chip shortage devestating new car sales

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August 25th, 2021 at 2:17:21 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: AZDuffman
1/3 of people lease. Let them, it has made a mostly stable car market. Scary is that they are starting used car leases now. In a generation they will probably be normal and owning your car might not be normal.


The lease mania has been going on for many years now. What seems to be new is inventing bogus charges so that people won't buy out the lease at the end of term.
August 25th, 2021 at 3:29:39 PM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18136
Quote: Pacomartin
The lease mania has been going on for many years now. What seems to be new is inventing bogus charges so that people won't buy out the lease at the end of term.


While leasing first got to be a thing in the 80s it really got in gear in the late 1990s. A guy worked for me said his wife leased a Range Rover or some fancy thing for 5 years, but would still owe IIRC around $20 large at the end. He asked what she would do and she said she would finance it 4 more years, he said she was nuts.

After the 2008 crash it settled to 3 years. A woman who worked with me even once questioned 5 year leases.

All those charges people seem to forget. They love the low monthly. A nation of debt slaves.
The President is a fink.
August 25th, 2021 at 6:30:55 PM permalink
DRich
Member since: Oct 24, 2012
Threads: 51
Posts: 4944
Quote: Pacomartin
The lease mania has been going on for many years now. What seems to be new is inventing bogus charges so that people won't buy out the lease at the end of term.


I bought out my Chevy Equinox lease about 5 months ago and sold it to Carvana. This one worked out well for me ast it was worth $5000 more than my buyout. That was the first lease I bought out. I will be buying out my Mazda6 lease in the next month or two.
At my age a Life In Prison sentence is not much of a detrrent.
August 25th, 2021 at 7:05:11 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: DRich
I bought out my Chevy Equinox lease about 5 months ago and sold it to Carvana. This one worked out well for me ast it was worth $5000 more than my buyout. That was the first lease I bought out. I will be buying out my Mazda6 lease in the next month or two.

What kind of buyout fees did you pay? Did you have to go through a dealer or just the finance company.
August 25th, 2021 at 7:21:06 PM permalink
DRich
Member since: Oct 24, 2012
Threads: 51
Posts: 4944
Quote: Pacomartin
What kind of buyout fees did you pay? Did you have to go through a dealer or just the finance company.


No fees at all, Carvana just sent the payoff amount to the finance company and cut me a check for the difference. Very simple transaction, took about a week.
At my age a Life In Prison sentence is not much of a detrrent.
September 21st, 2021 at 7:27:52 PM permalink
terapined
Member since: Aug 6, 2014
Threads: 73
Posts: 11786
Was at a Ford dealership getting my oil changed
I asked to see their new F-150's
All they had were lifted models
WTF
A company nearby has a deal with Ford, they get cars direct from Ford to modify
The dealer desperate for inventory, bought all the new cars from that modifier
Hence all lifted
Sometimes we live no particular way but our own - Grateful Dead "Eyes of the World"
September 22nd, 2021 at 7:14:14 AM permalink
SOOPOO
Member since: Feb 19, 2014
Threads: 22
Posts: 4157
Went to buy new car yesterday. Was thinking Subaru Legacy or maybe CrossTrek. Subaru salesman…. we have ZERO new cars available. ‘Hopefully we get some in the end of October’. Wife likes the VW Tiguan. VW dealer has 2. Remember, they are 2021 model. In a normal year the 2022’s are already out and they are desperate to get rid of 2021’s. The offer was the MSRP. I walked out. Will see if they call me back.
September 22nd, 2021 at 8:33:57 AM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18136
Quote: SOOPOO
Went to buy new car yesterday. Was thinking Subaru Legacy or maybe CrossTrek. Subaru salesman…. we have ZERO new cars available. ‘Hopefully we get some in the end of October’. Wife likes the VW Tiguan. VW dealer has 2. Remember, they are 2021 model. In a normal year the 2022’s are already out and they are desperate to get rid of 2021’s. The offer was the MSRP. I walked out. Will see if they call me back.


Surprised they offered MSRP. These parts some have a "Market Inventory Adjustment" $500-1500. Just a name for additional markup.

Dealers around here are parking the cars weird to make it look like they have more cars. I have heard that even when it ends expect the manufacturers to keep to a 50 or so day supply as normal business.
The President is a fink.
September 22nd, 2021 at 10:20:27 AM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 146
Posts: 25010
Quote: SOOPOO
The offer was the MSRP. I walked out. Will see if they call me back.


Any new car a dealership gets on the lot has been sold for months. They will never call you back. The only way to get a new car just to buy it now and wait for months. It's been that way since Spring. Ford salesman told me in April that every time they got a new load of trucks in anything in the delivery that wasn't already sold was sold before it came off the vehicle to somebody standing there. Dealerships are down to skeleton ranks in sales people they aren't making any money compared to usual for this time of year.
If you take a risk, you may lose. If you never take a risk, you will always lose.
September 22nd, 2021 at 10:55:47 AM permalink
gamerfreak
Member since: Feb 19, 2018
Threads: 4
Posts: 527
Quote: SOOPOO
Went to buy new car yesterday. Was thinking Subaru Legacy or maybe CrossTrek. Subaru salesman…. we have ZERO new cars available. ‘Hopefully we get some in the end of October’. Wife likes the VW Tiguan. VW dealer has 2. Remember, they are 2021 model. In a normal year the 2022’s are already out and they are desperate to get rid of 2021’s. The offer was the MSRP. I walked out. Will see if they call me back.

My Dad went to Kia last week.

Everything was $5k over MSRP, no negotiation.

They wanted almost $700/month to lease a Sportage.
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