beast, can basically fit a queen size bed in the back with two back rows taken out, etc. It's nice to not ever have to worry about folding a stroller up or having enough room for sports gear and groceries and all that junk you end up hauling around as parents. 

 

362cddc0-48a0-407b-8cf7-c4acff3af594_screenshot.jpg

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fattyflattie

fattyflattie 4631

Posted
Posted
1 hour ago, mdleast said:

Please tell me this fucking bullshit era of car buying will end soon. I’ve been wanting to buy a new vehicle for a while but I simply cannot stomach the idea of buying when the market is so abnormally high.

d60bed964850d7aecd01356213701d23.jpg

I find their font more offensive than their markup.  But yeah, shits borked. 

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royiv

royiv 9043

Posted
Posted
10 hours ago, mdleast said:

Please tell me this fucking bullshit era of car buying will end soon. I’ve been wanting to buy a new vehicle for a while but I simply cannot stomach the idea of buying when the market is so abnormally high.

d60bed964850d7aecd01356213701d23.jpg

"Fair" lulz

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52-80

52-80 18962

Posted
Posted
On 5/24/2022 at 9:34 PM, chainsaw said:

Almost feels as if big money forces have conspired to tank the economy and make a certain political party look responsible.

 

Big Silicon is out to subvert the ruling US political party!!1!!!11!!

giphy.gif

 

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KingBobo81

KingBobo81 524

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Posted (edited)

So it looks like if the new federal legislation passes as is, Tesla, GM, Toyota, etc. would be eligible for buyer tax credits again (though I think Tesla will have to lower the cost on most of their vehicles to meet the price requirements in the framework) while cars that are built overseas will not be eligible. It will be interesting to see if/how it affects the EV market in America.

Edited by KingBobo81
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Telegraph_it

Telegraph_it 3350

Posted
Posted
3 hours ago, KingBobo81 said:

So it looks like if the new federal legislation passes as is, Tesla, GM, Toyota, etc. would be eligible for buyer tax credits again (though I think Tesla will have to lower the cost on most of their vehicles to meet the price requirements in the framework) while cars that are built overseas will not be eligible. It will be interesting to see if/how it affects the EV market in America.

I thought there was an income cap provision for these credits or am I making that up? 

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Dahobbs

Dahobbs 17088

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38 minutes ago, Telegraph_it said:

I thought there was an income cap provision for these credits or am I making that up? 

Under the new legislation there is a $150k/300k limit. But I believe that only applies to the new and additional $4k EV tax credit, not the currently existing and continuing $7.5k credit. 

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gmr548

gmr548 16251

Posted
Posted
1 hour ago, fattyflattie said:

What good does that do?  

I guess one could argue that once you get past that point, the tax break isn't making or breaking your EV purchase, and there's no sense in forfeiting the revenue. IN general I agree though - kind of a weird thing to means test.

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Dahobbs

Dahobbs 17088

Posted
Posted
1 hour ago, fattyflattie said:

What good does that do?  

What good does what do? The income limit? I guess keeps the very well off from claiming the additional 4k? Seems silly since someone able to take advantage of that full 12k credit probably needs to be in a higher tax bracket anyway. 

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Dahobbs

Dahobbs 17088

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18 hours ago, Your Mom said:

Isn’t the $7.5k tax break already used up for most existing EVs?  Wasn’t it only good for a certain number of vehicles sold?  

It is by manufacturer. GM and Tesla no longer qualify under the old law (that would change with the new legislation). Toyota has reached out is about to reach the start of the phase out period. The German and Korean manufacturers all still qualify. 

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Nice Guy Eddie

Nice Guy Eddie 13267

Posted
Posted

I don’t see how the $7500 tax break is anything other than increasing the revenue for EV car manufacturers. There isn’t a demand problem for EVs. People want them especially with high gas prices. The die is cast that EVs are the future.

Create this incentive and the vehicle price will quickly rise $7500. Maybe not all at once but it will happen.

if the idea is that we want ICE vehicles off the road for pollution reasons, we are better off spending the money on tax breaks for wind, solar and nuclear energy generation providers. 

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Brew

Brew 2917

Posted
Posted
47 minutes ago, Nice Guy Eddie said:

I don’t see how the $7500 tax break is anything other than increasing the revenue for EV car manufacturers. There isn’t a demand problem for EVs. People want them especially with high gas prices. The die is cast that EVs are the future.

Create this incentive and the vehicle price will quickly rise $7500. Maybe not all at once but it will happen.

if the idea is that we want ICE vehicles off the road for pollution reasons, we are better off spending the money on tax breaks for wind, solar and nuclear energy generation providers. 

The $7500 credit has been in place since sometime around 2010. Early on people were using it for plug in street legal golf carts. Most of the EV manufacturers that got into electric early have already phased out of it as there was a 250k car limit. The new one is a double down to incentivize behavior just like they all are.

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Dahobbs

Dahobbs 17088

Posted
Posted
1 hour ago, Nice Guy Eddie said:

I don’t see how the $7500 tax break is anything other than increasing the revenue for EV car manufacturers. There isn’t a demand problem for EVs. People want them especially with high gas prices. The die is cast that EVs are the future.

Create this incentive and the vehicle price will quickly rise $7500. Maybe not all at once but it will happen.

if the idea is that we want ICE vehicles off the road for pollution reasons, we are better off spending the money on tax breaks for wind, solar and nuclear energy generation providers. 

That's not entirely how it works. Yes, it helps make electric vehicles more profitable. Put it also makes them cheaper and more competitive. It definitely helped drive demand and investment early on. Probably less critical now, but it will speed up adoption. There have been a number of studies that look at tax credits like this (including this one).

 

 

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fattyflattie

fattyflattie 4631

Posted
Posted
8 hours ago, Dahobbs said:

That's not entirely how it works. Yes, it helps make electric vehicles more profitable. Put it also makes them cheaper and more competitive. It definitely helped drive demand and investment early on. Probably less critical now, but it will speed up adoption. There have been a number of studies that look at tax credits like this (including this one).

 

 

Agree.  It’s still not something that would really work for my family, but if I was borderline I’d absolutely take a harder look with the credit. The income cap is dumb and they need to tie it to the current admins income level line (480k?). 

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52-80

52-80 18962

Posted
Posted
On 7/31/2022 at 8:42 PM, Nice Guy Eddie said:

I don’t see how the $7500 tax break is anything other than increasing the revenue for EV car manufacturers. There isn’t a demand problem for EVs. People want them especially with high gas prices. The die is cast that EVs are the future.

Create this incentive and the vehicle price will quickly rise $7500. Maybe not all at once but it will happen.

if the idea is that we want ICE vehicles off the road for pollution reasons, we are better off spending the money on tax breaks for wind, solar and nuclear energy generation providers. 

The new bill also includes plug-in hybrids, which have shown to be not low in pollution, as most of their mileage are run on fuel. 

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